IRIS Accounts Production v24.3.2.46 11449699 Board of Directors 1.1.24 31.12.24 31.12.24 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114496992023-12-31114496992024-12-31114496992024-01-012024-12-31114496992022-12-31114496992023-01-012023-12-31114496992023-12-3111449699ns15:EnglandWales2024-01-012024-12-3111449699ns14:PoundSterling2024-01-012024-12-3111449699ns10:Director12024-01-012024-12-3111449699ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3111449699ns10:SmallEntities2024-01-012024-12-3111449699ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3111449699ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3111449699ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3111449699ns10:FullAccounts2024-01-012024-12-3111449699ns10:OrdinaryShareClass12024-01-012024-12-3111449699ns5:CurrentFinancialInstruments2024-12-3111449699ns5:CurrentFinancialInstruments2023-12-3111449699ns5:ShareCapital2024-12-3111449699ns5:ShareCapital2023-12-3111449699ns5:RetainedEarningsAccumulatedLosses2024-12-3111449699ns5:RetainedEarningsAccumulatedLosses2023-12-3111449699ns10:RegisteredOffice2024-01-012024-12-3111449699ns5:PlantMachinery2023-12-3111449699ns5:PlantMachinery2024-01-012024-12-3111449699ns5:PlantMachinery2024-12-3111449699ns5:PlantMachinery2023-12-3111449699ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3111449699ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3111449699ns5:Secured2024-12-3111449699ns5:Secured2023-12-3111449699ns10:OrdinaryShareClass12024-12-31
REGISTERED NUMBER: 11449699 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

OPEN HILL LIMITED

OPEN HILL LIMITED (REGISTERED NUMBER: 11449699)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


OPEN HILL LIMITED (REGISTERED NUMBER: 11449699)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 862,466 962,466

CURRENT ASSETS
Debtors 5 1,674,986 1,657,795
Cash at bank 29,340 14,662
1,704,326 1,672,457
CREDITORS
Amounts falling due within one year 6 1,680,616 1,931,095
NET CURRENT ASSETS/(LIABILITIES) 23,710 (258,638 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

886,176

703,828

PROVISIONS FOR LIABILITIES 125,569 130,802
NET ASSETS 760,607 573,026

CAPITAL AND RESERVES
Called up share capital 8 7 7
Retained earnings 760,600 573,019
SHAREHOLDERS' FUNDS 760,607 573,026

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





Mr M M Foulger - Director


OPEN HILL LIMITED (REGISTERED NUMBER: 11449699)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Open Hill Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11449699

Registered office: Ingram House
6 Meridian Way
Norwich
Norfolk
NR7 0TA

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - straight line over 15 years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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

OPEN HILL LIMITED (REGISTERED NUMBER: 11449699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 1,500,000
DEPRECIATION
At 1 January 2024 537,534
Charge for year 100,000
At 31 December 2024 637,534
NET BOOK VALUE
At 31 December 2024 862,466
At 31 December 2023 962,466

The company's biomass boilers and RHI Licences were valued by Briggs and Stone, Chartered Surveyors in February 2025 at £1,605,000. This valuation is not included in the company's balance sheet.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,674,986 1,657,795

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,700 2,700
Taxation and social security 78,812 63,346
Other creditors 1,599,104 1,865,049
1,680,616 1,931,095

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,507,411 1,773,605

The loan balance is secured against the company's shares.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
7 Ordinary £1 7 7

9. RELATED PARTY DISCLOSURES

A loan of £1,507,411 (2023 - £1,773,605) from the company's pension scheme, the Orchard House Trustees Pension Scheme, was still outstanding at the balance sheet date. Interest at a rate of 5.47% per annum, was charged on this loan amounting to £53,306 (2023 - £92,651) for the period.

OPEN HILL LIMITED (REGISTERED NUMBER: 11449699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

10. CONTINGENT ASSETS

There are outstanding RHI tariffs due to the company from OFGEM of at least £1,600,000, these will be paid on transfer of the boiler registrations to this company. On receipt of these amounts they will be used to make further repayments of the pension scheme loan.