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REGISTERED NUMBER: 10969858 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Open Trading Limited

Open Trading Limited (Registered number: 10969858)






Contents of the Financial Statements
for the Year Ended 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Open Trading Limited

Company Information
for the Year Ended 30 APRIL 2023







DIRECTORS: S Cove
Mrs N Cove
J Harris-Cohen





REGISTERED OFFICE: Suite 1, Europa House
13 Marsham Way
Gerrards Cross
Buckinghamshire
SL9 8BQ





REGISTERED NUMBER: 10969858 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

Open Trading Limited (Registered number: 10969858)

Balance Sheet
30 APRIL 2023

30.4.23 30.4.22
Notes £    £   
CURRENT ASSETS
Stocks 4 11,626,039 9,973,467
Debtors 5 200,851 580,252
Cash at bank and in hand 1,046 23,648
11,827,936 10,577,367
CREDITORS
Amounts falling due within one year 6 11,577,050 10,559,352
NET CURRENT ASSETS 250,886 18,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,886

18,015

CREDITORS
Amounts falling due after more than one year 7 229,121 -
NET ASSETS 21,765 18,015

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 20,765 17,015
SHAREHOLDERS' FUNDS 21,765 18,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:




J Harris-Cohen - Director


Open Trading Limited (Registered number: 10969858)

Notes to the Financial Statements
for the Year Ended 30 APRIL 2023

1. STATUTORY INFORMATION

Open Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. STOCKS
30.4.23 30.4.22
£    £   
Stock of properties 11,626,039 9,973,467

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors 110,582 -
Deposits paid 90,269 65,403
Amounts due on completion - 514,849
200,851 580,252

Open Trading Limited (Registered number: 10969858)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts (see note 8) 8,486,199 7,730,935
Trade creditors 61,065 -
Tax 15,398 5,398
Other creditors 2,936,245 2,739,859
Sundry loans - 78,000
Accrued expenses 78,143 5,160
11,577,050 10,559,352

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans (see note 8) 229,121 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 229,121 -

8. LOANS

An analysis of the maturity of loans is given below:

30.4.23 30.4.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,486,199 7,730,935

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 229,121 -

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 8,715,320 7,730,935

The bank loans are secured by a fixed charge over the company's properties.

Open Trading Limited (Registered number: 10969858)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2023

10. RELATED PARTY DISCLOSURES

Other creditors is an amount of £2,936,245 due to Open Property Finance Limited, a company of which Mr Harris-Cohen, Mr Cove and Mrs Cove are directors and shareholders.

Other debtors includes an amount of £96,171 due from Open Trading Two Limited, a company of which Mr Harris-Cohen, Mr Cove and Mrs Cove are directors and shareholders.

During the year, the company sold properties at market value of £258,000 to Open Trading Two Limited.

The administration charge of £30,000 in the Trading and Profit and Loss Account was charged by Landlord Buyer Limited, a company under common control.

Expenditure in the Trading and Profit and Loss Account includes wages of £400,242 and advertising of £490,610 that are recharged expenses from Open Property Finance Limited.

Expenditure in the Trading and Profit and Loss Account includes wages of £115,048 that are recharged expenses from Landlord Buyer Limited, a wholly owned subsidiary of Open Property Finance Limited.

Expenditure in the Trading and Profit and Loss Account includes wages of £51,060 that are recharged expenses from Move Places Limited, a company of which Mr Harris-Cohen, Mr Cove and Mrs Cove are directors and shareholders.

Loan interest of £437,837 was charged by Open Property Finance Limited.