Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 30 August 2024 1 January 2023 31 December 2023 31 December 2023 07007100 Mr M Danielsson Ms E C Oberg true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07007100 2022-12-31 07007100 2023-12-31 07007100 2023-01-01 2023-12-31 07007100 frs-core:CurrentFinancialInstruments 2023-12-31 07007100 frs-core:PlantMachinery 2023-12-31 07007100 frs-core:PlantMachinery 2023-01-01 2023-12-31 07007100 frs-core:PlantMachinery 2022-12-31 07007100 frs-core:ShareCapital 2023-12-31 07007100 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07007100 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07007100 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07007100 frs-bus:SmallEntities 2023-01-01 2023-12-31 07007100 frs-bus:Audited 2023-01-01 2023-12-31 07007100 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07007100 1 2023-01-01 2023-12-31 07007100 frs-bus:Director1 2023-01-01 2023-12-31 07007100 frs-bus:Director2 2023-01-01 2023-12-31 07007100 frs-countries:EnglandWales 2023-01-01 2023-12-31 07007100 2021-12-31 07007100 2022-12-31 07007100 2022-01-01 2022-12-31 07007100 frs-core:CurrentFinancialInstruments 2022-12-31 07007100 frs-core:ShareCapital 2022-12-31 07007100 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07007100
Yubico Limited
Financial Statements
For The Year Ended 31 December 2023
Accountum Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 07007100
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 483 824
483 824
CURRENT ASSETS
Debtors 5 305,571 292,038
Cash at bank and in hand 228,073 137,010
533,644 429,048
Creditors: Amounts Falling Due Within One Year 6 (181,802 ) (154,974 )
NET CURRENT ASSETS (LIABILITIES) 351,842 274,074
TOTAL ASSETS LESS CURRENT LIABILITIES 352,325 274,898
NET ASSETS 352,325 274,898
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 351,325 273,898
SHAREHOLDERS' FUNDS 352,325 274,898
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 E C Oberg
Director
30/08/2024
The notes on pages 2 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Yubico Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07007100 . The registered office is Sweden House, 5 Upper Montagu Street, London, W1H 2AG.
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.
Changes to presentation 
The company has changed how it classifies certain income and cost amounts in the profit and loss account. The main trade of the company is to sell services to its parent company and as such this is the amount presented in turnover. In the prior period, this was presented as other income.
Costs associated with turnover have also been presented as costs of sales, whereas in prior periods they were presented within administrative costs.
In the opinion of the directors, the new presentation of the profit and loss account provides reliable information and is more relevant than the previously reported format.
The change in accounting presentation has been applied retrospectively, and comparative information has been restated accordingly. This change has had no impact on the overall profits or losses of the company and do not change any opening balances.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
Revenue from group companies is based on costs recharged at an agreed mark-up the timing of which coincides with the rendering of services to said companies.
2.3. 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:
Plant & Machinery straight line over 3 years
2.4. 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.
2.5. 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.
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2.6. 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.
2.7. Debtors
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.
2.8. Creditors
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 4,784
As at 31 December 2023 4,784
Depreciation
As at 1 January 2023 3,960
Provided during the period 341
As at 31 December 2023 4,301
Net Book Value
As at 31 December 2023 483
As at 1 January 2023 824
5. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 209,007 -
Other debtors 96,564 292,038
305,571 292,038
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,833 7,586
Amounts owed to group undertakings - 86,063
Other creditors 112,438 32,108
Taxation and social security 63,531 29,217
181,802 154,974
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7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
8. Related Party Transactions
The company is a wholly owned subsidiary member of it's group and has therefore taken advantage of the provisions of Section 33.1A of FRS102 not to disclose transactions with entities that are wholly owned members of the group.
Other than disclosed in these accounts, there were no other transactions with related parties that were not made under normal market conditions.
9. Ultimate Controlling Party
The company is a 100% subsidiary of Yubico AB, a company incorporated in Sweden at Kungsgatan 44, 2nd Floor, 111 35, Stockholm, Sweden.
10. Audit Information
The auditors report on the account of Yubico Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Malcolm McGready (Senior Statutory Auditor) for and on behalf of Ensors Accountants LLP , Statutory Auditor
Ensors Accountants LLP
159 Princes Street
Ipswich
Suffolk
IP1 1QJ
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