Acorah Software Products - Accounts Production 16.0.110 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 06886190 M J Bysh C R Hulatt J F Mighell C P Mojay-Sinclare B Wardle N Singh J Moisan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06886190 2023-04-30 06886190 2024-04-30 06886190 2023-05-01 2024-04-30 06886190 frs-core:CurrentFinancialInstruments 2024-04-30 06886190 frs-core:ComputerEquipment 2023-05-01 2024-04-30 06886190 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 06886190 frs-core:OtherResidualIntangibleAssets 2024-04-30 06886190 frs-core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 06886190 frs-core:OtherResidualIntangibleAssets 2023-04-30 06886190 frs-core:PlantMachinery 2024-04-30 06886190 frs-core:PlantMachinery 2023-05-01 2024-04-30 06886190 frs-core:PlantMachinery 2023-04-30 06886190 frs-core:SharePremium 2024-04-30 06886190 frs-core:ShareCapital 2024-04-30 06886190 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 06886190 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06886190 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 06886190 frs-bus:SmallEntities 2023-05-01 2024-04-30 06886190 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 06886190 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06886190 frs-core:UnlistedNon-exchangeTraded 2024-04-30 06886190 frs-core:UnlistedNon-exchangeTraded 2023-04-30 06886190 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-04-30 06886190 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-04-30 06886190 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-04-30 06886190 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-04-30 06886190 frs-bus:Director1 2023-05-01 2024-04-30 06886190 frs-bus:Director2 2023-05-01 2024-04-30 06886190 frs-bus:Director3 2023-05-01 2024-04-30 06886190 frs-bus:Director4 2023-05-01 2024-04-30 06886190 frs-bus:Director5 2023-05-01 2024-04-30 06886190 frs-bus:Director6 2023-05-01 2024-04-30 06886190 frs-bus:Director7 2023-05-01 2024-04-30 06886190 frs-countries:EnglandWales 2023-05-01 2024-04-30 06886190 2022-04-30 06886190 2023-04-30 06886190 2022-05-01 2023-04-30 06886190 frs-core:CurrentFinancialInstruments 2023-04-30 06886190 frs-core:SharePremium 2023-04-30 06886190 frs-core:ShareCapital 2023-04-30 06886190 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 06886190
Online Giving Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 06886190
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,367,254 1,141,355
Tangible Assets 5 40,646 54,653
Investments 6 365,103 365,103
1,773,003 1,561,111
CURRENT ASSETS
Debtors 7 1,773,693 2,718,636
Cash at bank and in hand 937,852 169,125
2,711,545 2,887,761
Creditors: Amounts Falling Due Within One Year 8 (1,988,216 ) (1,264,972 )
NET CURRENT ASSETS (LIABILITIES) 723,329 1,622,789
TOTAL ASSETS LESS CURRENT LIABILITIES 2,496,332 3,183,900
NET ASSETS 2,496,332 3,183,900
CAPITAL AND RESERVES
Called up share capital 10 19 19
Share premium account 7,570,360 7,570,360
Profit and Loss Account (5,074,047 ) (4,386,479 )
SHAREHOLDERS' FUNDS 2,496,332 3,183,900
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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 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
C P Mojay-Sinclare
Director
31 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
Online Giving Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06886190 . The registered office is Office 6, 155 Minories, London, EC3N 1AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Preparation of Consolidated Financial Statements
The financial statements contain information about Online Giving Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
Irrespective of the net loss of £509,556 reported for the year, the company's financial position remains robust with net assets totalling £2,674,343 at the balance sheet date. This includes total cash and cash equivalents, in the form of accrued income held in trust accounts, at 30 April 2024 which have been settled in full in the subsequent month, amounting to £1,110,502 compared to £1,193,183 in the previous year.
Furthermore, the company has access to unsecured debt facilities which can be accessed to support the company’s activities and strategic initiatives as needed.
The directors are of the opinion that the company’s strong net asset position, coupled with its liquidity and access to financing, ensure the company operates as a going concern. This is supported by financial projections which are reviewed by the directors on a regular basis.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In preparing these financial statements the directors have made the following judgements:
- Determined whether there are indicators of impairment of the company's tangible assets, intangible assets and investments in subsidiaries. Factors taken into consideration in reaching such a decision include the financial viability and expected future financial performance of the asset.
- Assessed which costs qualify for capitalisation as software development intangible fixed asset additions.
- Determined that the accounting policies in place in respect of turnover recognition and measurement are reasonable.
- Determined that the trust accounts related to donations are held off balance sheet.
2.4. Turnover
Turnover is recognised the the extent that is it probable the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.
Turnover is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of the turnover can be reliably measured;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be reliably measured.
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2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Software development costs are recognised as an intangible asset when all of the following criteria are demonstrated:
- The technical feasibility of completing the software so that it will be available for use or sale.
- The intention to complete the software and use or sell it.
- The ability to use the software or to sell it.
- How the software will generate probable future economic benefits.
- The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.
- The ability to measure reliably the expenditure attributable to the software during its development.
Following initial recognition of the development expenditure as an asset the cost model is applied, requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Amortisation of the asset begins when development is complete and the asset is available for use. It is amortised evenly over the period of expected future benefit of 5 years. During the period of development the asset is tested for impairment annually.
Research expenditure is written off as incurred.
2.6. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment straight line over 3 years
2.7. 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 statement of financial position 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.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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, 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.
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.
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2.9. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.10. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.11. Investments in subsidiary
Investments in subsidiary undertakings are recognised at cost less impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 57 (2023: 70)
57 70
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 May 2023 1,644,774
Additions 621,892
As at 30 April 2024 2,266,666
Amortisation
As at 1 May 2023 503,419
Provided during the period 395,993
As at 30 April 2024 899,412
Net Book Value
As at 30 April 2024 1,367,254
As at 1 May 2023 1,141,355
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5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 May 2023 104,673
Additions 8,026
As at 30 April 2024 112,699
Depreciation
As at 1 May 2023 50,020
Provided during the period 22,033
As at 30 April 2024 72,053
Net Book Value
As at 30 April 2024 40,646
As at 1 May 2023 54,653
6. Investments
Unlisted
£
Cost
As at 1 May 2023 365,103
As at 30 April 2024 365,103
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 365,103
As at 1 May 2023 365,103
The company's investments in the share capital of other companies relates solely to the following:
Primo Events Ltd
Country of incorporation: Northern Ireland
Registered office: Office 2, 21 Botanic Avenue, Belfast, Northern Ireland, BT7 1JJ
Nature of business: Online events registration business
Ownership: 100% of the issued share capital
Results for the year ended 30 April 2024
Profit for the year: £255,288 (2023: £81,545)
Aggregate capital and reserves: £701,142 (2023: £445,854)
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7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 38,618 6,019
Other debtors 1,735,075 2,712,617
1,773,693 2,718,636
Other debtors include the following items:
Accrued income related to transaction fees, settled May 2024: £172,650 (2023: £1,024,058)
Prepayments: £965,002 (2023: £793,211)
R&D tax credit repayments: £83,850 (2023: £210,569)
Deferred tax asset: £496,527 (2023: £802,023)
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 346,219 183,423
Bank loans and overdrafts - 202,083
Amounts owed to group undertakings 758,232 188,705
Other creditors 751,955 559,445
Taxation and social security 131,810 131,316
1,988,216 1,264,972
9. Deferred Taxation
The deferred tax asset relates to timing differences associated with recoverable tax losses carried forwards of £848,502 (2023: £1,101,025) less timing differences in respect of accelerated capital allowances and R&D tax credit adjustments of £351,975 (2023: £299,092). These amounts are calculated at the prevailing higher rate of corporation tax of 25%.
The company has tax losses carried forward of £3,394,007 (2023: £4,404,100) available to offset against future trading profits.
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 19 19
11. Related Party Transactions
The company has taken advantage of the exemption in FRS 102 Scheldule 1A to not disclose transactions with wholly owned group entities.
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