Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 03369083 Mr Julian Murfitt Mr Matthew Fernandez Mr Brian Ippolito Orbis Technologies Inc true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03369083 2022-12-31 03369083 2023-12-31 03369083 2023-01-01 2023-12-31 03369083 frs-core:CurrentFinancialInstruments 2023-12-31 03369083 frs-core:Non-currentFinancialInstruments 2023-12-31 03369083 frs-core:ShareCapital 2023-12-31 03369083 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03369083 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03369083 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03369083 frs-bus:SmallEntities 2023-01-01 2023-12-31 03369083 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03369083 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03369083 1 2023-01-01 2023-12-31 03369083 frs-core:UnlistedNon-exchangeTraded 2023-12-31 03369083 frs-core:UnlistedNon-exchangeTraded 2022-12-31 03369083 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 03369083 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 03369083 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 03369083 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 03369083 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 03369083 frs-bus:Director1 2023-01-01 2023-12-31 03369083 frs-bus:Director2 2023-01-01 2023-12-31 03369083 frs-bus:Director3 2023-01-01 2023-12-31 03369083 frs-countries:EnglandWales 2023-01-01 2023-12-31 03369083 2021-12-31 03369083 2022-12-31 03369083 2022-01-01 2022-12-31 03369083 frs-core:CurrentFinancialInstruments 2022-12-31 03369083 frs-core:Non-currentFinancialInstruments 2022-12-31 03369083 frs-core:ShareCapital 2022-12-31 03369083 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 03369083
Contiem Holdings UK Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Purvis Stevens LLP
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Contiem Holdings UK Limited for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Contiem Holdings UK Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Contiem Holdings UK Limited , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Contiem Holdings UK Limited and state those matters that we have agreed to state to the directors of Contiem Holdings UK Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Contiem Holdings UK Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Contiem Holdings UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Contiem Holdings UK Limited . You consider that Contiem Holdings UK Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Contiem Holdings UK Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
30/07/2024
Purvis Stevens LLP
Hayles Bridge Offices
228 Mulgrave Road
Cheam
Surrey
SM2 6JT
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Page 2
Balance Sheet
Registered number: 03369083
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 5,954,797 4,680,938
5,954,797 4,680,938
CURRENT ASSETS
Debtors 5 89,516 114,548
Cash at bank and in hand 140,938 47,929
230,454 162,477
Creditors: Amounts Falling Due Within One Year 6 (600,428 ) (117,593 )
NET CURRENT ASSETS (LIABILITIES) (369,974 ) 44,884
TOTAL ASSETS LESS CURRENT LIABILITIES 5,584,823 4,725,822
Creditors: Amounts Falling Due After More Than One Year 7 (5,464,680 ) (4,652,668 )
NET ASSETS 120,143 73,154
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 119,943 72,954
SHAREHOLDERS' FUNDS 120,143 73,154
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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 Profit and Loss Account.
On behalf of the board
Mr Julian Murfitt
Director
30/07/2024
The notes on pages 4 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Contiem Holdings UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03369083 . The registered office is Mekon House, 31-35 St. Nicholas Way, Sutton, Surrey, SM1 1JN.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. 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.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: 4)
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Page 5
4. Investments
Unlisted
£
Cost
As at 1 January 2023 4,680,938
Additions 1,273,859
As at 31 December 2023 5,954,797
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 5,954,797
As at 1 January 2023 4,680,938
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,584 28,649
Other debtors 80,932 85,899
89,516 114,548
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 27,601 16,377
Amounts owed to group undertakings 28,000 -
Other creditors 538,215 89,379
Taxation and social security 6,612 11,837
600,428 117,593
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to group undertakings 4,964,680 4,652,668
Other creditors 500,000 -
5,464,680 4,652,668
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
9. Ultimate Controlling Party
The company's ultimate controlling party is Orbis Technologies Inc by virtue of its ownership of 100% of the issued share capital in the company.
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