Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 January 2023 false 1 April 2023 31 March 2024 31 March 2024 11388887 Mr Shaun Ng Dr James West iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11388887 2023-03-31 11388887 2024-03-31 11388887 2023-04-01 2024-03-31 11388887 frs-core:CurrentFinancialInstruments 2024-03-31 11388887 frs-core:Non-currentFinancialInstruments 2024-03-31 11388887 frs-core:ComputerEquipment 2024-03-31 11388887 frs-core:ComputerEquipment 2023-04-01 2024-03-31 11388887 frs-core:ComputerEquipment 2023-03-31 11388887 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 11388887 frs-core:FurnitureFittings 2024-03-31 11388887 frs-core:FurnitureFittings 2023-04-01 2024-03-31 11388887 frs-core:FurnitureFittings 2023-03-31 11388887 frs-core:OtherResidualIntangibleAssets 2024-03-31 11388887 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 11388887 frs-core:OtherResidualIntangibleAssets 2023-03-31 11388887 frs-core:ShareCapital 2024-03-31 11388887 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11388887 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11388887 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11388887 frs-bus:SmallEntities 2023-04-01 2024-03-31 11388887 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11388887 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11388887 frs-bus:Director1 2023-04-01 2024-03-31 11388887 frs-bus:Director1 2023-03-31 11388887 frs-bus:Director1 2024-03-31 11388887 frs-bus:Director2 2023-04-01 2024-03-31 11388887 frs-bus:Director2 2023-03-31 11388887 frs-bus:Director2 2024-03-31 11388887 frs-countries:EnglandWales 2023-04-01 2024-03-31 11388887 2022-12-31 11388887 2023-03-31 11388887 2023-01-01 2023-03-31 11388887 frs-core:CurrentFinancialInstruments 2023-03-31 11388887 frs-core:Non-currentFinancialInstruments 2023-03-31 11388887 frs-core:ShareCapital 2023-03-31 11388887 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11388887
Fifth Row Technologies Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11388887
31 March 2024 31 March 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 5 513,753 502,047
Tangible Assets 6 1,396 14,534
515,149 516,581
CURRENT ASSETS
Debtors 7 96,174 69,594
Cash at bank and in hand 628,065 102,614
724,239 172,208
Creditors: Amounts Falling Due Within One Year 8 (18,010 ) (42,140 )
NET CURRENT ASSETS (LIABILITIES) 706,229 130,068
TOTAL ASSETS LESS CURRENT LIABILITIES 1,221,378 646,649
Creditors: Amounts Falling Due After More Than One Year 9 (7,587,422 ) (6,885,453 )
NET LIABILITIES (6,366,044 ) (6,238,804 )
CAPITAL AND RESERVES
Called up share capital 10 80 80
Profit and Loss Account (6,366,124 ) (6,238,884 )
SHAREHOLDERS' FUNDS (6,366,044) (6,238,804)
Page 1
Page 2
For the year ending 31 March 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 Shaun Ng
Director
31 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fifth Row Technologies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11388887 . The registered office is Sierra Quebec Bravo 77 Marsh Wall, Level 7, London, E14 9SH.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are GDT tokens. GDT tokens are measured at cost on initial recognition and tested annually for impairment.
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:
Fixtures & Fittings straight line over 5 years
Computer Equipment straight line over 3 years
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.
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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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 year was: 7 (2023: 12)
7 12
4. Prior Period Adjustment
The company's management decided to reclassify £14,930.22 of costs paid on behalf of US entity  to intercompany loan. The managers believe that this will result in the accounts giving true and fair view.
5. Intangible Assets
Other
£
Cost
As at 1 April 2023 502,047
Additions 11,706
As at 31 March 2024 513,753
Net Book Value
As at 31 March 2024 513,753
As at 1 April 2023 502,047
6. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 2,700 83,347 86,047
Additions 157 540 697
As at 31 March 2024 2,857 83,887 86,744
Depreciation
As at 1 April 2023 1,250 70,263 71,513
Provided during the period 571 13,264 13,835
As at 31 March 2024 1,821 83,527 85,348
Net Book Value
As at 31 March 2024 1,036 360 1,396
As at 1 April 2023 1,450 13,084 14,534
Page 4
Page 5
7. Debtors
31 March 2024 31 March 2023
as restated
£ £
Due within one year
Trade debtors - 31,870
VAT 11,317 34,556
Directors' loan accounts 84,857 3,168
96,174 69,594
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
as restated
£ £
Other taxes and social security 16,906 39,829
Other creditors 1,087 2,311
Directors' loan accounts 17 -
18,010 42,140
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
as restated
£ £
Amounts owed to group undertakings 7,587,422 6,885,453
10. Share Capital
31 March 2024 31 March 2023
as restated
£ £
Allotted, Called up and fully paid 80 80
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Shaun Ng 3,250 - - - 64,939
Dr James West - - - - 19,918
The above loan is unsecured, interest free and repayable on demand.
Directors loans repaid in full in December 2024. 
Page 5