Acorah Software Products - Accounts Production 14.5.601 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12276417 Mr Philip Howson Mr Joanthan Baker 251 LittleFallsDrive, Wilmington, NewCastle, Delware, 19808, United States. true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12276417 2022-12-31 12276417 2023-12-31 12276417 2023-01-01 2023-12-31 12276417 frs-core:CurrentFinancialInstruments 2023-12-31 12276417 frs-core:ComputerEquipment 2023-12-31 12276417 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12276417 frs-core:ComputerEquipment 2022-12-31 12276417 frs-core:SharePremium 2023-12-31 12276417 frs-core:ShareCapital 2023-12-31 12276417 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12276417 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12276417 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12276417 frs-bus:SmallEntities 2023-01-01 2023-12-31 12276417 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12276417 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12276417 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12276417 frs-bus:OrdinaryShareClass1 2023-12-31 12276417 1 2023-01-01 2023-12-31 12276417 frs-bus:Director1 2023-01-01 2023-12-31 12276417 frs-bus:Director2 2023-01-01 2023-12-31 12276417 frs-countries:EnglandWales 2023-01-01 2023-12-31 12276417 2021-12-31 12276417 2022-12-31 12276417 2022-01-01 2022-12-31 12276417 frs-core:CurrentFinancialInstruments 2022-12-31 12276417 frs-core:SharePremium 2022-12-31 12276417 frs-core:ShareCapital 2022-12-31 12276417 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 12276417 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31
Registered number: 12276417
IONA MIND LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
Daly Accounting
The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 12276417
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,493 4,688
3,493 4,688
CURRENT ASSETS
Debtors 5 34,683 7,632
Cash at bank and in hand 97,384 316,385
132,067 324,017
Creditors: Amounts Falling Due Within One Year 6 (34,880 ) (35,817 )
NET CURRENT ASSETS (LIABILITIES) 97,187 288,200
TOTAL ASSETS LESS CURRENT LIABILITIES 100,680 292,888
NET ASSETS 100,680 292,888
CAPITAL AND RESERVES
Called up share capital 7 4,665 4,665
Share premium account 461,798 461,798
Income Statement (365,783 ) (173,575 )
SHAREHOLDERS' FUNDS 100,680 292,888
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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 Income Statement.
On behalf of the board
Mr Philip Howson
Director
17th April 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
IONA MIND LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12276417 . The registered office is 35 Lodge Avenue, Romford, England, RM2 5AB.
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 financial statements have been prepared on the going concern basis which assumes the company will have sufficient cash to meet it’s obligations, as and when they become payable, for a period of a period of at least 12 months from the date the financial statements were approved.
During the financial period the company incurred a pre-tax loss of £225,763 (2022: £161,311) following investment in the company’s research and development and start-up activities. The company’s losses have to date been funded in part by the company’s parent company, Iona Mind Inc. 
The company’s US parent Iona Mind In. Have funded the company’s operations to date and have committed to provide further funding during 2023 and beyond. 
The Director’s believe that the company has adequate resources to continue in operational existence for the foreseeable future. The financial statement do not include adjustments relating to the recoverability and classification of recorded asset amounts, nor to the amounts and classification od liabilities that might be necessary should the company not continue as going concern. 
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Research and Development
Expenditure on research and development is written off in the year it is incurred.
2.5. 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 Over 3 years
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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: 4 (2022: 2)
4 2
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 6,660
Additions 1,273
As at 31 December 2023 7,933
Depreciation
As at 1 January 2023 1,972
Provided during the period 2,468
As at 31 December 2023 4,440
Net Book Value
As at 31 December 2023 3,493
As at 1 January 2023 4,688
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 17,000 -
VAT - 265
Amounts owed by group undertakings 17,683 7,367
34,683 7,632
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other taxes and social security 6,276 9,695
VAT 1,752 -
Other creditors 587 808
Accruals and deferred income 26,265 25,314
34,880 35,817
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
466,465 Ordinary Shares of £ 0.01 each 4,665 4,665
8. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Iona Mind Inc. , a company incorporated in the United States of America. The registered office address is 251 Little Falls Drive, Wilmington, New Castle, Delware, 19808, United States.

The Directors consider there to be no ultimate controlling party.
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