Acorah Software Products - Accounts Production 16.0.110 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 December 2023 31 December 2023 11798195 Mr Gautam Kainth Mr Saahil Nikhil Mehta Ms. Sarah Kerruish Mr John Nehme iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11798195 2023-01-31 11798195 2023-12-31 11798195 2023-02-01 2023-12-31 11798195 frs-core:CurrentFinancialInstruments 2023-12-31 11798195 frs-core:ComputerEquipment 2023-12-31 11798195 frs-core:ComputerEquipment 2023-02-01 2023-12-31 11798195 frs-core:ComputerEquipment 2023-01-31 11798195 frs-core:WithinOneYear 2023-12-31 11798195 frs-core:SharePremium 2023-12-31 11798195 frs-core:ShareCapital 2023-12-31 11798195 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11798195 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2023-12-31 11798195 frs-bus:FilletedAccounts 2023-02-01 2023-12-31 11798195 frs-bus:SmallEntities 2023-02-01 2023-12-31 11798195 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2023-12-31 11798195 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2023-12-31 11798195 frs-bus:OrdinaryShareClass1 2023-02-01 2023-12-31 11798195 frs-bus:OrdinaryShareClass1 2023-12-31 11798195 frs-bus:OrdinaryShareClass2 2023-02-01 2023-12-31 11798195 frs-bus:OrdinaryShareClass2 2023-12-31 11798195 frs-bus:Director1 2023-02-01 2023-12-31 11798195 frs-bus:Director2 2023-02-01 2023-12-31 11798195 frs-bus:Director3 2023-02-01 2023-12-31 11798195 frs-bus:Director4 2023-02-01 2023-12-31 11798195 frs-countries:EnglandWales 2023-02-01 2023-12-31 11798195 2022-01-31 11798195 2023-01-31 11798195 2022-02-01 2023-01-31 11798195 frs-core:CurrentFinancialInstruments 2023-01-31 11798195 frs-core:WithinOneYear 2023-01-31 11798195 frs-core:SharePremium 2023-01-31 11798195 frs-core:ShareCapital 2023-01-31 11798195 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 11798195 frs-bus:OrdinaryShareClass1 2022-02-01 2023-01-31 11798195 frs-bus:OrdinaryShareClass2 2022-02-01 2023-01-31
Registered number: 11798195
Plexaa Ltd
Unaudited Financial Statements
For the Period 1 February 2023 to 31 December 2023
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11798195
31 December 2023 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,552 2,500
8,552 2,500
CURRENT ASSETS
Debtors 5 137,321 43,115
Cash at bank and in hand 1,054,066 1,557,858
1,191,387 1,600,973
Creditors: Amounts Falling Due Within One Year 6 (74,432 ) (49,332 )
NET CURRENT ASSETS (LIABILITIES) 1,116,955 1,551,641
TOTAL ASSETS LESS CURRENT LIABILITIES 1,125,507 1,554,141
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,625 ) (56 )
NET ASSETS 1,123,882 1,554,085
CAPITAL AND RESERVES
Called up share capital 7 2 2
Share premium account 1,773,602 1,733,850
Profit and Loss Account (649,722 ) (179,767 )
SHAREHOLDERS' FUNDS 1,123,882 1,554,085
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Page 2
For the period ending 31 December 2023 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 Saahil Nikhil Mehta
Director
22 November 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
Plexaa Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11798195 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Disclosure of long or short period
The financial period was shortened from 31 January 2024 to 31 December 2023 therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
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. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future. 
The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.
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 3 years straight line
2.4. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
2.6. 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 profit / loss before taxation.
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2.7. Taxation
Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Research and Development
In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives. 
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. 
3. Average Number of Employees
Average number of employees, including directors, during the period was: 4 (2023: 1)
4 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 3,088
Additions 8,905
As at 31 December 2023 11,993
Depreciation
As at 1 February 2023 588
Provided during the period 2,853
As at 31 December 2023 3,441
Net Book Value
As at 31 December 2023 8,552
As at 1 February 2023 2,500
5. Debtors
31 December 2023 31 January 2023
£ £
Due within one year
Trade debtors - 3,550
Prepayments and accrued income 51,800 501
Other debtors 3,000 -
Corporation tax recoverable assets 67,988 32,684
VAT 14,533 6,380
137,321 43,115
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6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 January 2023
£ £
Trade creditors 37,305 23,543
Other taxes and social security 13,140 2,461
Other creditors 1,467 -
Accruals and deferred income 2,880 4,000
Directors' loan accounts 19,640 19,328
74,432 49,332
7. Share Capital
31 December 2023 31 January 2023
Allotted, called up and fully paid £ £
102,678 Ordinary Shares of £ 0.00001 each 1 1
98,758 Ordinary A shares of £ 0.00001 each 1 1
2 2
On 17th June 2023, 1,725 A Ordinary shares of £0.00001 each were allotted at a fully paid price of £23.04 per share.
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2023 31 January 2023
£ £
Not later than one year 21,000 -
21,000 -
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