Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07937664 Mr Timothy Sutton Ms Sheena Wylie Mr Garry Turnbull Ms Frances Forrest iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07937664 2022-12-31 07937664 2023-12-31 07937664 2023-01-01 2023-12-31 07937664 frs-core:CurrentFinancialInstruments 2023-12-31 07937664 frs-core:ComputerEquipment 2023-12-31 07937664 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07937664 frs-core:ComputerEquipment 2022-12-31 07937664 frs-core:FurnitureFittings 2023-12-31 07937664 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07937664 frs-core:FurnitureFittings 2022-12-31 07937664 frs-core:MotorVehicles 2023-01-01 2023-12-31 07937664 frs-core:PlantMachinery 2023-01-01 2023-12-31 07937664 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07937664 frs-bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 07937664 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07937664 frs-bus:SmallEntities 2023-01-01 2023-12-31 07937664 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07937664 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07937664 frs-bus:Director1 2023-01-01 2023-12-31 07937664 frs-bus:Director2 2023-01-01 2023-12-31 07937664 frs-bus:Director3 2023-01-01 2023-12-31 07937664 frs-bus:Director4 2023-01-01 2023-12-31 07937664 frs-countries:EnglandWales 2023-01-01 2023-12-31 07937664 2021-12-31 07937664 2022-12-31 07937664 2022-01-01 2022-12-31 07937664 frs-core:CurrentFinancialInstruments 2022-12-31 07937664 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07937664
Open Arts Project
Unaudited Financial Statements
For The Year Ended 31 December 2023
D S Burge & Co Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07937664
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 115 871
115 871
CURRENT ASSETS
Debtors 5 91 -
Cash at bank and in hand 322 640
413 640
Creditors: Amounts Falling Due Within One Year 6 (11,403 ) (18,402 )
NET CURRENT ASSETS (LIABILITIES) (10,990 ) (17,762 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,875 ) (16,891 )
NET LIABILITIES (10,875 ) (16,891 )
Income and Expenditure Account (10,875 ) (16,891 )
MEMBERS' FUNDS (10,875) (16,891)
For the year ending 31 December 2023 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 Income and Expenditure Account.
On behalf of the board
Mr Timothy Sutton
Director
24/09/2024
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Open Arts Project is a private company, limited by guarantee, incorporated in England & Wales, registered number 07937664 . The registered office is 1 Helix Gardens, London, SW2 2JH.
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 4
Motor Vehicles 10
Fixtures & Fittings 4
Computer Equipment 4
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 168 4,630 4,798
Additions 154 - 154
As at 31 December 2023 322 4,630 4,952
Depreciation
As at 1 January 2023 168 3,759 3,927
Provided during the period 39 871 910
As at 31 December 2023 207 4,630 4,837
Net Book Value
As at 31 December 2023 115 - 115
As at 1 January 2023 - 871 871
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 91 -
91 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,583 17,746
Corporation tax - 79
Other creditors 820 577
11,403 18,402
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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