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Company Registration No. 13888655 (England and Wales)
OpenDialog AI Limited Unaudited accounts for the period from 2 February 2022 to 30 April 2023
OpenDialog AI Limited Unaudited accounts Contents
Page
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OpenDialog AI Limited Company Information for the period from 2 February 2022 to 30 April 2023
Directors
Ronald Ashri Michael Bobroff Dean Chapman Terence Alexander Walby Edward William Anthony Lascelles
Company Number
13888655 (England and Wales)
Registered Office
7 Savoy Court London WC2R 0EX
Accountants
Barnes & Scott 86-90 Paul Street Shoreditch London EC2A 4NE
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of OpenDialog AI Limited for the period from 2 February 2022 to 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OpenDialog AI Limited for the period from 2 February 2022 to 30 April 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of OpenDialog AI Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of OpenDialog AI Limited and state those matters that we have agreed to state to the Board of Directors of OpenDialog AI Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OpenDialog AI Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OpenDialog AI Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of OpenDialog AI Limited. You consider that OpenDialog AI Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of OpenDialog AI Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street Shoreditch London EC2A 4NE 2 November 2023
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OpenDialog AI Limited Statement of financial position as at 30 April 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
10,220 
Investments
8 
10,228 
Current assets
Debtors
291,918 
Cash at bank and in hand
1,798,577 
2,090,495 
Creditors: amounts falling due within one year
(514,152)
Net current assets
1,576,343 
Net assets
1,586,571 
Capital and reserves
Called up share capital
47 
Share premium
4,016,279 
Profit and loss account
(2,429,755)
Shareholders' funds
1,586,571 
For the period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by
Terence Alexander Walby Director Company Registration No. 13888655
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OpenDialog AI Limited Notes to the Accounts for the period from 2 February 2022 to 30 April 2023
1
Statutory information
OpenDialog AI Limited is a private company, limited by shares, registered in England and Wales, registration number 13888655. The registered office is 7 Savoy Court, London, WC2R 0EX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
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
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis In preparing the financial statements.
Investments
Investments in subsidiary are included at cost.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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OpenDialog AI Limited Notes to the Accounts for the period from 2 February 2022 to 30 April 2023
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 2 February 2022
- 
- 
- 
Additions
590 
12,026 
12,616 
At 30 April 2023
590 
12,026 
12,616 
Depreciation
Charge for the period
37 
2,359 
2,396 
At 30 April 2023
37 
2,359 
2,396 
Net book value
At 30 April 2023
553 
9,667 
10,220 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 2 February 2022
- 
Additions
8 
Valuation at 30 April 2023
8 
6
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
263,513 
Accrued income and prepayments
19,045 
Other debtors
9,360 
291,918 
7
Creditors: amounts falling due within one year
2023 
£ 
VAT
53,029 
Trade creditors
104,441 
Taxes and social security
40,572 
Other creditors
5,891 
Loans from directors
2,412 
Accruals
87,103 
Deferred income
220,704 
514,152 
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OpenDialog AI Limited Notes to the Accounts for the period from 2 February 2022 to 30 April 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Dean Chapman
- 
999 
- 
999 
Terry Walby
- 
1,413 
- 
1,413 
- 
2,412 
- 
2,412 
The director loan is measured at transaction price and is unsecured, interest free and repayable on demand.
9
Average number of employees
During the period the average number of employees was 13.
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