ONESPAN TECHNOLOGY LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 2.3 to the financial statements which explains that the directors of the Company intend to cease operations and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.3. The Directors plan to novate all active contracts across to other companies in the Group. Following this transaction the Company will remain in controlled closure and it is the Directors intention to dissolve the Company in due course. The Parent Company will continue to financially support during this process.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -19.3%

  £4,420,630 → £3,567,269

• Cash

  -57.3%

  £1,459,076 → £623,677

• Net assets

  +5.9%

  -£7,527,262 → -£7,079,504

• Employees

  —

  Not reported

• Operating profit

  +153.3%

  -£525,349 → £280,133

• Profit before tax

  +185.2%

  -£525,349 → £447,758

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. ONESPAN TECHNOLOGY LIMITED 2019-06-04 → present
2. DEALFLO LIMITED 2016-06-08 → 2019-06-04
3. IOCS LIMITED 2008-09-25 → 2016-06-08

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 2.3 to the financial statements which explains that the directors of the Company intend to cease operations and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.3. The Directors plan to novate all active contracts across to other companies in the Group. Following this transaction the Company will remain in controlled closure and it is the Directors intention to dissolve the Company in due course. The Parent Company will continue to financially support during this process.”

Group structure

1. ONESPAN TECHNOLOGY LIMITED · parent
   1. Dealflo Technology Inc 100% · Vancouver, Canada

Significant events

• “The Directors decided to adopt a basis other than going concern pursuant to a strategic decision to liquidate the entity in order to simplify the structure of the consolidated company. The Directors plan to novate all active contracts across to other companies in the Group. Following this transaction the Company will remain in controlled closure and it is the Directors intention to dissolve the Company in due course.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.