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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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!OBAC UK Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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!OBAC UK Limited |
!OBAC UK Limited (Registered number: 07687209) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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!OBAC UK Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditor |
92 Park Street |
Camberley |
Surrey |
GU15 3NY |
!OBAC UK Limited (Registered number: 07687209) |
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Statement of Financial Position |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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!OBAC UK Limited (Registered number: 07687209) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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!OBAC UK Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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The website is being amortised evenly over its estimated useful life of three years. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Taxation |
Taxation for the year comprises current tax. Tax is recognised in the income statement, except to the extent that |
it relates to items recognised in other comprehensive income or directly in equity. |
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Current tax assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Operating leases |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period |
of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the income statement in the period to which they relate. |
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Going concern |
As at 31 December 2018 the company had net liabilities. The directors are nevertheless of the opinion that the |
going concern basis of accounting remains appropriate, and that the company will continue to operate effectively |
for the foreseeable future, owing in part to the continued financial support of the existing shareholders. The |
directors are also confident of bringing the company's product effectively to market in the near future to generate |
positive working capital, and have secured substantial investment to fund the commercialisation of !OBAC's |
technologies. |
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Foreign currencies |
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the |
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in |
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on |
translation are included in the income statement for the period. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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!OBAC UK Limited (Registered number: 07687209) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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VAT |
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Prepayments |
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!OBAC UK Limited (Registered number: 07687209) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
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Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Other creditors |
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Accruals |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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9. | SECURED DEBTS |
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There is a debenture in place in favour of the company's bank comprising fixed and floating charges over all the |
assets and undertakings of the company. |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | PARENT COMPANY |
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The parent company of the smallest group of which !OBAC UK Limited is a member which prepares consolidated |
accounts is !OBAC Limited, a company registered at 1st and 2nd Floors, Elizabeth House, Les Rueties Brayes, St |
Peter Port, Guernsey, GY1 1EW. |