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REGISTERED NUMBER: 06416372 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Open Fifth Limited

Open Fifth Limited (Registered number: 06416372)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Open Fifth Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: A J Auld
J G Field
N A Curulla
B A Gallagher





SECRETARY: J G Field





REGISTERED OFFICE: The Court The Street
Charmouth
Bridport
Dorset
DT6 6PE





REGISTERED NUMBER: 06416372 (England and Wales)





ACCOUNTANTS: HUB3 LIMITED
Market Place
Crich
Matlock
Derbyshire
DE45DD

Open Fifth Limited (Registered number: 06416372)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,092 10,995

CURRENT ASSETS
Debtors 5 240,185 274,439
Cash at bank 457,261 381,562
697,446 656,001
CREDITORS
Amounts falling due within one year 6 668,894 625,590
NET CURRENT ASSETS 28,552 30,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,644

41,406

CAPITAL AND RESERVES
Called up share capital 90 90
Capital redemption reserve 10 10
Retained earnings 35,544 41,306
35,644 41,406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Open Fifth Limited (Registered number: 06416372)

Balance Sheet - continued
30 November 2024


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 Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by:





J G Field - Director


Open Fifth Limited (Registered number: 06416372)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Open Fifth 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.

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

Revenue is recognised to the extent that it is probable that the economic benefits will floe to the company and the revenue can be reliability measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes. The following criteria must also be met before revenue is recognised:

Turnover in respect of contracts for projects is recognised by reference to the stage of completion. Any amounts which have been invoiced over the current completion value of the project are deferred.

Turnover in respect of hosting and maintenance contracts is recognised on a straight-line basis over the period of the hosting and maintenance contract.

Turnover in respect of the sale of assets is recognised at the date of the completion.

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 - 33% on cost

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

Open Fifth Limited (Registered number: 06416372)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Foreign currency translation
Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical costs are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pension costs and other post-retirement benefits
The company operated a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid, the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administrated funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

Open Fifth Limited (Registered number: 06416372)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 26,331
Additions 3,128
At 30 November 2024 29,459
DEPRECIATION
At 1 December 2023 15,336
Charge for year 7,031
At 30 November 2024 22,367
NET BOOK VALUE
At 30 November 2024 7,092
At 30 November 2023 10,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 159,657 220,954
Other debtors 80,528 53,485
240,185 274,439

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 7,716 3,226
Taxation and social security 110,474 104,993
Other creditors 550,704 517,371
668,894 625,590