OPEN UNIVERSITY EDUCATIONAL ENTERPRISES LTD
(formerly OPEN UNIVERSITY WORLDWIDE LTD)
FINANCIAL STATEMENTS
Period ended 31 July 2002
Registered no. 3221609
OPEN UNIVERSITY EDUCATIONAL ENTERPRISES LTD
BALANCE SHEET AS AT 31 July 2002
2002
£
ASSETS
A. CALLED UP SHARE CAPITAL
NOT PAID
B. FIXED ASSETS
I.
Intangible assets
II. Tangible assets
III. Investments
C. CURRENT ASSETS
I. Stocks
II. Debtors
III. Investments
IV. Cash at bank & Hand
2
====
LIABILITIES
A. CAPITAL AND RESERVES
I.
CALLED UP SHARE CAPITAL
2
II. SHARE PREMIUM ACCOUNT
III. REVALUATION RESERVE
IV. OTHER RESERVE
V. PROFIT AND LOSS ACCOUNT
B. PROVISION FOR LIABILITIES AND
CHARGES
C. CREDITORS
D. ACCRUALS AND DEFERRED INCOME
====
The company was dormant throughout the financial year
Approved by the board of directors on 28 th November 2002
And signed on their behalf by
K. Doncaster (Director)
OPEN UNIVERSITY EDUCATIONAL ENTERPRISES
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 JULY 2002
1.
ACCOUNTING POLICIES
The principal accounting policies adopted in the preparation of the financial statements are set out
below and have been consistently applied within the same accounts.
Basis of preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
The effect of events in relation to the period ended 31 July 2002 which occurred before the date of
approval of the financial statements by the Board of Directors, have been included in the
statements to the extent required to show a true and fair view of the state of affairs at 31 July 2002
and of the results for the period ended on that date.
Stocks
Stocks have been valued at the lower of cost and net realisable value.
Deferred Taxation
Deferred taxation is provided on the liability method to take account of certain items for accounts
purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in
respect of all material timing differences to the extent that it is considered that a net liability may
crystallise.
2.
SHARE CAPITAL
Authorised
100 ordinary shares of £1 each