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REGISTERED NUMBER: 05170410 (England and Wales)












OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED

Unaudited Financial Statements

for the Year Ended 31 October 2024






OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED (REGISTERED NUMBER: 05170410)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED

Company Information
for the Year Ended 31 October 2024







Director: R Milicevic





Registered office: Np-105 Icentre Howard Way,
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY





Registered number: 05170410 (England and Wales)





Accountants: Michael Price Associates Ltd
NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY

OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED (REGISTERED NUMBER: 05170410)

Balance Sheet
31 October 2024

31/10/24 31/10/23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 1,226 1,788

Current assets
Stocks 9,000 -
Debtors 5 58,718 12,456
Cash at bank 6 13,232 21,003
80,950 33,459
Creditors
Amounts falling due within one year 7 102,664 15,775
Net current (liabilities)/assets (21,714 ) 17,684
Total assets less current liabilities (20,488 ) 19,472

Creditors
Amounts falling due after more than one year 8 12,728 22,354
Net liabilities (33,216 ) (2,882 )

Capital and reserves
Called up share capital 100 100
Retained earnings (33,316 ) (2,982 )
(33,216 ) (2,882 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 19 February 2025 and were signed by:





R Milicevic - Director


OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED (REGISTERED NUMBER: 05170410)

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

1. Statutory information

Open Architecture And Technology For Entrances 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discount, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the normal amount received as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measures reliably, it is probable that the economic benefits associates with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation on assets less their residual values over their useful lives on the following bases:

Computer software is being amortised evenly over its estimated useful life of 10 years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Insturments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED (REGISTERED NUMBER: 05170410)

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

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 November 2023
and 31 October 2024 5,615
Amortisation
At 1 November 2023 3,827
Charge for year 562
At 31 October 2024 4,389
Net book value
At 31 October 2024 1,226
At 31 October 2023 1,788

5. Debtors: amounts falling due within one year
31/10/24 31/10/23
£    £   
Trade debtors 56,008 7,149
Amounts owed by participating interests - 982
Other debtors 1,642 4,325
Prepayments 1,068 -
58,718 12,456

6. Cash at bank

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

7. Creditors: amounts falling due within one year
31/10/24 31/10/23
£    £   
Bank loans and overdrafts 9,626 10,125
Trade creditors 16,508 2,400
Amounts owed to participating interests 17,980 -
Social security and other taxes 37,827 -
Pension Payable 2,868 -
VAT 17,855 -
Accruals - 3,250
102,664 15,775

8. Creditors: amounts falling due after more than one year
31/10/24 31/10/23
£    £   
Bank loan - more than 1 year 12,728 22,354

9. Ultimate controlling party

The controlling party is Integrasol Limited.

OPEN ARCHITECTURE AND TECHNOLOGY FOR
ENTRANCES LIMITED (REGISTERED NUMBER: 05170410)

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

10. Going concern

The directors and management are not aware of any material uncertainties, which may cast doubt on the company's ability to continue as a going concern. The shareholders have expressed their continuing support for the company as at the balance sheet date and for the foreseeable future.

11. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.