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Registration number: 14616706

Prepared for the registrar

Ohmbot Technologies Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Ohmbot Technologies Ltd

(Registration number: 14616706)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

142,204

39,793

Tangible assets

5

121,884

2,458

 

264,088

42,251

Current assets

 

Debtors

6

5,912

49,609

Cash at bank and in hand

 

9,701

82,464

 

15,613

132,073

Creditors: Amounts falling due within one year

7

(213,578)

(114,434)

Net current (liabilities)/assets

 

(197,965)

17,639

Total assets less current liabilities

 

66,123

59,890

Creditors: Amounts falling due after more than one year

7

(67,876)

-

Deferred tax liabilities

8

(23,789)

(604)

Net (liabilities)/assets

 

(25,542)

59,286

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(25,544)

59,284

Shareholders' (deficit)/funds

 

(25,542)

59,286

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2025 and signed on its behalf by:
 


A A Napier
Director


J I Phillips
Director

 

Ohmbot Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
124-128 City Road
London
EC1V 2NX
England

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Ohmbot Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight line 20%

Motor vehicles

Reducing balance 15%

Intangible assets

Intangible assets comprise software development costs. These costs have a finite useful life and are carried at cost less accumulated amortisation and any impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software development costs

Straight line 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

 

Ohmbot Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

 

Ohmbot Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

4

Intangible assets

Software development costs
 £

Total
£

Cost

At 1 February 2024

53,675

53,675

Additions acquired separately

149,917

149,917

At 31 January 2025

203,592

203,592

Amortisation

At 1 February 2024

13,882

13,882

Amortisation charge

47,506

47,506

At 31 January 2025

61,388

61,388

Carrying amount

At 31 January 2025

142,204

142,204

At 31 January 2024

39,793

39,793

 

5

Tangible assets

Office equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 February 2024

2,724

-

2,724

Additions

-

133,301

133,301

At 31 January 2025

2,724

133,301

136,025

Depreciation

At 1 February 2024

266

-

266

Charge for the period

545

13,330

13,875

At 31 January 2025

811

13,330

14,141

Carrying amount

At 31 January 2025

1,913

119,971

121,884

At 31 January 2024

2,458

-

2,458

 

6

Debtors

2025
£

2024
£

Trade debtors

1,674

12,389

Prepayments

574

232

Other debtors

3,664

36,988

5,912

49,609

 

Ohmbot Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

128,424

-

Trade creditors

 

45,772

58,927

Taxation and social security

 

22,881

52,912

Accruals and deferred income

 

3,241

2,500

Other creditors

 

13,260

95

 

213,578

114,434

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

67,876

-

 

8

Deferred tax

Deferred tax assets and liabilities

2025

Asset
£

Liability
£

Fixed asset timing differences

-

66,022

Losses

41,580

-

Short term timing differences

23

-

41,603

66,022

2024

Liability
£

Fixed asset timing differences

604

604

 

Ohmbot Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank overdrafts

288

-

Other borrowings

113,593

-

HP and finance lease liabilities

14,543

-

128,424

-

Non-current loans and borrowings

2025
£

2024
£

HP and finance lease liabilities

67,876

-

 

10

Related party transactions

Transactions with directors

At 31 January 2025, the company owed £75,758 (2024: £Nil) to Andrew Napier in the form of a directors loan account. The loan is unsecured, interest free and repayable on demand.

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

8,610

-

Later than one year and not later than five years

12,914

-

21,524

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,946 (2024 - £Nil).