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Registered number: 09262594
Trics Consortium Limited
Financial Statements
For The Year Ended 31 December 2024
Probusiness Ltd
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr Philip Channer
Mr Michael Green
Mr Matthew Hogben
Mrs Gemma McCart
Mr Steven Shaw
Mrs Claire Warwick
Mr Ian Coles
Company Number 09262594
Registered Office Transport Development Planning
35 Guildford Road
Woking
Surrey
GU22 7QQ
Accountants Probusiness Ltd
St Lawrence Lodge
37 Chamberlain Street
Wells
Somerset
BA5 2PQ
Page 1
Page 2
Balance Sheet
Registered number: 09262594
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 536,162 413,138
Tangible Assets 5 9,577 8,795
545,739 421,933
CURRENT ASSETS
Debtors 6 139,135 104,369
Cash at bank and in hand 1,064,408 759,741
1,203,543 864,110
Creditors: Amounts Falling Due Within One Year 7 (441,755 ) (478,285 )
NET CURRENT ASSETS (LIABILITIES) 761,788 385,825
TOTAL ASSETS LESS CURRENT LIABILITIES 1,307,527 807,758
NET ASSETS 1,307,527 807,758
CAPITAL AND RESERVES
Called up share capital 225,000 225,000
Share premium account 364,500 364,500
Profit and Loss Account 718,027 218,258
SHAREHOLDERS' FUNDS 1,307,527 807,758
Page 2
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For the year ending 31 December 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 Philip Channer
Director
20 February 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Trics Consortium Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09262594 . The registered office is Transport Development Planning, 35 Guildford Road, Woking, Surrey, GU22 7QQ.
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
At the balance sheet date, the company had net current assets of £1,204k and net assets of £1,307k.
The directors have considered the level of funds held and the expected level of income and expenditure for the 12 months following the approval of these financial statements. The directors believe that the budgeted income and expenditure and the level of reserves held, are sufficient for the company to be able to continue as a going concern and to be able to meet its liabilities as they fall due in the 12 months following the date of approval of these financial statements.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible Assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided to write off the cost less estimated residual value of each asset over the following useful lives.
Intellectual Property Rights (Surveys) - 7 Years
TRICS uses the past 8 year's worth of data to create trip rate calculations, so as the sites take between 6 months and a year to be active on the system it makes them approximately a year old at the time of inclusion.
Intellectual Property Rights (System) - 5 Years
TRICS looks at carrying out an update every 7 or 8 years, so as the system gets towards this age it has come to the end of its life.
During the year, the directors reviewed the method of calculating intangible asset additions. Subsequent to this review, a simplified method was adopted. The directors are of the opinion this represents a change in estimation technique in accordance with FRS102 and not a change in accounting policy.
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:
Leasehold Straight Line over the Lease Period
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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2.6. 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.
2.7. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 January 2024 2,105,725
Additions 372,367
As at 31 December 2024 2,478,092
...CONTINUED
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Amortisation
As at 1 January 2024 1,692,587
Provided during the period 249,343
As at 31 December 2024 1,941,930
Net Book Value
As at 31 December 2024 536,162
As at 1 January 2024 413,138
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 8,770 4,564 22,699 36,033
Additions - - 5,729 5,729
As at 31 December 2024 8,770 4,564 28,428 41,762
Depreciation
As at 1 January 2024 7,016 3,141 17,081 27,238
Provided during the period 1,754 356 2,837 4,947
As at 31 December 2024 8,770 3,497 19,918 32,185
Net Book Value
As at 31 December 2024 - 1,067 8,510 9,577
As at 1 January 2024 1,754 1,423 5,618 8,795
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 128,557 93,712
Other debtors 10,578 10,657
139,135 104,369
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 52,703 33,453
Other creditors 145,342 264,747
Taxation and social security 243,710 180,085
441,755 478,285
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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 - 20,500
- 20,500
9. Post Balance Sheet Events
After the balance sheet date, and following the preparation of the financial statements, a dividend totalling £378,434 was declared and paid.
10. Related Party Transactions
Turnover for the year includes the following amounts in connection with councils that are shareholders of the company.
Dorset CouncilTRICS Licence - Income to TRICS£4,055 (2023: £3,600)

Dorset Council

TRICS Licence - Income to TRICS

£4,055 (2023: £3,600)

East Sussex County CouncilTRICS Licence - Income to TRICS£4,055 (2023: £3,990)

East Sussex County Council

TRICS Licence - Income to TRICS

£4,055 (2023: £3,990)

West Sussex County CouncilTRICS Licence - Income to TRICS£3,835 (2023: £3,600)

West Sussex County Council

TRICS Licence - Income to TRICS

£3,835 (2023: £3,600)

Hampshire County CouncilTRICS Licence - Income to TRICS£16,869 (2023: £3,775)

Hampshire County Council

TRICS Licence - Income to TRICS

£16,869 (2023: £3,775)

Kent County CouncilTRICS Licence - Income to TRICS£3,835 (2023: £3,600)

Kent County Council

TRICS Licence - Income to TRICS

£3,835 (2023: £3,600)

Surrey County CouncilTRICS Licence - Income to TRICS£3,835 (2023: £3,600)

Surrey County Council

TRICS Licence - Income to TRICS

£3,835 (2023: £3,600)

11. Controlling Party
By virtue of the shareholdings there is no controlling party.
12. Audit Information
The auditor's report on the accounts of Trics Consortium Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Statutory Auditor.
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