Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 03697708 Mr G A Sewell Mr J M Wilkinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03697708 2022-12-31 03697708 2023-12-31 03697708 2023-01-01 2023-12-31 03697708 frs-core:CurrentFinancialInstruments 2023-12-31 03697708 frs-core:ComputerEquipment 2023-12-31 03697708 frs-core:ComputerEquipment 2023-01-01 2023-12-31 03697708 frs-core:ComputerEquipment 2022-12-31 03697708 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 03697708 frs-core:FurnitureFittings 2023-12-31 03697708 frs-core:FurnitureFittings 2023-01-01 2023-12-31 03697708 frs-core:FurnitureFittings 2022-12-31 03697708 frs-core:OtherResidualIntangibleAssets 2023-12-31 03697708 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 03697708 frs-core:OtherResidualIntangibleAssets 2022-12-31 03697708 frs-core:PlantMachinery 2023-12-31 03697708 frs-core:PlantMachinery 2023-01-01 2023-12-31 03697708 frs-core:PlantMachinery 2022-12-31 03697708 frs-core:CapitalRedemptionReserve 2023-12-31 03697708 frs-core:SharePremium 2023-12-31 03697708 frs-core:ShareCapital 2023-12-31 03697708 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03697708 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03697708 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03697708 frs-bus:SmallEntities 2023-01-01 2023-12-31 03697708 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03697708 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03697708 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03697708 frs-bus:OrdinaryShareClass1 2023-12-31 03697708 frs-core:UnlistedNon-exchangeTraded 2023-12-31 03697708 frs-core:UnlistedNon-exchangeTraded 2022-12-31 03697708 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 03697708 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 03697708 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 03697708 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 03697708 frs-bus:Director1 2023-01-01 2023-12-31 03697708 frs-bus:Director2 2023-01-01 2023-12-31 03697708 frs-countries:EnglandWales 2023-01-01 2023-12-31 03697708 2021-12-31 03697708 2022-12-31 03697708 2022-01-01 2022-12-31 03697708 frs-core:CurrentFinancialInstruments 2022-12-31 03697708 frs-core:CapitalRedemptionReserve 2022-12-31 03697708 frs-core:SharePremium 2022-12-31 03697708 frs-core:ShareCapital 2022-12-31 03697708 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 03697708 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31
Registered number: 03697708
Ebid Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 03697708
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 61 307
Tangible Assets 5 134 1,252
Investments 6 62 62
257 1,621
CURRENT ASSETS
Debtors 7 3,569 13,989
Cash at bank and in hand 622 50
4,191 14,039
Creditors: Amounts Falling Due Within One Year 8 (14,867 ) (13,079 )
NET CURRENT ASSETS (LIABILITIES) (10,676 ) 960
TOTAL ASSETS LESS CURRENT LIABILITIES (10,419 ) 2,581
NET (LIABILITIES)/ASSETS (10,419 ) 2,581
CAPITAL AND RESERVES
Called up share capital 9 117 117
Share premium account 99,975 99,975
Capital redemption reserve 8 8
Income Statement (110,519 ) (97,519 )
SHAREHOLDERS' FUNDS (10,419) 2,581
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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 J M Wilkinson
Director
26th 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
Ebid Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03697708 . The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.
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. Going Concern Disclosure
The directors, having considered the company forecasts and projections and after making enquiries have a reasonable expectation that the company has adequate resources to continue in operational existance for the forerseeable future. Accordingly the financial statements have been prepared on a going concern basis.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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
Expenditure on patents and registrations, where a new patent or registration is establised, has been capitalised as an intangible fixed asset and amortised over their expected useful lives of ten years on a straight line basis.
2.5. Tangible Fixed Assets and Depreciation
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Expenditure on website maintenance and updates is written off in the year incurred. Expenditure incurred on the website development is capitalised only to the extent that it is certain that it's future recoverability can reasonably be regarded as assured. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Website Development Costs 20% Straight line
Fixtures & Fittings 20% Straight line
Computer Equipment 33.33% Straight line
2.6. 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.
2.7. Exemption from preparing group accounts
The company and its subsidary undertaking comprise a small group. The company has taken advantage of the exemption provided by s.398 of the Companies Act 2006 from preparing group accounts. The financial statments therefore present information about the company as an individual undertaking and not about it's group. As permitted by accounting standards transactions between group companies have not been disclosed.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 2 2
2 2
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 20,767
As at 31 December 2023 20,767
Amortisation
As at 1 January 2023 20,460
Provided during the period 246
As at 31 December 2023 20,706
Net Book Value
As at 31 December 2023 61
As at 1 January 2023 307
5. Tangible Assets
Website Development Costs Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 492,070 1,123 25,271 518,464
As at 31 December 2023 492,070 1,123 25,271 518,464
Depreciation
As at 1 January 2023 490,818 1,123 25,271 517,212
Provided during the period 1,118 - - 1,118
As at 31 December 2023 491,936 1,123 25,271 518,330
Net Book Value
As at 31 December 2023 134 - - 134
As at 1 January 2023 1,252 - - 1,252
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6. Investments
Unlisted
£
Cost
As at 1 January 2023 62
As at 31 December 2023 62
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 62
As at 1 January 2023 62
Unlisted Investments represents shares in group undertakings. The company owns 100% of the equity shares of EBid Holdings USA Inc, a company registered in the United States of America. The aggregate amount of share capital and reserves at 31 December2023 amounted to (£4,018) and its profit for the year then ended amounted to £11,782.
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 2,646 3,453
Other taxes and social security 923 211
Amounts owed by group undertakings - 10,325
3,569 13,989
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,427 2,744
Other creditors 547 1,987
Accruals and deferred income 3,300 3,088
Directors' loan accounts 5,256 5,260
Amounts owed to group undertakings 2,337 -
14,867 13,079
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
11,712 Ordinary Shares of £ 0.010 each 117 117
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10. Related Party Transactions
Gasdigital LimitedMr Sewell, a director and shareholder, has a significant interest in Gasdigital LimitedGasdigital Limited supplied programming services during the year to the company amounting to £9,745. At the year end the balance owed to Gasdigital Limited amounted to £800 (31 December2022: £588)

Gasdigital Limited

Mr Sewell, a director and shareholder, has a significant interest in Gasdigital Limited

Gasdigital Limited supplied programming services during the year to the company amounting to £9,745. At the year end the balance owed to Gasdigital Limited amounted to £800 (31 December2022: £588)

G A SewellDirector and shareholderMr Sewell has a credit loan balance with the company which is unsecured, interest free and repayable on demand. At the year end the balance owed to G A Sewell amounted to £5,242 (31 December 2022: £5,246)

G A Sewell

Director and shareholder

Mr Sewell has a credit loan balance with the company which is unsecured, interest free and repayable on demand. At the year end the balance owed to G A Sewell amounted to £5,242 (31 December 2022: £5,246)

Ebid Holdings USA IncWholly owned subsidaryThe inter-company balance with its subsidiary is unsecured, interest free and repayable on demand. At the year end the balance owed from/(to) Ebid Holdings USA Inc. amounted to (£2,337) (31 December 2022:£10,325)

Ebid Holdings USA Inc

Wholly owned subsidary

The inter-company balance with its subsidiary is unsecured, interest free and repayable on demand. At the year end the balance owed from/(to) Ebid Holdings USA Inc. amounted to (£2,337) (31 December 2022:£10,325)

J M WilkinsonDirector and shareholderMr Wilkinson has a credit loan balance with the company, which is unsecured, interest free and repayable on demand. At the year end the balance owed to J M Wilkinson amounted to £15 (31 December 2022: (£15)

J M Wilkinson

Director and shareholder

Mr Wilkinson has a credit loan balance with the company, which is unsecured, interest free and repayable on demand. At the year end the balance owed to J M Wilkinson amounted to £15 (31 December 2022: (£15)

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