Acorah Software Products - Accounts Production 15.0.400 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 09280849 Mr Thomas Old Mr Ross Nichols iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09280849 2022-10-31 09280849 2023-10-31 09280849 2022-11-01 2023-10-31 09280849 frs-core:CurrentFinancialInstruments 2023-10-31 09280849 frs-core:Non-currentFinancialInstruments 2023-10-31 09280849 frs-core:BetweenOneFiveYears 2023-10-31 09280849 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-10-31 09280849 frs-core:OtherResidualIntangibleAssets 2023-10-31 09280849 frs-core:OtherResidualIntangibleAssets 2022-11-01 2023-10-31 09280849 frs-core:OtherResidualIntangibleAssets 2022-10-31 09280849 frs-core:PlantMachinery 2023-10-31 09280849 frs-core:PlantMachinery 2022-11-01 2023-10-31 09280849 frs-core:PlantMachinery 2022-10-31 09280849 frs-core:WithinOneYear 2023-10-31 09280849 frs-core:SharePremium 2023-10-31 09280849 frs-core:ShareCapital 2023-10-31 09280849 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09280849 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09280849 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09280849 frs-bus:SmallEntities 2022-11-01 2023-10-31 09280849 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09280849 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09280849 frs-bus:Director1 2022-11-01 2023-10-31 09280849 frs-bus:Director2 2022-11-01 2023-10-31 09280849 frs-countries:EnglandWales 2022-11-01 2023-10-31 09280849 2021-10-31 09280849 2022-10-31 09280849 2021-11-01 2022-10-31 09280849 frs-core:CurrentFinancialInstruments 2022-10-31 09280849 frs-core:Non-currentFinancialInstruments 2022-10-31 09280849 frs-core:BetweenOneFiveYears 2022-10-31 09280849 frs-core:WithinOneYear 2022-10-31 09280849 frs-core:SharePremium 2022-10-31 09280849 frs-core:ShareCapital 2022-10-31 09280849 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 09280849
Ethical Introductions Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09280849
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 109,624 117,131
Tangible Assets 5 12,989 18,373
122,613 135,504
CURRENT ASSETS
Debtors 7 242,662 379,819
Cash at bank and in hand 424,484 683,806
667,146 1,063,625
Creditors: Amounts Falling Due Within One Year 8 (478,335 ) (388,282 )
NET CURRENT ASSETS (LIABILITIES) 188,811 675,343
TOTAL ASSETS LESS CURRENT LIABILITIES 311,424 810,847
Creditors: Amounts Falling Due After More Than One Year 9 (614,457 ) (567,578 )
NET (LIABILITIES)/ASSETS (303,033 ) 243,269
CAPITAL AND RESERVES
Called up share capital 11 22,503 20,900
Share premium account 7,569,923 6,178,668
Profit and Loss Account (7,895,459 ) (5,956,299 )
SHAREHOLDERS' FUNDS (303,033) 243,269
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For the year ending 31 October 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 Thomas Old
Director
31 July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ethical Introductions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09280849 . The registered office is Unit 3, Vista Place, Coy Pond Business Park, Ingworth Road, Poole, Dorset, BH12 1JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

These financial statements are presented in pound sterling which is the functional currency of the company.
2.2. Going Concern Disclosure
The Directors have considered the going concern of the company.  The company is pre-profit and therefore still reliant on external investment. It is in the process of concluding a multi-million pound equity investment round. Given the anticipated fundraising, the directors confirm that in their view, the company is a 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.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
It is amortised to profit and loss account over its estimated economic life of 5 years.
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:
Plant & Machinery 3 years straight line
2.6. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.7. 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.
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2.8. 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 49 (2022: 50)
49 50
4. Intangible Assets
Other
£
Cost
As at 1 November 2022 247,812
Additions 46,160
Disposals (74,850 )
As at 31 October 2023 219,122
Amortisation
As at 1 November 2022 130,681
Provided during the period 53,667
Disposals (74,850 )
As at 31 October 2023 109,498
Net Book Value
As at 31 October 2023 109,624
As at 1 November 2022 117,131
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 94,903
Additions 5,203
Disposals (68,638 )
As at 31 October 2023 31,468
Depreciation
As at 1 November 2022 76,530
Provided during the period 10,587
Disposals (68,638 )
As at 31 October 2023 18,479
Net Book Value
As at 31 October 2023 12,989
As at 1 November 2022 18,373
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 101,064 31,804
Prepayments and accrued income 127,581 144,080
Other debtors 14,017 203,935
242,662 379,819
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 89,099 51,470
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 61,376 49,447
Other creditors 58,504 54,980
Accruals and deferred income 259,356 222,385
478,335 388,282
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,666 26,667
Other creditors 597,791 540,911
614,457 567,578
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10. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Other Creditors 597,791 540,911
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 22,503 20,900
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 2,878 -
Later than one year and not later than five years 1,919 -
4,797 -
13. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £7,905 (2022 - £7,295) were due to the fund. They are included in Other Creditors.
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