Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12299521 Mr Francesco Meduri Mr Davide Ruini iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12299521 2022-12-31 12299521 2023-12-31 12299521 2023-01-01 2023-12-31 12299521 frs-core:CurrentFinancialInstruments 2023-12-31 12299521 frs-core:Non-currentFinancialInstruments 2023-12-31 12299521 frs-core:ComputerEquipment 2023-12-31 12299521 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12299521 frs-core:ComputerEquipment 2022-12-31 12299521 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 12299521 frs-core:FurnitureFittings 2023-12-31 12299521 frs-core:FurnitureFittings 2023-01-01 2023-12-31 12299521 frs-core:FurnitureFittings 2022-12-31 12299521 frs-core:OtherResidualIntangibleAssets 2023-12-31 12299521 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 12299521 frs-core:OtherResidualIntangibleAssets 2022-12-31 12299521 frs-core:ShareCapital 2023-12-31 12299521 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12299521 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12299521 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12299521 frs-bus:SmallEntities 2023-01-01 2023-12-31 12299521 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12299521 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12299521 frs-bus:Director1 2023-01-01 2023-12-31 12299521 frs-bus:Director2 2023-01-01 2023-12-31 12299521 frs-core:CurrentFinancialInstruments 1 2023-12-31 12299521 frs-core:CurrentFinancialInstruments 2 2023-12-31 12299521 frs-countries:EnglandWales 2023-01-01 2023-12-31 12299521 2021-12-31 12299521 2022-12-31 12299521 2022-01-01 2022-12-31 12299521 frs-core:CurrentFinancialInstruments 2022-12-31 12299521 frs-core:Non-currentFinancialInstruments 2022-12-31 12299521 frs-core:ShareCapital 2022-12-31 12299521 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 12299521 frs-core:CurrentFinancialInstruments 1 2022-12-31 12299521 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 12299521
FIDLAW LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
Fidcorp ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12299521
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,500 -
Tangible Assets 5 1,680 10,300
6,180 10,300
CURRENT ASSETS
Debtors 6 181,153 130,674
Cash at bank and in hand 55,453 178,026
236,606 308,700
Creditors: Amounts Falling Due Within One Year 7 (146,551 ) (251,687 )
NET CURRENT ASSETS (LIABILITIES) 90,055 57,013
TOTAL ASSETS LESS CURRENT LIABILITIES 96,235 67,313
Creditors: Amounts Falling Due After More Than One Year 8 (30,093 ) (35,648 )
NET ASSETS 66,142 31,665
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 65,142 30,665
SHAREHOLDERS' FUNDS 66,142 31,665
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 Francesco Meduri
Director
23/07/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
FIDLAW LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12299521 . The registered office is 3rd Floor Portman House, 2, Portman Street, London, W1H 6DU.
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.
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 - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Page 3
Page 4
2.6. 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.
2.7. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

2.10. Impairments of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.12. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 8)
9 8
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 -
Additions 5,000
As at 31 December 2023 5,000
Amortisation
As at 1 January 2023 -
Provided during the period 500
As at 31 December 2023 500
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 December 2023 4,500
As at 1 January 2023 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 22,643 3,835 26,478
As at 31 December 2023 22,643 3,835 26,478
Depreciation
As at 1 January 2023 15,101 1,077 16,178
Provided during the period 7,543 1,077 8,620
As at 31 December 2023 22,644 2,154 24,798
Net Book Value
As at 31 December 2023 (1 ) 1,681 1,680
As at 1 January 2023 7,542 2,758 10,300
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 138,404 93,412
Prepayments and accrued income 13,790 36,301
Other debtors 28,959 961
181,153 130,674
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 29,541 64,893
Bank loans and overdrafts 5,556 5,556
Corporation tax 50,266 80,111
Other taxes and social security 8,020 47,145
VAT 13,094 -
Net wages - 1,404
Other creditors 9,839 -
Other creditors (1) 20,000 -
Other creditors (2) 985 -
Accruals and deferred income 9,250 26,570
Directors' loan accounts - 40
Amounts owed to related parties - 25,968
146,551 251,687
Page 5
Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 30,093 35,648
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 50,000 260,000
Dividends paid to the directors/shareholders amounted to a total of £178,693.
Page 6