Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 13132306 Mr N P Blanchard Mr P Schoch true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13132306 2022-12-31 13132306 2023-12-31 13132306 2023-01-01 2023-12-31 13132306 frs-core:CurrentFinancialInstruments 2023-12-31 13132306 frs-core:ShareCapital 2023-12-31 13132306 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13132306 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13132306 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13132306 frs-bus:SmallEntities 2023-01-01 2023-12-31 13132306 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13132306 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13132306 1 2023-01-01 2023-12-31 13132306 frs-bus:Director1 2023-01-01 2023-12-31 13132306 frs-bus:Director2 2023-01-01 2023-12-31 13132306 frs-countries:EnglandWales 2023-01-01 2023-12-31 13132306 2021-12-31 13132306 2022-12-31 13132306 2022-01-01 2022-12-31 13132306 frs-core:CurrentFinancialInstruments 2022-12-31 13132306 frs-core:ShareCapital 2022-12-31 13132306 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 13132306
Apiax Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13132306
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 3 2,287 12,085
Cash at bank and in hand 24,985 8,319
27,272 20,404
Creditors: Amounts Falling Due Within One Year 4 (234,244 ) (193,542 )
NET CURRENT ASSETS (LIABILITIES) (206,972 ) (173,138 )
TOTAL ASSETS LESS CURRENT LIABILITIES (206,972 ) (173,138 )
NET LIABILITIES (206,972 ) (173,138 )
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account (206,973 ) (173,139 )
SHAREHOLDERS' FUNDS (206,972) (173,138)
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 N P Blanchard
Director
17 September 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Going Concern Disclosure
In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company for at least 12 months from the date of this report. The parent company has indicated their intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
1.3. Significant judgements and estimations
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.
1.4. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.5. Financial Instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute and financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently at amortised cost using the effective interest method.
1.6. 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.
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Page 3
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2022: 4)
4 4
3. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,287 12,085
2,287 12,085
4. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Amounts owed to group undertakings 234,234 188,914
Other creditors - 395
Taxation and social security 10 4,233
234,244 193,542
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
6. Related Party Transactions
During the period, the company raised invoices totalling £64,277 (2022 : £442,293) to Apiax AG, the parent company.

At the year end, Apiax Ltd owed £234,234 (2022 : £188,914) to Apiax AG. This amount is included in Amounts owed to group undertakings.
7. Ultimate Controlling Party
The parent company is Apiax AG, registered in Switzerland at the address Hohlstrasse 188, 8004, Zürich.
8. General Information
Apiax Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13132306 . The registered office is Office One, 1 Coldbath Square, London, EC1R 5HL.

The presentation currency of the financial statements is the Pound Sterling (£).
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