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 11003851 Mr A Brown Mr R Lavelle Mr A Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11003851 2022-12-31 11003851 2023-12-31 11003851 2023-01-01 2023-12-31 11003851 frs-core:CurrentFinancialInstruments 2023-12-31 11003851 frs-core:Non-currentFinancialInstruments 2023-12-31 11003851 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11003851 frs-core:PlantMachinery 2023-12-31 11003851 frs-core:PlantMachinery 2023-01-01 2023-12-31 11003851 frs-core:PlantMachinery 2022-12-31 11003851 frs-core:ShareCapital 2023-12-31 11003851 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11003851 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11003851 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11003851 frs-bus:SmallEntities 2023-01-01 2023-12-31 11003851 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11003851 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11003851 frs-core:UnlistedNon-exchangeTraded 2023-12-31 11003851 frs-core:UnlistedNon-exchangeTraded 2022-12-31 11003851 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 11003851 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 11003851 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 11003851 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 11003851 frs-bus:Director1 2023-01-01 2023-12-31 11003851 frs-bus:Director2 2023-01-01 2023-12-31 11003851 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11003851 frs-countries:EnglandWales 2023-01-01 2023-12-31 11003851 2021-12-31 11003851 2022-12-31 11003851 2022-01-01 2022-12-31 11003851 frs-core:CurrentFinancialInstruments 2022-12-31 11003851 frs-core:Non-currentFinancialInstruments 2022-12-31 11003851 frs-core:ShareCapital 2022-12-31 11003851 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11003851
Elasticito Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11003851
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 736 1,473
Investments 5 80,086 80,086
80,822 81,559
CURRENT ASSETS
Debtors 6 704,185 478,507
Cash at bank and in hand 82,874 123,098
787,059 601,605
Creditors: Amounts Falling Due Within One Year 7 (380,961 ) (338,829 )
NET CURRENT ASSETS (LIABILITIES) 406,098 262,776
TOTAL ASSETS LESS CURRENT LIABILITIES 486,920 344,335
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (23,333 )
NET ASSETS 472,753 321,002
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 472,653 320,902
SHAREHOLDERS' FUNDS 472,753 321,002
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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.
On behalf of the board
Mr A Brown
Director
30th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Elasticito Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11003851 . The registered office is 128 City Road, London, EC1V 2NX.
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. 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 33% on cost
2.4. Financial Instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities,  including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.
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 the Statement of Income and Retained Earnings.
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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.
2.6. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the 
company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 2,210
As at 31 December 2023 2,210
Depreciation
As at 1 January 2023 737
Provided during the period 737
As at 31 December 2023 1,474
Net Book Value
As at 31 December 2023 736
As at 1 January 2023 1,473
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5. Investments
Unlisted
£
Cost
As at 1 January 2023 80,086
As at 31 December 2023 80,086
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 80,086
As at 1 January 2023 80,086
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 200,237 215,483
Amounts owed by group undertakings 503,094 249,765
Other debtors 854 13,259
704,185 478,507
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 289,010 265,118
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 5,991 5,991
Other creditors 2,543 147
Taxation and social security 73,417 57,573
380,961 338,829
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 23,333
9. Related Party Transactions
During the period, the company made a loan of £253,330 (2022: £207,954) to a company in which it holds a participating interest. The balance owed to the company at the period end is £503,094 (2022: £249,765), which is held under debtors due within one year. The loan is made interest free and is repayable on demand.
During the period, the company made payments of £178,511 (2022: £151,461) to companies in which the directors of this company are also directors of and participators in. At the period end, there was a balance owed of £76 (2022: £Nil) which is held under creditors due within one year.
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