Acorah Software Products - Accounts Production 16.0.110 false true true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 10406018 Mr Bertrand Foing Mr Olivier Wahl Mr Anthony Woolley Professor Yike Guo IQ Capital Director Nominees Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10406018 2023-10-31 10406018 2024-10-31 10406018 2023-11-01 2024-10-31 10406018 frs-core:CurrentFinancialInstruments 2024-10-31 10406018 frs-core:BetweenOneFiveYears 2024-10-31 10406018 frs-core:ComputerEquipment 2024-10-31 10406018 frs-core:ComputerEquipment 2023-11-01 2024-10-31 10406018 frs-core:ComputerEquipment 2023-10-31 10406018 frs-core:PlantMachinery 2024-10-31 10406018 frs-core:PlantMachinery 2023-11-01 2024-10-31 10406018 frs-core:PlantMachinery 2023-10-31 10406018 frs-core:WithinOneYear 2024-10-31 10406018 frs-core:OtherReservesSubtotal 2024-10-31 10406018 frs-core:SharePremium 2024-10-31 10406018 frs-core:ShareCapital 2024-10-31 10406018 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 10406018 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 10406018 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 10406018 frs-bus:SmallEntities 2023-11-01 2024-10-31 10406018 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 10406018 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 10406018 frs-core:UnlistedNon-exchangeTraded 2024-10-31 10406018 frs-core:UnlistedNon-exchangeTraded 2023-10-31 10406018 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-10-31 10406018 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-10-31 10406018 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-10-31 10406018 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-10-31 10406018 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-10-31 10406018 frs-bus:Director1 2023-11-01 2024-10-31 10406018 frs-bus:Director2 2023-11-01 2024-10-31 10406018 frs-bus:Director3 2023-11-01 2024-10-31 10406018 frs-bus:Director4 2023-11-01 2024-10-31 10406018 frs-bus:Director5 2023-11-01 2024-10-31 10406018 frs-countries:EnglandWales 2023-11-01 2024-10-31 10406018 2022-10-31 10406018 2023-10-31 10406018 2022-11-01 2023-10-31 10406018 frs-core:CurrentFinancialInstruments 2023-10-31 10406018 frs-core:BetweenOneFiveYears 2023-10-31 10406018 frs-core:WithinOneYear 2023-10-31 10406018 frs-core:OtherReservesSubtotal 2023-10-31 10406018 frs-core:SharePremium 2023-10-31 10406018 frs-core:ShareCapital 2023-10-31 10406018 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 10406018
Secretarium Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10406018
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64,785 101,496
Investments 5 65,147 108,708
129,932 210,204
CURRENT ASSETS
Debtors 6 591,515 704,614
Cash at bank and in hand 367,836 945,824
959,351 1,650,438
Creditors: Amounts Falling Due Within One Year 7 (228,979 ) (208,463 )
NET CURRENT ASSETS (LIABILITIES) 730,372 1,441,975
TOTAL ASSETS LESS CURRENT LIABILITIES 860,304 1,652,179
NET ASSETS 860,304 1,652,179
CAPITAL AND RESERVES
Called up share capital 8 131 131
Share premium account 4,925,667 4,915,667
Other reserves 15 15
Profit and Loss Account (4,065,509 ) (3,263,634 )
SHAREHOLDERS' FUNDS 860,304 1,652,179
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For the year ending 31 October 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.
The financial statements were approved by the board of directors on 18 November 2024 and were signed on its behalf by:
Mr Bertrand Foing
Director
18 November 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
Secretarium Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 10406018 . The registered office is 8-9 Well Court, London, EC4M 9DN.
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 company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
In assessing going concern, the directors based their consideration on cash flow forecasts which cover the next 2 years. The forecasts are based on assumptions which include: 
1) conservative estimates of future revenue projections which include new contracts currently at the final stage of agreement and opportunities to scale up new and existing contracts, 
2) future fundraising from external investors. 
The financial statements do not include any adjustments that may result from any significant changes in the assumptions used in preparing the cash-flow forecasts.
2.3. Significant judgements and estimations
The preparation of financial statements requires management to make judgements, estimates and assumptions which
affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for
expenses during the period. However, the nature of estimation means that actual outcomes could differ from those
estimates.
In preparing these financial statements, the directors have made the following judgements:
Share option and other share-based payment charges
FRS 102 requires the grant date fair value of share-based payments awards granted to employees and contractors to
be recognised as an expense, with a corresponding increase in equity, over the period in which the employees and
contractors become unconditionally entitled to the awards. Share options issued to the company’s employees and
contractors will only be exercised on an exit event. At the date of these financial statements management has
determined that an exit event is not probable and therefore no share-based payment charges have been recorded in
these financial statements
2.4. Turnover
Revenue is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period in which the services are provided.

2.5. Research and Development
Expenditure on research and development is written off in the year it is incurred.
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2.6. 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:
Plant & Machinery 5 years on a straight line basis
Computer Equipment 3 years on a straight line basis
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. 
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss. 
2.7. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Fixed assets investments
Investments in subsidiaries and associates are held at cost less accumulated impairment losses.
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 within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.8. 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.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current tax for the year is recognised in profit or loss.
2.10. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.
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2.11. Related Party Exemption
The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries within the group.

Preparation of consolidated financial statements

The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.

3. Average Number of Employees
Average number of employees during the year was as follows: 15 (2023: 18)
15 18
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 77,871 83,894 161,765
As at 31 October 2024 77,871 83,894 161,765
Depreciation
As at 1 November 2023 13,103 47,166 60,269
Provided during the period 15,575 21,136 36,711
As at 31 October 2024 28,678 68,302 96,980
Net Book Value
As at 31 October 2024 49,193 15,592 64,785
As at 1 November 2023 64,768 36,728 101,496
5. Investments
Unlisted
£
Cost
As at 1 November 2023 108,708
Disposals (43,561 )
As at 31 October 2024 65,147
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 65,147
As at 1 November 2023 108,708
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,000 -
Other debtors 562,515 704,614
591,515 704,614
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 316 50,259
Other creditors 128,723 101,176
Taxation and social security 99,940 57,028
228,979 208,463
Included within other creditors are outstanding pension contributions totalling £10,458 (2023: £23,511)
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 131 131
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 232,500 221,250
Later than one year and not later than five years 497,250 729,750
729,750 951,000
10. Related Party Transactions
During the year the company made loans to a director of £4,597 (2023: £311). As at 31 October 2024 Secretarium Ltd was owed £20,450 (2023: £15,853) by those directors. All balances attract interest at HMRC's approved rate of 2% for this period and are repayable upon demand.
Also, during the year, 51% of shares in subsidiary was sold to a director at the loss of £39,281 (2023: £Nil).
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