Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2022 1 June 2021 false 1 June 2022 31 March 2023 31 March 2023 10172481 Mr B Smith Mr B Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10172481 2022-05-31 10172481 2023-03-31 10172481 2022-06-01 2023-03-31 10172481 frs-core:CurrentFinancialInstruments 2023-03-31 10172481 frs-core:Non-currentFinancialInstruments 2023-03-31 10172481 frs-core:ComputerEquipment 2023-03-31 10172481 frs-core:ComputerEquipment 2022-06-01 2023-03-31 10172481 frs-core:ComputerEquipment 2022-05-31 10172481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 10172481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-03-31 10172481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 10172481 frs-core:FurnitureFittings 2023-03-31 10172481 frs-core:FurnitureFittings 2022-06-01 2023-03-31 10172481 frs-core:FurnitureFittings 2022-05-31 10172481 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 10172481 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-06-01 2023-03-31 10172481 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-05-31 10172481 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 10172481 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-06-01 2023-03-31 10172481 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-05-31 10172481 frs-core:RevaluationReserve 2022-05-31 10172481 frs-core:RevaluationReserve 2023-03-31 10172481 frs-core:SharePremium 2023-03-31 10172481 frs-core:ShareCapital 2023-03-31 10172481 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10172481 frs-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-03-31 10172481 frs-bus:FilletedAccounts 2022-06-01 2023-03-31 10172481 frs-bus:SmallEntities 2022-06-01 2023-03-31 10172481 frs-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-03-31 10172481 frs-bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-03-31 10172481 frs-core:UnlistedNon-exchangeTraded 2023-03-31 10172481 frs-core:UnlistedNon-exchangeTraded 2022-05-31 10172481 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-05-31 10172481 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 10172481 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-05-31 10172481 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 10172481 frs-bus:Director1 2022-06-01 2023-03-31 10172481 frs-bus:CompanySecretary1 2022-06-01 2023-03-31 10172481 frs-countries:EnglandWales 2022-06-01 2023-03-31 10172481 2021-05-31 10172481 2022-05-31 10172481 2021-06-01 2022-05-31 10172481 frs-core:CurrentFinancialInstruments 2022-05-31 10172481 frs-core:Non-currentFinancialInstruments 2022-05-31 10172481 frs-core:RevaluationReserve 2022-05-31 10172481 frs-core:SharePremium 2022-05-31 10172481 frs-core:ShareCapital 2022-05-31 10172481 frs-core:RetainedEarningsAccumulatedLosses 2022-05-31
Registered number: 10172481
Jaevee Holdings Ltd
Unaudited Financial Statements
For the Period 1 June 2022 to 31 March 2023
GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 10172481
31 March 2023 31 May 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 5 612,549 697,594
Tangible Assets 6 8,881 13,295
Investments 7 7,381,375 7,381,375
8,002,805 8,092,264
CURRENT ASSETS
Debtors 8 134,926 160,093
Cash at bank and in hand 55 2,034
134,981 162,127
Creditors: Amounts Falling Due Within One Year 9 (1,018,257 ) (78,802 )
NET CURRENT ASSETS (LIABILITIES) (883,276 ) 83,325
TOTAL ASSETS LESS CURRENT LIABILITIES 7,119,529 8,175,589
Creditors: Amounts Falling Due After More Than One Year 10 - (1,044,848 )
NET ASSETS 7,119,529 7,130,741
CAPITAL AND RESERVES
Called up share capital 11 200 200
Share premium account 260,102 -
Revaluation reserve 13 7,200,000 7,200,000
Profit and Loss Account (340,773 ) (69,459 )
SHAREHOLDERS' FUNDS 7,119,529 7,130,741
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For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 B Smith
Director
09/10/2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Jaevee Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10172481 . The registered office is 86-90 Paul Street, London, EC2A 4NE.
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 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.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to the profit or loss account on a straight line basis over their expected useful economic lives of 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. 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:
Freehold Not depreciated
Leasehold Not depreciated
Fixtures & Fittings 15% reducing balance
Computer Equipment 20% straight line
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2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 10 (2022: 8)
10 8
4. Prior Period Adjustment
The comparative figures for the May 2022 are restated for the correction of the following:
Unlisted investments totalling £7,381,375 had been categorised as a tangible asset and are now classified correctly as unlisted investments.
Deferred tax on the upward revaluation of unlisted values totalling £1,800,000 had not previously been recognised and this has therefore been recognised as a liability on the balance sheet and also against the gross revaluation reserve figure of £7,200,000 to show the net revaluation reserve total of £5,400,000.
5. Intangible Assets
Development Costs
£
Cost
As at 1 June 2022 1,020,542
As at 31 March 2023 1,020,542
...CONTINUED
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Amortisation
As at 1 June 2022 322,948
Provided during the period 85,045
As at 31 March 2023 407,993
Net Book Value
As at 31 March 2023 612,549
As at 1 June 2022 697,594
6. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2022 - - 17,597 20,833 38,430
As at 31 March 2023 - - 17,597 20,833 38,430
Depreciation
As at 1 June 2022 - - 9,259 15,876 25,135
Provided during the period - - 1,042 3,372 4,414
As at 31 March 2023 - - 10,301 19,248 29,549
Net Book Value
As at 31 March 2023 - - 7,296 1,585 8,881
As at 1 June 2022 - - 8,338 4,957 13,295
7. Investments
Unlisted
£
Cost
As at 1 June 2022 7,381,375
As at 31 March 2023 7,381,375
Provision
As at 1 June 2022 -
As at 31 March 2023 -
Net Book Value
As at 31 March 2023 7,381,375
As at 1 June 2022 7,381,375
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Investments represent the shareholdings in subsidiary companies and are held at fair value as determined by the director.
8. Debtors
31 March 2023 31 May 2022
as restated
£ £
Due within one year
Amounts owed by participating interests 131,062 -
Other debtors 3,864 160,093
134,926 160,093
9. Creditors: Amounts Falling Due Within One Year
31 March 2023 31 May 2022
as restated
£ £
Trade creditors 12,983 7,673
Amounts owed to group undertakings 894,558 -
Other creditors 9,556 5,555
Taxation and social security 101,160 65,574
1,018,257 78,802
10. Creditors: Amounts Falling Due After More Than One Year
31 March 2023 31 May 2022
as restated
£ £
Other loans - 1,044,848
11. Share Capital
31 March 2023 31 May 2022
as restated
£ £
Allotted, Called up and fully paid 200 200
12. Directors Advances, Credits and Guarantees
Included within debtors is a loan of £2,889 (2022: Nil) to the director.
The above loan is unsecured, interest free and repayable on demand.
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13. Reserves
Revaluation Reserve
£
As at 1 June 2022 7,200,000
As at 31 March 2023 7,200,000
14. Related Party Transactions
At the year end the company owed £324,293 (2022: £558,453) to other group companies.
At the year end the company owed £570,265 (2022: £141,604) to its subsidiary company.
At the year end the company was owed £131,062 (2022: £18,330) by companies under the common control of the director.
15. Year-End Change
This period is a shorter period than the prior period following a change of year-end to align with other group companies. Prior period comparatives are for a full 12 month period however the current period is for 10 months and therefore figures are not directly comparable. 
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