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REGISTERED NUMBER: 02917100












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

The Open Agency Limited

The Open Agency Limited (Registered number: 02917100)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Open Agency Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G C Clipp
L MacLeod





REGISTERED OFFICE: The Coach House
10 Shepherds Walk
Tunbridge Wells
Kent
TN2 3QR





REGISTERED NUMBER: 02917100





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

The Open Agency Limited (Registered number: 02917100)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,861 10,753
7,861 10,753

CURRENT ASSETS
Work in progress 6 10,000 5,000
Debtors 7 87,311 73,150
Cash at bank 133,908 189,574
231,219 267,724
CREDITORS
Amounts falling due within one year 8 70,013 76,573
NET CURRENT ASSETS 161,206 191,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,067

201,904

CREDITORS
Amounts falling due after more than one
year

9

16,000

14,000
NET ASSETS 153,067 187,904

CAPITAL AND RESERVES
Called up share capital 900 900
Capital redemption reserve 10 100 100
Retained earnings 10 152,067 186,904
SHAREHOLDERS' FUNDS 153,067 187,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Open Agency Limited (Registered number: 02917100)

Balance Sheet - continued
31 December 2023


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 5 March 2024 and were signed on its behalf by:





G C Clipp - Director


The Open Agency Limited (Registered number: 02917100)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

The Open Agency Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Significant judgements and estimates
There no material estimates included in these accounts.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost

Stocks
Work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The Open Agency Limited (Registered number: 02917100)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Functional currency
The functional currency and presentational currency used by the company is £stg.

Basic financial instruments
Basic financial instruments comprising debtors and bank & cash balances are stated at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 20,000 9,000 29,000
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000 9,000 29,000
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 185,231
DEPRECIATION
At 1 January 2023 174,478
Charge for year 2,892
At 31 December 2023 177,370
NET BOOK VALUE
At 31 December 2023 7,861
At 31 December 2022 10,753

6. WORK IN PROGRESS
2023 2022
£    £   
Stocks 10,000 5,000

The Open Agency Limited (Registered number: 02917100)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 79,221 64,956
Other debtors & prepayments 8,090 8,194
87,311 73,150

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 22,579 17,782
Tax 1,733 1,733
Social security and other taxes 11,427 18,024
VAT 31,534 35,114
Other creditors & accruals 2,740 3,920
70,013 76,573

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Directors' loan accounts 16,000 14,000

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 186,904 100 187,004
Deficit for the year (32,837 ) (32,837 )
Dividends (2,000 ) (2,000 )
At 31 December 2023 152,067 100 152,167