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REGISTERED NUMBER: 04890498 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Openstudio Architects Limited

Openstudio Architects Limited (Registered number: 04890498)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Openstudio Architects Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Beningfield





REGISTERED OFFICE: 277-279 Chiswick High Road
Chiswick
London
W4 4PU





REGISTERED NUMBER: 04890498 (England and Wales)





ACCOUNTANTS: Freeman Carr
Chartered Certified Accountants
The Gatehouse
2 Devonhurst Place
Heathfield Terrace
Chiswick
London
W4 4JD

Openstudio Architects Limited (Registered number: 04890498)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,956 1,213

CURRENT ASSETS
Debtors 5 75,464 5,266
Cash at bank 569,773 473,275
645,237 478,541
CREDITORS
Amounts falling due within one year 6 100,643 19,921
NET CURRENT ASSETS 544,594 458,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

571,550

459,833

PROVISIONS FOR LIABILITIES 6,739 -
NET ASSETS 564,811 459,833

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 564,810 459,832
SHAREHOLDERS' FUNDS 564,811 459,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





J Beningfield - Director


Openstudio Architects Limited (Registered number: 04890498)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Openstudio Architects 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.

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 - 25% on reducing balance
Office equipment - 25% on reducing balance

Financial instruments
The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like cash and bank balances, trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Openstudio Architects Limited (Registered number: 04890498)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 20,853 1,994 22,847
Additions 4,409 30,320 34,729
At 31 March 2024 25,262 32,314 57,576
DEPRECIATION
At 1 April 2023 19,640 1,994 21,634
Charge for year 1,406 7,580 8,986
At 31 March 2024 21,046 9,574 30,620
NET BOOK VALUE
At 31 March 2024 4,216 22,740 26,956
At 31 March 2023 1,213 - 1,213

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 70,198 -
Other debtors 5,266 5,266
75,464 5,266

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,108 1,382
Taxation and social security 95,390 13,762
Other creditors 3,145 4,777
100,643 19,921