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REGISTERED NUMBER: 11974205 (England and Wales)












Open Trading Network Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Open Trading Network Limited (Registered number: 11974205)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Open Trading Network Limited

Company Information
for the Year Ended 31 March 2024







Directors: D M Regan
C Woolliscroft
W Baker
Ms C L Gluyas





Registered office: East View
Upton
Caldbeck
Cumbria
CA7 8EU





Registered number: 11974205 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Open Trading Network Limited (Registered number: 11974205)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 22,456 20,509

Current assets
Debtors 5 757,957 447,781
Cash at bank 231,441 475,074
989,398 922,855
Creditors
Amounts falling due within one year 6 613,929 565,415
Net current assets 375,469 357,440
Total assets less current liabilities 397,925 377,949

Provisions for liabilities 4,767 3,038
Net assets 393,158 374,911

Capital and reserves
Called up share capital 80 80
Retained earnings 393,078 374,831
Shareholders' funds 393,158 374,911

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 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 Trading Network Limited (Registered number: 11974205)

Balance Sheet - continued
31 March 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 25 November 2024 and were signed on its behalf by:





D M Regan - Director


Open Trading Network Limited (Registered number: 11974205)

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

1. Statutory information

Open Trading Network 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 - 25% on reducing balance

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 does not operate a company pension scheme but makes contributions to a personal pension scheme of the director. Contributions payable for the year are charged in the profit and loss account.

Fixed asset investments
Fixed asset investments are stated at fair value. Changes in fair value are recognised in profit or loss.

3. Employees and directors

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

Open Trading Network Limited (Registered number: 11974205)

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

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 April 2023 35,123
Additions 10,774
Disposals (2,284 )
At 31 March 2024 43,613
Depreciation
At 1 April 2023 14,614
Charge for year 7,764
Eliminated on disposal (1,221 )
At 31 March 2024 21,157
Net book value
At 31 March 2024 22,456
At 31 March 2023 20,509

5. Debtors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Trade debtors 757,835 447,196
Other debtors 122 585
757,957 447,781

6. Creditors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Trade creditors 184,086 253,115
Taxation and social security 423,535 306,597
Other creditors 6,308 5,703
613,929 565,415

Open Trading Network Limited (Registered number: 11974205)

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

7. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
W Baker
Balance outstanding at start of year 547 -
Amounts advanced - 547
Amounts repaid (547 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 547

The loan was unsecured, interest free and has been fully repaid during the year.