SORA RISK SOLUTIONS LIMITED Filleted Accounts Cover
SORA RISK SOLUTIONS LIMITED
Company No. 11418513
Information for Filing with The Registrar
31 March 2024
SORA RISK SOLUTIONS LIMITED Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was Artificial Intelligence software development.
Directors
The Directors who served at any time during the year were as follows:
P. BYRNE
T.D. HOPPE
D.A. NICHOLSON
J. Walton
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
D.A. NICHOLSON
Director
30 April 2024
SORA RISK SOLUTIONS LIMITED Balance Sheet Registrar
at
31 March 2024
Company No.
11418513
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
42,75853,024
Tangible assets
5
43,08477,773
Investments
6
8686
85,928130,883
Current assets
Debtors
7
2,865,9842,802,394
Cash at bank and in hand
169,600317,708
3,035,5843,120,102
Creditors: Amount falling due within one year
8
(2,458,645)
(1,684,871)
Net current assets
576,9391,435,231
Total assets less current liabilities
662,8671,566,114
Creditors: Amounts falling due after more than one year
9
(62,500)
(112,500)
Net assets
600,3671,453,614
Capital and reserves
Called up share capital
192182
Share premium account
10
6,604,6585,881,913
Profit and loss account
10
(6,004,483)
(4,428,481)
Total equity
600,3671,453,614
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 30 April 2024 and signed on its behalf by:
D.A. NICHOLSON
Director
30 April 2024
SORA RISK SOLUTIONS LIMITED Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
SORA RISK SOLUTIONS LIMITED is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11418513
Its registered office is:
Ground Floor
Cromwell House
15 Andover Road
Winchester
SO23 7BT
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Computer equipment
33% Straight line
Furniture, fittings and equipment
25% Straight line
Research and development costs
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
4850
4
Intangible fixed assets
Other
Total
£
£
Cost
At 1 April 2023
102,620102,620
At 31 March 2024
102,620102,620
Amortisation and impairment
At 1 April 2023
49,59649,596
Charge for the year
10,26610,266
At 31 March 2024
59,86259,862
Net book values
At 31 March 2024
42,75842,758
At 31 March 2023
53,02453,024
5
Tangible fixed assets
Computer equipment
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 April 2023
76,890108,307185,197
Additions
3,965-3,965
At 31 March 2024
80,855108,307189,162
Depreciation
At 1 April 2023
51,08456,340107,424
Charge for the year
17,11421,54038,654
At 31 March 2024
68,19877,880146,078
Net book values
At 31 March 2024
12,65730,42743,084
At 31 March 2023
25,806
51,967
77,773
6
Investments
Investment in Subsidiaries
Total
£
£
Cost or valuation
At 1 April 2023
86
86
At 31 March 2024
86
86
Provisions/Impairment
Net book values
At 31 March 2024
86
86
At 31 March 2023
86
86
7
Debtors
2024
2023
£
£
Trade debtors
652,830833,104
Amounts owed by group undertakings
1,790,1951,107,029
Corporation tax recoverable
214,867444,578
Other debtors
12,62513,102
Prepayments and accrued income
195,467404,581
2,865,9842,802,394
8
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
50,00050,000
Other loans
-49,103
Trade creditors
161,274102,290
Taxes and social security
147,791
123,053
Other creditors
24,74419,177
Accruals and deferred income
2,074,8361,341,248
2,458,6451,684,871
9
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
62,500112,500
62,500112,500
10
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
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