Open Connections Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03768227 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

OPEN CONNECTIONS HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

E Fourakis

SECRETARY:

R Strawford

REGISTERED OFFICE:

Second Floor

77 Kingsway

London

WC2B 6SR

REGISTERED NUMBER:

03768227 (England and Wales)

AUDITORS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Investments

3

2

2

CURRENT ASSETS

Debtors

4

1

1

CREDITORS

Amounts falling due within one year

5

2

2

NET CURRENT LIABILITIES

(1

)

(1

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

6

1

1

SHAREHOLDERS' FUNDS

1

1

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 Income Statement has not been delivered.

The financial statements were approved by the director on 12 March 2018 and were signed by:

E Fourakis - Director

1.	STATUTORY INFORMATION

Open Connections Holdings 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

The company was dormant throughout the current year and previous year.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are

measured on initial recognition at transaction price. Debtors and creditors are subsequently

measured at amortised cost using the effective interest rate method. A provision is established

when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in

hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance

with the substance of the contractual arrangements entered into and the definitions of a

financial liability and an equity instrument. An equity instrument is any contract that evidences a

residual interest in the assets of the company after deducting all of its liabilities. Equity

instruments issued by the company are recorded at the proceeds received, net of any direct

issue costs.

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.

Investments

Investments held as fixed assets are stated at cost less provision for impairment in value.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

and 31 December 2017

2

NET BOOK VALUE

At 31 December 2017

2

At 31 December 2016

2

The investment represents the entire issued share capital of Open Connections Solutions

Limited, a company registered in England and Wales.

In the financial year ended 31 December 2017, Open Connections Solutions Limited generated

a loss after tax of £141,489 (2016 - profit of £5,402) and at that date had net assets of £330,374

(2016 - £471,863). Its principal activity is the provision of Enterprise Content Management

(ECM) solutions including the resale of market leading software and the provision of

professional services including consultancy, installation and training.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1

1

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group

undertakings

2

2

2

2

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Coombe FCA (Senior Statutory Auditor)

for and on behalf of Burnside

8.	RELATED PARTY DISCLOSURES

At the year end the company owed £2 (2016 - £2) to Open Connections Solutions Limited, the

immediate subsidiary undertaking.

The controlling party is E Fourakis.