Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 10 February 2022 false 1 March 2023 28 February 2024 28 February 2024 13907718 Mr Raul Cesan Mr Alessandro Cesan Mr Esteban Cesan Mr Massimiliano Maestretti Mr Murad Mohd Faisal Qasem Mr Marwan Albraheem Mr Wayne Thilwind iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13907718 2023-02-28 13907718 2024-02-28 13907718 2023-03-01 2024-02-28 13907718 frs-core:CurrentFinancialInstruments 2024-02-28 13907718 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-28 13907718 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-01 2024-02-28 13907718 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 13907718 frs-core:SharePremium 2024-02-28 13907718 frs-core:ShareCapital 2024-02-28 13907718 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13907718 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13907718 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13907718 frs-bus:SmallEntities 2023-03-01 2024-02-28 13907718 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13907718 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13907718 frs-core:CostValuation 2023-02-28 13907718 frs-core:AdditionsToInvestments 2024-02-28 13907718 frs-core:CostValuation 2024-02-28 13907718 frs-core:ProvisionsForImpairmentInvestments 2023-02-28 13907718 frs-core:ProvisionsForImpairmentInvestments 2024-02-28 13907718 frs-bus:Director1 2023-03-01 2024-02-28 13907718 frs-bus:Director2 2023-03-01 2024-02-28 13907718 frs-bus:Director3 2023-03-01 2024-02-28 13907718 frs-bus:Director4 2023-03-01 2024-02-28 13907718 frs-bus:Director5 2023-03-01 2024-02-28 13907718 frs-bus:Director6 2023-03-01 2024-02-28 13907718 frs-bus:Director7 2023-03-01 2024-02-28 13907718 frs-countries:EnglandWales 2023-03-01 2024-02-28 13907718 2022-02-09 13907718 2023-02-28 13907718 2022-02-10 2023-02-28 13907718 frs-core:CurrentFinancialInstruments 2023-02-28 13907718 frs-core:SharePremium 2023-02-28 13907718 frs-core:ShareCapital 2023-02-28 13907718 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13907718
Pacfort Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13907718
28 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,235,546 2,483,940
Investments 5 3,454,261 3,388,165
5,689,807 5,872,105
CURRENT ASSETS
Debtors 6 4,787,371 1,738,758
4,787,371 1,738,758
Creditors: Amounts Falling Due Within One Year 7 (4,806,825 ) (1,708,287 )
NET CURRENT ASSETS (LIABILITIES) (19,454 ) 30,471
TOTAL ASSETS LESS CURRENT LIABILITIES 5,670,353 5,902,576
NET ASSETS 5,670,353 5,902,576
CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Share premium account 5,802,576 5,802,576
Profit and Loss Account (232,223 ) -
SHAREHOLDERS' FUNDS 5,670,353 5,902,576
Page 1
Page 2
For the year ending 28 February 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 Raul Cesan
Director
20/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Pacfort Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13907718 . The registered office is 719 Eddington Way, Birchwood, Warrington, Cheshire, WA3 6BA.
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. Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intellectual property - straight line over 10 years 
2.3. Financial Instruments
The group 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 when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of  interest.
2.4. 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.
2.5. 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
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Page 4
2.5. 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.
2.6. Investments policy
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
Interests in subsidiaries are assessed for impairment at each reporting date. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 March 2023 2,483,940
As at 28 February 2024 2,483,940
Amortisation
As at 1 March 2023 -
Provided during the period 248,394
As at 28 February 2024 248,394
Net Book Value
As at 28 February 2024 2,235,546
As at 1 March 2023 2,483,940
5. Investments
Subsidiaries
£
Cost
As at 1 March 2023 3,388,165
Additions 66,096
As at 28 February 2024 3,454,261
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 3,454,261
As at 1 March 2023 3,388,165
The investments consist of 100% of the issued share capital of Pacfort GmbH (incorporated in Germany) and Pacfort Ambalaj Anonim Sirketi (incorporated in Turkey). 
Page 4
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6. Debtors
28 February 2024 28 February 2023
£ £
Due within one year
Trade debtors 189,067 -
Other debtors 237,000 248,394
VAT 723 -
Amounts owed by subsidiaries 4,360,581 1,490,364
4,787,371 1,738,758
7. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
£ £
Trade creditors 224,675 -
Other creditors 1,314,024 1,377,197
Amounts owed to related parties 3,268,126 331,090
4,806,825 1,708,287
8. Share Capital
28 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 100,000 100,000
9. Related Party Transactions
The company has made a loan to a subsidiary. The amount due at 28 February 2024 was £4,360,581 (2023: £1,490,364). The loan is interest-free and repayable upon demand.
The company has received a loan from a shareholder who has significant influence. The amount payable at 28 February 2024 was £3,268,126 (2023: £331,090). The loan is interest-free and repayable upon demand.
The company has received a loan from a second shareholder who has significant influence. The amount payable at 28 February 2024 was £1,314,024 (2023: £1,377,197). The loan is interest-free and repayable upon demand.
The company has made a loan to a third shareholder. The amount receivable at 28 February 2024 was £237,000 (2023: £248,394). The loan is interest-free and repayable upon demand.
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