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 11080313 Mr Simon Bullivant Mr James Lamont Mr John Thornhill Mr Bruce MacFarlane Mr William Wellesley Ms Allison Yamoyany Ms Natasha Christie-Miller Ms Allison Yamoyany iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11080313 2022-12-31 11080313 2023-12-31 11080313 2023-01-01 2023-12-31 11080313 frs-core:CurrentFinancialInstruments 2023-12-31 11080313 frs-core:ComputerEquipment 2023-12-31 11080313 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11080313 frs-core:ComputerEquipment 2022-12-31 11080313 frs-core:WithinOneYear 2023-12-31 11080313 frs-core:SharePremium 2023-12-31 11080313 frs-core:ShareCapital 2023-12-31 11080313 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11080313 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11080313 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11080313 frs-bus:SmallEntities 2023-01-01 2023-12-31 11080313 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11080313 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11080313 frs-bus:Director1 2023-01-01 2023-12-31 11080313 frs-bus:Director2 2023-01-01 2023-12-31 11080313 frs-bus:Director3 2023-01-01 2023-12-31 11080313 frs-bus:Director4 2023-01-01 2023-12-31 11080313 frs-bus:Director5 2023-01-01 2023-12-31 11080313 frs-bus:Director6 2023-01-01 2023-12-31 11080313 frs-bus:Director7 2023-01-01 2023-12-31 11080313 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11080313 frs-countries:EnglandWales 2023-01-01 2023-12-31 11080313 2021-12-31 11080313 2022-12-31 11080313 2022-01-01 2022-12-31 11080313 frs-core:CurrentFinancialInstruments 2022-12-31 11080313 frs-core:BetweenOneFiveYears 2022-12-31 11080313 frs-core:WithinOneYear 2022-12-31 11080313 frs-core:SharePremium 2022-12-31 11080313 frs-core:ShareCapital 2022-12-31 11080313 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11080313
Sifted (EU) Ltd
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11080313
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,167 31,512
31,167 31,512
CURRENT ASSETS
Debtors 5 1,606,285 1,128,703
Cash at bank and in hand 838,023 3,238,397
2,444,308 4,367,100
Creditors: Amounts Falling Due Within One Year 6 (2,076,434 ) (1,452,859 )
NET CURRENT ASSETS (LIABILITIES) 367,874 2,914,241
TOTAL ASSETS LESS CURRENT LIABILITIES 399,041 2,945,753
NET ASSETS 399,041 2,945,753
CAPITAL AND RESERVES
Called up share capital 7 44 44
Share premium account 7,958,336 7,958,076
Profit and Loss Account (7,559,339 ) (5,012,367 )
SHAREHOLDERS' FUNDS 399,041 2,945,753
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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 Bruce MacFarlane
Director
17/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Sifted (EU) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11080313 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
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 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:
Computer Equipment Straight line over 3 years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 56 (2022: 46)
56 46
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 70,111
Additions 21,092
As at 31 December 2023 91,203
Depreciation
As at 1 January 2023 38,599
Provided during the period 21,437
As at 31 December 2023 60,036
Net Book Value
As at 31 December 2023 31,167
As at 1 January 2023 31,512
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 936,138 375,946
Prepayments and accrued income 670,147 752,757
1,606,285 1,128,703
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 120,548 23,093
Other taxes and social security 89,626 87,994
Other creditors 7,233 40,640
Accruals and deferred income 1,859,027 1,301,132
2,076,434 1,452,859
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 161,009 302,435
Later than one year and not later than five years - 161,009
161,009 463,444
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9. Related Party Transactions
As at 31 December 2023, the director C Woolley was owed £909 (2022: £909) by the company. The director J Thornhill was owed £907 (2022: £907) by the company.
These loan were interest free with no set repayment terms.
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