Openmind Venture Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09482639 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

OPENMIND VENTURE LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

Mr P Patel

REGISTERED OFFICE:

37 West Street

Croydon

Surrey

CR0 1DJ

REGISTERED NUMBER:

09482639 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Openmind Venture Limited for the year ended 30 September 2016 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Openmind Venture Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Openmind Venture Limited and state those matters that we have agreed to state to the director of Openmind Venture Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Openmind Venture Limited director for our work or for this report.

It is your duty to ensure that Openmind Venture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Openmind Venture Limited. You consider that Openmind Venture Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Openmind Venture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

28 June 2017

FIXED ASSETS

Investments

2

68,420

20

CURRENT ASSETS

Debtors

3

76,080

Cash in hand

1,981

3,731

78,061

79,811

CREDITORS

Amounts falling due within one year

4,100

600

NET CURRENT ASSETS

73,961

79,211

TOTAL ASSETS LESS CURRENT
LIABILITIES

142,381

79,231

CREDITORS

Amounts falling due after more than one
year

152,000

81,370

NET LIABILITIES

(9,619

)

(2,139

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(9,719

)

(2,239

)

SHAREHOLDERS' FUNDS

(9,619

)

(2,139

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 June 2017 and were signed by:

Mr P Patel - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Deferred tax

Deferred tax is provided using the liability method in respect of all material timing differences that have

originated but not reversed by the balance sheet date. Deferred tax assets are recognised where it is considered

more likely than not that future profits will be available for offset. The company has not adopted a policy of

discounting deferred tax assets and liabilities.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 October 2015

20

Additions

68,400

At 30 September 2016

68,420

NET BOOK VALUE

At 30 September 2016

68,420

At 30 September 2015

20

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated companies

Sutton Aparthotel Ltd

Nature of business: Letting serviced apartments and hotels

%

Class of shares:

holding

Ordinary A

20.00

2016

2015

£

Aggregate capital and reserves

57,246

10,245

Profit for the year/period

47,001

10,145

20 ordinary A shares at 1.00 per share.

Amber Aparthotel Ltd

Nature of business: Letting serviced apartments and hotels

%

Class of shares:

holding

Ordinary A

20.00

2016

£

Aggregate capital and reserves

279,989

Loss for the year

(62,011

)

200 ordinary A shares at 342.00 per share.

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 75,980 (2015 - £ 75,980 )

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

100

Share capital 1

1

100