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Registered number: 14777704
Doc Konto Ltd
Unaudited Financial Statements
For the Period 3 April 2023 to 30 April 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 14777704
30 April 2024
Notes £ £
FIXED ASSETS
Intangible Assets 3 70,608
70,608
CURRENT ASSETS
Debtors 4 10,523
Cash at bank and in hand 8,210
18,733
Creditors: Amounts Falling Due Within One Year 5 (94,584 )
NET CURRENT ASSETS (LIABILITIES) (75,851 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,243 )
NET LIABILITIES (5,243 )
CAPITAL AND RESERVES
Called up share capital 6 100
Income Statement (5,343 )
SHAREHOLDERS' FUNDS (5,243)
For the period ending 30 April 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 her 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 Income Statement.
On behalf of the board
Dr Christina Kontoghiorghe
Director
6 June 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
1.2. Research and Development
Expenditures on research or on the research phase of an internal project are recognised as an expense when incurred. The intangible assets arising from the development phase of an internal project are recognised if, and only if, the following conditions apply: 
  • it is technically feasible to complete the asset for use by the company
  • the company has the intention of completing the asset for either use or resale
  • the company has the ability to either use or sell the asset
  • it is possible to estimate how the asset will generate income
  • the company has adequate financial, technical and other resources to develop and use the asset
  • the expenditure incurred to develop the asset is measurable
If no intangible asset can be recognised based on the above, then development costs are recognised in profit and loss in the period in which they are incurred.
In the development phase of the internal project, the company has identified an intangible asset and demonstrated that the asset will generate probable future economic benefits. The company has undertaken and can consider the following development activities: 
  • the design, construction and testing of pre-production or pre-use prototypes and models
  • the design of tools, jigs, moulds and dies involving new technology
  • the design, construction and operation of a pilot plant that is not of a scale economically feasible for commercial production; and
  • the design, construction and testing of a chosen alternative for new or improved materials, devices, products, processes, systems or services.
1.3. Taxation
There is no corporation tax payable as the company incurred trade losses.
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 year 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.
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.
1.4. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
1.5. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.
1.6. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
1
Page 2
Page 3
3. Intangible Assets
Development Costs
£
Cost
As at 3 April 2023 -
Additions 70,608
As at 30 April 2024 70,608
Net Book Value
As at 30 April 2024 70,608
As at 3 April 2023 -
Intangible assets comprise acquisition costs and internally generated development costs related to cutting-edge technology BBQ's. The first product is an outdoor cooking device known as the SmartBBQ.
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses.
The cost includes the acquisition of the initial concept development of the SmartBBQ, which included 2D and 3D computer aided design and the initial product design for prototype. The cost of internally generated assets includes directly attributable costs of labour necessary to generate the asset as well as related professional fees regarding the granting of a patent. The patent relates to the ability to control the temperature and rotation of food holders based on the weight of food.
Intangible assets are amortised from the date they are available for use. Amortisation is charged to the Income Statement on a straight-line basis over the estimated useful life of the intangible asset, which is 20 years. Intangible assets with an indefinite useful life are tested for impairment annually. Amortisation periods and methods are reviewed annually and adjusted if appropriate.
Any intangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
4. Debtors
30 April 2024
£
Due within one year
Prepayments and accrued income 468
VAT Debtor 10,055
10,523
5. Creditors: Amounts Falling Due Within One Year
30 April 2024
£
Other creditors 37,500
Accruals and deferred income 1,500
Director's loan account 55,584
94,584
Included within Other creditors are monies received from investors which were converted to share capital following the reporting period.
Page 3
Page 4
6. Share Capital
30 April 2024
£
Allotted, Called up and fully paid 100
7. General Information
Doc Konto Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14777704 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
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