Acorah Software Products - Accounts Production 14.5.501 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 NI650105 Mr Andrew Trimble Mr Gareth Quinn Mr Terrance Moore Mr Mark McCusker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI650105 2022-11-30 NI650105 2023-11-30 NI650105 2022-12-01 2023-11-30 NI650105 frs-core:CurrentFinancialInstruments 2023-11-30 NI650105 frs-core:Non-currentFinancialInstruments 2023-11-30 NI650105 frs-core:ComputerEquipment 2023-11-30 NI650105 frs-core:ComputerEquipment 2022-12-01 2023-11-30 NI650105 frs-core:ComputerEquipment 2022-11-30 NI650105 frs-core:SharePremium 2023-11-30 NI650105 frs-core:ShareCapital 2023-11-30 NI650105 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 NI650105 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 NI650105 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 NI650105 frs-bus:SmallEntities 2022-12-01 2023-11-30 NI650105 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 NI650105 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 NI650105 frs-bus:Director1 2022-12-01 2023-11-30 NI650105 frs-bus:Director2 2022-12-01 2023-11-30 NI650105 frs-bus:Director3 2022-12-01 2023-11-30 NI650105 frs-bus:Director4 2022-12-01 2023-11-30 NI650105 frs-core:Non-currentFinancialInstruments 1 2023-11-30 NI650105 frs-countries:NorthernIreland 2022-12-01 2023-11-30 NI650105 2021-11-30 NI650105 2022-11-30 NI650105 2021-12-01 2022-11-30 NI650105 frs-core:CurrentFinancialInstruments 2022-11-30 NI650105 frs-core:Non-currentFinancialInstruments 2022-11-30 NI650105 frs-core:SharePremium 2022-11-30 NI650105 frs-core:ShareCapital 2022-11-30 NI650105 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 NI650105 frs-core:Non-currentFinancialInstruments 1 2022-11-30
Registered number: NI650105
Kairos Sports Tech Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI650105
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,932 19,667
14,932 19,667
CURRENT ASSETS
Debtors 5 315,501 134,928
Cash at bank and in hand 214,921 440,871
530,422 575,799
Creditors: Amounts Falling Due Within One Year 6 (940,558 ) (423,978 )
NET CURRENT ASSETS (LIABILITIES) (410,136 ) 151,821
TOTAL ASSETS LESS CURRENT LIABILITIES (395,204 ) 171,488
Creditors: Amounts Falling Due After More Than One Year 7 (487,536 ) (740,577 )
NET LIABILITIES (882,740 ) (569,089 )
CAPITAL AND RESERVES
Called up share capital 8 217 185
Share premium account 2,003,629 1,460,388
Profit and Loss Account (2,886,586 ) (2,029,662 )
SHAREHOLDERS' FUNDS (882,740) (569,089)
Page 1
Page 2
For the year ending 30 November 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 Andrew Trimble
Director
26th March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kairos Sports Tech Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI650105 . The registered office is 18 Ormeau Avenue, Belfast, Co. Antrim, BT2 8HS.
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. Going Concern Disclosure
The directors are content that the company is a going concern having prepred forecasts looking 12 months forward fom the balance sheet date.
2.3. 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 rendering of services.
2.4. 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:
Computer Equipment 15% straight line depreciation
2.5. 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: 19 (2022: 16)
19 16
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 31,569
As at 30 November 2023 31,569
Depreciation
As at 1 December 2022 11,902
Provided during the period 4,735
As at 30 November 2023 16,637
Net Book Value
As at 30 November 2023 14,932
As at 1 December 2022 19,667
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 304,897 91,458
Prepayments and accrued income 10,504 37,762
Other debtors - 5,162
Corporation tax recoverable assets 100 546
315,501 134,928
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 59,064 11,886
Other taxes and social security 77,230 25,674
VAT 25,356 24,852
Loan 120,592 42,497
Accruals and deferred income 658,316 319,069
940,558 423,978
The loan of £120,592 is the short-term portion of the loan from Whiterock Capital Partners and the longer-term portion of £337,536 is included below within creditors due after one year.
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 150,000 507,674
Other Loans 337,536 232,903
487,536 740,577
Other creditors consists of £150,000 SAFE contracts due to be converted to equity at the next investment round.
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 217 185
Page 4