Company Registration No. 12745164 (England and Wales)
Open Space Network Ltd
Unaudited accounts
for the year ended 31 July 2025
Open Space Network Ltd
Unaudited accounts
Contents
Open Space Network Ltd
Company Information
for the year ended 31 July 2025
Company Number
12745164 (England and Wales)
Registered Office
119 Bay Tree Road
Bath
BA1 6NF
England
Open Space Network Ltd
Statement of financial position
as at 31 July 2025
Cash at bank and in hand
1,735
5,635
Creditors: amounts falling due within one year
(27,000)
(30,352)
Net current liabilities
(21,653)
(19,774)
Net liabilities
(21,545)
(17,385)
Called up share capital
10
10
Profit and loss account
(21,555)
(17,395)
Shareholders' funds
(21,545)
(17,385)
For the year ending 31 July 2025 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 21 April 2026 and were signed on its behalf by
Matthew Young
Director
Company Registration No. 12745164
Open Space Network Ltd
Notes to the Accounts
for the year ended 31 July 2025
Open Space Network Ltd is a private company, limited by shares, registered in England and Wales, registration number 12745164. The registered office is 119 Bay Tree Road, Bath, BA1 6NF, 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 financial statements have been prepared on a basis other than that of a going concern.
As at the balance sheet date, the company was balance sheet insolvent, with liabilities exceeding the total value of its assets. Following a review of the company's financial position, the directors have determined that the company is unable to continue trading or meet its obligations as they fall due. Consequently, the director has taken the decision to terminate all business activities and close down the company.
Accounting Treatment under the Alternative Basis:
Under this basis of preparation:
All assets are recorded at their net realisable value, which is the directors' best estimate of the amount expected to be recovered on disposal.
No further adjustments to the carrying values of assets or liabilities were deemed necessary to reflect the change in the basis of accounting at the reporting date.
The accounts are presented in £ sterling.
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:
UK Corporation tax payable is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date. deferred taxation is provided using the liability method on all timing differences which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Grant income is shown in the profit and loss account as other operating income.
Turnover represents the amounts invoiced for goods and services, stated net of value added tax.
Open Space Network Ltd
Notes to the Accounts
for the year ended 31 July 2025
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Accrued income and prepayments
-
1,333
6
Creditors: amounts falling due within one year
2025
2024
Amounts owed to group undertakings and other participating interests
15,000
15,000
Loans from directors
12,000
15,000
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
8
Operating lease commitments
2025
2024
At 31 July 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
2,000
Open Space Network Ltd
Notes to the Accounts
for the year ended 31 July 2025
9
Transactions with related parties
Director's Loan
During the year, the company was supported by a loan from Matthew Young. At the balance sheet date, the amount owed to the director was £12,000 (2024: £15,000). This loan is interest-free, unsecured, and has no fixed date for repayment. The director has confirmed that he is unable to provide further financial support and, it is not anticipated that this loan will be repaid.
Parent Company Loan
The company is a subsidiary of Minim Row Ltd, a company incorporated in the UK. At the balance sheet date, the company owed £15,000 (2024: £15,000) to its parent undertaking. This balance is interest-free and repayable on demand. The parent company has confirmed it will no longer provide financial support to the company and it is not anticipated that this loan will be repaid.
The entire share capital of the company is acquired by Minim Row Ltd, a company registered in the UK at 119 Bay Tree Road, Bath, BA1 6NF. Minim Row Ltd is controlled by Mr Young and his spouse.
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Average number of employees
During the year the average number of employees was 0 (2024: 0).