Acorah Software Products - Accounts Production 14.6.300 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08531385 Mr Thomas Dvorak Goodwille Ltd XroadMedia GmbH High Tech Campus, Gutheil-Schoder-Gasse 10, 1100 Wien, Austria true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08531385 2022-12-31 08531385 2023-12-31 08531385 2023-01-01 2023-12-31 08531385 frs-core:CurrentFinancialInstruments 2023-12-31 08531385 frs-core:BetweenOneFiveYears 2023-12-31 08531385 frs-core:ComputerEquipment 2023-12-31 08531385 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08531385 frs-core:ComputerEquipment 2022-12-31 08531385 frs-core:WithinOneYear 2023-12-31 08531385 frs-core:ShareCapital 2023-12-31 08531385 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08531385 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08531385 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08531385 frs-bus:SmallEntities 2023-01-01 2023-12-31 08531385 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08531385 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08531385 1 2023-01-01 2023-12-31 08531385 frs-bus:Director1 2023-01-01 2023-12-31 08531385 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 08531385 frs-countries:EnglandWales 2023-01-01 2023-12-31 08531385 2021-12-31 08531385 2022-12-31 08531385 2022-01-01 2022-12-31 08531385 frs-core:CurrentFinancialInstruments 2022-12-31 08531385 frs-core:BetweenOneFiveYears 2022-12-31 08531385 frs-core:WithinOneYear 2022-12-31 08531385 frs-core:ShareCapital 2022-12-31 08531385 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08531385
Xroadmedia Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Goodwille Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08531385
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,577 2,398
5,577 2,398
CURRENT ASSETS
Debtors 5 44,449 39,709
Cash at bank and in hand 15,238 22,447
59,687 62,156
Creditors: Amounts Falling Due Within One Year 6 (66,179 ) (63,777 )
NET CURRENT ASSETS (LIABILITIES) (6,492 ) (1,621 )
TOTAL ASSETS LESS CURRENT LIABILITIES (915 ) 777
PROVISIONS FOR LIABILITIES
Deferred Taxation (345 ) (455 )
NET (LIABILITIES)/ASSETS (1,260 ) 322
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (1,261 ) 321
SHAREHOLDERS' FUNDS (1,260) 322
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Thomas Dvorak
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
Xroadmedia Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08531385 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
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
Though the Company is operating at a loss, the Directors have a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Directors have considered a letter of support from its immediate parent company stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, the Directors continue to adopt the going concern basis in preparing the annual financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. 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.
2.5. 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:
Computer Equipment Straight Line - 50%
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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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.
2.8. 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.
2.9. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
2.10. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised 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 a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.12. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 5)
6 5
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 8,866
Additions 5,657
Disposals (1,248 )
As at 31 December 2023 13,275
Depreciation
As at 1 January 2023 6,468
Provided during the period 2,478
Disposals (1,248 )
As at 31 December 2023 7,698
Net Book Value
As at 31 December 2023 5,577
As at 1 January 2023 2,398
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 40,413 35,559
Corporation tax recoverable assets 193 -
VAT 3,843 4,150
44,449 39,709
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 687 6,208
Corporation tax - 193
Other taxes and social security 17,817 14,310
Other creditors 2,909 2,330
Accruals and deferred income 29,131 30,068
Amounts owed to group undertakings 15,635 10,668
66,179 63,777
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 46,200 -
Later than one year and not later than five years 53,900 -
100,100 -
9. Dividends
No dividends were proposed or paid during the current or prior year. 
10. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is XroadMedia GmbH , incorporated in Austria. Copies of the group accounts may be obtained from the secretary, High Tech Campus, Gutheil-Schoder-Gasse 10, 1100 Wien, Austria . The ultimate controlling party is XroadMedia GmbH who controls 100% of the shares of Xroadmedia Limited .
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