Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 11843174 Mr Ian Tyler iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11843174 2023-01-31 11843174 2024-01-31 11843174 2023-02-01 2024-01-31 11843174 frs-core:CurrentFinancialInstruments 2024-01-31 11843174 frs-core:ComputerEquipment 2024-01-31 11843174 frs-core:ComputerEquipment 2023-02-01 2024-01-31 11843174 frs-core:ComputerEquipment 2023-01-31 11843174 frs-core:FurnitureFittings 2024-01-31 11843174 frs-core:FurnitureFittings 2023-02-01 2024-01-31 11843174 frs-core:FurnitureFittings 2023-01-31 11843174 frs-core:SharePremium 2024-01-31 11843174 frs-core:ShareCapital 2024-01-31 11843174 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11843174 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11843174 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 11843174 frs-bus:SmallEntities 2023-02-01 2024-01-31 11843174 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11843174 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11843174 frs-bus:Director1 2023-02-01 2024-01-31 11843174 frs-countries:EnglandWales 2023-02-01 2024-01-31 11843174 2022-01-31 11843174 2023-01-31 11843174 2022-02-01 2023-01-31 11843174 frs-core:CurrentFinancialInstruments 2023-01-31 11843174 frs-core:SharePremium 2023-01-31 11843174 frs-core:ShareCapital 2023-01-31 11843174 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 11843174
DACXI LIMITED
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11843174
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,882 6,150
1,882 6,150
CURRENT ASSETS
Stocks 5 57,430 91,181
Debtors 6 248,230 471,345
Cash at bank and in hand 230,451 224,977
536,111 787,503
Creditors: Amounts Falling Due Within One Year 7 (1,196,160 ) (1,248,215 )
NET CURRENT ASSETS (LIABILITIES) (660,049 ) (460,712 )
TOTAL ASSETS LESS CURRENT LIABILITIES (658,167 ) (454,562 )
NET LIABILITIES (658,167 ) (454,562 )
CAPITAL AND RESERVES
Called up share capital 8 1,036,667 1,036,667
Share premium account 63,333 63,333
Profit and Loss Account (1,758,167 ) (1,554,562 )
SHAREHOLDERS' FUNDS (658,167) (454,562)
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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 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 Ian Tyler
Director
31st January 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
DACXI LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11843174 . The registered office is The Business Centre 1 Burrough Court, Burrough On The Hill, Melton Mowbray, Leicestershire, LE14 2QS.
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Significant judgements and estimations
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
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:
Fixtures & Fittings 25% straight line
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.  Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.


Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.  Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.  Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.  Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.7. 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.
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2.8. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.  An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been
recognised for the asset (or cash-generating unit) in prior years.  

A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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2.11. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.12. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 11)
9 11
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 723 16,427 17,150
As at 31 January 2024 723 16,427 17,150
Depreciation
As at 1 February 2023 492 10,508 11,000
Provided during the period 142 4,126 4,268
As at 31 January 2024 634 14,634 15,268
Net Book Value
As at 31 January 2024 89 1,793 1,882
As at 1 February 2023 231 5,919 6,150
5. Stocks
2024 2023
£ £
Stock 57,430 91,181
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 248,230 471,345
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,036 3,538
Other taxes and social security 257 -
Other creditors 1,167,937 333,028
Accruals and deferred income 24,930 10,766
Amounts owed to group undertakings - 900,883
1,196,160 1,248,215
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,036,667 1,036,667
9. Related Party Transactions
Included in other debtors is £26,672 (2023: £256,737) owed by a UK company with directors in common.

Included in other debtors is £212,266 (2023: £205,198) owed to an Estonia based company under common control.

Included in other debtors is £9,291 (2023: £nil) owed to an Australian based company under common control.
Included in other creditors is £21.733 (2023: £50,931) owed to an Australian based company under common control.
Included in other creditors is £17,974 (2023: £100,793) owed to a Lithuania based company under common control.
Included in other creditors is £4,767 (2023: £nil) owed to an Australian based company under common control.
Included in amounts owed to group undertakings is £719,280 (2023: £900,883) owed to a Singapore based company under common control.
All of the above are unsecured and interest free, and are repayable on demand.
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