Acorah Software Products - Accounts Production 15.0.600 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 11159550 Mr Joseph Denne Mr William Lebens iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11159550 2023-01-31 11159550 2024-01-31 11159550 2023-02-01 2024-01-31 11159550 frs-core:CurrentFinancialInstruments 2024-01-31 11159550 frs-core:Non-currentFinancialInstruments 2024-01-31 11159550 frs-core:ComputerEquipment 2024-01-31 11159550 frs-core:ComputerEquipment 2023-02-01 2024-01-31 11159550 frs-core:ComputerEquipment 2023-01-31 11159550 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 11159550 frs-core:FurnitureFittings 2024-01-31 11159550 frs-core:FurnitureFittings 2023-02-01 2024-01-31 11159550 frs-core:FurnitureFittings 2023-01-31 11159550 frs-core:OtherResidualIntangibleAssets 2024-01-31 11159550 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 11159550 frs-core:OtherResidualIntangibleAssets 2023-01-31 11159550 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11159550 frs-bus:CompanyLimitedByGuarantee 2023-02-01 2024-01-31 11159550 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 11159550 frs-bus:SmallEntities 2023-02-01 2024-01-31 11159550 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11159550 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11159550 frs-bus:Director1 2023-02-01 2024-01-31 11159550 frs-bus:Director2 2023-02-01 2024-01-31 11159550 1 2023-02-01 2024-01-31 11159550 frs-countries:EnglandWales 2023-02-01 2024-01-31 11159550 2022-01-31 11159550 2023-01-31 11159550 2022-02-01 2023-01-31 11159550 frs-core:CurrentFinancialInstruments 2023-01-31 11159550 frs-core:Non-currentFinancialInstruments 2023-01-31 11159550 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 11159550 1 2022-02-01 2023-01-31
Registered number: 11159550
Edge Network Technologies Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11159550
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,055 22,015
Tangible Assets 5 - 191
15,055 22,206
CURRENT ASSETS
Debtors 6 128,657 13,890
Cash at bank and in hand 3,904 3,147
132,561 17,037
Creditors: Amounts Falling Due Within One Year 7 (185,590 ) (1,171,206 )
NET CURRENT ASSETS (LIABILITIES) (53,029 ) (1,154,169 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,974 ) (1,131,963 )
Creditors: Amounts Falling Due After More Than One Year 8 (13,333 ) (23,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,000 )
NET LIABILITIES (51,307 ) (1,158,296 )
Income and Expenditure Account (51,307 ) (1,158,296 )
MEMBERS' FUNDS (51,307) (1,158,296)
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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 and Expenditure Account.
On behalf of the board
Mr Joseph Denne
Director
31 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. General Information
Edge Network Technologies Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 11159550 . The registered office is 7 Bell Yard, London, England, WC2A 2JR.
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 have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the provision of services and is recognised at the point of invoice. If the provision of services spans the financial year end, it is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Website. It is amortised to income and expenditure account over its estimated economic life of 5 years.
2.5. 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:
Office equipment 25% straight line
Computer equipment 25% straight line
2.6. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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.
...CONTINUED
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2.7. Taxation - continued
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 surplus. 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 surplus 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 surplus 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 surplus or deficit, 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
2024 2023
Average number of employees, including directors, during the year 5 3
5 3
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 34,800
As at 31 January 2024 34,800
Amortisation
As at 1 February 2023 12,785
Provided during the period 6,960
As at 31 January 2024 19,745
Net Book Value
As at 31 January 2024 15,055
As at 1 February 2023 22,015
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5. Tangible Assets
Office equipment Computer equipment Total
£ £ £
Cost
As at 1 February 2023 5,465 40,871 46,336
As at 31 January 2024 5,465 40,871 46,336
Depreciation
As at 1 February 2023 5,430 40,715 46,145
Provided during the period 35 156 191
As at 31 January 2024 5,465 40,871 46,336
Net Book Value
As at 31 January 2024 - - -
As at 1 February 2023 35 156 191
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100,639 -
Other debtors 28,018 13,890
128,657 13,890
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 13,256 10,000
Amounts owed to participating interests - 1,067,424
Other creditors 99,015 93,782
Taxation and social security 73,319 -
185,590 1,171,206
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 23,333
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9. Related Party Transactions
Dadi+ Ltd
Intercompany
Management charges charged by the intercompany during the year was £Nil (2023 : £45,000).
Amount due to related party at the end of the year was £Nil (2023 : £1,067,424).
10. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
11. Crowdsale
In February 2018 the company issued 77.23m Edge utility tokens in exchange for Cryptocurrency through a Crowdsale event.

Due to the extreme volatility in relation to the value of the asset, the Directors have taken a prudent approach and not recognised this on the Balance Sheet. This is due to the difficulty in ascertaining the fair value of future economic benefits that would potentially flow to the entity. The Directors felt that recognition of such a volatile asset would artificially inflate the value of the companies Balance Sheet and in turn would result in the financial statements of the company not showing a true and fair view.
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