Acorah Software Products - Accounts Production 16.1.200 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 04360152 Mr Darren Heffernan MBSL Nominees Limited Favordale Limited Gorse Valley, Tipperkevin, Ballymore Eustace, Co. Kildare, Ireland true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04360152 2023-01-31 04360152 2024-01-31 04360152 2023-02-01 2024-01-31 04360152 frs-core:CurrentFinancialInstruments 2024-01-31 04360152 frs-core:Non-currentFinancialInstruments 2024-01-31 04360152 frs-core:ComputerEquipment 2023-02-01 2024-01-31 04360152 frs-core:OtherReservesSubtotal 2024-01-31 04360152 frs-core:ShareCapital 2024-01-31 04360152 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 04360152 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04360152 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 04360152 frs-bus:SmallEntities 2023-02-01 2024-01-31 04360152 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04360152 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04360152 1 2023-02-01 2024-01-31 04360152 frs-bus:Director1 2023-02-01 2024-01-31 04360152 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 04360152 frs-countries:EnglandWales 2023-02-01 2024-01-31 04360152 2022-01-31 04360152 2023-01-31 04360152 2022-02-01 2023-01-31 04360152 frs-core:CurrentFinancialInstruments 2023-01-31 04360152 frs-core:Non-currentFinancialInstruments 2023-01-31 04360152 frs-core:OtherReservesSubtotal 2023-01-31 04360152 frs-core:ShareCapital 2023-01-31 04360152 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 04360152
Adra Software Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 04360152
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 2,127 2,127
2,127 2,127
NET CURRENT ASSETS (LIABILITIES) 2,127 2,127
TOTAL ASSETS LESS CURRENT LIABILITIES 2,127 2,127
Creditors: Amounts Falling Due After More Than One Year 5 (236,086 ) (236,286 )
NET LIABILITIES (233,959 ) (234,159 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Other reserves 643,731 643,731
Income Statement (877,790 ) (877,990 )
SHAREHOLDERS' FUNDS (233,959) (234,159)
For the year ending 31 January 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 Income Statement.
On behalf of the board
Mr Darren Heffernan
Director
31/10/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Adra Software Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04360152 . The registered office is 7 Bishopsgate 2nd Floor, London, EC2N 3AR.
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 director believes that the going concern basis is not appropriate as the company ceased trading in the year ended 31 January 2022. The director intends to place the company into liquidation and therefore the financial statements are prepared on a break-up basis. 
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 33.33% straight line
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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.
2.4. Leasing and Hire Purchase Contracts
Operating leases: the company as lessee
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee’s benefit from the use of the least asset.

The company have taken advantage of the optional exemption available in transition to FRS 102 which allows lease incentives on the leases entered into before the date of transition to the standard 1 January 2015 to continue to be charged over the period to the first market rent review rather than the term of the lease.

2.5. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the case or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transactions, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subequently at amortised cost.

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 in the statement of comprehensive income.

For financial assets measure at amortised cost, the impairment loss is measure as the difference between an assets’ carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If an financial assets has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

...CONTINUED
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2.5. Financial Instruments - continued
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported int eh statement of financial position when there is an enforceable right o 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
Functional and presentation currency
The company’s functional and presentational currency is GBP.

Transactions and balances
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 monitory items are translated using the closing rate. Non-monetary items 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 the statement of comprehensive income except when deferred in other comprehensive income of qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within ‘finance income or costs’. All other foreign exchange gains and losses are presented in the statement of comprehensive income within ‘other operating income’.

2.7. Finance costs
Finance costs are charged to the statement of comprehensive income over the term of the debt using the effect of 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.
2.8. Borrowing costs
All borrowing costs are recognised in the statement of comprehensive income in the period in which they are incurred.
2.9. Debtors & Creditors
Debtors
Short term debtors are measures at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of tranasction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities including bank loans, are measured initailly at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest rate.

Amounts owed to group undertakings due great than one year constitute financing transactions
The company initially measures these financial liabilities at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. For loans from partent entities or fellow subsidiaries, as the actual rate of interest is lower than the deemed market rate, the deemed capital contribution of £643,731 is recognised as a capital contribution in the statement of changes in equity.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets 2,127 2,127
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Page 4
5. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 236,086 236,286
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Reserves
The company's capital and reserves are as follows:

Share capital

Called up share capital reserve represents the nominal value of the shares issued.
8. Related Party Transactions
The company is a wholly owned subsidiary of Adra Software AS and has taken advantage of the exemption conferred by section 33.1A of FRS102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
9. Ultimate Parent Undertaking and Controlling Party
The company is a subsidiary of Favordale Limited which is the ultimate parent company and controlling party incorporated in Ireland. The consolidated accounts of this company are available to the public and may be obtained from Gorse Valley, Tipperkevin, Ballymore Eustace, Co. Kildare, Ireland . No other group accounts include the results of the company.
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