Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11996004 Mr Sergiu Matei iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11996004 2023-05-31 11996004 2024-05-31 11996004 2023-06-01 2024-05-31 11996004 frs-core:CurrentFinancialInstruments 2024-05-31 11996004 frs-core:Non-currentFinancialInstruments 2024-05-31 11996004 frs-core:ComputerEquipment 2024-05-31 11996004 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11996004 frs-core:ComputerEquipment 2023-05-31 11996004 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 11996004 frs-core:OtherResidualIntangibleAssets 2024-05-31 11996004 frs-core:OtherResidualIntangibleAssets 2023-06-01 2024-05-31 11996004 frs-core:OtherResidualIntangibleAssets 2023-05-31 11996004 frs-core:ShareCapital 2024-05-31 11996004 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11996004 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11996004 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11996004 frs-bus:SmallEntities 2023-06-01 2024-05-31 11996004 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11996004 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11996004 frs-bus:Director1 2023-06-01 2024-05-31 11996004 frs-countries:EnglandWales 2023-06-01 2024-05-31 11996004 2022-05-31 11996004 2023-05-31 11996004 2022-06-01 2023-05-31 11996004 frs-core:CurrentFinancialInstruments 2023-05-31 11996004 frs-core:Non-currentFinancialInstruments 2023-05-31 11996004 frs-core:ShareCapital 2023-05-31 11996004 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11996004
Index Soft Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11996004
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 187,023 -
Tangible Assets 5 799 1,597
187,822 1,597
CURRENT ASSETS
Debtors 6 442,214 333,792
Cash at bank and in hand 960,649 838,839
1,402,863 1,172,631
Creditors: Amounts Falling Due Within One Year 7 (1,096,593 ) (754,629 )
NET CURRENT ASSETS (LIABILITIES) 306,270 418,002
TOTAL ASSETS LESS CURRENT LIABILITIES 494,092 419,599
NET ASSETS 494,092 419,599
CAPITAL AND RESERVES
Called up share capital 8 118 118
Profit and Loss Account 493,974 419,481
SHAREHOLDERS' FUNDS 494,092 419,599
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For the year ending 31 May 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 Sergiu Matei
Director
27 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Index Soft Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11996004 . The registered office is 124 City Road, London, EC1V 2NX.
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 represent the entity's web platform. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 4 years straight line
2.5. 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.
2.6. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: NIL)
2 -
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 -
Additions 196,866
As at 31 May 2024 196,866
Amortisation
As at 1 June 2023 -
Provided during the period 9,843
As at 31 May 2024 9,843
Net Book Value
As at 31 May 2024 187,023
As at 1 June 2023 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 3,193
As at 31 May 2024 3,193
Depreciation
As at 1 June 2023 1,596
Provided during the period 798
As at 31 May 2024 2,394
Net Book Value
As at 31 May 2024 799
As at 1 June 2023 1,597
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 294,931 245,529
Prepayments and accrued income 62,178 -
Other debtors 1,792 100
358,901 245,629
...CONTINUED
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Due after more than one year
Trade debtors - 5,363
Amounts owed by related parties 83,313 82,800
83,313 88,163
442,214 333,792
The repoting entity has provided a loan to Indexsoft Scaling Solutions LLC, a company under common control. The loan is payable for a period of three years and it is interest bearing with an interest rate of 2.312% (LIBOR) +2% per annum.

At the reporting date, the entity has provided an allowance for doubtful debts of £50,854. This amount is included in the total Trade Debtors balance of £294,931 as at 31 May 2024. The Trade Debtors balance before the allowance is £345,785.
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,020,642 673,515
Corporation tax - 55,162
Other taxes and social security 1,870 -
VAT 4,692 10,855
Other creditors 31,890 -
Accruals and deferred income 37,404 15,097
Director's loan account 95 -
1,096,593 754,629
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 118 118
9. Additional notes
Risk management for Index Soft Limited (https://www.index.dev/) involves identifying, assessing, and mitigating potential risks that could affect the company's operations, reputation, financial stability, and overall success. Index.dev specializes in providing remote tech talent to clients across worldwide countries, and as such, they face a unique set of risks related to the global nature of their business.

Here are some key aspects of risk management for Index.dev:
Legal and Compliance Risks: Operating across international borders means dealing with various legal and regulatory frameworks. Risks may arise from differences in labor laws, tax regulations, intellectual property rights, data privacy laws, and contract enforceability. Index.dev ensures that it complies with all applicable laws in both the home country and the countries where it provides talent. It complies with HMRC's regulations regarding taxation and VAT, charging VAT its UK customers, claiming VAT on purchases from UK suppliers, applying the reverse charge rules on purchases from EU suppliers, not charging VAT on customers outside the UK & EU and not claiming VAT on supplies from outside the UK and the EU.
Currency and Financial Risks: Fluctuations in currency exchange rates can impact the company's revenue and profitability, especially when contracts are denominated in EUR, USD, and other currencies. Index.dev is applying hedging strategies and financial planning in order to mitigate these risks.
Client Relationship Risks: Index.dev's reputation and client relationships are vital for sustaining business. If the talent provided does not meet client expectations or if there are communication issues, it could lead to dissatisfied clients, contract disputes, or even legal actions. Index.dev has insured such risk in order to avoid unexpected client litigation cases.
Talent Acquisition and Retention Risks: Finding and retaining skilled tech professionals is crucial for the Index.devs success. Competition for top talent can be fierce, and if the company cannot attract and keep skilled tech specialists, it may lead to client project delays and loss of clients. Index.dev has covered such risk by assigning of account developer manager to take care of the well-being of the developers.
Security and Data Protection Risks: Handling sensitive client data and proprietary information requires robust security measures. Breaches of data security can lead to legal consequences, reputational damage, and loss of trust from clients. Index.dev comply with GDPR rules in order to protect the business and the client's data we operate with.
...CONTINUED
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Geopolitical and Economic Risks: Index.dev is affected by geopolitical tensions, economic instability, and changes in trade policies between countries, as our developers and clients are located worldwide. These factors can influence client demand and overall business operations.
Insurance and Contractual Risks: Index.dev have appropriate insurance coverage to protect against potential liabilities and risks. Additionally, carefully drafted contracts with clients and talent can help allocate responsibilities and mitigate legal risks.
Technology and Infrastructure Risks: The reliance on technology and communication tools is significant in Index.dev in terms of remote business. Technical failures, cybersecurity threats, or disruptions in internet connectivity could impact productivity and service delivery.
To manage these risks effectively, an Index.dev is implementing a comprehensive risk management strategy, which includes:
- Conducting thorough risk assessments and identifying potential risks at various levels of the organization.
- Developing and implementing policies and procedures to address identified risks.
- Regularly monitor and update risk management processes as the business environment changes.
- Investing in staff training to promote awareness of risk factors and best practices.
- Collaborating with legal and financial experts to navigate complex international regulations.
- Maintaining strong communication and relationships with clients and talent to address concerns proactively.
By adopting a proactive approach to risk management, Index.dev enhances its resilience, protects its reputation, and fosters sustainable growth in the global market.


Foreign currency gains

The entity at the reporting date has foreign currency exchange rate losses of £70,670 of which £16,513 is realised gain and £87,183 is unrealised loss.


Cash at bank and in hand
At the reporting date, the company's multi-currency balances are:
- GBP: £76,441
- EUR: €668,314
- USD: $215,894
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