Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC095752 Mr Angel Faus Tomas Mr Luis Faus Tomas Mr Masoud Hosseini-Gerami true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC095752 2022-12-31 SC095752 2023-12-31 SC095752 2023-01-01 2023-12-31 SC095752 frs-core:CurrentFinancialInstruments 2023-12-31 SC095752 frs-core:Non-currentFinancialInstruments 2023-12-31 SC095752 frs-core:BetweenOneFiveYears 2023-12-31 SC095752 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 SC095752 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 SC095752 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 SC095752 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 SC095752 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 SC095752 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 SC095752 frs-core:PlantMachinery 2023-12-31 SC095752 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC095752 frs-core:PlantMachinery 2022-12-31 SC095752 frs-core:WithinOneYear 2023-12-31 SC095752 frs-core:ShareCapital 2023-12-31 SC095752 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC095752 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC095752 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC095752 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC095752 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC095752 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC095752 1 2023-01-01 2023-12-31 SC095752 frs-bus:Director1 2023-01-01 2023-12-31 SC095752 frs-bus:Director2 2023-01-01 2023-12-31 SC095752 frs-bus:Director3 2023-01-01 2023-12-31 SC095752 1 2023-01-01 2023-12-31 SC095752 frs-countries:Scotland 2023-01-01 2023-12-31 SC095752 2021-12-31 SC095752 2022-12-31 SC095752 2022-01-01 2022-12-31 SC095752 frs-core:CurrentFinancialInstruments 2022-12-31 SC095752 frs-core:Non-currentFinancialInstruments 2022-12-31 SC095752 frs-core:BetweenOneFiveYears 2022-12-31 SC095752 frs-core:WithinOneYear 2022-12-31 SC095752 frs-core:ShareCapital 2022-12-31 SC095752 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 SC095752 1 2022-01-01 2022-12-31
Registered number: SC095752
Vlex Justis Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—9
Page 1
Balance Sheet
Registered number: SC095752
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 810,574 919,508
Tangible Assets 5 47,278 56,211
857,852 975,719
CURRENT ASSETS
Debtors 6 1,681,241 1,710,579
Cash at bank and in hand 357,021 408,239
2,038,262 2,118,818
Creditors: Amounts Falling Due Within One Year 7 (3,316,366 ) (2,856,968 )
NET CURRENT ASSETS (LIABILITIES) (1,278,104 ) (738,150 )
TOTAL ASSETS LESS CURRENT LIABILITIES (420,252 ) 237,569
Creditors: Amounts Falling Due After More Than One Year 8 (389,229 ) (541,411 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (10,640 )
NET LIABILITIES (809,481 ) (314,482 )
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and Loss Account (810,481 ) (315,482 )
SHAREHOLDERS' FUNDS (809,481) (314,482)
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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.
The financial statements were approved by the board of directors on 23 August 2024 and were signed on its behalf by:
Mr Masoud Hosseini-Gerami
Director
23 August 2024
The notes on pages 3 to 9 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vlex Justis Limited is a private company, limited by shares, incorporated in Scotland, the registered number is SC095752 . The registered office is 4th Floor 115 George Street, Edinburgh, Scotland, EH2 4JN.
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.
2.3. Turnover
Turnover is recognised at the point of invoice.
Single year subscriptions are recognised equally over the length of the subscription period and associated costs relating to the income are also expenses equally over the subscription period.
Multi-year subscriptions are recognised equally over the term of the subscription, with a full year’s income being recognised in the year the subscription commenced.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of assets to their residual values over their estimated useful life of 5 years.

Costs associated with maintaining computer software are recognised as an expense incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the company are recognised as intangible assets where the relevant criteria under FRS 102 are met.
2.5. Research and Development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
2.6. 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:
Leasehold Improvements 20% straight line
Plant and machinery 20% straight line
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2.7. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.

Assets acquired under hire purchase contracts are depreciated over their useful lives.

Assets acquired under finance leases are depreciated over the shorter of the lease term and 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.

2.8. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment. 
2.9. Foreign Currencies
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.
2.10. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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
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 asset reflects 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.
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2.11. Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2.12. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2.13. Cash at bank and in hand
Cash at bank and in hand are basic financial assets and 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.
i) Financial assets
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
ii) Financial liabilities
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
iii) Share capital
Ordinary shares are classified as equity.
iv) Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
...CONTINUED
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2.13. Cash at bank and in hand - continued
Provisions
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.14. Employee benefits
The company provides a range of benefits to employees, including bonus arrangements, paid holiday arrangements and defined contribution pension plans.
Short term benefits including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
The company operates bonus plans for employees. An expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payments under the plans as a result of past events and a reliable estimate of the obligation can be made.
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3. Average Number of Employees
2023 2022
Average number of employees, including directors, during the year 48 48
48 48
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 2,469,920
As at 31 December 2023 2,469,920
Amortisation
As at 1 January 2023 1,550,412
Provided during the period 108,934
As at 31 December 2023 1,659,346
Net Book Value
As at 31 December 2023 810,574
As at 1 January 2023 919,508
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5. Tangible Assets
Land & Property
Leasehold Improvements Plant and machinery Total
£ £ £
Cost
As at 1 January 2023 5,832 528,351 534,183
Additions - 20,481 20,481
As at 31 December 2023 5,832 548,832 554,664
Depreciation
As at 1 January 2023 3,744 474,228 477,972
Provided during the period 1,166 28,248 29,414
As at 31 December 2023 4,910 502,476 507,386
Net Book Value
As at 31 December 2023 922 46,356 47,278
As at 1 January 2023 2,088 54,123 56,211
6. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 523,400 626,173
Amounts owed by participating interests 468,343 219,874
Other debtors 593,048 768,082
1,584,791 1,614,129
Due after more than one year
Other debtors 96,450 96,450
1,681,241 1,710,579
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Trade creditors 43,970 42,872
Amounts owed to participating interests 306,131 -
Other creditors 2,888,545 2,740,902
Taxation and social security 77,720 73,194
3,316,366 2,856,968
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
£ £
Other creditors 389,229 541,411
9. Other Commitments
At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023 2022
as restated
£ £
Not later than one year 119,787 119,787
Later than one year and not later than five years 71,874 191,661
191,661 311,448
10. Ultimate Parent Undertaking and Controlling Party
Ultimate parent company
The parent company is VLEX Networks SL, incorporated in Spain. The registered office is Amogavers, 119, 3-1 08018 Barcelona, Spain
Ultimate controlling party
There is no ultimate controlling party.
11. Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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