Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 06301324 Mr Ram Zetuny Mr Darren Elgin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06301324 2022-12-31 06301324 2023-12-31 06301324 2023-01-01 2023-12-31 06301324 frs-core:CurrentFinancialInstruments 2023-12-31 06301324 frs-core:Non-currentFinancialInstruments 2023-12-31 06301324 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 06301324 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 06301324 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 06301324 frs-core:FurnitureFittings 2023-12-31 06301324 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06301324 frs-core:FurnitureFittings 2022-12-31 06301324 frs-core:MotorVehicles 2023-12-31 06301324 frs-core:MotorVehicles 2023-01-01 2023-12-31 06301324 frs-core:MotorVehicles 2022-12-31 06301324 frs-core:ShareCapital 2023-12-31 06301324 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06301324 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06301324 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06301324 frs-bus:SmallEntities 2023-01-01 2023-12-31 06301324 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06301324 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06301324 frs-bus:Director1 2023-01-01 2023-12-31 06301324 frs-bus:Director1 2022-12-31 06301324 frs-bus:Director1 2023-12-31 06301324 frs-bus:Director2 2023-01-01 2023-12-31 06301324 frs-countries:EnglandWales 2023-01-01 2023-12-31 06301324 2021-12-31 06301324 2022-12-31 06301324 2022-01-01 2022-12-31 06301324 frs-core:CurrentFinancialInstruments 2022-12-31 06301324 frs-core:Non-currentFinancialInstruments 2022-12-31 06301324 frs-core:ShareCapital 2022-12-31 06301324 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06301324
Mixam UK Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06301324
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,496,073 1,228,246
Tangible Assets 5 19,554 33,178
1,515,627 1,261,424
CURRENT ASSETS
Debtors 6 735,490 464,498
Cash at bank and in hand 846,887 442,148
1,582,377 906,646
Creditors: Amounts Falling Due Within One Year 7 (1,508,531 ) (1,430,022 )
NET CURRENT ASSETS (LIABILITIES) 73,846 (523,376 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,589,473 738,048
Creditors: Amounts Falling Due After More Than One Year 8 (206,666 ) (346,667 )
NET ASSETS 1,382,807 391,381
CAPITAL AND RESERVES
Called up share capital 10 250,001 250,001
Profit and Loss Account 1,132,806 141,380
SHAREHOLDERS' FUNDS 1,382,807 391,381
Page 1
Page 2
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 Ram Zetuny
Director
03/07/2024
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
Mixam UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06301324 . The registered office is 6 Hercules Way, Watford, WD25 7GS.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Motor Vehicles 25% wdv
Fixtures & Fittings 25% wdv
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 51 (2022: 43)
51 43
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 1,681,289
Additions 536,551
As at 31 December 2023 2,217,840
Amortisation
As at 1 January 2023 453,043
Provided during the period 268,724
As at 31 December 2023 721,767
Net Book Value
As at 31 December 2023 1,496,073
As at 1 January 2023 1,228,246
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 80 172,288 172,368
Additions - 5,405 5,405
As at 31 December 2023 80 177,693 177,773
Depreciation
As at 1 January 2023 80 139,110 139,190
Provided during the period - 19,029 19,029
As at 31 December 2023 80 158,139 158,219
Net Book Value
As at 31 December 2023 - 19,554 19,554
As at 1 January 2023 - 33,178 33,178
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 56,553 50,028
Amounts owed by group undertakings 338,393 37,543
Other debtors 340,544 376,927
735,490 464,498
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 235,718 303,922
Bank loans and overdrafts 147,857 147,857
Amounts owed to group undertakings 722,371 797,998
Other creditors 206,334 180,245
Taxation and social security 196,251 -
1,508,531 1,430,022
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 206,666 346,667
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 250,001 250,001
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Ram Zetuny 248,841 3,197 - - 252,038
The above loan is unsecured, interest free and repayable on demand.
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