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 09256446 Mr O A Maitland Mr P Surtees Mr P J Cox Mr P J Cox true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09256446 2022-12-31 09256446 2023-12-31 09256446 2023-01-01 2023-12-31 09256446 frs-core:CurrentFinancialInstruments 2023-12-31 09256446 frs-core:ComputerEquipment 2023-12-31 09256446 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09256446 frs-core:ComputerEquipment 2022-12-31 09256446 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09256446 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09256446 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09256446 frs-core:FurnitureFittings 2023-12-31 09256446 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09256446 frs-core:FurnitureFittings 2022-12-31 09256446 frs-core:OtherResidualIntangibleAssets 2023-12-31 09256446 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 09256446 frs-core:OtherResidualIntangibleAssets 2022-12-31 09256446 frs-core:SharePremium 2023-12-31 09256446 frs-core:ShareCapital 2023-12-31 09256446 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09256446 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09256446 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09256446 frs-bus:SmallEntities 2023-01-01 2023-12-31 09256446 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09256446 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09256446 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09256446 frs-bus:OrdinaryShareClass1 2023-12-31 09256446 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 09256446 frs-bus:OrdinaryShareClass2 2023-12-31 09256446 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 09256446 frs-bus:OrdinaryShareClass3 2023-12-31 09256446 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 09256446 frs-bus:OrdinaryShareClass4 2023-12-31 09256446 1 2023-01-01 2023-12-31 09256446 frs-bus:Director1 2023-01-01 2023-12-31 09256446 frs-bus:Director2 2023-01-01 2023-12-31 09256446 frs-bus:Director3 2023-01-01 2023-12-31 09256446 frs-countries:EnglandWales 2023-01-01 2023-12-31 09256446 2021-12-31 09256446 2022-12-31 09256446 2022-01-01 2022-12-31 09256446 frs-core:CurrentFinancialInstruments 2022-12-31 09256446 frs-core:SharePremium 2022-12-31 09256446 frs-core:ShareCapital 2022-12-31 09256446 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09256446 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 09256446 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 09256446 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 09256446 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31
Registered number: 09256446
Capitalise.com Platform Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09256446
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 868 1,911
Tangible Assets 5 13,043 48,307
13,911 50,218
CURRENT ASSETS
Debtors 6 351,305 624,679
Investments 7 6 6
Cash at bank and in hand 340,648 2,741,545
691,959 3,366,230
Creditors: Amounts Falling Due Within One Year 8 (1,347,431 ) (701,330 )
NET CURRENT ASSETS (LIABILITIES) (655,472 ) 2,664,900
TOTAL ASSETS LESS CURRENT LIABILITIES (641,561 ) 2,715,118
NET (LIABILITIES)/ASSETS (641,561 ) 2,715,118
CAPITAL AND RESERVES
Called up share capital 9 3,232 3,232
Share premium account 17,402,003 17,402,003
Profit and Loss Account (18,046,796 ) (14,690,117 )
SHAREHOLDERS' FUNDS (641,561) 2,715,118
Page 1
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 P Surtees
Director
30 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Capitalise.com Platform Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09256446 . The registered office is 20 Wenlock Road, London, N1 7GU.

The presentation currency of the financial statements is the Pound Sterling (£).
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.
The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as the group qualifies as a small group, as defined by Section 383 of the Companies Act 2006. As such, these financial statements present information about the company as an individual entity and not about its group.
2.2. 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.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of seven years.
2.5. 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 Straight line over 3 years
Computer Equipment Straight line over 3 years
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. Financial Instruments - continued
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.
2.7. 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.
2.8. 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.
2.9. Development costs
Development costs are costs incurred in the process of creating new or improved products, services, processes or systems. The company recognises all development costs as an expense in the Profit and Loss Account in the period in which they are incurred.
This approach is taken because the future economic benefits of development activities are inherently uncertain, and therefore, it is more reliant and relevant to recognise these costs as incurred rather than capitalising and amortising them over future periods.
2.10. Change in Accounitng Policy
During the year ended 31 December 2023, the company changed its accounting policy regarding the treatment of development costs to provide more reliable and relevant information in the financial statements. Development costs were previously capitalised as an intangible asset where a future economic benefit was identified and amortised over their estimated useful life. Under the new policy, which was implemented on 1 January 2023, development costs are recognised as an expense in the Profit and Loss Account in the period in which they are incurred.
This change in accounting policy has been applied retrospectively in accordance with FRS 102, and prior year amounts have been restated as a result. The impact on the 2022 opening balances and 2022 comparative figures is detailed in Note 13.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2022: 56)
38 56
4. Intangible Assets
Patents and licences Development Costs Total
£ £ £
Cost
As at 1 January 2023 7,295 - 7,295
Disposals - - -
As at 31 December 2023 7,295 - 7,295
...CONTINUED
Page 4
Page 5
Amortisation
As at 1 January 2023 5,384 - 5,384
Provided during the period 1,043 - 1,043
Disposals - - -
As at 31 December 2023 6,427 - 6,427
Net Book Value
As at 31 December 2023 868 - 868
As at 1 January 2023 1,911 - 1,911
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 45,713 99,711 145,424
Additions - 2,663 2,663
Disposals - (30,302 ) (30,302 )
As at 31 December 2023 45,713 72,072 117,785
Depreciation
As at 1 January 2023 40,267 56,850 97,117
Provided during the period 4,783 27,783 32,566
Disposals - (24,941 ) (24,941 )
As at 31 December 2023 45,050 59,692 104,742
Net Book Value
As at 31 December 2023 663 12,380 13,043
As at 1 January 2023 5,446 42,861 48,307
6. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 55,929 50,991
Amounts owed by group undertakings 107,141 59,995
Other debtors 188,235 513,693
351,305 624,679
7. Current Asset Investments
2023 2022
as restated
£ £
Shares in subsidiaries 6 6
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Trade creditors 616,898 141,457
Amounts owed to group undertakings 31,951 33,794
Other creditors 241,547 387,235
Taxation and social security 457,035 138,844
1,347,431 701,330
9. Share Capital
2023 2022
as restated
Allotted, called up and fully paid £ £
2,504,106 Ordinary Shares of £ 0.001 each 2,504 2,504
26,164 Ordinary A shares of £ 0.001 each 26 26
348,004 Ordinary B shares of £ 0.001 each 348 348
354,054 Ordinary C shares of £ 0.001 each 354 354
3,232 3,232
10. Related Party Transactions
Included within creditors is £31,951 (2022: £33,794) due to Platfi Services, a subsidary of the Comapny.

Included within debtors is £107,141 (2022: £59,995) due from Capitalise.com Platform (PTY) Ltd, a subsidary of the Comapny.
11. Ultimate Controlling Party
After the year end, the company's ultimate controlling party became Mr P J Cox by virtue of his indirect contolling stake of the issued share capital in the company.
12. Restatement of Prior Year Amounts
As a result of the change in accounting policy (note 2.10), the 2022 opening balances and comparative figures presented in these financial statements have been restated. The adjustments made are summarised below:
Adjustment
Original
£
Restated
£
Adjustment £
Intagible asset addition (BS)
891,408
-
(891,408)
Amortisation of Development costs (P&L)
555,681
-
555,681
Product develpment costs (P&L)
660,002
1,551,410
891,408
Profit / (loss) after tax for the financial year
(3,970,860)
(4,306,587)
(335,727)
Retained earnings
(12,687,686)
(14,690,117)
(2,002,431)
The 2022 opening balances reflect the retrospective application of this change and results in changes to the opening retained earnings as at 1 January 2022. These adjustments have been reflected in the financial statements, with the cumulative effect recognised directly in retained earnings.
The 2022 comparative figures have been restated to reflect the expensing of development costs which were previously capitalised, leading to an increase in expenditure and a corresponding increase in retained losses.
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