OPENORIGINS LIMITED


Directors	AHMED, M A, Dr
	BROWN, J
	MITTAL, S B


Registered Address	53/54 3rd Floor
	Grosvenor Street
	London
	W1K 3HU


Registered Number	12426667 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	31 Dec 2024		31 Mar 2024
		£	£	£	£
Fixed assets
Intangible assets	3		15,783		14,230
Tangible assets	4		11,104		9,550
			26,887		23,780
Current assets
Debtors	5	131,366		122,854
Cash at bank and on hand		3,208,401		465,588
		3,339,767		588,442
Creditors amounts falling due within one year	6	(40,186)		(19,105)
Net current assets (liabilities)			3,299,581		569,337
Total assets less current liabilities			3,326,468		593,117
Net assets			3,326,468		593,117
Capital and reserves
Called up share capital			9		7
Share premium			5,735,841		2,252,020
Other reserves			799		-
Profit and loss account			(2,410,181)		(1,658,910)
Shareholders' funds			3,326,468		593,117

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 2 September 2025, and are signed on its behalf by:

AHMED, M A, Dr
Director

BROWN, J
Director

MITTAL, S B
Director

Registered Company No. 12426667

OPENORIGINS LIMITED

Notes to the Financial Statements
for the period ended 31 December 2024

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	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 at least 12 months from the date of approval of the financial statements. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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 consultancy services provided in relation to the implementation or customization of the platform is recognized when the service is rendered. This includes any work done to integrate the platform with a customer’s existing systems or to provide training. Any revenue earned from the sale of data, reports, or additional features such as deepfake detection algorithms is recognized when the relevant deliverables are provided to the customer.

Turnover policy

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 consultancy services provided in relation to the implementation or customization of the platform is recognized when the service is rendered. This includes any work done to integrate the platform with a customer’s existing systems or to provide training.
Any revenue earned from the sale of data, reports, or additional features such as deepfake detection algorithms is recognized when the relevant deliverables are provided to the customer.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged so as to allocate the cost of assets less their residual values over their estimated useful lives, using the straight-line method. Amortisation is charged at the following rate: Trademarks and patents - 25% Reducing Balance

	Research and development
	All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Computer Equipment - 25% Reducing Balance Fixtures & Fittings - 25% Reducing Balance

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Computer Equipment                                                  - 25% Reducing Balance
Fixtures & Fittings                                                       - 25% Reducing Balance

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees
	including directors and key management personnel


		2024		2024
	Average number of employees during the year	6		7

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 April 24	21,035
	Additions	4,730
	At 31 December 24	25,765
	Amortisation and impairment
	At 01 April 24	6,805
	Charge for year	3,177
	At 31 December 24	9,981
	Net book value
	At 31 December 24	15,783
	At 31 March 24	14,230

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	20,105
	Additions	3,765
	At 31 December 24	23,870
	Depreciation and impairment
	At 01 April 24	10,555
	Charge for year	2,211
	At 31 December 24	12,766
	Net book value
	At 31 December 24	11,104
	At 31 March 24	9,550

5.	Debtors: amounts due within one year

	2024	2024
	£	£
Trade debtors / trade receivables	-	84,000
Other debtors	131,366	38,854
Total	131,366	122,854

6.	Creditors: amounts due within one year

	2024	2024
	£	£
Trade creditors / trade payables	-	3,406
Taxation and social security	35,120	-
Other creditors	1,816	10,949
Accrued liabilities and deferred income	3,250	4,750
Total	40,186	19,105

7.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
AHMED, M A, Dr	1,228	0	0	1,228
	1,228	0	0	1,228