Open Network Management Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02992228 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

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

-

368

CURRENT ASSETS

Debtors

5

7,645

7,167

Cash at bank

66,483

57,694

74,128

64,861

CREDITORS

Amounts falling due within one year

6

48,110

37,236

NET CURRENT ASSETS

26,018

27,625

TOTAL ASSETS LESS CURRENT LIABILITIES

26,018

27,993

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

26,016

27,991

SHAREHOLDERS' FUNDS

26,018

27,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 August 2023 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.

Turnover

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

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 Profit and Loss account and Retained Earnings, 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 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2021

and 30 November 2022

5,776

DEPRECIATION

At 1 December 2021

5,408

Charge for year

368

At 30 November 2022

5,776

NET BOOK VALUE

At 30 November 2022

-

At 30 November 2021

368

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

7,000

7,000

VAT

348

167

Prepayments

297

-

7,645

7,167

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

23,101

15,365

Directors' current accounts

21,940

9,969

Accrued expenses

3,069

11,902

48,110

37,236

7.	ULTIMATE CONTROLLING PARTY

The controlling party is P Wright.