ACCOUNTS - Final Accounts

Operating (loss)/profit

The operating (loss)/profit is stated after charging:

Registered number: 05276391

OPENCFD LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

OPENCFD LIMITED

COMPANY INFORMATION

Directors	Corinne Romefort-Régnier - ESI Group SAS (resigned 24 September 2025)
	Corinne Romefort-Régnier (resigned 24 September 2025)
	Olfa Zorgati (resigned 9 February 2024)
	Paul Roy (appointed 24 September 2025)
	Gareth Smith (appointed 24 September 2025)


Registered number	05276391


Registered office	Unit 6
	The Courtyard
	Eastern Road
	Bracknell
	Berkshire
	RG12 2XB


Independent auditors	Richardsons
	Chartered Accountants and Statutory Auditors
	30 Upper High Street
	Thame
	Oxfordshire
	OX9 3EZ


Accountants	James Cowper Kreston
	Chartered Accountants
	2 Communications Road
	Greenham Business Park
	Newbury
	Berkshire
	RG19 6AB

OPENCFD LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11 - 19

OPENCFD LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

OpenCFD Ltd, owner of the OpenFOAM Trademark, is a wholly owned subsidiary of ESI Group.

ESI Group provides reliable and customized solutions anchored on predictive physics modelling and virtual prototyping expertise. Acting principally in automotive, land transportation, heavy industry, aerospace and defence, ESI software enables engineers to simulate mechanical designs, smart manufacturing processes, and human-centric workflows to make better decisions earlier in the product lifecycle.

ESI Group was fully acquired by Keysight Technologies in January 2024. Keysight is an S&P 500 company delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle.

Business review

OpenCFD Limited produces the OpenFOAM® open source CFD toolbox and distributes freely via www.openfoam.com.

It continues to focus on three activities related to this OpenFOAM business:
1. Software development – Fixed cost based on specific deliverables
2. Support: Offer starts at minimum 40 hrs per year
3. Public and customer on site training. The yearly schedule is available on web

On 31st October 2024 the trade and assets of the Company were transferred to another Keysight Group company so these business activities are now no longer continuing.

Principal risks and uncertainties

From a commercial perspective the nature of the business meant it responded to ad hoc demand from its main customers on a long business cycle (3-6 months to close opportunities). It remained vulnerable to the economic situation and investment from major industrial companies. However, such risk is inherent in the industry sector and remains unchanged when compared with previous years.

Following the transfer of the trade and assets of the Company it is no longer exposed to business uncertainty.

An analysis of the business using KPI's

OpenCFD Limited activity decreased in 2024 as compared with the previous year, actual revenue amounts to £638,833 as compared with £1,049,838 in 2023.

The loss for the year to December 2024 amounts to £309,824, compared with profit of £72,315 in 2023.

Page 1

OPENCFD LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

The future development of the business

Following the transfer of the trade and assets of the Company to another Keysight Group company the Directors intend to liquidate the company. On that basis the Directors do not believe that the Company is a going concern and the financial statements have been prepared on a basis other than that of a going concern. No adjustments to the financial statements were required as a result of preparing them on a different basis.

This report was approved by the board and signed on its behalf.

Paul Roy

Director

Date: 15 December 2025

Page 2

OPENCFD LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the Directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £309,824 (2023 - profit £72,315).

No dividends were taken or proposed in the year.

Directors

The Directors who served during the year were:

Corinne Romefort-Régnier - ESI Group SAS (resigned 24 September 2025)

Corinne Romefort-Régnier (resigned 24 September 2025)

Olfa Zorgati (resigned 9 February 2024)

Future developments

Following the transfer of the trade and assets of the Company to another Keysight Group company the Directors intend to liquidate the Company. On that basis the Directors do not believe that the Company is a going concern and the financial statements have been prepared on a basis other than that of a going concern. No adjustments to the financial statements were required as a result of preparing them on a different basis.

Page 3

OPENCFD LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, Richardsons, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Paul Roy

Director

Date: 15 December 2025

Page 4

OPENCFD LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OPENCFD LIMITED

Opinion

We have audited the financial statements of OpenCFD Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its loss for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to note 2.3 in the financial statements, which indicates that the Directors intend to strike off the company within 12 months from the balance sheet signing date. As stated in note 2.3, these events or conditions, along with the other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

OPENCFD LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OPENCFD LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of Directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Enquiry of management and those charged with governance around actual and potential litigation and claims.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

OPENCFD LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OPENCFD LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jemima King (Senior Statutory Auditor)

for and on behalf of

Richardsons

Chartered Accountants and Statutory Auditors

30 Upper High Street

Thame

Oxfordshire

OX9 3EZ

15 December 2025

Page 7

OPENCFD LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover		638,833	1,049,838
Cost of sales		(180,280)	(351,576)
Gross profit		458,553	698,262
Administrative expenses		(705,148)	(614,602)
Operating (loss)/profit	3	(246,595)	83,660
Gain on disposal of business	7	28,288	-
Interest payable and similar expenses		(20,802)	(42,876)
(Loss)/profit before tax		(239,109)	40,784
Tax on (loss)/profit	6	(70,715)	31,531
(Loss)/profit for the financial year		(309,824)	72,315

There was no other comprehensive income for 2024 (2023 - £NIL).

The notes on pages 11 to 19 form part of these financial statements.

The Company's results for the year have been generated from activities that are not continuing on the basis that the trade and assets of the Company were transferred out to another Keysight group company on 31 October 2024, and it is the intention of the Directors to liquidate the Company.

Page 8

OPENCFD LIMITED

REGISTERED NUMBER: 05276391

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	8		-		10,221
			-		10,221
Current assets
Debtors: amounts falling due within one year	9	-		613,582
Cash at bank and in hand	10	257,838		213,843
		257,838		827,425
Current liabilities
Creditors: amounts falling due within one year	11	(32,184)		(302,168)
Total assets less current liabilities			225,654		535,478

Net assets			225,654		535,478

Capital and reserves
Called up share capital	13	1,650,001	1,650,001
Profit and loss account		(1,424,347)	(1,114,523)
		225,654	535,478

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Paul Roy

Director

Date: 15 December 2025

The notes on pages 11 to 19 form part of these financial statements.

Page 9

OPENCFD LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	1	(1,186,838)	(1,186,837)

Profit for the year	-	72,315	72,315
Contributions by and distributions to owners
Shares issued during the year	1,650,000	-	1,650,000

At 1 January 2024	1,650,001	(1,114,523)	535,478

Loss for the year	-	(309,824)	(309,824)
At 31 December 2024	1,650,001	(1,424,347)	225,654

The notes on pages 11 to 19 form part of these financial statements.

Page 10

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

OpenCFD Limited is a private company, limited by share capital and incorporated in England and Wales. The registered office and principal place of business is Unit 6, The Courtyard, Eastern Road, Bracknell, Berkshire, RG12 2XB.

The principal activity of the Company is software development, support and training.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of ESI Group SAS as at 31 December 2024 and these financial statements may be obtained from 10 Avenue Aristide Briand,
92220 Bagneux, France.

2.3

Going concern

These financial statements have not been prepared on the going concern basis as the Directors have indicated their intention to strike off the company within 12 months from the balance sheet signing date.

Page 11

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery	-	3 - 7 years
Computer equipment	-	3 - 5 years
Other fixed assets	-	5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 12

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Financial instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.13

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 13

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

Increases in provisions are generally charged as an expense to profit or loss.

2.16

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.17

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 14

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Depreciation of tangible fixed assets	3,471	3,687
Exchange differences	2,140	2,140
Other operating lease rentals	48,615	48,615
Defined contribution pension cost	16,963	38,798

Fees payable to the Company's auditors for the audit of the Company's financial statements

6,142

9,110

Wages and salaries	514,241	303,150
National insurance	47,171	92,341
Cost of defined contribution scheme	16,963	58,197
	578,375	453,688

The average monthly number of employees, including the Directors, during the year was as follows:

	2024	2023
	No.	No.

Employees	4	5
Directors	2	3

	6	8

Page 15

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Corporation tax
Adjustments in respect of previous periods	-	(1,444)
	-	(1,444)

Total current tax	-	(1,444)

Deferred tax
Origination and reversal of timing differences	70,715	(30,087)
Total deferred tax	70,715	(30,087)


	Taxation on profit/(loss) on ordinary activities	70,715	(31,531)

(Loss)/profit on ordinary activities before tax

(239,109)

40,784

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 25%)	-	10,196
Effects of:
Adjustments to tax charge in respect of prior periods	-	(1,444)
Deferred tax movements	70,715	(30,087)
Other differences leading to an increase (decrease) in the tax charge	-	(1,924)
Group and loss relief	-	(8,272)
Total tax charge for the year	70,715	(31,531)

7.	Exceptional items
		2024	2023
		£	£

Profit on disposal of assets

(28,288)

Page 16

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Tangible fixed assets

	Plant and machinery	Computer equipment	Other fixed assets	Total
	£	£	£	£

At 1 January 2024	1,747	42,932	44,055	88,734
Transfers intra group	(1,747)	(42,932)	(44,055)	(88,734)
At 31 December 2024	-	-	-	-

At 1 January 2024	1,342	33,116	44,055	78,513
Charge for the year on owned assets	73	3,398	-	3,471
Transfers intra group	(1,415)	(36,514)	(44,055)	(81,984)
At 31 December 2024	-	-	-	-
Net book value
At 31 December 2024	-	-	-	-
At 31 December 2023	405	9,816	-	10,221

Page 17

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	-	23,450
Other debtors	-	494,353
Prepayments and accrued income	-	25,064
Deferred taxation	-	70,715
	-	613,582

10.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	257,838	213,843

11.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	2,700	19,523
Amounts owed to group undertakings	-	2,126
Other taxation and social security	219	12,717
Other creditors	21,393	181,055
Accruals and deferred income	7,872	86,747
	32,184	302,168

12.	Deferred taxation

	2024	2023
	£	£

At beginning of year	70,715	40,628
Charged to profit or loss	(70,715)	30,087
At end of year	-	70,715

Page 18

OPENCFD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.Deferred taxation (continued)

The deferred tax asset is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	-	(752)
Tax losses carried forward	-	64,308
Short term timing differences	-	7,159
	-	70,715

13.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

165,000,100 (2023 - 165,000,100) Ordinary shares of £0.01 each	1,650,001	1,650,001

14.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £16,963 (2023 - £38,798).

Contributions totalling £NIL (2023 - £NIL) were repayable to the fund at the balance sheet date.

15.	Related party transactions
	The Company has taken advantage of the exemption under FRS 102 section 33.1A not to disclose transactions with 100% owned group companies. No Directors received any remuneration in the current or prior years.

16.	Controlling party

The ultimate parent company and the largest and smallest undertaking which consolidates these financial statements is Keysight Technologies, Inc., which is incorporated in the United States of America. The principal place of business and registered office address of Keysight Technologies, Inc., is 1400 Fountaingrove Parkway, Santa Rosa, CA 95403, USA. Copies of the Group financial statements of Keysight Technologies, Inc. can be obtained from this address.

The ultimate controlling party is Keysight Technologies, Inc.

The immediate controlling party and parent undertaking is ESI Group SAS, a company incorporated in France.

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