IRIS Accounts Production Software 08778211 30.11.15 28.11.16 28.11.16 Company accounts Private Limited Company FY true false true false false true false Ordinary 0.010 Ordinary B 0.010 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 08778211 2015-11-29 08778211 2016-11-28 08778211 2015-11-30 2016-11-28 08778211 2014-11-30 08778211 2014-12-01 2015-11-29 08778211 2015-11-29 08778211 ns12:England 2015-11-30 2016-11-28 08778211 ns14:PoundSterling 2015-11-30 2016-11-28 08778211 ns7:Director1 2015-11-30 2016-11-28 08778211 ns7:OrdinaryShareClass1 2015-11-30 2016-11-28 08778211 ns7:OrdinaryShareClass2 2015-11-30 2016-11-28 08778211 ns7:Director2 2015-11-30 2016-11-28 08778211 ns7:RegisteredOffice 2015-11-30 2016-11-28 08778211 ns7:EntityAccountantsOrAuditors 2015-11-30 2016-11-28 08778211 ns5:DevelopmentCosts 2015-11-30 2016-11-28 08778211 ns5:PlantMachinery 2015-11-30 2016-11-28 08778211 ns5:FixturesFittings 2015-11-30 2016-11-28 08778211 ns5:ComputerEquipment 2015-11-30 2016-11-28 08778211 ns7:OrdinaryShareClass1 2016-11-28 08778211 ns7:OrdinaryShareClass1 2015-11-29 08778211 ns7:OrdinaryShareClass2 2016-11-28 08778211 ns7:OrdinaryShareClass2 2015-11-29
REGISTERED NUMBER: 08778211 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 30 NOVEMBER 2015 TO 28 NOVEMBER 2016

FOR

OPEN ACCESS FINANCE LTD

OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211)

CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Period 30 November 2015 to 28 November 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

OPEN ACCESS FINANCE LTD

COMPANY INFORMATION
for the Period 30 November 2015 to 28 November 2016







DIRECTORS: R Haldar
A Parameswaran





REGISTERED OFFICE: 6 Lloyd's Avenue
London
EC3N 3AX





REGISTERED NUMBER: 08778211 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211)

ABBREVIATED BALANCE SHEET
28 November 2016

28.11.16 29.11.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 72,313 90,391
Tangible assets 3 14,997 22,563
87,310 112,954

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 62,901 82,862
Cash at bank 884,826 232,123
949,227 316,485
CREDITORS
Amounts falling due within one year 864,027 14,976
NET CURRENT ASSETS 85,200 301,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,510

414,463

CAPITAL AND RESERVES
Called up share capital 4 4 4
Share premium 999,997 999,997
Profit and loss account (827,491 ) (585,538 )
SHAREHOLDERS' FUNDS 172,510 414,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 November 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 November 2016 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 25 November 2017 and were signed on its behalf
by:





R Haldar - Director


OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Period 30 November 2015 to 28 November 2016


1. ACCOUNTING POLICIES

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 January 2015).

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

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.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

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.

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.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 30 November 2015
and 28 November 2016 90,391
AMORTISATION
Amortisation for period 18,078
At 28 November 2016 18,078
NET BOOK VALUE

At 28 November 2016 72,313
At 29 November 2015 90,391

OPEN ACCESS FINANCE LTD (REGISTERED NUMBER: 08778211)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Period 30 November 2015 to 28 November 2016


3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 30 November 2015
and 28 November 2016 30,266
DEPRECIATION
At 30 November 2015 7,703
Charge for period 7,566
At 28 November 2016 15,269
NET BOOK VALUE
At 28 November 2016 14,997
At 29 November 2015 22,563

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.11.16 29.11.15
value: £    £   
35,686 Ordinary £0.0001 4 4
1,169 Ordinary B £0.0001 - -
4 4

On 25 February 2015, 7,842 Ordinary shares of £0.0001 were issued at £63.76 each.