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Registered number: 10160658
Smart Connect Research Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10160658
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,270 12,822
18,270 12,822
CURRENT ASSETS
Debtors 5 1,273,537 609,842
Cash at bank and in hand 186,760 106,018
1,460,297 715,860
Creditors: Amounts Falling Due Within One Year 6 (759,205 ) (299,163 )
NET CURRENT ASSETS (LIABILITIES) 701,092 416,697
TOTAL ASSETS LESS CURRENT LIABILITIES 719,362 429,519
Creditors: Amounts Falling Due After More Than One Year 7 (203,215 ) (168,596 )
NET ASSETS 516,147 260,923
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 516,047 260,823
SHAREHOLDERS' FUNDS 516,147 260,923
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
F Parker
Director
18/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Smart Connect Research Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10160658 . The registered office is 30 Churchill Place 1st - 10th Floor, London, E14 5RE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the
Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure
requirements of section 1A of FRS 102 have been applied other than where additional disclosure is
required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company.
Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at
fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as 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 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. 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% reducing balance
Computer Equipment 33.33% reducing balance
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 balance sheet 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
...CONTINUED
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2.5. Financial Instruments - continued
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 paymen ts discounted at a market rate of interest. Financial liabilities classified as
payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.
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
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 895 39,426 40,321
Additions - 12,081 12,081
As at 31 May 2024 895 51,507 52,402
Depreciation
As at 1 June 2023 644 26,855 27,499
Provided during the period 63 6,570 6,633
As at 31 May 2024 707 33,425 34,132
Net Book Value
As at 31 May 2024 188 18,082 18,270
As at 1 June 2023 251 12,571 12,822
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,245,972 594,062
Prepayments and accrued income 17,632 7,680
Other debtors 9,408 7,575
Rent deposit 525 525
1,273,537 609,842
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 389,862 128,864
Other taxes and social security 119,913 52,810
Other creditors 230,776 110,590
Accruals and deferred income 18,654 6,899
759,205 299,163
Included in creditors due within one year is £20,770 (2023: £458) that is owed to the director of the company.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 203,215 168,596
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5