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REGISTERED NUMBER: 05817070 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Openwood Limited

Openwood Limited (Registered number: 05817070)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Openwood Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mrs F Barth





SECRETARY: Mrs F Barth





REGISTERED OFFICE: 66 Crockford Park Road
Addlestone
Surrey
KT15 2LU





REGISTERED NUMBER: 05817070 (England and Wales)





ACCOUNTANTS: Eagle Accountancy (UK) Limited
2 Coracle Offices
St Catherine Street
Carmarthen
Carmarthenshire
SA31 1RD

Openwood Limited (Registered number: 05817070)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 414,095 414,095
414,095 414,095

CURRENT ASSETS
Debtors 6 9,786 9,980
Investments 7 20 20
Cash at bank - 8,998
9,806 18,998
CREDITORS
Amounts falling due within one year 8 17,300 11,176
NET CURRENT (LIABILITIES)/ASSETS (7,494 ) 7,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,601

421,917

CREDITORS
Amounts falling due after more than one year 9 163,932 163,932
NET ASSETS 242,669 257,985

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 242,569 257,885
242,669 257,985

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 29 July 2024 and were signed by:





Mrs F Barth - Director


Openwood Limited (Registered number: 05817070)

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

1. STATUTORY INFORMATION

Openwood 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.

Goodwill
Goodwill has historically been written off in accordance with company accounting policy.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
The Tangible Fixed Assets being Land & Buildings are not being depreciated in line with historical accounting policies.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

Openwood Limited (Registered number: 05817070)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 5,000
AMORTISATION
At 1 June 2022
and 31 May 2023 5,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 June 2022
and 31 May 2023 414,095
NET BOOK VALUE
At 31 May 2023 414,095
At 31 May 2022 414,095

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 9,786 9,980

7. CURRENT ASSET INVESTMENTS
31.5.23 31.5.22
£    £   
Listed investments 20 20

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 4 -
Taxation and social security 16,540 10,750
Other creditors 756 426
17,300 11,176

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Other creditors 163,932 163,932