openbank innovation limited
openbank innovation limited Company Information
Company Number
12259074
Next Accounts
254 days late
Shareholders
dearg criostoir obartuin
Group Structure
View All
Industry
Business and domestic software development
+2Registered Address
71-75 shelton street, covent garden, london, WC2H 9JQ
Website
-openbank innovation limited Estimated Valuation
Pomanda estimates the enterprise value of OPENBANK INNOVATION LIMITED at £62.4k based on a Turnover of £117k and 0.53x industry multiple (adjusted for size and gross margin).
openbank innovation limited Estimated Valuation
Pomanda estimates the enterprise value of OPENBANK INNOVATION LIMITED at £0 based on an EBITDA of £-45.3k and a 3.55x industry multiple (adjusted for size and gross margin).
openbank innovation limited Estimated Valuation
Pomanda estimates the enterprise value of OPENBANK INNOVATION LIMITED at £0 based on Net Assets of £-86.6k and 2.25x industry multiple (adjusted for liquidity).
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Openbank Innovation Limited Overview
Openbank Innovation Limited is a live company located in london, WC2H 9JQ with a Companies House number of 12259074. It operates in the business and domestic software development sector, SIC Code 62012. Founded in October 2019, it's largest shareholder is dearg criostoir obartuin with a 100% stake. Openbank Innovation Limited is a young, micro sized company, Pomanda has estimated its turnover at £117k with unknown growth in recent years.
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Openbank Innovation Limited Health Check
Pomanda's financial health check has awarded Openbank Innovation Limited a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 6 areas for improvement. Company Health Check FAQs
1 Strong
2 Regular
6 Weak
Size
annual sales of £117k, make it smaller than the average company (£4.1m)
- Openbank Innovation Limited
£4.1m - Industry AVG
Growth
There is insufficient data available for this Key Performance Indicator!
- Openbank Innovation Limited
- - Industry AVG
Production
with a gross margin of 28.4%, this company has a higher cost of product (53.9%)
- Openbank Innovation Limited
53.9% - Industry AVG
Profitability
an operating margin of -38.7% make it less profitable than the average company (5%)
- Openbank Innovation Limited
5% - Industry AVG
Employees
with 1 employees, this is below the industry average (28)
1 - Openbank Innovation Limited
28 - Industry AVG
Pay Structure
on an average salary of £58.6k, the company has an equivalent pay structure (£58.6k)
- Openbank Innovation Limited
£58.6k - Industry AVG
Efficiency
resulting in sales per employee of £117k, this is equally as efficient (£136.5k)
- Openbank Innovation Limited
£136.5k - Industry AVG
Debtor Days
it gets paid by customers after 125 days, this is later than average (53 days)
- Openbank Innovation Limited
53 days - Industry AVG
Creditor Days
its suppliers are paid after 334 days, this is slower than average (40 days)
- Openbank Innovation Limited
40 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Openbank Innovation Limited
- - Industry AVG
Cash Balance
There is insufficient data available for this Key Performance Indicator!
- - Openbank Innovation Limited
- - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 315.6%, this is a higher level of debt than the average (62%)
315.6% - Openbank Innovation Limited
62% - Industry AVG
OPENBANK INNOVATION LIMITED financials
Openbank Innovation Limited's latest turnover from October 2022 is estimated at £117 thousand and the company has net assets of -£86.6 thousand. According to their latest financial statements, Openbank Innovation Limited has 1 employee and maintains cash reserves of 0 as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Oct 2022 | Dec 2021 | Oct 2020 | |
|---|---|---|---|
| Turnover | |||
| Other Income Or Grants | |||
| Cost Of Sales | |||
| Gross Profit | |||
| Admin Expenses | |||
| Operating Profit | |||
| Interest Payable | |||
| Interest Receivable | |||
| Pre-Tax Profit | |||
| Tax | |||
| Profit After Tax | |||
| Dividends Paid | |||
| Retained Profit | |||
| Employee Costs | |||
| Number Of Employees | 1 | 4 | 4 |
| EBITDA* |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Oct 2022 | Dec 2021 | Oct 2020 | |
|---|---|---|---|
| Tangible Assets | |||
| Intangible Assets | |||
| Investments & Other | |||
| Debtors (Due After 1 year) | |||
| Total Fixed Assets | |||
| Stock & work in progress | |||
| Trade Debtors | 40,178 | 40,706 | 48,060 |
| Group Debtors | |||
| Misc Debtors | |||
| Cash | |||
| misc current assets | |||
| total current assets | 40,178 | 40,706 | 48,060 |
| total assets | 40,178 | 40,706 | 48,060 |
| Bank overdraft | |||
| Bank loan | |||
| Trade Creditors | 76,788 | 31,998 | 20 |
| Group/Directors Accounts | |||
| other short term finances | |||
| hp & lease commitments | |||
| other current liabilities | |||
| total current liabilities | 76,788 | 31,998 | 20 |
| loans | |||
| hp & lease commitments | |||
| Accruals and Deferred Income | |||
| other liabilities | 50,000 | 50,000 | 50,000 |
| provisions | |||
| total long term liabilities | 50,000 | 50,000 | 50,000 |
| total liabilities | 126,788 | 81,998 | 50,020 |
| net assets | -86,610 | -41,292 | -1,960 |
| total shareholders funds | -86,610 | -41,292 | -1,960 |
| Oct 2022 | Dec 2021 | Oct 2020 | |
|---|---|---|---|
| Operating Activities | |||
| Operating Profit | |||
| Depreciation | |||
| Amortisation | |||
| Tax | |||
| Stock | |||
| Debtors | -528 | -7,354 | 48,060 |
| Creditors | 44,790 | 31,978 | 20 |
| Accruals and Deferred Income | |||
| Deferred Taxes & Provisions | |||
| Cash flow from operations | |||
| Investing Activities | |||
| capital expenditure | |||
| Change in Investments | |||
| cash flow from investments | |||
| Financing Activities | |||
| Bank loans | |||
| Group/Directors Accounts | |||
| Other Short Term Loans | |||
| Long term loans | |||
| Hire Purchase and Lease Commitments | |||
| other long term liabilities | 50,000 | ||
| share issue | |||
| interest | |||
| cash flow from financing | |||
| cash and cash equivalents | |||
| cash | |||
| overdraft | |||
| change in cash |
openbank innovation limited Credit Report and Business Information
Openbank Innovation Limited Competitor Analysis
Perform a competitor analysis for openbank innovation limited by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other micro companies, companies in WC2H area or any other competitors across 12 key performance metrics.
openbank innovation limited Ownership
OPENBANK INNOVATION LIMITED group structure
Openbank Innovation Limited has no subsidiary companies.
Ultimate parent company
OPENBANK INNOVATION LIMITED
12259074
openbank innovation limited directors
Openbank Innovation Limited currently has 2 directors. The longest serving directors include Mr James Savage (Oct 2021) and Mr Dearg Obartuin (Feb 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr James Savage | England | 48 years | Oct 2021 | - | Director |
| Mr Dearg Obartuin | England | 42 years | Feb 2023 | - | Director |
P&L
October 2022turnover
117k
-43%
operating profit
-45.3k
0%
gross margin
28.5%
+1.03%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
October 2022net assets
-86.6k
+1.1%
total assets
40.2k
-0.01%
cash
0
0%
net assets
Total assets minus all liabilities
openbank innovation limited company details
company number
12259074
Type
Private limited with Share Capital
industry
82990 - Other business support service activities n.e.c.
62012 - Business and domestic software development
62090 - Other information technology and computer service activities
incorporation date
October 2019
age
6
incorporated
UK
ultimate parent company
accounts
Micro-Entity Accounts
last accounts submitted
October 2022
previous names
clip ventures limited (September 2020)
accountant
-
auditor
-
address
71-75 shelton street, covent garden, london, WC2H 9JQ
Bank
-
Legal Advisor
-
openbank innovation limited Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We did not find charges/mortgages relating to openbank innovation limited.
openbank innovation limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
Click to start generating capital raising & share issue transactions for OPENBANK INNOVATION LIMITED. This can take several minutes, an email will notify you when this has completed.
openbank innovation limited Companies House Filings - See Documents
| date | description | view/download |
|---|
