Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11226271 Dr Daniel Brown Ms Helen W Hawkins true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11226271 2023-02-28 11226271 2024-02-29 11226271 2023-03-01 2024-02-29 11226271 frs-core:CurrentFinancialInstruments 2024-02-29 11226271 frs-core:ShareCapital 2024-02-29 11226271 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11226271 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11226271 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11226271 frs-bus:SmallEntities 2023-03-01 2024-02-29 11226271 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11226271 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11226271 1 2023-03-01 2024-02-29 11226271 frs-bus:Director1 2023-03-01 2024-02-29 11226271 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 11226271 frs-countries:EnglandWales 2023-03-01 2024-02-29 11226271 2022-02-28 11226271 2023-02-28 11226271 2022-03-01 2023-02-28 11226271 frs-core:CurrentFinancialInstruments 2023-02-28 11226271 frs-core:ShareCapital 2023-02-28 11226271 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11226271
Stochastico Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Square Mile Accounting Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 11226271
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 3,672,112 2,716,793
Debtors 5 2,337,412 1,724,885
Cash at bank and in hand 2,227,530 2,417,855
8,237,054 6,859,533
Creditors: Amounts Falling Due Within One Year 6 (8,022,452 ) (6,962,832 )
NET CURRENT ASSETS (LIABILITIES) 214,602 (103,299 )
TOTAL ASSETS LESS CURRENT LIABILITIES 214,602 (103,299 )
NET ASSETS/(LIABILITIES) 214,602 (103,299 )
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account 214,592 (103,309 )
SHAREHOLDERS' FUNDS 214,602 (103,299)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Dr Daniel Brown
Director
28th November 2024
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Stochastico Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11226271 . The registered office is 8a Lancaster Drive, London, NW3 4HA.
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 believe that the company is well-placed to manage its business risks successfully. Accordingly, they have
a reasonable expectation that the company has adequate resources to continue in operational existence for the
foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial
statements.
2.3. Turnover
Revenue is recognised to the extent that it is probable that the 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. The following criteria must also be met before revenue is recognised:  
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
  • the amount of revenue can be measured reliably;
  • it is probable that the company will receive the consideration due under the contract;
  • the stage of completion of the contract at the end of the reporting period can be measuredreliably; and
  • the costs incurred and the costs to complete the contract can be measured reliably
2.4. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less
costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
2.5. Financial Instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
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.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
...CONTINUED
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2.5. Financial Instruments - continued
Basic financial liabilities, including trade and other creditors and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. 
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets 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 in the profit and loss account.
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 the company would receive for the asset if it were to be sold at the reporting date.
For financial assets 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. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
2.6. Foreign Currencies
The company's functional and presentational currency is Sterling (£).
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. 
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. 
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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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 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.
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.
2.8. Interest Income
Interest Income is recognised in profit or loss using the effective interest method.
2.9. Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
2.10. Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2023: NIL)
- -
4. Stocks
2024 2023
£ £
Stock 3,672,112 2,716,793
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,642 4,805
Other debtors 2,332,770 1,705,695
Corporation tax recoverable assets - 7,609
VAT - 6,776
2,337,412 1,724,885
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,629 (1 )
Corporation tax 25,261 -
VAT 912 -
Other creditors 7,987,370 6,960,108
Accruals and deferred income 1,645 2,625
Director's loan account 3,635 100
8,022,452 6,962,832
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
8. Related Party Transactions
Other debtors of £2,327,600 (2023: £1,700,000) relates to amounts due from a company under common control. Other creditors £7,987,370 (2023: £6,960,109) relates to an amount to a company under common control. 
During the year, interest payable of £5,340 (2022: £8,417) was charged to the profit and loss account in relation to a loan provided by a company under common control.
9. Ultimate Controlling Party
In the opinion of the director the ultimate controlling party is Dr Daniel Brown. 
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