Company Registration No. 08873073 (England and Wales)
OpenTRV Limited
Unaudited accounts
for the year ended 28 February 2017
OpenTRV Limited
Unaudited accounts
Contents
OpenTRV Limited
Company Information
for the year ended 28 February 2017
Directors
Mark Hill
Damon Hart-Davis
Company Number
08873073 (England and Wales)
Registered Office
16 Willingham Way
Kingston Upon Thames
Surrey
KT1 3JA
OpenTRV Limited
Statement of financial position
as at
28 February 2017
Cash at bank and in hand
1,534
6,706
Creditors: amounts falling due within one year
(47,169)
(49,245)
Net current liabilities
(17,272)
(23,426)
Net liabilities
(17,271)
(22,376)
Called up share capital
111
111
Share premium
99,989
99,989
Profit and loss account
(117,371)
(122,476)
Shareholders' funds
(17,271)
(22,376)
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 7 November 2017.
Mark Hill
Director
Company Registration No. 08873073
OpenTRV Limited
Notes to the Accounts
for the year ended 28 February 2017
OpenTRV Limited is a private company, limited by shares, registered in England and Wales, registration number 08873073. The registered office and principal place of business is 16 Willingham Way, Kingston Upon Thames, Surrey, KT1 3JA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 28 February 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Cost - 50%
Computer equipment
Cost - 50%
Expenditure on research and development is written off in the year in which it is incurred.
Grants received in respect of expenditure which has already been incurred are recognised in the profit and loss account in the same period.
Grants received in the year £53,517 - The Technology Strategy Board (2016: £19,410 Imperial College and £78,900 The Technology Strategy Board)
OpenTRV Limited
Notes to the Accounts
for the year ended 28 February 2017
4
Tangible fixed assets
Total
At 28 February 2017
1,383
At 28 February 2017
1,382
At 29 February 2016
1,050
5
Share capital
2017
2016
Allotted, called up and fully paid:
22,222 Ordinary shares of £0.005 each
111.11
111.11
6
Average number of employees
During the year the average number of employees was 8 (2016: 7).