Open Network Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02992228 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

OPEN NETWORK MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Wright

REGISTERED OFFICE:

36-40 Doncaster Road

Barnsley

South Yorkshire

S70 1TL

REGISTERED NUMBER:

02992228 (England and Wales)

ACCOUNTANTS:

Seaman Herbert & Co

Accountants

36 - 40 Doncaster Road

Barnsley

South Yorkshire

S70 1TL

FIXED ASSETS

Tangible assets

4

872

1,162

CURRENT ASSETS

Debtors

5

-

1,046

Cash at bank

8,642

13,176

8,642

14,222

CREDITORS

Amounts falling due within one year

6

8,200

11,239

NET CURRENT ASSETS

442

2,983

TOTAL ASSETS LESS CURRENT LIABILITIES

1,314

4,145

PROVISIONS FOR LIABILITIES

7

-

310

NET ASSETS

1,314

3,835

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,312

3,833

SHAREHOLDERS' FUNDS

1,314

3,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 30 August 2019 and were signed by:

P Wright - Director

1.	STATUTORY INFORMATION

Open Network Management 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

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.

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 AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2017

and 30 November 2018

5,776

DEPRECIATION

At 1 December 2017

4,614

Charge for year

290

At 30 November 2018

4,904

NET BOOK VALUE

At 30 November 2018

872

At 30 November 2017

1,162

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

-

786

VAT

-

260

-

1,046

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1

-

Directors' current accounts

6,374

3,439

Accrued expenses

1,825

7,800

8,200

11,239

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

-

310

Deferred

tax

£

Balance at 1 December 2017

310

Provided during year

(310

)

Movement

Balance at 30 November 2018

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is P Wright.