Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 11 March 2022 false 1 April 2023 31 December 2023 31 December 2023 13971904 Mr Eduardo Del Riego Mr Juan Dieppa Mr Jorge Gracia iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13971904 2023-03-31 13971904 2023-12-31 13971904 2023-04-01 2023-12-31 13971904 frs-core:CurrentFinancialInstruments 2023-12-31 13971904 frs-core:ComputerEquipment 2023-12-31 13971904 frs-core:ComputerEquipment 2023-04-01 2023-12-31 13971904 frs-core:ComputerEquipment 2023-03-31 13971904 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2023-12-31 13971904 frs-core:OtherResidualIntangibleAssets 2023-12-31 13971904 frs-core:OtherResidualIntangibleAssets 2023-04-01 2023-12-31 13971904 frs-core:OtherResidualIntangibleAssets 2023-03-31 13971904 frs-core:OtherReservesSubtotal 2023-12-31 13971904 frs-core:ShareCapital 2023-12-31 13971904 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13971904 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 13971904 frs-bus:FilletedAccounts 2023-04-01 2023-12-31 13971904 frs-bus:SmallEntities 2023-04-01 2023-12-31 13971904 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2023-12-31 13971904 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 13971904 frs-bus:Director1 2023-04-01 2023-12-31 13971904 frs-bus:Director2 2023-04-01 2023-12-31 13971904 frs-bus:Director3 2023-04-01 2023-12-31 13971904 frs-core:CurrentFinancialInstruments 2 2023-12-31 13971904 frs-countries:EnglandWales 2023-04-01 2023-12-31 13971904 2022-03-10 13971904 2023-03-31 13971904 2022-03-11 2023-03-31 13971904 frs-core:CurrentFinancialInstruments 2023-03-31 13971904 frs-core:OtherReservesSubtotal 2023-03-31 13971904 frs-core:ShareCapital 2023-03-31 13971904 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 13971904 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 13971904
PayCargo UK Limited
Financial Statements
For the Period 1 April 2023 to 31 December 2023
Resolve Corporate Ltd
11 Garden Court
Tewin Road
Welwyn Garden City
Hertfordshire
AL7 1BH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13971904
31 December 2023 31 March 2023
Notes $ $ $ $
FIXED ASSETS
Intangible Assets 4 488,198 -
Tangible Assets 5 6,270 11,127
494,468 11,127
CURRENT ASSETS
Debtors 6 22,349 14,267
Cash at bank and in hand 95,573 5,725
117,922 19,992
Creditors: Amounts Falling Due Within One Year 7 (1,772,669 ) (1,372,098 )
NET CURRENT ASSETS (LIABILITIES) (1,654,747 ) (1,352,106 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,160,279 ) (1,340,979 )
NET LIABILITIES (1,160,279 ) (1,340,979 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Other reserves (80,785 ) (31,571 )
Profit and Loss Account (1,079,495 ) (1,309,409 )
SHAREHOLDERS' FUNDS (1,160,279) (1,340,979)
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For the period ending 31 December 2023 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 Juan Dieppa
Director
16th January 2025
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
PayCargo UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13971904 . The registered office is 3 Waterhouse Square 138-142 Holborn, London, EC1N 2SW.
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 are made up of Software Development costs. There is no amortisation policy currently in place as the asset is still in the development stage.
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 20% Straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into dollars at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 4)
2 4
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4. Intangible Assets
Other
$
Cost
As at 1 April 2023 -
Additions 488,198
As at 31 December 2023 488,198
Net Book Value
As at 31 December 2023 488,198
As at 1 April 2023 -
5. Tangible Assets
Computer Equipment
$
Cost
As at 1 April 2023 13,091
Disposals (3,109 )
As at 31 December 2023 9,982
Depreciation
As at 1 April 2023 1,964
Provided during the period 1,748
As at 31 December 2023 3,712
Net Book Value
As at 31 December 2023 6,270
As at 1 April 2023 11,127
6. Debtors
31 December 2023 31 March 2023
$ $
Due within one year
Trade debtors 22,196 -
Security deposits 153 14,267
22,349 14,267
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7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 March 2023
$ $
Trade creditors 8,814 -
Accruals and deferred income 8,480 4,668
Loan - PayCargo LLC 1,754,937 1,367,017
Loan - PayCargo Europe 438 413
1,772,669 1,372,098
8. Share Capital
31 December 2023 31 March 2023
$ $
Allotted, Called up and fully paid 1 1
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