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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 |
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OPENBRIX LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 |
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FOR |
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OPENBRIX LTD |
OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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OPENBRIX LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Boyce's Building |
40-42 Regent Street |
Clifton |
Bristol |
BS8 4HU |
OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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BALANCE SHEET |
30 APRIL 2021 |
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30.4.21 | 30.4.20 |
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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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BALANCE SHEET - continued |
30 APRIL 2021 |
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30.4.21 | 30.4.20 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Share option reserve |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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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 and authorised for issue on
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OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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1. | STATUTORY INFORMATION |
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Openbrix Ltd is a
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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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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred 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 or deferred taxation 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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 May 2020 |
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Additions |
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At 30 April 2021 |
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AMORTISATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
Additions |
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At 30 April 2021 |
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DEPRECIATION |
Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.21 | 30.4.20 |
£ | £ |
Other debtors |
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Tax |
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VAT |
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Deferred tax asset |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.21 | 30.4.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Directors' current accounts | 3,600 | 3,600 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.4.21 | 30.4.20 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,667 | - |
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9. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 30.4.21 | 30.4.20 |
value: | £ | £ |
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Ordinary | £0.00001 | 15 | 14 |
OPENBRIX LTD (REGISTERED NUMBER: 11305881) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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9. | CALLED UP SHARE CAPITAL - continued |
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During the year 138,250 Ordinary shares having an aggregate nominal value of £1 were issued for an aggregate consideration of £412,182. |
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10. | RELATED PARTY DISCLOSURES |
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The company maintains an interest free loan account with its directors. At the year end, the company owed £3,600 to its directors. |
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Unless otherwise stated, all transactions with related parties were conducted under normal market conditions. |
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11. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |
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12. | SHARE-BASED PAYMENT TRANSACTIONS |
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Share options were granted to certain employees and members of management. The options vested immediately and do not expire. The options will be settled via issues of equity. |
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The movements in the number of share options during the year were as follows: |
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2021 | 2020 |
Number | Number |
Outstanding at start of period | 42,000 | - |
Granted during the period | 32,000 | 42,000 |
Forfeited during the period | - | - |
Expired during the period | - | - |
Outstanding at end of period | 74,000 | 42,000 |
Exercisable at end of period | 74,000 | 42,000 |
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The movements in the weighted average exercise price of share options during the year were as follows: |
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2021 | 2020 |
£ | £ |
Outstanding at start of period | 2.78 | - |
Granted during the period | 2.71 | 2.78 |
Forfeited during the period | - | - |
Expired during the period | - | - |
Outstanding at end of period | 2.75 | 2.78 |
Exercisable at end of period | 2.75 | 2.78 |