Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 30 June 2024 30 June 2024 06511451 Mr C A Bayne Mr R H Binns Mr A J Brown Mr M J Audis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06511451 2023-03-31 06511451 2024-06-30 06511451 2023-04-01 2024-06-30 06511451 frs-core:CurrentFinancialInstruments 2024-06-30 06511451 frs-core:ComputerEquipment 2024-06-30 06511451 frs-core:ComputerEquipment 2023-04-01 2024-06-30 06511451 frs-core:ComputerEquipment 2023-03-31 06511451 frs-core:SharePremium 2024-06-30 06511451 frs-core:ShareCapital 2024-06-30 06511451 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06511451 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-06-30 06511451 frs-bus:FilletedAccounts 2023-04-01 2024-06-30 06511451 frs-bus:SmallEntities 2023-04-01 2024-06-30 06511451 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-06-30 06511451 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-06-30 06511451 frs-core:CostValuation 2023-03-31 06511451 frs-core:AdditionsToInvestments 2024-06-30 06511451 frs-core:CostValuation 2024-06-30 06511451 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 06511451 frs-core:ProvisionsForImpairmentInvestments 2024-06-30 06511451 frs-bus:Director1 2023-04-01 2024-06-30 06511451 frs-bus:Director2 2023-04-01 2024-06-30 06511451 frs-bus:Director3 2023-04-01 2024-06-30 06511451 frs-bus:Director4 2023-04-01 2024-06-30 06511451 frs-countries:EnglandWales 2023-04-01 2024-06-30 06511451 2022-03-31 06511451 2023-03-31 06511451 2022-04-01 2023-03-31 06511451 frs-core:CurrentFinancialInstruments 2023-03-31 06511451 frs-core:SharePremium 2023-03-31 06511451 frs-core:ShareCapital 2023-03-31 06511451 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06511451
Oysta Technology Ltd
Unaudited Financial Statements
For the Period 1 April 2023 to 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06511451
30 June 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 22,327
Investments 5 150,813 100
150,813 22,427
CURRENT ASSETS
Stocks 6 - 179,822
Debtors 7 1,775,031 817,159
Cash at bank and in hand - 1,110,753
1,775,031 2,107,734
Creditors: Amounts Falling Due Within One Year 8 (14,253 ) (202,855 )
NET CURRENT ASSETS (LIABILITIES) 1,760,778 1,904,879
TOTAL ASSETS LESS CURRENT LIABILITIES 1,911,591 1,927,306
PROVISIONS FOR LIABILITIES
Deferred Taxation - (4,242 )
NET ASSETS 1,911,591 1,923,064
CAPITAL AND RESERVES
Called up share capital 9 934 934
Share premium account 155,595 155,595
Profit and Loss Account 1,755,062 1,766,535
SHAREHOLDERS' FUNDS 1,911,591 1,923,064
Page 1
Page 2
For the period ending 30 June 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 Profit and Loss Account.
On behalf of the board
Mr A J Brown
Director
29/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oysta Technology Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06511451 . The registered office is Armstrong Building Oakwood Drive, Loughborough University Science & Enterp, Loughborough, Leicestershire, LE11 3QF.
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. 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 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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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2.6. 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: 9 (2023: 18)
9 18
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 41,860
Disposals (41,860 )
Depreciation
As at 1 April 2023 19,533
Disposals (19,533 )
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 -
As at 1 April 2023 22,327
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5. Investments
Subsidiaries
£
Cost
As at 1 April 2023 100
Additions 150,713
As at 30 June 2024 150,813
Provision
As at 1 April 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 150,813
As at 1 April 2023 100
6. Stocks
30 June 2024 31 March 2023
£ £
Stock - 179,822
7. Debtors
30 June 2024 31 March 2023
£ £
Due within one year
Trade debtors - 606,830
Other debtors 1,775,031 210,329
1,775,031 817,159
8. Creditors: Amounts Falling Due Within One Year
30 June 2024 31 March 2023
£ £
Trade creditors - 71,760
Bank loans and overdrafts - 2,735
Other creditors - 55,833
Taxation and social security 14,253 72,527
14,253 202,855
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9. Share Capital
30 June 2024 31 March 2023
£ £
Allotted, Called up and fully paid 934 934
10. Acquisition and Hive up
Following the acquisition of Oysta Technology Limited and its subsidaries, by Access UK Limited the trade, assets, liabiltiies, rights and obligations of Oysta Technology Limited have been absorbed into Access UK Ltd at 14th August 2023.
The transfer was accounted for as a merger by absorption and consequently the company's assets and liabilities have been absorbed at their carrying values at the date of absorption. Further to the acquisition and hive-up of the company's assets and trade by Access UK Limited. It is the intention of the Directors to liquidate the company in the future. At the date of approving these financial statements it is the considered view of the directors' that there is no material difference between the going concern basis and any other basis under which the financial statements could have been prepared.
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