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REGISTERED NUMBER: 09182464 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Open Online Limited

Open Online Limited (Registered number: 09182464)






Contents of the Financial Statements
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Open Online Limited

Company Information
for the Year Ended 30 APRIL 2024







DIRECTORS: J Harris-Cohen
S Cove
Mrs N Cove





REGISTERED OFFICE: Suite 1 , Europa House
13 Marsham Way
Gerrards Cross
Buckinghamshire
SL9 8BQ





REGISTERED NUMBER: 09182464 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

Open Online Limited (Registered number: 09182464)

Balance Sheet
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,360 1,815

CURRENT ASSETS
Stock of properties 5 666,307 1,224,306
Debtors 6 16,201 12,893
Cash at bank 874 2,947
683,382 1,240,146
CREDITORS
Amounts falling due within one year 7 1,032,338 1,496,997
NET CURRENT LIABILITIES (348,956 ) (256,851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(347,596

)

(255,036

)

CREDITORS
Amounts falling due after more than one year 8 34,760 41,615
NET LIABILITIES (382,356 ) (296,651 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (382,456 ) (296,751 )
SHAREHOLDERS' FUNDS (382,356 ) (296,651 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Online Limited (Registered number: 09182464)

Balance Sheet - continued
30 APRIL 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 16 January 2025 and were signed on its behalf by:





J Harris-Cohen - Director


Open Online Limited (Registered number: 09182464)

Notes to the Financial Statements
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

Open Online 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 represents sales of properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Stocks
Stock of properties are valued at the lower of cost and net realisable value.

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 3 (2023 - 2 ) .

Open Online Limited (Registered number: 09182464)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 12,100
DEPRECIATION
At 1 May 2023 10,285
Charge for year 455
At 30 April 2024 10,740
NET BOOK VALUE
At 30 April 2024 1,360
At 30 April 2023 1,815

5. STOCK OF PROPERTIES
30.4.24 30.4.23
£    £   
Stock of properties 666,307 1,224,306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 5,500 5,500
VAT 10,701 7,393
16,201 12,893

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 9) 610,756 768,742
Trade creditors 23,782 604
Other creditors 396,599 725,252
Accrued expenses 1,201 2,399
1,032,338 1,496,997

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 9) 34,760 41,615

Open Online Limited (Registered number: 09182464)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.4.24 30.4.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,767 14,622

9. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 610,756 768,742

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,748 6,748

Amounts falling due between two and five years:
Bank loans - 2-5 years 20,245 20,245

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,767 14,622

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loan 604,008 761,994

The bank loan is secured by a charge on the stock of property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

Open Online Limited (Registered number: 09182464)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024

12. RESERVES
Retained
earnings
£   

At 1 May 2023 (296,751 )
Deficit for the year (85,705 )
At 30 April 2024 (382,456 )

13. RELATED PARTY DISCLOSURES

Other creditors of £396,599 (2023: £722,942) is an amount due to Open Property Finance Limited of which both J Harris-Cohen and S Cove are directors and shareholders.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Open Online Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Open Online Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Open Online Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Open Online Limited and state those matters that we have agreed to state to the Board of Directors of Open Online Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Open Online Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Open Online Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Open Online Limited. You consider that Open Online Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Open Online Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW


Date: .............................................