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Registered number: 13560193
Niander Aurora Limited
Unaudited Financial Statements
For the Period 1 May 2023 to 31 December 2023
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountants' Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—10
Page 1
Company Information
Directors Francisco Ahedo
Philip Bilney
Jan-Vincent Finn
Richard Floyd
Bijal Patel
Company Number 13560193
Registered Office Wework, Aurora - 03-125 8 Devonshire Square
London
EC2M 4YJ
Accountants Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Page 1
Page 2
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Niander Aurora Limited For the Period 1 May 2023 to 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Niander Aurora Limited For the Period 1 May 2023 to 31 December 2023 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Niander Aurora Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Niander Aurora Limited and state those matters that we have agreed to state to the directors of Niander Aurora Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Niander Aurora Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Niander Aurora Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Niander Aurora Limited . You consider that Niander Aurora Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of Niander Aurora Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
03/07/2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Page 2
Page 3
Statement of Financial Position
Registered number: 13560193
31 December 2023 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 844,930 -
Tangible Assets 4 5,818 3,257
850,748 3,257
CURRENT ASSETS
Debtors 5 287,417 193,769
Cash at bank and in hand 236,409 319,970
523,826 513,739
Creditors: Amounts Falling Due Within One Year 6 (439,968 ) (355,263 )
NET CURRENT ASSETS (LIABILITIES) 83,858 158,476
TOTAL ASSETS LESS CURRENT LIABILITIES 934,606 161,733
Creditors: Amounts Falling Due After More Than One Year 7 (730,529 ) (117,814 )
NET ASSETS 204,077 43,919
CAPITAL AND RESERVES
Called up share capital 8 13 12
Share premium account 2,702,574 1,934,809
Income Statement (2,498,510 ) (1,890,902 )
SHAREHOLDERS' FUNDS 204,077 43,919
Page 3
Page 4
For the period 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 Income Statement.
On behalf of the board
Jan-Vincent Finn
Director
03/07/2024
The notes on pages 5 to 10 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2. 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.
1.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, of 4 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
1.4. 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:
Fixtures & Fittings 25% Straight Line
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1.5. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
1.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
1.7. 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.
...CONTINUED
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1.7. Taxation - continued
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.
1.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
1.9. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 10 (2023: 9)
10 9
3. Intangible Assets
Development Costs
£
Cost
As at 1 May 2023 -
Additions 859,251
As at 31 December 2023 859,251
Amortisation
As at 1 May 2023 -
Provided during the period 14,321
As at 31 December 2023 14,321
...CONTINUED
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Page 8
Net Book Value
As at 31 December 2023 844,930
As at 1 May 2023 -
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 May 2023 3,771
Additions 3,545
As at 31 December 2023 7,316
Depreciation
As at 1 May 2023 514
Provided during the period 984
As at 31 December 2023 1,498
Net Book Value
As at 31 December 2023 5,818
As at 1 May 2023 3,257
5. Debtors
31 December 2023 30 April 2023
£ £
Due within one year
Trade debtors 4,084 -
Other debtors 136,576 24,052
Corporation tax recoverable assets 146,757 169,717
287,417 193,769
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 April 2023
£ £
Trade creditors 243,344 184,842
Other taxes and social security 95,108 103,367
Other creditors 101,516 67,054
439,968 355,263
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7. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 30 April 2023
£ £
Other creditors 720,494 107,814
Directors loan account 10,035 10,000
730,529 117,814
8. Share Capital
31 December 2023 30 April 2023
£ £
Allotted, Called up and fully paid 13 12
Value Number 31 December 2023 30 April 2023
Allotted, called up and fully paid £ £ £
Ordinary Shares 0.01 1,033 11 10
Preference Shares 0.01 227 2 2
1,260 13 12
Nominal value Number Amount
Shares issued during the period: £ £
Ordinary Shares 0.01 41 1
Preference Shares 0.01 38 -
79 1
9. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £3,185 (April 2023: £2,747) were due to the fund. They are included in Other Creditors.
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10. Controlling Party
The company's controlling party is Jan-Vincent Finn by virtue of his majority ownership of the issued share capital in the company.
11. General Information
Niander Aurora Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13560193 . The registered office is Wework, Aurora - 03-125 8 Devonshire Square, London, EC2M 4YJ.
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