Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11198418 Mr Philip Levy Mrs Sarah Levy Mr Samuel Levy Mr Aimee Levy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11198418 2023-02-28 11198418 2024-02-29 11198418 2023-03-01 2024-02-29 11198418 frs-core:CurrentFinancialInstruments 2024-02-29 11198418 frs-core:PlantMachinery 2024-02-29 11198418 frs-core:PlantMachinery 2023-03-01 2024-02-29 11198418 frs-core:PlantMachinery 2023-02-28 11198418 frs-core:ShareCapital 2024-02-29 11198418 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11198418 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11198418 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11198418 frs-bus:SmallEntities 2023-03-01 2024-02-29 11198418 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11198418 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11198418 frs-bus:Director1 2023-03-01 2024-02-29 11198418 frs-bus:Director2 2023-03-01 2024-02-29 11198418 frs-bus:Director3 2023-03-01 2024-02-29 11198418 frs-bus:Director4 2023-03-01 2024-02-29 11198418 frs-countries:EnglandWales 2023-03-01 2024-02-29 11198418 2022-02-28 11198418 2023-02-28 11198418 2022-03-01 2023-02-28 11198418 frs-core:CurrentFinancialInstruments 2023-02-28 11198418 frs-core:ShareCapital 2023-02-28 11198418 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11198418
OPEN FORMULA LIMITED
Unaudited Financial Statements
For The Year Ended 29 February 2024
Ascentant Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11198418
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,301 1,562
1,301 1,562
CURRENT ASSETS
Debtors 5 1,421 2,279
Cash at bank and in hand 765 3,555
2,186 5,834
Creditors: Amounts Falling Due Within One Year 6 (4,998 ) (7,213 )
NET CURRENT ASSETS (LIABILITIES) (2,812 ) (1,379 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,511 ) 183
NET (LIABILITIES)/ASSETS (1,511 ) 183
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (1,611 ) 83
SHAREHOLDERS' FUNDS (1,511) 183
Page 1
Page 2
For the year ending 29 February 2024 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 Philip Levy
Director
15/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
OPEN FORMULA LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11198418 . The registered office is Suite 5, Keynes House, Alfreton Road, Derby, DE21 4AS.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Plant & Machinery 20% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 3,627
As at 29 February 2024 3,627
Depreciation
As at 1 March 2023 2,065
Provided during the period 261
As at 29 February 2024 2,326
Net Book Value
As at 29 February 2024 1,301
As at 1 March 2023 1,562
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,421 2,108
Other debtors - 171
1,421 2,279
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 415 191
Bank loans and overdrafts 1,044 1,018
Other creditors 3,539 6,004
4,998 7,213
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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