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Company Registration No. 12745164 (England and Wales)
Open Space Network Ltd Unaudited accounts for the year ended 31 July 2023
Open Space Network Ltd Unaudited accounts Contents
Page
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Open Space Network Ltd Company Information for the year ended 31 July 2023
Director
Matthew Young
Company Number
12745164 (England and Wales)
Registered Office
49 Market Place Warminster Wiltshire BA12 9AZ
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Open Space Network Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,576 
8,811 
Current assets
Debtors
5,537 
5,549 
Cash at bank and in hand
4,298 
8,307 
9,835 
13,856 
Creditors: amounts falling due within one year
(30,000)
(33,099)
Net current liabilities
(20,165)
(19,243)
Net liabilities
(14,589)
(10,432)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(14,599)
(10,442)
Shareholders' funds
(14,589)
(10,432)
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 April 2024 and were signed on its behalf by
Matthew Young Director Company Registration No. 12745164
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Open Space Network Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Open Space Network Ltd is a private company, limited by shares, registered in England and Wales, registration number 12745164. The registered office is 49 Market Place, Warminster, Wiltshire, BA12 9AZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The Company is dependent on the continuing support of both it's parent company and it's director who have each provided loans of £15,000. However the director, and parent company each confirm that financial support will continue, and the Director is satisfied that it is appropriate to prepare the financial statements on a going concern basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33%
Taxation
UK Corporation tax payable is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date. deferred taxation is provided using the liability method on all timing differences which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Grant income is shown in the profit and loss account as other operating income.
Turnover
Turnover represents the amounts invoiced for goods and services, stated net of value added tax.
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Open Space Network Ltd Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2022
11,988 
Additions
240 
At 31 July 2023
12,228 
Depreciation
At 1 August 2022
3,177 
Charge for the year
3,475 
At 31 July 2023
6,652 
Net book value
At 31 July 2023
5,576 
At 31 July 2022
8,811 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
167 
- 
Accrued income and prepayments
1,760 
1,939 
Other debtors
3,610 
3,610 
5,537 
5,549 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
99 
Amounts owed to group undertakings and other participating interests
15,000 
- 
Other creditors
- 
16,500 
Loans from directors
15,000 
16,500 
30,000 
33,099 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
2,000 
2,000 
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Open Space Network Ltd Notes to the Accounts for the year ended 31 July 2023
9
Transactions with related parties
The Company is a subsidiary of Minim Row Ltd and is indebted to Minim Row Ltd in the sum of £15,000 (2022: £16,500). In addition, the company is indebted to Matthew Young in the sum of £15,000 (2022: £16,500) which is shown within Loans from Directors.
10
Controlling party
On 15th December 2022, the entire share capital of the company was acquired by Minim Row Ltd, a company registered in the UK at 21 Vicarage Street, Warminster, BA12 8JG.
11
Average number of employees
During the year the average number of employees was 0 (2022: 1).
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