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REGISTERED NUMBER: 06580946 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th February 2024

for

Openbay Limited

Openbay Limited (Registered number: 06580946)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Openbay Limited

Company Information
for the Year Ended 29th February 2024







DIRECTOR: C L H Clark





SECRETARY: C L H Clark





REGISTERED OFFICE: 97
50 Kensington Gardens Sqaure
London
London
W2 4BA





REGISTERED NUMBER: 06580946 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Openbay Limited (Registered number: 06580946)

Balance Sheet
29th February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 7,766 7,766

CURRENT ASSETS
Debtors 5 23,231 1,169
Cash in hand 28,135 49,327
51,366 50,496
CREDITORS
Amounts falling due within one year 6 2,466 10,210
NET CURRENT ASSETS 48,900 40,286
TOTAL ASSETS LESS CURRENT LIABILITIES 56,666 48,052

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 56,664 48,050
56,666 48,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

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 27th November 2024 and were signed by:





C L H Clark - Director


Openbay Limited (Registered number: 06580946)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Openbay 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2023
and 29th February 2024 7,766
NET BOOK VALUE
At 29th February 2024 7,766
At 28th February 2023 7,766

Openbay Limited (Registered number: 06580946)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 10,397 -
Other debtors 12,834 -
VAT - 1,169
23,231 1,169

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Social security and other taxes - 7
Other creditors 216 225
Directors' current accounts - 7,156
Accrued expenses 2,250 2,822
2,466 10,210