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REGISTERED NUMBER: 12897200 (England and Wales)













OMADA TECHNOLOGIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OMADA TECHNOLOGIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr J Vicent
Mr Y Farias





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 12897200 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - 738
Investments 5 6,776,263 6,052,202
6,776,263 6,052,940

CURRENT ASSETS
Debtors 6 198,324 417,681
Cash at bank 12,148 91,339
210,472 509,020
CREDITORS
Amounts falling due within one year 7 7,995,465 60,018
NET CURRENT (LIABILITIES)/ASSETS (7,784,993 ) 449,002
TOTAL ASSETS LESS CURRENT LIABILITIES (1,008,730 ) 6,501,942

CREDITORS
Amounts falling due after more than one
year

8

-

7,298,097
NET LIABILITIES (1,008,730 ) (796,155 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 (1,009,730 ) (797,155 )
(1,008,730 ) (796,155 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr J Vicent - Director


OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Omada Technologies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% straight line on cost

Fixed asset investments
Fixed asset investments are measured and held at fair value.

The fair value of these investments is based on the transaction price that would be received on an open market. If the fair value of investments cannot be measured reliability then the investments are held at cost less impairment.

Investments are reviewed for impairment if events or changes in circumstances indicate that the carrying
amount may not be recoverable. Impairments are calculated such that the carrying value of the fixed asset investment is the lower of its cost or recoverable amount. Recoverable amount is the higher of its net realisable value and its value in use.

Financial liabilities
Financial liabilities are initially measured at fair value and then at amortised cost.
At amortised cost
Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.


OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

Foreign currencies
Transactions in currencies other than the functional currency of the Company are recorded at the rates of exchange prevailing on the dates of the transactions. At each balance sheet date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at closing exchange rates.

Gains and losses arising on retranslation of monetary assets and liabilities are included in the profit and loss account.

Going concern
The Directors have assessed the Company and its wider entities prospects until 30 September 2023, taking into consideration the current operating environment, including the impact of geopolitical and macroeconomic uncertainty and inflationary pressures on markets.
The entity has undergone a significant refinancing and recapitalisation after the year end which has resulted in the satisifaction of several liabilities which were due for payment within the next 12 months of the reporting date..
The Director's have also prepared financial models which considers the entities profit, cash flows, regulatory capital requirements, borrowing covenants and other key financial metrics over the period.
Based on the results of the financial modelling, the Directors expect that the entity will be able to continue in operation and meet its liabilities as they fall due over the 12 months from the approval of the financial statements.
Accordingly, the Directors continue to adopt the going concern basis for the preparation of the financial statements

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 October 2022
and 30 September 2023 2,214
DEPRECIATION
At 1 October 2022 1,476
Charge for year 738
At 30 September 2023 2,214
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 738

5. FIXED ASSET INVESTMENTS

2023 2022
£ £
Other investments not loans 2,796,007 2,628,791
Other loans 3,980,256 3,423,411
6,776,263 6,052,202

Additional information is as follows:
Listed Unlisted
investments investments Totals
£ £ £
COST OR VALUATION
At 1 October 2022 142,839 2,466,247 2,609,086
Additions - 115,048 115,048
Disposals (100,000 ) - (100,000 )
Share of profit/(loss) (14,504 ) - (14,504 )
Revaluations (16,175 ) - (16,175 )
Exchange differences (12,728 ) 187,225 174,497
Dividends received 8,350 - 8,350
At 30 September 2023 7,782 2,768,520 2,776,302
NET BOOK VALUE
At 30 September 2023 7,782 2,768,520 2,776,302
At 30 September 2022 142,839 2,466,247 2,609,086

OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2023 is represented by:

Listed Unlisted
investments investments Totals
£ £ £
Valuation in 2022 142,839 2,466,247 2,609,086
Valuation in 2023 (135,057 ) 302,273 167,216
7,782 2,768,520 2,776,302

Investments (neither listed nor unlisted) were as follows:
2023 2022
£ £
Artwork 19,705 19,705
Other loans
£
At 1 October 2022 3,423,411
New in year 299,000
Other movement 257,845
At 30 September 2023 3,980,256

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors - 151,601
Other debtors 198,324 266,080
198,324 417,681

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Taxation and social security 8,316 26,868
Other creditors 7,987,149 33,150
7,995,465 60,018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Other creditors - 7,298,097

OMADA TECHNOLOGIES LTD (REGISTERED NUMBER: 12897200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


9. RESERVES
Retained
earnings
£

At 1 October 2022 (797,155 )
Deficit for the year (212,575 )
At 30 September 2023 (1,009,730 )

10. POST BALANCE SHEET EVENTS

The long term loan from Accelerated Dynamics X totalling a principal amount of £6,200,000 and had accrued interest of £1,718,096.80 up to the 30th September 2023 was converted into equity in the form of ordinary share capital in Omada Technologies Limited on the 24th November 2024.