REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
for |
OPEN CLOUD GROUP LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
for |
OPEN CLOUD GROUP LTD |
OPEN CLOUD GROUP LTD (REGISTERED NUMBER: 13259732) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
OPEN CLOUD GROUP LTD |
Company Information |
for the Period 1 April 2023 to 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
PO Box 1882 |
Southampton |
Hampshire |
SO15 9JZ |
OPEN CLOUD GROUP LTD (REGISTERED NUMBER: 13259732) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.3.23 |
As restated |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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 GROUP LTD (REGISTERED NUMBER: 13259732) |
Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
OPEN CLOUD GROUP LTD (REGISTERED NUMBER: 13259732) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Open Cloud Group Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the year-end, the Company had net liabilities equating to (£7,863). The Directors have provided representations that the ultimate parent company, Parable Trust Ltd, will continue to support the Company for a period of 12 months from the date of the signing of the Balance Sheet. On this basis, 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 period 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 April 2022. |
a) Changes in Accounting Policies: |
Deferred tax is now recognised in respect of all timing differences. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the period 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. |
OPEN CLOUD GROUP LTD (REGISTERED NUMBER: 13259732) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
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 period 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.3.23 |
As restated |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.3.23 |
As restated |
£ | £ |
Amounts owed to associates | 5,614 | 1,958 |
Taxation and social security |
Other creditors |
OPEN CLOUD GROUP LTD (REGISTERED NUMBER: 13259732) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 December 2023 and the year ended 31 March 2023: |
31.12.23 | 31.3.23 |
As restated |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
At the year end, the Director, D Webb, was owed by the company £3,339 (2023 : £Nil). |
Loans are repayable on demand. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Open Cloud Group 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 Group Ltd for the period 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 Group 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 Group Ltd and state those matters that we have agreed to state to the Board of Directors of Open Cloud Group 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 Group 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 Group 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 loss of Open Cloud Group Ltd. You consider that Open Cloud Group Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Open Cloud Group 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. |
PO Box 1882 |
Southampton |
Hampshire |
SO15 9JZ |