Registered number
07811144
Open Road Simulation Limited
Report and Accounts
31 October 2024
Open Road Simulation Limited
Report to the directors on the preparation of the unaudited statutory accounts of Open Road Simulation Limited for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Open Road Simulation Limited for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Ltd
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
30 January 2025
Open Road Simulation Limited
Registered number: 07811144
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 24,946 28,932
Current assets
Cash at bank and in hand 245,116 223,239
Creditors: amounts falling due within one year 4 (43,167) (49,494)
Net current assets 201,949 173,745
Total assets less current liabilities 226,895 202,677
Provisions for liabilities (2,973) (2,973)
Net assets 223,922 199,704
Capital and reserves
Called up share capital 200 200
Profit and loss account 223,722 199,504
Shareholders' funds 223,922 199,704
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A W Stedmon
Director
Approved by the board on 30 January 2025
Open Road Simulation Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
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:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 98,802
Additions 14,797
Disposals (63,677)
At 31 October 2024 49,922
Depreciation
At 1 November 2023 69,870
Charge for the year 1,639
On disposals (46,533)
At 31 October 2024 24,976
Net book value
At 31 October 2024 24,946
At 31 October 2023 28,932
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors (2,742) -
Corporation tax 24,264 24,726
Other taxes and social security costs (4,308) (873)
Other creditors 25,953 25,641
43,167 49,494
5 Other information
Open Road Simulation Limited is a private company limited by shares and incorporated in England. Its registered office is:
97 Nottingham Road
Long Eaton
Nottingham
NG10 2BY
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