Opencourt Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04358739 (England and Wales)

Opencourt Limited

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G L Howell

Mrs J L Howell

SECRETARY:

Mrs J L Howell

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04358739 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

HSBC Bank plc

62 George White Street

Cabot Circus

Bristol

BS1 3BA

FIXED ASSETS

Tangible assets

2

256

137

Investment property

3

106,873

250,448

107,129

250,585

CURRENT ASSETS

Debtors

270

552

Cash at bank

141,081

24,943

141,351

25,495

CREDITORS

Amounts falling due within one year

30,475

28,847

NET CURRENT ASSETS/(LIABILITIES)

110,876

(3,352

)

TOTAL ASSETS LESS CURRENT LIABILITIES

218,005

247,233

PROVISIONS FOR LIABILITIES

51

27

NET ASSETS

217,954

247,206

CAPITAL AND RESERVES

Called up share capital

4

8

8

Profit and loss account

217,946

247,198

SHAREHOLDERS' FUNDS

217,954

247,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 2 January 2015 and were signed on its behalf by:

G L Howell - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards and estimation

techniques.

Accounting convention

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

Companies Act 2006 and applicable standards within the UK, as modified by the valuation of properties held for

investments. Compliance with Statement of Standard Accounting Practice Number 19 (SSAP 19) - Accounting

for Investment Properties requires departure from the requirement of the Companies Act 2006 relating to

depreciation as explained below

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

50% on cost

Motor vehicles

-

50% on cost

Computer equipment

-

33% on cost

In accordance with SSAP 19, no depreciation or amortisation is provided on the Freehold Investment Properties.

This departure from the requirements of the Companies Act 2006, for all properties to be depreciated is, in the

opinion of the directors, necessary for the financial statements to give a true and fair view in accordance with

applicable accounting standards, as properties are included in the financial statements at their open market value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

16,832

Additions

384

At 31 May 2014

17,216

DEPRECIATION

At 1 June 2013

16,695

Charge for year

265

At 31 May 2014

16,960

NET BOOK VALUE

At 31 May 2014

256

At 31 May 2013

137

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 June 2013

250,448

Disposals

(143,575

)

At 31 May 2014

106,873

NET BOOK VALUE

At 31 May 2014

106,873

At 31 May 2013

250,448

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

4

Ordinary

£1

4

8

4

'A' Ordinary

£1

4

-

8

8

On 05/06/13 4 Ordinary shares were reclassified as 4 'A' Ordinary shares.

All classes of share shall rank pari passu in all respects.