Company Registration No. 09431390 (England and Wales)
Oppia Limited
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
Oppia Limited
Unaudited accounts
Contents
Oppia Limited
Statement of financial position
as at 28 February 2024
Intangible assets
23,600
24,050
Cash at bank and in hand
4,402
535
Creditors: amounts falling due within one year
(53,998)
(50,546)
Net current liabilities
(49,596)
(50,011)
Net liabilities
(25,996)
(25,961)
Called up share capital
100
100
Profit and loss account
(26,096)
(26,061)
Shareholders' funds
(25,996)
(25,961)
For the period ending 28 February 2024 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 21 October 2024 and were signed on its behalf by
Dr A Boughellam
Director
Company Registration No. 09431390
Oppia Limited
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Oppia Limited is a private company, limited by shares, registered in England and Wales, registration number 09431390. The registered office is 13 Goldhill Road, Leicester, LE2 3LE.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Intangible fixed assets acquired separately from a business are included at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Patents and licences are amortised at 10% per annum on cost once brought into use.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Oppia Limited
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Other
At 28 February 2024
23,600
At 28 February 2024
23,600
At 28 February 2023
24,050
5
Creditors: amounts falling due within one year
2024
2023
Other creditors
49,250
45,800
Deferred income
4,049
4,049
Allotted, called up and fully paid:
100 Ordinary Shares of £1 each
100
100
7
Average number of employees
During the period the average number of employees was 2 (2023: 2).