Acorah Software Products - Accounts Production 14.6.300 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 10665951 Mr Peter Gerwe Mr Michael Adams Mr Thomas Davidson true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10665951 2022-12-31 10665951 2023-12-31 10665951 2023-01-01 2023-12-31 10665951 frs-core:CurrentFinancialInstruments 2023-12-31 10665951 frs-core:Non-currentFinancialInstruments 2023-12-31 10665951 frs-core:ComputerEquipment 2023-12-31 10665951 frs-core:ComputerEquipment 2023-01-01 2023-12-31 10665951 frs-core:ComputerEquipment 2022-12-31 10665951 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 10665951 frs-core:FurnitureFittings 2023-12-31 10665951 frs-core:FurnitureFittings 2023-01-01 2023-12-31 10665951 frs-core:FurnitureFittings 2022-12-31 10665951 frs-core:OtherResidualIntangibleAssets 2023-12-31 10665951 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 10665951 frs-core:OtherResidualIntangibleAssets 2022-12-31 10665951 frs-core:OtherReservesSubtotal 2023-12-31 10665951 frs-core:SharePremium 2023-12-31 10665951 frs-core:ShareCapital 2023-12-31 10665951 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10665951 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10665951 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 10665951 frs-bus:SmallEntities 2023-01-01 2023-12-31 10665951 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10665951 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10665951 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 10665951 frs-bus:OrdinaryShareClass2 2023-12-31 10665951 frs-bus:PreferenceShareClass2 2023-01-01 2023-12-31 10665951 frs-bus:PreferenceShareClass2 2023-12-31 10665951 frs-bus:PreferenceShareClass3 2023-01-01 2023-12-31 10665951 frs-bus:PreferenceShareClass3 2023-12-31 10665951 1 2023-01-01 2023-12-31 10665951 frs-bus:Director1 2023-01-01 2023-12-31 10665951 frs-bus:Director2 2023-01-01 2023-12-31 10665951 frs-bus:Director3 2023-01-01 2023-12-31 10665951 frs-core:CurrentFinancialInstruments 6 2023-12-31 10665951 frs-core:Non-currentFinancialInstruments 8 2023-12-31 10665951 frs-countries:EnglandWales 2023-01-01 2023-12-31 10665951 2021-12-31 10665951 2022-12-31 10665951 2022-01-01 2022-12-31 10665951 frs-core:CurrentFinancialInstruments 2022-12-31 10665951 frs-core:Non-currentFinancialInstruments 2022-12-31 10665951 frs-core:OtherReservesSubtotal 2022-12-31 10665951 frs-core:SharePremium 2022-12-31 10665951 frs-core:ShareCapital 2022-12-31 10665951 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 10665951 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 10665951 frs-bus:PreferenceShareClass2 2022-01-01 2022-12-31 10665951 frs-bus:PreferenceShareClass3 2022-01-01 2022-12-31 10665951 frs-core:CurrentFinancialInstruments 6 2022-12-31 10665951 frs-core:Non-currentFinancialInstruments 8 2022-12-31
Registered number: 10665951
Storyfirst Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 10665951
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2 277
Tangible Assets 5 810 461
812 738
CURRENT ASSETS
Stocks 6 159,214 -
Debtors 7 5,511,101 5,500,215
Investments 8 18 18
Cash at bank and in hand 13,175 71,967
5,683,508 5,572,200
Creditors: Amounts Falling Due Within One Year 9 (2,094,343 ) (1,693,520 )
NET CURRENT ASSETS (LIABILITIES) 3,589,165 3,878,680
TOTAL ASSETS LESS CURRENT LIABILITIES 3,589,977 3,879,418
Creditors: Amounts Falling Due After More Than One Year 10 (6,773,186 ) (6,673,848 )
NET LIABILITIES (3,183,209 ) (2,794,430 )
CAPITAL AND RESERVES
Called up share capital 11 214,001 214,001
Share premium account 4,383,879 4,383,879
Other reserves 11 11
Income Statement (7,781,100 ) (7,392,321 )
SHAREHOLDERS' FUNDS (3,183,209) (2,794,430)
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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 Income Statement.
On behalf of the board
Mr Peter Gerwe
Director
19 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Storyfirst Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10665951 . The registered office is 1 Mountview Court, 310 Friern Barnet Lane, London, N20 0LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Consolidation
In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
2.2. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from its shareholders that they will continue to give financial support to the company for the forseeable future.
On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustment would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
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 rendering of services.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development. It is amortised to income statement 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:
Fixtures & Fittings 25.00% Straight line
Computer Equipment 33.33% Straight line
2.6. Stocks and Work in Progress
Stocks and work in progress represents project development costs. Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct costs and those overheads that have been incurred in bringing the work in progress to their present condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.7. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
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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 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement 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: 2 (2022: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 1,380
As at 31 December 2023 1,380
Amortisation
As at 1 January 2023 1,103
Provided during the period 275
As at 31 December 2023 1,378
Net Book Value
As at 31 December 2023 2
As at 1 January 2023 277
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 28,647 3,061 31,708
Additions - 1,207 1,207
As at 31 December 2023 28,647 4,268 32,915
Depreciation
As at 1 January 2023 28,647 2,600 31,247
Provided during the period - 858 858
As at 31 December 2023 28,647 3,458 32,105
Net Book Value
As at 31 December 2023 - 810 810
As at 1 January 2023 - 461 461
6. Stocks
2023 2022
£ £
Work in progress 159,214 -
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 636,151 654,110
Other debtors 34,077 42,177
VAT - 16,015
Amounts owed by group undertakings 4,840,873 4,787,913
5,511,101 5,500,215
8. Current Asset Investments
2023 2022
£ £
Unlisted investments 18 18
On 24 June 2021 the company purchased 15% of the 118 £1 ordinary share capital of Rainmaker Pictures Limited, a company incorporated in England and Wales.
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,661,340 1,535,945
Other taxes and social security 4,415 12,576
VAT 8,265 -
Other creditors 1,367 1,675
Accruals and deferred income 2,100 23,336
Directors' loan accounts 416,856 119,988
2,094,343 1,693,520
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors long term 5,848,275 5,748,937
Amounts owed to related parties 924,911 924,911
6,773,186 6,673,848
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
8,098,550 Ordinary A shares of £ 0.000011 each 89 89
Preference Shares
2023 2022
Allotted, called up and fully paid £ £
5,101,449 Preference A shares of £ 0.000011 each 56 56
2,138,557 Preference B shares of £ 0.100000 each 213,856 213,856
213,912 213,912
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12. Related Party Transactions
Twelve Town LimitedTwelve Town Limited is owned by Storyfirst LimitedAt year end Twelve Town Limited owed Storyfirst Limited £4,007,700 (2022: £3,963,754)

Twelve Town Limited

Twelve Town Limited is owned by Storyfirst Limited

At year end Twelve Town Limited owed Storyfirst Limited £4,007,700 (2022: £3,963,754)

13. Ultimate Controlling Party
The company does not have an ultimate controlling party as no shareholder has a majority of the issued voting share capital in the company.
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