ORIGIN_BROADBAND_SERVICES - Accounts
ORIGIN_BROADBAND_SERVICES - Accounts
Origin Broadband Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7, Callflex Business Park, Doncaster Road, Wath-upon-Dearne, Rotherham, S63 7EF.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company, with support from the group, will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
These financial statements represent the first period of account for the company and so there is no comparative. The reporting date has been shortened so as to coincide with the wider group's year end.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons (including directors) employed by the company during the period was:
During the period one Ordinary share was issued upon incorporation.
The company has one class of share. Ordinary shares entitle the holders to receive notice of and to attend and vote at a general meeting and carry one vote per share. Ordinary shares also have full rights to profit distributions through dividends and upon winding up but carry no right to fixed income.
The issued share was unpaid at the balance sheet date.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
At the year end the company was under the control of Origin Broadband Group Limited, a company registered in England & Wales with registered office at Old Town Hall, Frederick Street, Rotherham S60 1QX.
The smallest group in which the results of the company are consolidated is that headed by Faro Capital Limited. The largest group in which the results of the Company are consolidated is that headed by IPGL (Holdings) Limited of 3rd Floor 39 Sloane Street, Knightsbridge, London, United Kingdom, SW1X 9LP. The consolidated financial statements of this group are available to the public and may be obtained from 3rd Floor 39 Sloane Street, Knightsbridge, London, United Kingdom, SW1X 9LP.