Company Registration No. 11573918 (England and Wales)
Open Edge Construction Ltd
Unaudited accounts
for the year ended 30 June 2024
Open Edge Construction Ltd
Unaudited accounts
Contents
Open Edge Construction Ltd
Company Information
for the year ended 30 June 2024
Director
Danny Steven Farenden
Company Number
11573918 (England and Wales)
Registered Office
Unit 1 Southmill Trading Centre
Bishop's Stortford
CM23 3DY
England
Accountants
Kevin Gibbons MAAT
Virtual Financial Controller Limited
11 Sussex Avenue
Romford
RM3 0TA
Open Edge Construction Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
114,442
146,582
Cash at bank and in hand
14,486
154,344
Creditors: amounts falling due within one year
(78,021)
(94,687)
Net current assets
36,429
178,867
Total assets less current liabilities
150,871
325,449
Creditors: amounts falling due after more than one year
(27,141)
(58,765)
Net assets
123,730
266,684
Called up share capital
1
1
Profit and loss account
123,729
266,683
Shareholders' funds
123,730
266,684
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 June 2025 and were signed on its behalf by
Danny Steven Farenden
Director
Company Registration No. 11573918
Open Edge Construction Ltd
Notes to the Accounts
for the year ended 30 June 2024
Open Edge Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 11573918. The registered office is Unit 1 Southmill Trading Centre, Bishop's Stortford, CM23 3DY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
33% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Open Edge Construction Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
65,021
103,451
2,499
170,971
Additions
11,000
3,400
(2,499)
11,901
Revaluations
(36,823)
-
-
(36,823)
At 30 June 2024
39,198
106,851
-
146,049
At 1 July 2023
12,101
11,150
1,138
24,389
Charge for the year
6,070
14,050
(1,138)
18,982
Surplus on revaluation
(11,764)
-
-
(11,764)
At 30 June 2024
6,407
25,200
-
31,607
At 30 June 2024
32,791
81,651
-
114,442
At 30 June 2023
52,920
92,301
1,361
146,582
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
10,250
-
Amounts falling due within one year
Accrued income and prepayments
451
-
Other debtors
26,594
94,200
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
2,385
-
Taxes and social security
70,353
49,945
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
6,721
-
Other creditors
20,420
58,765
Open Edge Construction Ltd
Notes to the Accounts
for the year ended 30 June 2024
8
Average number of employees
During the year the average number of employees was 2 (2023: 1).