Company Registration No. 06419505 (England and Wales)
IOPENER HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
IOPENER HOLDINGS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
3
2,000
2,000
Current assets
Debtors
5
190,733
229,497
Creditors: amounts falling due within one year
6
(92,323)
(128,061)
Net current assets
98,410
101,436
Total assets less current liabilities
100,410
103,436
Capital and reserves
Called up share capital
1,384
1,384
Share premium account
178,116
178,116
Profit and loss reserves
(79,090)
(76,064)
Total equity
100,410
103,436
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 March 2021 and are signed on its behalf by:
Mr V Kumar
Director
Company Registration No. 06419505
IOPENER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
1
Accounting policies
Company information
iOpener Holdings Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Prama House, 267 Banbury Road, Summertown, Oxford, OX2 7HT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
A key risk to the future continued going concern of the company are the risks and uncertainties as to the impact of the Covid - 19 outbreak in the UK. As at the date of approving these accounts the directors have assessed the impact of Covid-19 and are satisfied that these accounts continue to be prepared on a going concern basis.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
IOPENER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
2
Employees
2020
2019
Number
Number
Total
3
Fixed asset investments
2020
2019
£
£
Shares in group undertakings and participating interests
2,000
2,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2020 & 31 December 2020
2,000
Carrying amount
At 31 December 2020
2,000
At 31 December 2019
2,000
IOPENER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
4
Subsidiaries
These financial statements are separate company financial statements for iOpener Holdings Limited.
Details of the company's subsidiaries at 31 December 2020 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
iOpener Inst. for People and Performance Limited
England and Wales
Consultancy Services
Ordinary shares
100.00
0
iOpener Limited
England and Wales
Consultancy Services
Ordinary shares
100.00
0
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
iOpener Limited
1,321
-
iOpener Inst. for People and Performance Limited
21,473
49,793
Summary results
The summary results for the groups' operating profits/(losses) before tax, over the last three years, are shown below:
Year ended
Year ended
Year ended
31.12.2019
31.12.2019
31.12.2018
£
£
£
iOpener Holdings Limited
(3,026)
(3,199)
(4,108)
iOpener Limited
1,321
(4,036)
(15,436)
iOpener Inst. for People and Performance Limited
21,473
(7,784)
59,566
19,768
(15,019)
40,022
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
190,733
229,497
IOPENER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 5 -
6
Creditors: amounts falling due within one year
2020
2019
£
£
Other creditors
92,323
128,061