RISC OS Developments Ltd
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Registered number: |
10709520
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Directors' Report |
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The directors present their report and accounts for the year ended 30 April 2020. |
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Principal activities |
The principal activity of the Company is to encourage and support the ongoing development of RISC OS. This activity includes the receipt of share capital, donations and other non-trading funds. Payments are made of Bounties and other development costs to individuals and businesses to develop and improve RISC OS. The Company will not Trade in the usual sense and there is no intention to make distributable profits from the principal activities in the foreseeable future. Under these circumstances, the Directors consider the Company to be a Mutual entity.
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Directors |
The following persons served as directors during the year: |
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R A Brown
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A J Rawnsley
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M J H Simons (Appointed 21st May 2019)
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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This report was approved by the board on 1 February 2021 and signed on its behalf. |
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R A Brown |
Director |
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RISC OS Developments Ltd |
Accountants' Report |
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Accountants' report to the directors of |
RISC OS Developments Ltd |
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You consider that the company is exempt from an audit for the year ended 30 April 2020. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its income & expenditure for the financial year. |
In accordance with your instructions, we have prepared the accounts which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
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N W Potter & Co |
International Accountants |
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Station House |
Station Road |
Betchworth |
Surrey |
RH3 7BZ |
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1 February 2021 |
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RISC OS Developments Ltd
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Registered number: |
10709520
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Balance Sheet |
as at 30 April 2020
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Notes |
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2020 |
2020 |
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2019 |
2019 |
£ |
£ |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
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1,122 |
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1,261 |
Investments |
4 |
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10,000 |
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252 |
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11,122 |
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1,513 |
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Current assets |
Debtors |
5 |
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- |
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19,750 |
Cash at bank and in hand |
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73,552 |
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70,968 |
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73,552 |
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90,718 |
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Creditors: amounts falling due within one year |
7 |
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(66,100) |
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(65,500) |
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Net current assets |
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7,452 |
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25,218 |
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Net assets |
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18,574 |
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26,731 |
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Capital and reserves |
Called up share capital |
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30,002 |
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30,002 |
Income and expenditure account |
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(11,428) |
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(3,271) |
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Shareholders' funds |
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18,574 |
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26,731 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
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R A Brown |
Director |
Approved by the board on 1 February 2021
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RISC OS Developments Ltd
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Notes to the Accounts |
for the year ended 30 April 2020
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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The Company does not trade and has only received share capital, donations and other non-trading funds.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
25% on reducing balance |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the income & expenditure account.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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Although there are references to taxation in the Accounts, the Directors consider the Company to be Mutual in accordance with section 1070 of CT 2010 and therefore, subject to approval by HMRC, no tax liability is accounted for.
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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 May 2019 |
1,680 |
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Additions |
234 |
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At 30 April 2020 |
1,914 |
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Depreciation |
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At 1 May 2019 |
419 |
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Charge for the year |
373 |
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At 30 April 2020 |
792 |
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Net book value |
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At 30 April 2020 |
1,122 |
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At 30 April 2019 |
1,261 |
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4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 May 2019 |
252 |
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Additions |
19,750 |
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Revaluation |
(10,002) |
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At 30 April 2020 |
10,000 |
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On the 30th August 2018, RISC OS Developments Ltd bought all of the Shares in Castle Technology Limited thus making that Company a wholly owned subsidiary of RISC OS Developments Ltd. Castle Technology Limited own RISC OS Intellectual Property Rights and in late October 2018, RISC OS 5 was made Open Source and republished under an Apache 2.0. Licence which fully compliments the aims of RISC OS Developments Ltd. Prior to acquisition of the Shares in Castle Technology Limited, RISC OS Developments Ltd made an unsecured loan to Castle Technology Limited of £19,750. On the 23rd April 2020, this loan was converted into 19,750 Ordinary £1 B Shares in Castle Technology Limited which continues to be a wholly owned subsidiary of RISC OS Developments Ltd The total acquisition cost of Shares in Castle Technology Limited has been £20,002. The Directors of both Companies have considered what a realistic valuation of Castle Technology Limited Shares might be and decided that this would be £10,000. The Financial Period of Castle Technology Limited has been changed to 30th April each year and the Balance Sheet as at 30th April 2020 shows shareholders funds to be £10,000 so this has been reflected in the valuation of the investment as at 30th April 2020 in RISC OS Developments Ltd. |
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5 |
Debtors |
2020 |
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2019 |
£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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- |
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19,750 |
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6 |
Investments held as current assets |
2020 |
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2019 |
£ |
£ |
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Fair value (see note 6) |
- |
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- |
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Increase/(decrease) in fair value included in the income & expenditure account for the financial year |
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Unlisted investments |
(10,002) |
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- |
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7 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
£ |
£ |
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Share monies to be allocated |
64,900 |
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64,900 |
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Other creditors |
1,200 |
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600 |
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66,100 |
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65,500 |
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As at the 30th April 2020, £64,900 was still retained pending issue of further shares in the Company. On the 6th May 2020, 1 'A' Share and 44,999 'B' Shares were allotted and issued at £1 each. On the 5th August 2020, a further 19,900 'B' Shares were allotted and issued at £1 each. This allocates all of the £64,900 to issued share capital. |
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8 |
Related party transactions |
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During the year, there have been financial transactions between RISC OS Developments Ltd and the three Directors, R A Brown, A J Rawnsley & M Simons, their associated businesses and family members. These transactions are deemed to be at commercial rates or less where this benefits the Company.
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9 |
Other information |
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RISC OS Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Rozel, Barling Road |
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Barling Magna |
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Southend on Sea |
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Essex |
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SS3 0LX |