Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 14039622 Mr J Sun iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14039622 2023-04-30 14039622 2024-04-30 14039622 2023-05-01 2024-04-30 14039622 frs-core:CurrentFinancialInstruments 2024-04-30 14039622 frs-core:ComputerEquipment 2024-04-30 14039622 frs-core:ComputerEquipment 2023-05-01 2024-04-30 14039622 frs-core:ComputerEquipment 2023-04-30 14039622 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 14039622 frs-core:OtherReservesSubtotal 2024-04-30 14039622 frs-core:ShareCapital 2024-04-30 14039622 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 14039622 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14039622 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 14039622 frs-bus:SmallEntities 2023-05-01 2024-04-30 14039622 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 14039622 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 14039622 frs-bus:Director1 2023-05-01 2024-04-30 14039622 frs-countries:EnglandWales 2023-05-01 2024-04-30 14039622 2022-04-30 14039622 2023-04-30 14039622 2022-05-01 2023-04-30 14039622 frs-core:CurrentFinancialInstruments 2023-04-30 14039622 frs-core:OtherReservesSubtotal 2023-04-30 14039622 frs-core:ShareCapital 2023-04-30 14039622 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 14039622
Flock.Io Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Mr J Sun
Company Number 14039622
Registered Office 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Page 1
Page 2
Balance Sheet
Registered number: 14039622
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 1,415,777 659,172
Tangible Assets 4 36,441 23,923
1,452,218 683,095
CURRENT ASSETS
Debtors 5 9,116 72,453
Cash at bank and in hand 2,251,729 101,854
2,260,845 174,307
Creditors: Amounts Falling Due Within One Year 6 (77,051 ) (89,815 )
NET CURRENT ASSETS (LIABILITIES) 2,183,794 84,492
TOTAL ASSETS LESS CURRENT LIABILITIES 3,636,012 767,587
NET ASSETS 3,636,012 767,587
CAPITAL AND RESERVES
Called up share capital 7 100 100
SAFT and SAFE Investments 5,565,691 1,227,789
Profit and Loss Account (1,929,779 ) (460,302 )
SHAREHOLDERS' FUNDS 3,636,012 767,587
Page 2
Page 3
For the year ending 30 April 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
Mr J Sun
Director
17/01/2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Flock.Io Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14039622 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise primarily of cryptocurrency and other digital assets. Intangible assets are recognised. 
2.4. 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 25% Straight Line
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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
Page 4
Page 5
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 28,149
Additions 23,515
As at 30 April 2024 51,664
Depreciation
As at 1 May 2023 4,226
Provided during the period 10,997
As at 30 April 2024 15,223
Net Book Value
As at 30 April 2024 36,441
As at 1 May 2023 23,923
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 9,116 72,453
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 55,796 54,009
Other creditors 21,223 31,396
Taxation and social security 32 4,410
77,051 89,815
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
At the year end the company owed £18,345 to J Sun, the director of the company, in respect of an interest free loan which is repayable on demand
Page 5