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Registered number: 08287814
SNOWFLOW LIMITED
Unaudited Financial Statements
For The Year Ended 30 November 2023
Adbell Advisory Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08287814
2023 2022
as restated
Notes
FIXED ASSETS
Tangible Assets 4 872,000 872,000
Investments 5 20,000 20,000
892,000 892,000
CURRENT ASSETS
Debtors 6 3,000 3,000
Cash at bank and in hand 3,429 2,756
6,429 5,756
Creditors: Amounts Falling Due Within One Year 7 (2,000 ) (3,030 )
NET CURRENT ASSETS (LIABILITIES) 4,429 2,726
TOTAL ASSETS LESS CURRENT LIABILITIES 896,429 894,726
Creditors: Amounts Falling Due After More Than One Year 8 (912,438 ) (909,278 )
NET LIABILITIES (16,009 ) (14,552 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (16,010 ) (14,553 )
SHAREHOLDERS' FUNDS (16,009) (14,552)
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For the year ending 30 November 2023 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 Profit and Loss Account.
On behalf of the board
Ms Barbara FRANCINI
Director
29/08/2024
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
SNOWFLOW LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08287814 . The registered office is Birchin Court, 20 Birchin Lane, London, London, EC3V 9DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 
2.2. Going Concern Disclosure
The financial statements are prepared on the basis of the going concern, which assumes that the company will be inoperational existence for the foreseeable future. This depends upon continued support of the shareholders. Thefinancial statements do not include any adjustments that would result if such support is withdrawn.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2.6. Foreign Currencies
Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balancesheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date oftransaction. Exchange differences are taken into account in arriving at the operating result.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to theextent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted orsubstantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different fromthose in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of thetiming difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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2.8. 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 statement of financial position 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 thereis alegally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or torealise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using theeffective interest method unless the arrangement constitutes a financing transaction, where the transaction ismeasured at the present value of the future receipts discounted at a market rate of interest.
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 thecompany after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies andpreference 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 thefuture receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course ofbusiness from suppliers. Accounts payable are classified as current liabilities if payment is due within one year orless. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction priceand subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretionof thecompany.
2.9. 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.10. Investments in associate
Investments in associate undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Investment Properties
Cost
As at 1 December 2022 872,000
As at 30 November 2023 872,000
Net Book Value
As at 30 November 2023 872,000
As at 1 December 2022 872,000
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5. Investments
Associates
Cost
As at 1 December 2022 20,000
As at 30 November 2023 20,000
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 20,000
As at 1 December 2022 20,000
The company's investments at the Balance Sheet date in the share capital of companies include the following:
Associated company
DATA 3 SRL
Registered office: Sesto San Giovanni, Milano, Italy
Nature of business: Software publishers
%
holding
20.00
31.12.2023
31.12.2022
Aggregate capital and reserves
87,877
103,659
Profit / (Loss) for the year
(15,780)
image
(16,670)
image
6. Debtors
2023 2022
as restated
Due within one year
Trade debtors 3,000 3,000
7. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
Trade creditors - 1,030
Other creditors 2,000 2,000
2,000 3,030
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
Shareholder's loan 912,438 909,278
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9. Share Capital
2023 2022
as restated
Allotted, Called up and fully paid 1 1
Allotted, called up and fully paid 1 ordinary share in £1 nominal value each.
10. Ultimate Controlling Party
The company's ultimate controlling party is Annamaria Binda by virtue of his ownership of 100% of the issued share capital in the company.
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