RISC OS Developments Ltd |
Accountants' Report |
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Accountants' report to the directors of |
RISC OS Developments Ltd |
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You consider that the company is exempt from an audit for the year ended 30 April 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its income & expenditure for the financial year. |
In accordance with your instructions, we have prepared the accounts which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
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N W Potter & Co |
International Accountants |
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Station House |
Station Road |
Betchworth |
Surrey |
RH3 7BZ |
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29 January 2025 |
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RISC OS Developments Ltd |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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The Company does not trade and has only received share capital, donations and other non-trading funds. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
25% on reducing balance |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated quantifiable impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the income & expenditure account. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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Although there are references to taxation in the Accounts, the Directors consider the Company to be Mutual in accordance with section 1070 of CT 2010 and therefore, subject to approval by HMRC, no tax liability is accounted for. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
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- |
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On the 30th August 2018, RISC OS Developments Ltd bought all of the Shares in Castle Technology Limited thus making that Company a wholly owned subsidiary of RISC OS Developments Ltd. Castle Technology Limited own RISC OS Intellectual Property Rights and in late October 2018, RISC OS 5 was made Open Source and republished under an Apache 2.0. Licence which fully compliments the aims of RISC OS Developments Ltd. Prior to acquisition of the Shares in Castle Technology Limited, RISC OS Developments Ltd made an unsecured loan to Castle Technology Limited of £19,750. On the 23rd April 2020, this loan was converted into 19,750 Ordinary £1 B Shares in Castle Technology Limited which continues to be a wholly owned subsidiary of RISC OS Developments Ltd The total acquisition cost of all Shares in Castle Technology Limited has been £20,002. The Directors of both Companies considered what a realistic valuation of Castle Technology Limited Shares might be and decided that this would be £10,000. The Financial Period of Castle Technology Limited has been changed to 30th April each year and the Balance Sheet as at 30th April 2021 showed shareholders funds to be £10,000. As there have been no material changes during the year to 30th April 2024, this valuation has been retained in the Accounts of both companies as at 30th April 2024. |
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3 |
Related party transactions |
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During the year, there have been financial transactions between RISC OS Developments Ltd and two of the Directors, R A Brown and A J Rawnsley personally, and their associated businesses. These transactions are deemed to be at commercial rates or less where this benefits the Company. |
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4 |
Other information |
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RISC OS Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Rozel, Barling Road |
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Barling Magna |
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Southend on Sea |
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Essex |
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SS3 0LX |