Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12909887 Mr Benjamin Barbersmith Mr Thomas Frizzell Gayner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12909887 2023-02-28 12909887 2024-02-29 12909887 2023-03-01 2024-02-29 12909887 frs-core:CurrentFinancialInstruments 2024-02-29 12909887 frs-core:Non-currentFinancialInstruments 2024-02-29 12909887 frs-core:ComputerEquipment 2024-02-29 12909887 frs-core:ComputerEquipment 2023-03-01 2024-02-29 12909887 frs-core:ComputerEquipment 2023-02-28 12909887 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 12909887 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 12909887 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 12909887 frs-core:OtherReservesSubtotal 2024-02-29 12909887 frs-core:SharePremium 2024-02-29 12909887 frs-core:ShareCapital 2024-02-29 12909887 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12909887 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12909887 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12909887 frs-bus:SmallEntities 2023-03-01 2024-02-29 12909887 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12909887 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12909887 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 12909887 frs-bus:OrdinaryShareClass1 2024-02-29 12909887 frs-bus:Director1 2023-03-01 2024-02-29 12909887 frs-bus:Director2 2023-03-01 2024-02-29 12909887 frs-countries:EnglandWales 2023-03-01 2024-02-29 12909887 2022-02-28 12909887 2023-02-28 12909887 2022-03-01 2023-02-28 12909887 frs-core:CurrentFinancialInstruments 2023-02-28 12909887 frs-core:Non-currentFinancialInstruments 2023-02-28 12909887 frs-core:OtherReservesSubtotal 2023-02-28 12909887 frs-core:SharePremium 2023-02-28 12909887 frs-core:ShareCapital 2023-02-28 12909887 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 12909887 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28
Registered number: 12909887
Levellr Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Max Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12909887
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 32,608 45,932
Tangible Assets 5 13,148 9,500
45,756 55,432
CURRENT ASSETS
Debtors 6 290,114 69,488
Cash at bank and in hand 296,985 173,192
587,099 242,680
Creditors: Amounts Falling Due Within One Year 7 (99,660 ) (20,745 )
NET CURRENT ASSETS (LIABILITIES) 487,439 221,935
TOTAL ASSETS LESS CURRENT LIABILITIES 533,195 277,367
Creditors: Amounts Falling Due After More Than One Year 8 - (100,000 )
NET ASSETS 533,195 177,367
CAPITAL AND RESERVES
Called up share capital 9 117 111
Share premium account 849,968 249,974
Other reserves 89,863 -
Profit and Loss Account (406,753 ) (72,718 )
SHAREHOLDERS' FUNDS 533,195 177,367
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For the year ending 29 February 2024 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 Thomas Frizzell Gayner
Director
20 September 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
Levellr Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12909887 . The registered office is 2, Television Centre Soho Works, Wood Lane, London, W12 7FR.
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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future. 
2.3. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Development costs. It is amortised to the profit and loss account over its estimated economic life of 5 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:
Computer Equipment 20% straight line
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. 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.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
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, are recognised at transaction price including transaction costs.
Trade creditors 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.
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2.8. 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 profit / loss before taxation.
2.9. 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.
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.
2.10. 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.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.12. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. 
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 4)
8 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 March 2023 66,508
As at 29 February 2024 66,508
Amortisation
As at 1 March 2023 20,576
Impairment losses 13,324
As at 29 February 2024 33,900
...CONTINUED
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Page 5
Net Book Value
As at 29 February 2024 32,608
As at 1 March 2023 45,932
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 11,807
Additions 9,901
As at 29 February 2024 21,708
Depreciation
As at 1 March 2023 2,307
Provided during the period 6,253
As at 29 February 2024 8,560
Net Book Value
As at 29 February 2024 13,148
As at 1 March 2023 9,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 200,030 43,405
Prepayments and accrued income 46,721 10,896
Other debtors 43,363 15,187
290,114 69,488
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,796 7,746
Other taxes and social security 3,767 6,834
VAT 5,864 1,076
Accruals and deferred income 82,978 1,500
Directors' loan accounts 255 3,589
99,660 20,745
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Investment Funds Received - 100,000
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9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
117,483 Ordinary Shares of £ 0.001 each 117 111
Shares issued during the period: £
6,052 Ordinary Shares of £ 0.001 each 6
On 11th April 2023, 1,100 Ordinary shares of £0.001 each were allotted and fully paid at a price of £90.91 each.
On 12th April 2023, 4,952 Ordinary shares of £0.001 each were allotted and fully paid at a price of £100.97 each.
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