1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,788 149 596 745 1,043 1,639 xbrli:pure xbrli:shares iso4217:GBP 06254749 2023-06-01 2024-05-31 06254749 2024-05-31 06254749 2023-05-31 06254749 2022-06-01 2023-05-31 06254749 2023-05-31 06254749 2022-05-31 06254749 bus:Director1 2023-06-01 2024-05-31 06254749 core:WithinOneYear 2024-05-31 06254749 core:WithinOneYear 2023-05-31 06254749 core:AfterOneYear 2024-05-31 06254749 core:AfterOneYear 2023-05-31 06254749 core:ShareCapital 2024-05-31 06254749 core:ShareCapital 2023-05-31 06254749 core:RetainedEarningsAccumulatedLosses 2024-05-31 06254749 core:RetainedEarningsAccumulatedLosses 2023-05-31 06254749 bus:SmallEntities 2023-06-01 2024-05-31 06254749 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06254749 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06254749 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06254749 bus:FullAccounts 2023-06-01 2024-05-31 06254749 core:ComputerEquipment 2023-06-01 2024-05-31 06254749 core:ComputerEquipment 2024-05-31 06254749 core:ComputerEquipment 2023-05-31
COMPANY REGISTRATION NUMBER: 06254749
Open Here Limited
Filleted Unaudited Financial Statements
31 May 2024
Open Here Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,043
1,639
Current assets
Debtors
6
14,383
17,664
Cash at bank and in hand
8,565
20,027
--------
--------
22,948
37,691
Creditors: amounts falling due within one year
7
16,188
21,023
--------
--------
Net current assets
6,760
16,668
-------
--------
Total assets less current liabilities
7,803
18,307
Creditors: amounts falling due after more than one year
8
7,500
10,417
Provisions
Taxation including deferred tax
198
311
-------
--------
Net assets
105
7,579
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
5
7,479
----
-------
Shareholder funds
105
7,579
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Open Here Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr P Sawyer
Director
Company registration number: 06254749
Open Here Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax except deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 June 2023 and 31 May 2024
1,788
1,788
-------
-------
Depreciation
At 1 June 2023
149
149
Charge for the year
596
596
-------
-------
At 31 May 2024
745
745
-------
-------
Carrying amount
At 31 May 2024
1,043
1,043
-------
-------
At 31 May 2023
1,639
1,639
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
2,280
8,544
Other debtors
12,103
9,120
--------
--------
14,383
17,664
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,000
5,000
Trade creditors
97
Corporation tax
7,352
8,655
Social security and other taxes
2,239
3,912
Other creditors
1,500
3,456
--------
--------
16,188
21,023
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,500
10,417
-------
--------
9. Director's advances, credits and guarantees
An advance of £ 9,004 was made to the director in the accounting period, all of which remained outstanding at the year end (2023 - £nil). The loan was interest free, unsecured and repayable on demand .