Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 09406563 Dr Vyomesh Bhatt Ms Purnima Chhabra iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09406563 2023-01-31 09406563 2024-01-31 09406563 2023-02-01 2024-01-31 09406563 frs-core:CurrentFinancialInstruments 2024-01-31 09406563 frs-core:Non-currentFinancialInstruments 2024-01-31 09406563 frs-core:BetweenOneFiveYears 2024-01-31 09406563 frs-core:ComputerEquipment 2024-01-31 09406563 frs-core:ComputerEquipment 2023-02-01 2024-01-31 09406563 frs-core:ComputerEquipment 2023-01-31 09406563 frs-core:FurnitureFittings 2024-01-31 09406563 frs-core:FurnitureFittings 2023-02-01 2024-01-31 09406563 frs-core:FurnitureFittings 2023-01-31 09406563 frs-core:InvestmentPropertyIncludedWithinPPE 2024-01-31 09406563 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-31 09406563 frs-core:MotorVehicles 2024-01-31 09406563 frs-core:MotorVehicles 2023-02-01 2024-01-31 09406563 frs-core:MotorVehicles 2023-01-31 09406563 frs-core:WithinOneYear 2024-01-31 09406563 frs-core:ShareCapital 2024-01-31 09406563 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09406563 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09406563 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09406563 frs-bus:SmallEntities 2023-02-01 2024-01-31 09406563 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09406563 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09406563 frs-bus:Director1 2023-02-01 2024-01-31 09406563 frs-bus:Director1 2023-01-31 09406563 frs-bus:Director1 2024-01-31 09406563 frs-bus:Director2 2023-02-01 2024-01-31 09406563 frs-countries:EnglandWales 2023-02-01 2024-01-31 09406563 2022-01-31 09406563 2023-01-31 09406563 2022-02-01 2023-01-31 09406563 frs-core:CurrentFinancialInstruments 2023-01-31 09406563 frs-core:Non-currentFinancialInstruments 2023-01-31 09406563 frs-core:BetweenOneFiveYears 2023-01-31 09406563 frs-core:WithinOneYear 2023-01-31 09406563 frs-core:ShareCapital 2023-01-31 09406563 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 09406563
Osiaris Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Norwich
Norfolk
NR11 6FD
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: 09406563
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 231,579 179,684
231,579 179,684
CURRENT ASSETS
Debtors 4 258,548 80,407
Investments 5 - 128,833
Cash at bank and in hand 444,790 316,499
703,338 525,739
Creditors: Amounts Falling Due Within One Year 6 (97,873 ) (43,443 )
NET CURRENT ASSETS (LIABILITIES) 605,465 482,296
TOTAL ASSETS LESS CURRENT LIABILITIES 837,044 661,980
Creditors: Amounts Falling Due After More Than One Year 7 (67,988 ) (38,032 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,032 ) (8,777 )
NET ASSETS 749,024 615,171
CAPITAL AND RESERVES
Called up share capital 9 2 2
Income Statement 749,022 615,169
SHAREHOLDERS' FUNDS 749,024 615,171
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For the year ending 31 January 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 Income Statement.
On behalf of the board
Dr Vyomesh Bhatt
Director
4 October 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.
1.2. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources.  The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant.  Actual results may differ from these estimates.  The estimates and underliyng assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.  The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
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 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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Straight Line
1.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
1.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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1.7. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
1.8. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
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3. Tangible Assets
Investment Properties Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 133,590 55,490 3,616 5,510 198,206
Additions 10,953 55,340 11,962 - 78,255
As at 31 January 2024 144,543 110,830 15,578 5,510 276,461
Depreciation
As at 1 February 2023 - 13,898 2,057 2,567 18,522
Provided during the period - 21,908 3,380 1,072 26,360
As at 31 January 2024 - 35,806 5,437 3,639 44,882
Net Book Value
As at 31 January 2024 144,543 75,024 10,141 1,871 231,579
As at 1 February 2023 133,590 41,592 1,559 2,943 179,684
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 82,040 80,314
Other debtors 4,685 -
Net wages 325 93
Directors' loan accounts 128,223 -
215,273 80,407
Due after more than one year
Corporation tax recoverable assets 43,275 -
43,275 -
258,548 80,407
5. Current Asset Investments
2024 2023
£ £
Unlisted investments - 128,833
- 128,833
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,801 6,427
Other loans 369 923
Corporation tax 83,136 33,103
Other taxes and social security 104 -
Credit card 441 965
Accruals and deferred income 2,022 1,890
Directors' loan accounts - 135
97,873 43,443
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 67,988 38,032
67,988 38,032
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 11,801 6,427
Between one and five years 67,988 38,032
79,789 44,459
79,789 44,459
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Dr Vyomesh Bhatt - 128,223 - - 128,223
11. General Information
Osiaris Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09406563 . The registered office is Unit 3, North Lynn Business Village Bergen Way, North Lynn Industrial Estate, King's Lynn, PE30 2JG.  The presentation currency of the financial statements is the Pound Sterling (£).
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