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REGISTERED NUMBER: 14583521 (England and Wales)















Unaudited Financial Statements

for the Period 10 January 2023 to 31 January 2024

for

Open Trade Technology Ltd

Open Trade Technology Ltd (Registered number: 14583521)






Contents of the Financial Statements
for the Period 10 January 2023 to 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Open Trade Technology Ltd (Registered number: 14583521)

Balance Sheet
31 January 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 2,214

CURRENT ASSETS
Debtors 5 108,062
Cash at bank 232,166
340,228
CREDITORS
Amounts falling due within one year 6 462,800
NET CURRENT LIABILITIES (122,572 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(120,358

)

CAPITAL AND RESERVES
Called up share capital 4,706
Other reserves 7 1,109,792
Retained earnings 7 (1,234,856 )
(120,358 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 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 Trade Technology Ltd (Registered number: 14583521)

Balance Sheet - continued
31 January 2024


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 7 October 2024 and were signed on its behalf by:




Mr D M Sutter Jr - Director Mr J H Handler - Director




Mr T Niermann - Director


Open Trade Technology Ltd (Registered number: 14583521)

Notes to the Financial Statements
for the Period 10 January 2023 to 31 January 2024

1. STATUTORY INFORMATION

Open Trade Technology Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 14583521 and its registered address is 3rd Floor 1 Ashley Road, Altrincham, Cheshire, United Kingdom, WA14 2DT.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable to the Micro-entities Regime.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.

Turnover
Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

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 - 33% on cost
Computer equipment - 33% on cost

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 Trade Technology Ltd (Registered number: 14583521)

Notes to the Financial Statements - continued
for the Period 10 January 2023 to 31 January 2024

2. 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.

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 makes payments to a defined contribution pension scheme. Contributions payable to the 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 period was 2 .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 536 2,357 2,893
At 31 January 2024 536 2,357 2,893
DEPRECIATION
Charge for period 76 603 679
At 31 January 2024 76 603 679
NET BOOK VALUE
At 31 January 2024 460 1,754 2,214

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 108,062

Open Trade Technology Ltd (Registered number: 14583521)

Notes to the Financial Statements - continued
for the Period 10 January 2023 to 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 54
Trade creditors 81,358
Other creditors 381,388
462,800

7. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

Deficit for the period (1,234,856 ) (1,234,856 )
Advance share agreement - 1,109,792 1,109,792
At 31 January 2024 (1,234,856 ) 1,109,792 (125,064 )

8. OFF-BALANCE SHEET ARRANGEMENTS

Other Reserves include £1,109,792 from Advance Subscription Agreements for equity. On February 16, 2024, 25,205 shares matured at a price of £379.88 per share, resulting in the allotment of new shares and an increase in share capital. The remaining balance of £1,014,409 has not yet matured.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within the year end debtors balance is an amount due to the company from Mr D Sutter of £16,343. Throughout the year, total withdrawal of funds amounted to £16,258. The outstanding balance is unsecured, repayable on demand and subject to interest at HMRC's official interest rate.

Included within the year end debtors balance is an amount due to the company from Mr J Handler of £400. Throughout the year, total withdrawal of funds amounted to £400. The outstanding balance is unsecured, repayable on demand and not subject to interest.