Opened Door Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08403971 (England and Wales)

Unaudited Financial Statements for the Year Ended 28th February 2018

for

Opened Door Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

M Coombes

Mrs E Coombes

REGISTERED OFFICE:

Unit 3

47 Knightsdale Road

Ipswich

Suffolk

IP1 4JJ

REGISTERED NUMBER:

08403971 (England and Wales)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Tangible assets

4

1,025

1,205

CURRENT ASSETS

Cash at bank

1,557

1,864

CREDITORS

Amounts falling due within one year

5

(1,256

)

(1,256

)

NET CURRENT ASSETS

301

608

TOTAL ASSETS LESS CURRENT LIABILITIES

1,326

1,813

PROVISIONS FOR LIABILITIES

(205

)

(241

)

NET ASSETS

1,121

1,572

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,119

1,570

SHAREHOLDERS' FUNDS

1,121

1,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2018 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30th November 2018 and were signed on its behalf by:

M Coombes - Director

1.	STATUTORY INFORMATION

Opened Door 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.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

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.

Financial instruments

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are

readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of

business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged

to customers, including any amounts charged on for third parties.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the

reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an

unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current

liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are

subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount

due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st March 2017

and 28th February 2018

1,917

DEPRECIATION

At 1st March 2017

712

Charge for year

180

At 28th February 2018

892

NET BOOK VALUE

At 28th February 2018

1,025

At 28th February 2017

1,205

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

1,256

1,256

6.	RELATED PARTY DISCLOSURES

At 28th February 2018 the company owed the sum of £1,256 (2017 - £896) to Mr & Mrs M Coombes by way of an interest

free directors current account.

No dividends were paid to directors during the year (2017 - £500).

7.	ULTIMATE CONTROLLING PARTY

Mr and Mrs Coombes, the two directors of the company, are the ultimate controlling party as, between them, they own

100% of the issued share capital.