Origin Primary Limited - Accounts to registrar (filleted) - small 18.2
Origin Primary Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1st May 2020 to 31st December 2020 |
for |
Origin Primary Limited |
Origin Primary Limited (Registered number: 09559611) |
Contents of the Financial Statements |
for the Period 1st May 2020 to 31st December 2020 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Origin Primary Limited (Registered number: 09559611) |
Balance Sheet |
31st December 2020 |
2020 | 2020 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Share Option Reserves |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Origin Primary Limited (Registered number: 09559611) |
Notes to the Financial Statements |
for the Period 1st May 2020 to 31st December 2020 |
1. | STATUTORY INFORMATION |
Origin Primary Limited is a |
Registered number: | 09559611 |
Registered office: | 164-180 Union Street |
Print Rooms - Unit 509 |
London |
SE1 0LH |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Origin Primary Limited (Registered number: 09559611) |
Notes to the Financial Statements - continued |
for the Period 1st May 2020 to 31st December 2020 |
2. | ACCOUNTING POLICIES - continued |
Share-based payments |
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st May 2020 |
Additions |
At 31st December 2020 |
DEPRECIATION |
At 1st May 2020 |
Charge for period |
At 31st December 2020 |
NET BOOK VALUE |
At 31st December 2020 |
At 30th April 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2020 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
Origin Primary Limited (Registered number: 09559611) |
Notes to the Financial Statements - continued |
for the Period 1st May 2020 to 31st December 2020 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2020 |
as restated |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
The total financial lease commitments for the company is £132,240. |
8. | SHARE-BASED PAYMENT TRANSACTIONS |
The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options are B Ordinary shares granted with a fixed exercise price determined at the grant of the option. The majority of the options vest over a period of up to 4 years following the date of the grant with the remainder vesting as performance milestones are achieved. The options are exercisable until up to the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company. |
The company also operates an Unapproved Share Option Scheme. The options are B Ordinary shares granted with a fixed exercise price determined at the grant of the option. The majority of the options vest immediately with the remainder vesting as performance milestones are achieved. The options are exercisable until up to the 10th anniversary from the date of grant. |
The company had the following options granted in the year. |
Share Option Type | Date of Grant | Number of Shares | Exercise Price |
Enterprise Management Incentive | 15/05/2020 to 20/05/2020 | 22,522 | £1.56 |
Unapproved Share Options | 17/05/2020 to 02/06/2020 | 15,007 | £0.0001 |
Name of shares | EMI Scheme | Unapproved Share Options | Weighted Average Exercise Price |
Brought forward | 4,741 | 671 | 1.37 |
Granted in the year | 22,522 | 15,007 | 0.94 |
Exercised in the year | 79 | Nil | 1.56 |
Lapsed in the year | 193 | Nil | 1.56 |
Carried forward | 26,992 | 15,678 | 0.99 |
The total charge for the period was £24,948 |
The total figure included in share options reserves as at 31 December 2020 is £27,085. |