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 11326265 Mr H Heptner Mr D Kezinaitis Goodwille Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11326265 2022-12-31 11326265 2023-12-31 11326265 2023-01-01 2023-12-31 11326265 frs-core:CurrentFinancialInstruments 2023-12-31 11326265 frs-core:ComputerEquipment 2023-12-31 11326265 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11326265 frs-core:ComputerEquipment 2022-12-31 11326265 frs-core:OtherReservesSubtotal 2023-12-31 11326265 frs-core:SharePremium 2023-12-31 11326265 frs-core:ShareCapital 2023-12-31 11326265 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11326265 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11326265 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11326265 frs-bus:SmallEntities 2023-01-01 2023-12-31 11326265 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11326265 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11326265 frs-core:CostValuation 2022-12-31 11326265 frs-core:CostValuation 2023-12-31 11326265 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 11326265 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 11326265 frs-bus:Director1 2023-01-01 2023-12-31 11326265 frs-bus:Director2 2023-01-01 2023-12-31 11326265 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11326265 frs-countries:EnglandWales 2023-01-01 2023-12-31 11326265 2021-12-31 11326265 2022-12-31 11326265 2022-01-01 2022-12-31 11326265 frs-core:CurrentFinancialInstruments 2022-12-31 11326265 frs-core:OtherReservesSubtotal 2022-12-31 11326265 frs-core:SharePremium 2022-12-31 11326265 frs-core:ShareCapital 2022-12-31 11326265 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11326265
ApprovalMax Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11326265
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 4,958 321
Investments 4 163,376 163,376
168,334 163,697
CURRENT ASSETS
Debtors 5 347,648 237,567
Cash at bank and in hand 90,741 299,642
438,389 537,209
Creditors: Amounts Falling Due Within One Year 6 (131,485 ) (60,709 )
NET CURRENT ASSETS (LIABILITIES) 306,904 476,500
TOTAL ASSETS LESS CURRENT LIABILITIES 475,238 640,197
PROVISIONS FOR LIABILITIES
Provisions For Charges (258,056 ) (164,445 )
NET ASSETS 217,182 475,752
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium account 686,131 686,131
Other reserves 909,007 747,410
Income Statement (1,378,956 ) (958,789 )
SHAREHOLDERS' FUNDS 217,182 475,752
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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 H Heptner
Director
25 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. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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.
1.4. 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
1.5. 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.
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.
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1.6. 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.
1.7. 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
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.
1.8. 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.
1.9. Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
1.10. Shared-based payments
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recgonised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up differences between expected and actual outcomes.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2022: 1)
1 1
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3. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 1,467
Additions 5,860
As at 31 December 2023 7,327
Depreciation
As at 1 January 2023 1,146
Provided during the period 1,223
As at 31 December 2023 2,369
Net Book Value
As at 31 December 2023 4,958
As at 1 January 2023 321
4. Investments
Subsidiaries
£
Cost
As at 1 January 2023 163,376
As at 31 December 2023 163,376
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 163,376
As at 1 January 2023 163,376
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,020 18,584
Prepayments and accrued income 155,396 22,917
Other debtors 120 -
Amounts owed by group undertakings 191,112 196,066
347,648 237,567
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 41,636 5,575
Bank loans and overdrafts - 9,588
Other creditors 30,727 9,875
Taxation and social security 59,122 35,671
131,485 60,709
7. Share-based payment transactions
The company operates an unapproved share option plan for certain individuals. Under this plan, individuals are granted options over Ordinary shares with options vesting under differing schedules. Shares are exercisable on board approval.

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year under the Unapproved Share Option Plan.
Unapproved Options

2023
No.
image
2023
WAEP £
image
2022
No.
image
2022
WAEP £
image
Brought forward
87,900
5.04
114,700
5.43
Lapsed during the year
-
-
26,800
6.70
Granted during the year
69,400
19.37
-
-
Lapsed in the year
-
image
-
image
-
image
-
image
Outstanding at 31 December
157,300
image
11.36
image
87,900
image
5.04
image
Exercisable at 31 December
76,450
image
3.75
image
65,975
image
2.69
image


The Company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share schemes similar to the scheme the Company have in place.

During the year £161,597 charge (2022: £113,103) was recognised.
8. General Information
ApprovalMax Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11326265 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.

The functional currency of the financial statements is Pound Sterling (£).
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