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Registered number: 06230658
Open Exhibitions Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Smallbutcool Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06230658
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,351 27,680
33,351 27,680
CURRENT ASSETS
Stocks 5 4,944 372
Debtors 6 235,694 268,654
Cash at bank and in hand 241,470 437,048
482,108 706,074
Creditors: Amounts Falling Due Within One Year 7 (325,501 ) (430,453 )
NET CURRENT ASSETS (LIABILITIES) 156,607 275,621
TOTAL ASSETS LESS CURRENT LIABILITIES 189,958 303,301
Creditors: Amounts Falling Due After More Than One Year 8 (81,659 ) (151,659 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,432 ) -
NET ASSETS 105,867 151,642
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 105,767 151,542
SHAREHOLDERS' FUNDS 105,867 151,642
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Edwards
Director
26/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Open Exhibitions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06230658 . The registered office is Open House Hawkes Drive, Heathcote Industrial Estate, Warwick, CV34 6LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the value of work done in the accounting period, including estimates of amounts not yet invoiced.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% on cost
Plant & Machinery 10% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
2.7. Taxation
Taxation for the year comprises an estimate of current and deferred tax.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is estimated 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 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 the tax assessments in period 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 81,894 629,803 28,316 39,650
Additions - 17,056 - 3,720
As at 30 June 2024 81,894 646,859 28,316 43,370
Depreciation
As at 1 July 2023 71,311 622,514 28,316 35,383
Provided during the period 3,289 10,060 - 515
As at 30 June 2024 74,600 632,574 28,316 35,898
Net Book Value
As at 30 June 2024 7,294 14,285 - 7,472
As at 1 July 2023 10,583 7,289 - 4,267
Computer Equipment Total
£ £
Cost
As at 1 July 2023 66,955 846,618
Additions - 20,776
As at 30 June 2024 66,955 867,394
Depreciation
As at 1 July 2023 61,414 818,938
Provided during the period 1,241 15,105
As at 30 June 2024 62,655 834,043
Net Book Value
As at 30 June 2024 4,300 33,351
As at 1 July 2023 5,541 27,680
5. Stocks
2024 2023
£ £
Work in progress 4,944 372
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,428 223,145
Prepayments and accrued income 198,204 45,374
Other debtors 62 135
235,694 268,654
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 61,648 55,186
Bank loans and overdrafts 70,007 70,008
Corporation tax 21,247 19,417
Taxation and social security 2,171 2,908
VAT 24,750 58,069
Other creditors 64,653 80,606
Accruals and deferred income 81,025 144,259
325,501 430,453
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 81,659 151,659
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 120,940 142,210
11. Ultimate Controlling Party
The ultimate controlling party is F M Day and D W Edwards.
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