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 06578390 Mr Nathan Elstub Mr Roger Gorman Mr. Ian Milbourn Mr Christopher Townsend Mr Anthony Buttanshaw false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06578390 2022-12-31 06578390 2023-12-31 06578390 2023-01-01 2023-12-31 06578390 frs-core:CurrentFinancialInstruments 2023-12-31 06578390 frs-core:ComputerEquipment 2023-12-31 06578390 frs-core:ComputerEquipment 2023-01-01 2023-12-31 06578390 frs-core:ComputerEquipment 2022-12-31 06578390 frs-core:FurnitureFittings 2023-12-31 06578390 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06578390 frs-core:FurnitureFittings 2022-12-31 06578390 frs-core:SharePremium 2023-12-31 06578390 frs-core:ShareCapital 2023-12-31 06578390 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06578390 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06578390 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06578390 frs-bus:SmallEntities 2023-01-01 2023-12-31 06578390 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06578390 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06578390 1 2023-01-01 2023-12-31 06578390 frs-bus:Director1 2023-01-01 2023-12-31 06578390 frs-bus:Director2 2023-01-01 2023-12-31 06578390 frs-bus:Director3 2023-01-01 2023-12-31 06578390 frs-bus:Director4 2023-01-01 2023-12-31 06578390 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06578390 frs-countries:EnglandWales 2023-01-01 2023-12-31 06578390 2021-12-31 06578390 2022-12-31 06578390 2022-01-01 2022-12-31 06578390 frs-core:CurrentFinancialInstruments 2022-12-31 06578390 frs-core:SharePremium 2022-12-31 06578390 frs-core:ShareCapital 2022-12-31 06578390 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06578390
ProFinda Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06578390
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,767 43,224
53,767 43,224
CURRENT ASSETS
Debtors 5 506,168 1,816,651
Investments 6 71 71
Cash at bank and in hand 864,039 1,508,765
1,370,278 3,325,487
Creditors: Amounts Falling Due Within One Year 7 (2,451,464 ) (2,568,297 )
NET CURRENT ASSETS (LIABILITIES) (1,081,186 ) 757,190
TOTAL ASSETS LESS CURRENT LIABILITIES (1,027,419 ) 800,414
NET (LIABILITIES)/ASSETS (1,027,419 ) 800,414
CAPITAL AND RESERVES
Called up share capital 8 4,013 3,814
Share premium account 13,958,968 12,309,354
Profit and Loss Account (14,990,400 ) (11,512,754 )
SHAREHOLDERS' FUNDS (1,027,419) 800,414
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Page 2
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 Roger Gorman
Director
16th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
ProFinda Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06578390 . The registered office is 12 New Fetter Lane, London, EC4A 1JP.
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.
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:
Fixtures & Fittings 50% on cost
Computer Equipment 50% on cost
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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 year 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.
Current 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 tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. 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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2.7. Investments
Investments are held at cost less accumulated impairment losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 43 (2022: 29)
43 29
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 500 117,203 117,703
Additions - 67,049 67,049
Disposals - (20,937 ) (20,937 )
As at 31 December 2023 500 163,315 163,815
Depreciation
As at 1 January 2023 82 74,397 74,479
Provided during the period 250 51,356 51,606
Disposals - (16,037 ) (16,037 )
As at 31 December 2023 332 109,716 110,048
Net Book Value
As at 31 December 2023 168 53,599 53,767
As at 1 January 2023 418 42,806 43,224
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 453,996 1,572,858
Other debtors 52,172 243,793
506,168 1,816,651
6. Current Asset Investments
2023 2022
£ £
Unlisted investments 71 71
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 210,115 55,915
Other creditors 1,831,361 2,445,048
Taxation and social security 409,988 67,334
2,451,464 2,568,297
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4,013 3,814
9. Related Party Transactions
Profinda IncProFinda Inc is a 100% subsidiary of ProFinda LimitedManagement charges of £60,861 (2022: £157,336) were charged by Profinda Inc to Profinda Ltd during the period

Profinda Inc

ProFinda Inc is a 100% subsidiary of ProFinda Limited

Management charges of £60,861 (2022: £157,336) were charged by Profinda Inc to Profinda Ltd during the period

10. Controlling Party Not Known
The company's ultimate controlling party is Mr Roger Gorman by virtue of his ownership of 25% of the issued share capital in the company.
11. Going Concern
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the foreseeable future.
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