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Registered number: 06230658
Open Exhibitions Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
Smallbutcool Chartered Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06230658
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,680 51,353
27,680 51,353
CURRENT ASSETS
Stocks 5 372 5,357
Debtors 6 268,654 157,619
Cash at bank and in hand 437,048 423,502
706,074 586,478
Creditors: Amounts Falling Due Within One Year 7 (430,453 ) (234,335 )
NET CURRENT ASSETS (LIABILITIES) 275,621 352,143
TOTAL ASSETS LESS CURRENT LIABILITIES 303,301 403,496
Creditors: Amounts Falling Due After More Than One Year 8 (151,659 ) (246,963 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,081 )
NET ASSETS 151,642 153,452
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 151,542 153,352
SHAREHOLDERS' FUNDS 151,642 153,452
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For the year ending 30 June 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Edwards
Director
26/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Open Exhibitions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06230658 . The registered office is Open House Hawkes Drive, Heathcote Industrial Estate, Warwick, CV34 6LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have considered the impact of COVID-19 in relation to their assessment of going concern and in their opinion have taken all reasonable steps to mitigate these factors and believe the going concern assumption still to be appropriate.
2.3. Turnover
Turnover represents the value of work done in the accounting period, including estimates of amounts not yet invoiced.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% on cost
Plant & Machinery 10% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.6. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.7. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
2.8. Taxation
Taxation for the year comprises an estimate of current and deferred tax.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is estimated 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 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 the tax assessments in period 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.
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2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Government Grant
Government grants related to the Coronavirus Job Retention Scheme are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 4)
6 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2022 80,425 629,803 28,316 35,119
Additions 1,469 - - 4,531
As at 30 June 2023 81,894 629,803 28,316 39,650
Depreciation
As at 1 July 2022 65,447 594,528 28,316 34,019
Provided during the period 5,864 27,986 - 1,364
As at 30 June 2023 71,311 622,514 28,316 35,383
Net Book Value
As at 30 June 2023 10,583 7,289 - 4,267
As at 1 July 2022 14,978 35,275 - 1,100
Computer Equipment Total
£ £
Cost
As at 1 July 2022 60,749 834,412
Additions 6,206 12,206
As at 30 June 2023 66,955 846,618
Depreciation
As at 1 July 2022 60,749 783,059
Provided during the period 665 35,879
As at 30 June 2023 61,414 818,938
Net Book Value
As at 30 June 2023 5,541 27,680
As at 1 July 2022 - 51,353
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5. Stocks
2023 2022
£ £
Work in progress 372 5,357
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 223,145 136,233
Prepayments and accrued income 45,374 2,015
Other debtors 135 337
Corporation tax recoverable assets - 19,034
268,654 157,619
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 55,186 88,762
Bank loans and overdrafts 70,008 52,000
Corporation tax 19,417 -
Taxation and social security 2,908 22,675
VAT 58,069 -
Other creditors 80,606 39,401
Accruals and deferred income 144,259 31,497
430,453 234,335
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 151,659 246,963
151,659 246,963
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 142,210 75,000
142,210 75,000
11. Ultimate Controlling Party
The ultimate controlling party is F M Day and D W Edwards.
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