Acorah Software Products - Accounts Production 16.0.110 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10831970 Mr Haydn Brooks Mr Daniel Saul Mr Heikki Koponen Mr Alain-Gabriel Courtines Mr Adam Lovell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10831970 2023-06-30 10831970 2024-06-30 10831970 2023-07-01 2024-06-30 10831970 frs-core:CurrentFinancialInstruments 2024-06-30 10831970 frs-core:ComputerEquipment 2024-06-30 10831970 frs-core:ComputerEquipment 2023-07-01 2024-06-30 10831970 frs-core:ComputerEquipment 2023-06-30 10831970 frs-core:WithinOneYear 2024-06-30 10831970 frs-core:OtherReservesSubtotal 2024-06-30 10831970 frs-core:SharePremium 2024-06-30 10831970 frs-core:ShareCapital 2024-06-30 10831970 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10831970 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10831970 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10831970 frs-bus:SmallEntities 2023-07-01 2024-06-30 10831970 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10831970 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10831970 frs-bus:Director1 2023-07-01 2024-06-30 10831970 frs-bus:Director2 2023-07-01 2024-06-30 10831970 frs-bus:Director3 2023-07-01 2024-06-30 10831970 frs-bus:Director4 2023-07-01 2024-06-30 10831970 frs-bus:Director5 2023-07-01 2024-06-30 10831970 frs-countries:EnglandWales 2023-07-01 2024-06-30 10831970 2022-06-30 10831970 2023-06-30 10831970 2022-07-01 2023-06-30 10831970 frs-core:CurrentFinancialInstruments 2023-06-30 10831970 frs-core:WithinOneYear 2023-06-30 10831970 frs-core:OtherReservesSubtotal 2023-06-30 10831970 frs-core:SharePremium 2023-06-30 10831970 frs-core:ShareCapital 2023-06-30 10831970 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 10831970
Risk Ledger Ltd.
Unaudited Financial Statements
For The Year Ended 30 June 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10831970
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,816 39,551
38,816 39,551
CURRENT ASSETS
Debtors 5 1,446,472 624,325
Cash at bank and in hand 4,107,181 588,608
5,553,653 1,212,933
Creditors: Amounts Falling Due Within One Year 6 (2,785,428 ) (1,493,287 )
NET CURRENT ASSETS (LIABILITIES) 2,768,225 (280,354 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,807,041 (240,803 )
NET ASSETS/(LIABILITIES) 2,807,041 (240,803 )
CAPITAL AND RESERVES
Called up share capital 7 2,568 1,936
Share premium account 9,557,807 3,480,193
Other reserves 361,485 1,630,909
Profit and Loss Account (7,114,819 ) (5,353,841 )
SHAREHOLDERS' FUNDS 2,807,041 (240,803)
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For the year ending 30 June 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 7 January 2025 and were signed on its behalf by:
Mr Haydn Brooks
Director
7 January 2025
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
Risk Ledger Ltd. is a private company,  limited by shares, incorporated in England & Wales, registered number 10831970 . The registered office is Adam House, 7-10 Adam Street, London, WC2N 6AA.
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’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able 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.
2.3. 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.

Revenues related to subscriptions are recognised evenly over the period in which the platform is made available online, where the related content is similar in value over time. Subscription income received or receivable in advance of the subscription period is included in deferred income.

Revenue excludes discounts, rebates, value added tax and other sales taxes.
2.4. Research and Development
Expenditure on research and development is written off in the year it is incurred.
2.5. 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 Over 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. 
2.6. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.
Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease an an integral part of the total lease expenses.
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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.
Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assed 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 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 year 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.
2.11. Share Based Payments
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking in to account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.
3. Average Number of Employees
Average number of employees during the year was  39 (2023: 35)
39 35
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 83,187
Additions 28,476
Disposals (11,551 )
As at 30 June 2024 100,112
Depreciation
As at 1 July 2023 43,636
Provided during the period 26,404
Disposals (8,744 )
As at 30 June 2024 61,296
Net Book Value
As at 30 June 2024 38,816
As at 1 July 2023 39,551
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 320,400 415,702
Other debtors 1,126,072 208,623
1,446,472 624,325
Other debtors includes an amount of £604,691 (2023:£0) in respect of corporation tax recoverable in respect of research and development claims.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 246,803 168,852
Other creditors 2,248,841 1,170,512
Taxation and social security 289,784 153,923
2,785,428 1,493,287
Included within other creditors are outstanding pension contributions of £8,950 (2023: £8,459) and £2,175,383 (2023: £1,115,361) deferred income.
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,568 1,936
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8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 246,000 -
246,000 -
9. Share Based Payments
The company operates two equity based share option schemes (approved EMI and an unapproved scheme) to certain employees which provides additional remuneration for those employees who are key to the company. The options expire ten years after the date of the grant. Employees are not entitled to dividends until the shares are exercised. All options granted have performance conditions relating to the relevant employee remaining in the employment of the company at exercise.
A reconciliation of share option movements during the year ended 30 June 2024 is shown below:
Number of options - weighted average exercise price
Outstanding as at 1 July 2023: 12,814,591 - £14,235 
Granted during the year: 2,933,563 - £78,599 
Forfeited during the year: (921,722) - (£3,352)
Exercised during the year: (1,515,040) - (£2,545)
Outstanding as at 30 June 2024: 13,311,392 - £86,937
The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share option schemes similar to that of the company.
Equity settled schemes - charges arising: £63,596 (2023: £82,862).
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