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REGISTERED NUMBER: 07572654 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

OPEN CLOUD MEDIA LTD

OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)






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

Chartered Accountants' Report 8

OPEN CLOUD MEDIA LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D C Webb
S A Badger





REGISTERED OFFICE: 69 Rosebery Avenue
Hythe
Southampton
SO45 3HA





REGISTERED NUMBER: 07572654 (England and Wales)





ACCOUNTANTS: Maven Accountants Limited
PO Box 1882
Southampton
Hampshire
SO15 9JZ

OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)

Balance Sheet
31 December 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,424 6,152

CURRENT ASSETS
Stocks 1,916 -
Debtors 5 13,882 5,670
Cash at bank 32,267 8,198
48,065 13,868
CREDITORS
Amounts falling due within one year 6 52,202 19,060
NET CURRENT LIABILITIES (4,137 ) (5,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(713

)

960

CREDITORS
Amounts falling due after more than
one year

7

3,939

5,759
NET LIABILITIES (4,652 ) (4,799 )

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings (4,682 ) (4,829 )
(4,652 ) (4,799 )

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.

OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)

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 29 August 2024 and were signed on its behalf by:





D C Webb - Director


OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)

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

1. STATUTORY INFORMATION

Open Cloud Media Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the year-end the Company had net liabilities equating to (£4,652). The Directors have provided representations that the Ultimate parent company, Parable Trust Ltd, will continue to provide support for a period of 12 months from the date of the signing of the Balance Sheet. As a result, the Directors consider it appropriate to prepare the accounts on a Going Concern basis.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 December 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 January 2022.

a) Changes in Accounting Policies

Deferred tax is now recognised in respect of all timing differences.

Financial instruments are held at amortised cost less any impairment.

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.

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


OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 11,630
Additions 626
At 31 December 2023 12,256
DEPRECIATION
At 1 January 2023 5,478
Charge for year 3,354
At 31 December 2023 8,832
NET BOOK VALUE
At 31 December 2023 3,424
At 31 December 2022 6,152

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade debtors 2,312 1,604
Amounts owed by group undertakings 11,494 -
Amounts owed by associates - 1,643
Other debtors 76 2,423
13,882 5,670

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans and overdrafts 25,079 2,053
Trade creditors 9,952 -
Taxation and social security 14,671 9,396
Other creditors 2,500 7,611
52,202 19,060

OPEN CLOUD MEDIA LTD (REGISTERED NUMBER: 07572654)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans 3,939 5,759

8. FINANCIAL INSTRUMENTS

Financial instruments are held at amortised cost, less impairment, in the financial statements in accordance with FRS 102.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
as restated
£    £   
D C Webb
Balance outstanding at start of year 1,165 879
Amounts advanced 16,620 21,257
Amounts repaid (17,785 ) (20,130 )
Amounts written off - (841 )
Amounts waived - -
Balance outstanding at end of year - 1,165

At the year end, the director, D Webb, owed to the company £Nil (2022 : £1,165).

Loans are repayable on demand.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Open Cloud Media Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Open Cloud Media Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Open Cloud Media Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Open Cloud Media Ltd and state those matters that we have agreed to state to the Board of Directors of Open Cloud Media Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Open Cloud Media Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Open Cloud Media Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Open Cloud Media Ltd. You consider that Open Cloud Media Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Open Cloud Media Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Maven Accountants Limited
PO Box 1882
Southampton
Hampshire
SO15 9JZ


29 August 2024