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OPEN NETWORK SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






OPEN NETWORK SERVICES LIMITED (REGISTERED NUMBER: 04362269)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OPEN NETWORK SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: A G Lyne





REGISTERED OFFICE: Devonshire House
Manor Way
Borehamwood
Hertfordshire
WD6 1QQ





REGISTERED NUMBER: 04362269 (England and Wales)





ACCOUNTANTS: Goodier, Smith & Watts Limited
Devonshire House
Manor Way
Borehamwood
Herts
WD6 1QQ

OPEN NETWORK SERVICES LIMITED (REGISTERED NUMBER: 04362269)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 215,348 84,222

CURRENT ASSETS
Debtors 5 897,420 568,692
Cash at bank 42 2,458
897,462 571,150
CREDITORS
Amounts falling due within one year 6 865,891 528,803
NET CURRENT ASSETS 31,571 42,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,919

126,569

CREDITORS
Amounts falling due after more than one
year

7

80,005

12,369
NET ASSETS 166,914 114,200

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 166,814 114,100
SHAREHOLDERS' FUNDS 166,914 114,200

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 NETWORK SERVICES LIMITED (REGISTERED NUMBER: 04362269)

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 director and authorised for issue on 7 November 2024 and were signed by:





A G Lyne - Director


OPEN NETWORK SERVICES LIMITED (REGISTERED NUMBER: 04362269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Open Network Services 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.
Plant and machinery etc - 33% on cost and 25% on cost

Taxation
Taxation for the year 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 24 ) .

OPEN NETWORK SERVICES LIMITED (REGISTERED NUMBER: 04362269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 255,965
Additions 234,735
At 31 January 2024 490,700
DEPRECIATION
At 1 February 2023 171,743
Charge for year 103,609
At 31 January 2024 275,352
NET BOOK VALUE
At 31 January 2024 215,348
At 31 January 2023 84,222

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 687,709 539,776
Other debtors 169,862 28,916
857,571 568,692

Amounts falling due after more than one year:
Other debtors 39,849 -

Aggregate amounts 897,420 568,692

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 145,345 54,671
Hire purchase contracts 17,750 5,498
Trade creditors 20,495 5,442
Taxation and social security 230,963 118,361
Other creditors 451,338 344,831
865,891 528,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 80,005 12,369