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Company Registration No. 11953764 (England and Wales)
Open Conservation Technology Ltd Unaudited accounts for the year ended 30 April 2024
Open Conservation Technology Ltd Unaudited accounts Contents
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Open Conservation Technology Ltd Company Information for the year ended 30 April 2024
Directors
Andrew Peter Hill Peter Christopher Prince Alexander Carl Rogers
Company Number
11953764 (England and Wales)
Registered Office
New Kings Court Tollgate Chandler's Ford Eastleigh SO53 3LG England
Accountants
BrightFin Accounting & Tax 71-75 Shelton Street Covent Garden London WC2H 9JQ
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Open Conservation Technology Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,485 
3,313 
Current assets
Inventories
109,576 
26,591 
Debtors
99,523 
181,602 
Cash at bank and in hand
685,489 
376,267 
894,588 
584,460 
Creditors: amounts falling due within one year
(133,355)
(57,098)
Net current assets
761,233 
527,362 
Net assets
763,718 
530,675 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
763,715 
530,672 
Shareholders' funds
763,718 
530,675 
For the year ending 30 April 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by
Andrew Peter Hill Director Company Registration No. 11953764
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Open Conservation Technology Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Open Conservation Technology Ltd is a private company, limited by shares, registered in England and Wales, registration number 11953764. The registered office is New Kings Court Tollgate, Chandler's Ford, Eastleigh, SO53 3LG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Open Conservation Technology Ltd Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 May 2023
7,252 
At 30 April 2024
7,252 
Depreciation
At 1 May 2023
3,939 
Charge for the year
828 
At 30 April 2024
4,767 
Net book value
At 30 April 2024
2,485 
At 30 April 2023
3,313 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
5,805 
Trade debtors
94,095 
128,053 
Accrued income and prepayments
3,989 
47,744 
Other debtors
1,439 
- 
99,523 
181,602 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
139 
Taxes and social security
128,001 
52,823 
Loans from directors
4,829 
3,611 
Accruals
525 
525 
133,355 
57,098 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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