Abbreviated Company Accounts - OPEN VALLEY LIMITED

Abbreviated Company Accounts - OPEN VALLEY LIMITED

OPEN VALLEY LIMITED - Company Information

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Registered Number 07670144

OPEN VALLEY LIMITED

Abbreviated Accounts

30 June 2016

OPEN VALLEY LIMITED Registered Number 07670144

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 871 1,024
871 1,024
Current assets
Cash at bank and in hand 3,393 3,137
3,393 3,137
Creditors: amounts falling due within one year (3,359) (3,428)
Net current assets (liabilities) 34 (291)
Total assets less current liabilities 905 733
Total net assets (liabilities) 905 733
Capital and reserves
Called up share capital 50 50
Profit and loss account 855 683
Shareholders' funds 905 733
  • For the year ending 30 June 2016 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 March 2017

And signed on their behalf by:
Sohail Akhtar, Director

OPEN VALLEY LIMITED Registered Number 07670144

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standard Board.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery – 15% on reducing balance
Fixture, Fitting and Equipment - 15% on reducing balance

2Tangible fixed assets
£
Cost
At 1 July 2015 1,962
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 1,962
Depreciation
At 1 July 2015 938
Charge for the year 153
On disposals -
At 30 June 2016 1,091
Net book values
At 30 June 2016 871
At 30 June 2015 1,024