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Registered number: 09626599
OYNB Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09626599
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 337 662
Tangible Assets 5 3,022 5,867
Investments 6 2,668 -
6,027 6,529
CURRENT ASSETS
Debtors 7 35,582 27,373
Cash at bank and in hand 161,182 161,290
196,764 188,663
Creditors: Amounts Falling Due Within One Year 8 (961,246 ) (244,980 )
NET CURRENT ASSETS (LIABILITIES) (764,482 ) (56,317 )
TOTAL ASSETS LESS CURRENT LIABILITIES (758,455 ) (49,788 )
Creditors: Amounts Falling Due After More Than One Year 9 (244,854 ) -
NET LIABILITIES (1,003,309 ) (49,788 )
CAPITAL AND RESERVES
Called up share capital 10 291 291
Share premium account 4,679,108 4,679,108
Profit and Loss Account (5,682,708 ) (4,729,187 )
SHAREHOLDERS' FUNDS (1,003,309) (49,788)
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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 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.
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 Ruari Fairbairns
Director
18/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
OYNB Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09626599 . The registered office is 71-75 Shelton Street Covent Garden, London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
These financial statements have been prepared on the basis that the company will continue to be a going concern. The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 rendering of services. 
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.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are Trade Marks It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.5. 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 25% Straight Line
Computer Equipment 25% Straight Line
2.6. 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.
2.7. 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.
...CONTINUED
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2.7. Taxation - continued
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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 6)
4 6
4. Intangible Assets
Development Costs Intellectual Property Total
£ £ £
Cost
As at 1 January 2023 82,496 1,388 83,884
Disposals (744) - (744 )
As at 31 December 2023 81,752 1,388 83,140
Amortisation
As at 1 January 2023 82,496 726 83,222
Provided during the period - 325 325
Disposals (744 ) - (744 )
As at 31 December 2023 81,752 1,051 82,803
Net Book Value
As at 31 December 2023 - 337 337
As at 1 January 2023 - 662 662
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 1,453 20,903 22,356
Additions 622 2,220 2,842
Disposals - (8,103 ) (8,103 )
As at 31 December 2023 2,075 15,020 17,095
...CONTINUED
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Depreciation
As at 1 January 2023 545 15,944 16,489
Provided during the period 519 5,168 5,687
Disposals - (8,103 ) (8,103 )
As at 31 December 2023 1,064 13,009 14,073
Net Book Value
As at 31 December 2023 1,011 2,011 3,022
As at 1 January 2023 908 4,959 5,867
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 -
Additions 2,668
As at 31 December 2023 2,668
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 2,668
As at 1 January 2023 -
The following Investments are held at cost:
OYNB Spain SL: 3,000 shares of €1 each
Coaching for Leaders Ltd: 1 share of £1
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 35,225 18,677
Other debtors 357 8,696
35,582 27,373
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 52,850 17,203
Bank loans and overdrafts 557 -
Other taxes and social security 9,831 4,713
VAT 12,111 28,179
Other creditors 1,392 757
...CONTINUED
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Accruals and deferred income 66,857 104,790
Directors' loan accounts 89,338 89,338
Amounts owed to subsidiaries 728,310 -
961,246 244,980
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 244,854 -
The company was advanced £233,104 in advance of shares to be issued in the future, included within other other loans. The advance subscription agreements and convertible loans contain 2 components; liability and equity elements. The equity element is presented in equity under the heading 'other reserves'. The effective interest rate of the liability element on initial recognition is 10% per annum.
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 291 291
11. Related Party Transactions
As at 31 December 2023, the company owed £728,310 (2022: £Nil) to Coaching For Leaders Ltd, a wholly owned subsidiary. The loans were interest free with no set repayment terms. 
As at 31 December 2023, the director R Fairbairns was owed £89,338 (2022: £89,338 ) by the company. The loan is unsecured, interest free and repayable on demand.
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