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Registered number: 07591929
iOpener Inst. For People & Performance Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07591929
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,373 5,132
3,373 5,132
CURRENT ASSETS
Debtors 6 305,318 165,661
Cash at bank and in hand 239,854 328,890
545,172 494,551
Creditors: Amounts Falling Due Within One Year 7 (147,200 ) (258,405 )
NET CURRENT ASSETS (LIABILITIES) 397,972 236,146
TOTAL ASSETS LESS CURRENT LIABILITIES 401,345 241,278
PROVISIONS FOR LIABILITIES
Deferred Taxation (641 ) (999 )
NET ASSETS 400,704 240,279
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 399,704 239,279
SHAREHOLDERS' FUNDS 400,704 240,279
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr V Kumar
Director
1 May 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
iOpener Inst. For People & Performance Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 07591929 . The registered office is 13 St Helens Lane, Leeds, LS16 8AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are related to development costs. They are amortised to the profit and loss account over the estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
2.5. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2022: 5)
5 5
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 43,461
As at 31 December 2023 43,461
Amortisation
As at 1 January 2023 43,461
As at 31 December 2023 43,461
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 722 8,642 9,364
As at 31 December 2023 722 8,642 9,364
Depreciation
As at 1 January 2023 20 4,212 4,232
Provided during the period 241 1,518 1,759
As at 31 December 2023 261 5,730 5,991
Net Book Value
As at 31 December 2023 461 2,912 3,373
As at 1 January 2023 702 4,430 5,132
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 263,591 118,378
Prepayments and accrued income 11,319 9,437
Other debtor balances 9,191 783
Deferred tax current asset 20,601 37,063
Amounts owed by group undertakings 616 -
305,318 165,661
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 72,887 45,693
Other taxes and social security 5,933 11,880
VAT 3,462 8,279
Net wages - 7,228
Other creditors 6,695 5,715
Penions payable 770 33,027
Accruals and deferred income 57,453 34,558
Amounts owed to group undertakings - 112,025
147,200 258,405
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Related Party Transactions
Transactions have been undertaken with the parent company via an intercompany account. The amount owed from iOpener Holdings at the year end amounted to £616 (2022 Amounts owed to iOpener Holdings Limited - £112,0205).
10. Ultimate Parent Undertaking and Controlling Party
The company is a wholly owned subsidiary of iOpener Holdings Limited which was incorporated in England and Wales and owns 100% of the issued share capital.
The ultimate controlling party is Mr V Kumar, a director of both company's, who controls more than 50% of the issued share capital of iOpener Holdings Limited.
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