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 08725879 Mr Matthias Tillmann Mr Simon Thorpe Mr Mark Russell Mr Marcus Greenwood Ms Daryn Edgar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08725879 2022-12-31 08725879 2023-12-31 08725879 2023-01-01 2023-12-31 08725879 frs-core:CurrentFinancialInstruments 2023-12-31 08725879 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 08725879 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08725879 frs-core:OtherResidualIntangibleAssets 2023-12-31 08725879 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 08725879 frs-core:OtherResidualIntangibleAssets 2022-12-31 08725879 frs-core:PlantMachinery 2023-12-31 08725879 frs-core:PlantMachinery 2023-01-01 2023-12-31 08725879 frs-core:PlantMachinery 2022-12-31 08725879 frs-core:OtherReservesSubtotal 2023-12-31 08725879 frs-core:SharePremium 2023-12-31 08725879 frs-core:ShareCapital 2023-12-31 08725879 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08725879 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08725879 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08725879 frs-bus:SmallEntities 2023-01-01 2023-12-31 08725879 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08725879 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08725879 frs-core:CostValuation 2022-12-31 08725879 frs-core:CostValuation 2023-12-31 08725879 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 08725879 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08725879 frs-bus:Director1 2023-01-01 2023-12-31 08725879 frs-bus:Director2 2023-01-01 2023-12-31 08725879 frs-bus:Director3 2023-01-01 2023-12-31 08725879 frs-bus:Director4 2023-01-01 2023-12-31 08725879 frs-bus:Director5 2023-01-01 2023-12-31 08725879 frs-core:CurrentFinancialInstruments 2 2023-12-31 08725879 frs-countries:EnglandWales 2023-01-01 2023-12-31 08725879 2021-12-31 08725879 2022-12-31 08725879 2022-01-01 2022-12-31 08725879 frs-core:CurrentFinancialInstruments 2022-12-31 08725879 frs-core:OtherReservesSubtotal 2022-12-31 08725879 frs-core:SharePremium 2022-12-31 08725879 frs-core:ShareCapital 2022-12-31 08725879 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 08725879 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 08725879
Ubio Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Praddy Financial Consultancy Ltd
Chartered Management Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08725879
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,332,317 952,170
Tangible Assets 5 24,306 29,598
Investments 6 10,000 10,000
2,366,623 991,768
CURRENT ASSETS
Debtors 7 908,602 820,050
Cash at bank and in hand 2,672,404 3,569,989
3,581,006 4,390,039
Creditors: Amounts Falling Due Within One Year 8 (206,805 ) (462,665 )
NET CURRENT ASSETS (LIABILITIES) 3,374,201 3,927,374
TOTAL ASSETS LESS CURRENT LIABILITIES 5,740,824 4,919,142
NET ASSETS 5,740,824 4,919,142
CAPITAL AND RESERVES
Called up share capital 9 6,801 6,762
Share premium account 9,844,574 9,844,230
Other reserves 3,943 3,943
Profit and Loss Account (4,114,494 ) (4,935,793 )
SHAREHOLDERS' FUNDS 5,740,824 4,919,142
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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 Marcus Greenwood
Director
30/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ubio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08725879 . The registered office is 63-66 Hatton Garden, Fifth Floor, Suite 23, London England, EC1N 8LE.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software and systems. It is amortised to profit and loss account over its estimated economic life of 10 years.
The license fee paid for the use of a database during the year has been capitalised and amortised over 12 months.
The Senior Leadership Team and UBIO board have agreed to start capitalising software development costs starting the financial year ending December 2022. The costs capitalised relates to a percentage of the direct costs paid to Developers and Automators for building and improving our software. 
2.4. 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:
Plant & Machinery 33% Straight Line Method
Fixtures & Fittings 33% Straight Line Method
2.5. 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.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2022: 17)
19 17
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 1,002,284
Additions 1,564,803
As at 31 December 2023 2,567,087
Amortisation
As at 1 January 2023 50,114
Provided during the period 184,656
As at 31 December 2023 234,770
Net Book Value
As at 31 December 2023 2,332,317
As at 1 January 2023 952,170
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 58,710
Additions 11,076
As at 31 December 2023 69,786
Depreciation
As at 1 January 2023 29,112
Provided during the period 16,368
As at 31 December 2023 45,480
Net Book Value
As at 31 December 2023 24,306
As at 1 January 2023 29,598
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 10,000
As at 31 December 2023 10,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 10,000
As at 1 January 2023 10,000
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 383,112 700,065
Prepayments and accrued income 21,139 89,752
Other debtors 502,831 15,834
VAT 1,520 14,399
908,602 820,050
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Page 6
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 83,619 103,147
Other taxes and social security 76,474 71,243
Pensions Payable 21,512 22,745
Accruals and deferred income 25,200 265,530
206,805 462,665
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 6,801 6,762
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