Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04865497 Mr E Swaab Dr H Robinson Mr J Christie Aldbury Secretaries Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04865497 2022-12-31 04865497 2023-12-31 04865497 2023-01-01 2023-12-31 04865497 frs-core:CurrentFinancialInstruments 2023-12-31 04865497 frs-core:Non-currentFinancialInstruments 2023-12-31 04865497 frs-core:ComputerEquipment 2023-12-31 04865497 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04865497 frs-core:ComputerEquipment 2022-12-31 04865497 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 04865497 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 04865497 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 04865497 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04865497 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 04865497 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 04865497 frs-core:FurnitureFittings 2023-12-31 04865497 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04865497 frs-core:FurnitureFittings 2022-12-31 04865497 frs-core:NetGoodwill 2023-12-31 04865497 frs-core:NetGoodwill 2023-01-01 2023-12-31 04865497 frs-core:NetGoodwill 2022-12-31 04865497 frs-core:OtherResidualIntangibleAssets 2023-12-31 04865497 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 04865497 frs-core:OtherResidualIntangibleAssets 2022-12-31 04865497 frs-core:PlantMachinery 2023-12-31 04865497 frs-core:PlantMachinery 2023-01-01 2023-12-31 04865497 frs-core:PlantMachinery 2022-12-31 04865497 frs-core:SharePremium 2023-12-31 04865497 frs-core:ShareCapital 2023-12-31 04865497 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04865497 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04865497 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04865497 frs-bus:SmallEntities 2023-01-01 2023-12-31 04865497 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04865497 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04865497 frs-bus:Director1 2023-01-01 2023-12-31 04865497 frs-bus:Director2 2023-01-01 2023-12-31 04865497 frs-bus:Director3 2023-01-01 2023-12-31 04865497 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04865497 frs-core:CurrentFinancialInstruments 9 2023-12-31 04865497 frs-countries:EnglandWales 2023-01-01 2023-12-31 04865497 2021-12-31 04865497 2022-12-31 04865497 2022-01-01 2022-12-31 04865497 frs-core:CurrentFinancialInstruments 2022-12-31 04865497 frs-core:Non-currentFinancialInstruments 2022-12-31 04865497 frs-core:SharePremium 2022-12-31 04865497 frs-core:ShareCapital 2022-12-31 04865497 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 04865497 frs-core:CurrentFinancialInstruments 9 2022-12-31
Registered number: 04865497
ASI Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
KEW Accountants & Tax Specialists Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04865497
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 788 1,278
Tangible Assets 5 22,474 27,622
23,262 28,900
CURRENT ASSETS
Stocks 6 201,956 245,986
Debtors 7 224,886 203,803
Cash at bank and in hand 933,156 1,348,795
1,359,998 1,798,584
Creditors: Amounts Falling Due Within One Year 8 (230,541 ) (424,227 )
NET CURRENT ASSETS (LIABILITIES) 1,129,457 1,374,357
TOTAL ASSETS LESS CURRENT LIABILITIES 1,152,719 1,403,257
Creditors: Amounts Falling Due After More Than One Year 9 (935,590 ) (1,295,043 )
NET ASSETS 217,129 108,214
CAPITAL AND RESERVES
Called up share capital 10 13,783,444 13,783,444
Share premium account 4,325,495 4,325,495
Profit and Loss Account (17,891,810 ) (18,000,725 )
SHAREHOLDERS' FUNDS 217,129 108,214
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Christie
Director
10/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ASI Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04865497 . The registered office is 17 Linford Forum, Rockingham Drive, Linford Wood, Milton Keynes, Buckinghamshire, MK14 6LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over 7 - 20 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life on the following basis:

Software: 5 years
Development Costs: 7 - 20 years
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.6. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are amortised to the profit and loss account over its estimated economic life on the following basis:

Patents & licences: 7 - 20 years
2.7. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20 - 33% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
Page 3
Page 4
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.9. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
4. Intangible Assets
Goodwill Other Development Costs Intellectual Property Total
£ £ £ £ £
Cost
As at 1 January 2023 33,811 290,901 6,811 28,841 360,364
As at 31 December 2023 33,811 290,901 6,811 28,841 360,364
Amortisation
As at 1 January 2023 33,811 290,901 6,811 27,563 359,086
Provided during the period - - - 490 490
As at 31 December 2023 33,811 290,901 6,811 28,053 359,576
Net Book Value
As at 31 December 2023 - - - 788 788
As at 1 January 2023 - - - 1,278 1,278
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 139,558 4,487 30,180 174,225
Additions - - 2,711 2,711
Disposals (15,237 ) (1,266 ) (3,373 ) (19,876 )
As at 31 December 2023 124,321 3,221 29,518 157,060
Depreciation
As at 1 January 2023 118,611 4,094 23,898 146,603
Provided during the period 5,111 105 2,644 7,860
Disposals (15,237 ) (1,267 ) (3,373 ) (19,877 )
As at 31 December 2023 108,485 2,932 23,169 134,586
Net Book Value
As at 31 December 2023 15,836 289 6,349 22,474
As at 1 January 2023 20,947 393 6,282 27,622
Page 4
Page 5
6. Stocks
2023 2022
£ £
Stock 116,204 171,829
Finished goods 85,752 74,157
201,956 245,986
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 103,787 122,255
Prepayments and accrued income 38,530 77,267
Other debtors 1,948 4,281
VAT control account 80,518 -
Wages control account 103 -
224,886 203,803
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 40,220 183,006
PAYE control account 22,222 31,524
VAT control account - 7,816
Sundry creditors 29,582 29,582
Accruals 138,517 172,299
230,541 424,227
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bounce Back loan 30,740 40,602
Other long term loans 904,850 1,254,441
935,590 1,295,043
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 13,783,444 13,783,444
Page 5