REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE PERIOD 1 DECEMBER 2014 TO 29 NOVEMBER 2015 |
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FOR |
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OPEN ACCESS FINANCE LTD |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE PERIOD 1 DECEMBER 2014 TO 29 NOVEMBER 2015 |
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FOR |
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OPEN ACCESS FINANCE LTD |
OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Period 1 December 2014 to 29 November 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
OPEN ACCESS FINANCE LTD |
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COMPANY INFORMATION |
for the Period 1 December 2014 to 29 November 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211) |
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ABBREVIATED BALANCE SHEET |
29 November 2015 |
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29.11.15 | 30.11.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Share premium |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the Board of Directors on
by: |
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OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the Period 1 December 2014 to 29 November 2015 |
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1. | ACCOUNTING POLICIES |
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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 April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Website development |
Expenditure on website development is charged to profit and loss account in the year in which it is incurred with |
the exception of expenditure on the development of certain major new product projects. Such expenditure is only |
recognised where it is probable that future economic benefits that are attributable to the project will flow to the |
entity and that the cost of the project can be measured reliably. Such expenditure is capitalised and amortised |
over a period of five years commencing in the year sales of the product are first made. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Deferred tax |
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the |
recognition of gains and losses in the financial statements and recognition in the tax computation. A net |
deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable |
taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax |
assets and liabilities are calculated at tax rates expected to be effective at the time the differences are expected |
to reverse. Deferred tax assets and liabilities are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 December 2014 |
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Additions |
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At 29 November 2015 |
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NET BOOK VALUE |
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At 29 November 2015 |
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At 30 November 2014 |
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OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Period 1 December 2014 to 29 November 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 December 2014 |
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Additions |
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At 29 November 2015 |
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DEPRECIATION |
At 1 December 2014 |
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Charge for period |
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At 29 November 2015 |
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NET BOOK VALUE |
At 29 November 2015 |
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At 30 November 2014 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.11.15 | 30.11.14 |
value: | £ | £ |
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Ordinary | £0.0001 |
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Ordinary B | £0.0001 |
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4 | 3 |
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On 25 February 2015, 7,842 Ordinary shares of £0.0001 were issued at £63.76 each. |