Acorah Software Products - Accounts Production 15.0.500 false true true 28 February 2023 8 February 2022 false 1 March 2023 28 February 2024 28 February 2024 13902525 Mr Harry Huang Miss Yuka Hamada Mr H Huang true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13902525 2023-02-28 13902525 2024-02-28 13902525 2023-03-01 2024-02-28 13902525 frs-core:CurrentFinancialInstruments 2024-02-28 13902525 frs-core:Non-currentFinancialInstruments 2024-02-28 13902525 frs-core:ComputerEquipment 2024-02-28 13902525 frs-core:ComputerEquipment 2023-03-01 2024-02-28 13902525 frs-core:ComputerEquipment 2023-02-28 13902525 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-28 13902525 frs-core:OtherResidualIntangibleAssets 2024-02-28 13902525 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-28 13902525 frs-core:OtherResidualIntangibleAssets 2023-02-28 13902525 frs-core:OtherReservesSubtotal 2024-02-28 13902525 frs-core:ShareCapital 2024-02-28 13902525 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13902525 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13902525 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13902525 frs-bus:SmallEntities 2023-03-01 2024-02-28 13902525 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13902525 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13902525 1 2023-03-01 2024-02-28 13902525 frs-bus:Director1 2023-03-01 2024-02-28 13902525 frs-bus:Director2 2023-03-01 2024-02-28 13902525 frs-countries:EnglandWales 2023-03-01 2024-02-28 13902525 2022-02-07 13902525 2023-02-28 13902525 2022-02-08 2023-02-28 13902525 frs-core:CurrentFinancialInstruments 2023-02-28 13902525 frs-core:Non-currentFinancialInstruments 2023-02-28 13902525 frs-core:OtherReservesSubtotal 2023-02-28 13902525 frs-core:ShareCapital 2023-02-28 13902525 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13902525
Melon Cube Studios Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Ellyss Limited
Chartered Certified Accountants
Suites 1 & 2 Webb House
20 Bridge Road
Park Gate
Hampshire
SO31 7GE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 13902525
28 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 531,558 736,130
Tangible Assets 5 2,964 3,201
534,522 739,331
CURRENT ASSETS
Debtors 6 208,866 5,021
Cash at bank and in hand 253,806 1,195,923
462,672 1,200,944
Creditors: Amounts Falling Due Within One Year 7 (25,937 ) (112,345 )
NET CURRENT ASSETS (LIABILITIES) 436,735 1,088,599
TOTAL ASSETS LESS CURRENT LIABILITIES 971,257 1,827,930
Creditors: Amounts Falling Due After More Than One Year 8 (1,262,866 ) (1,262,866 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (563 ) (608 )
NET (LIABILITIES)/ASSETS (292,172 ) 564,456
CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 1,743,931 1,459,742
Profit and Loss Account (2,036,203 ) (895,386 )
SHAREHOLDERS' FUNDS (292,172) 564,456
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For the year ending 28 February 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 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 Harry Huang
Director
15/07/2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Melon Cube Studios Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13902525 . The registered office is 128 City Road, London, EC1V 2NX.
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. 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.
The company received investments from third party investors with deferred dates of recognising as income of the company (See accounting policy). These agreements will be translated to future income or future shares within the company at the date as specified in the Simple Agreements for Future Tokens and Future Equity.
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.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs. It is amortised to profit and loss account over its estimated economic life of five 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:
Computer Equipment 20% straight line
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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
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.
2.8. 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. Simple Agreement for Future Equity (SAFE)
SAFEs typically are an equity instrument and do not represent a debt, nor are they income. They would be identified as "Other Reserves" within capital until such a time there is a share issuance at which point they would be converted to share capital. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Intangible Assets
Other
£
Cost
As at 1 March 2023 842,032
Additions 7,762
Disposals (520 )
As at 28 February 2024 849,274
Amortisation
As at 1 March 2023 105,902
Provided during the period 211,814
As at 28 February 2024 317,716
Net Book Value
As at 28 February 2024 531,558
As at 1 March 2023 736,130
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 4,001
Additions 617
As at 28 February 2024 4,618
Depreciation
As at 1 March 2023 800
Provided during the period 854
As at 28 February 2024 1,654
Net Book Value
As at 28 February 2024 2,964
As at 1 March 2023 3,201
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6. Debtors
28 February 2024 28 February 2023
£ £
Due within one year
Trade debtors 189,985 -
Prepayments and accrued income 1,384 2,154
Other debtors - 2,867
VAT 17,497 -
208,866 5,021
7. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
£ £
Trade creditors 10,299 29,208
Bank loans and overdrafts 8,405 24,183
Other taxes and social security 596 1,012
Net wages 1,878 1,842
Accruals and deferred income 3,708 2,559
Directors' loan accounts 1,051 53,541
25,937 112,345
8. Creditors: Amounts Falling Due After More Than One Year
28 February 2024 28 February 2023
£ £
Balance owed to connected company 1,262,866 1,262,866
9. Share Capital
28 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Related Party Transactions
During the period, the company paid Cypher Strategy Limited, of which the utimate controlling party is 100% owned by Mr Huang and Miss Hamada, a management charge of £149,344 for the time expensed by both directors in relation to the management of the operations of the company and its associated company.
The company has also recharged a connected company incorporated in British Virgin Islands for the provision of contractors and software totalling USD120,000 per month commencing from January 2024 which is the equivalent of £189,985 for 2 months.
At the year end the company owes the same connected BVI company an amount totalling £1,262,866 (2023: £1,262,866). This amount is due to be approved to be used as the working capital of Melon in 2023.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr H Huang by virtue of his ownership of 51% of the issued share capital in the company.
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