Acorah Software Products - Accounts Production 16.0.110 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10795418 Ms Alexandra Prigent iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10795418 2023-05-31 10795418 2024-05-31 10795418 2023-06-01 2024-05-31 10795418 frs-core:Non-currentFinancialInstruments 2024-05-31 10795418 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10795418 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10795418 frs-core:SharePremium 2024-05-31 10795418 frs-core:ShareCapital 2024-05-31 10795418 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10795418 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10795418 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 10795418 frs-bus:SmallEntities 2023-06-01 2024-05-31 10795418 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10795418 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10795418 frs-core:CostValuation 2023-05-31 10795418 frs-core:AdditionsToInvestments 2024-05-31 10795418 frs-core:CostValuation 2024-05-31 10795418 frs-bus:Director1 2023-06-01 2024-05-31 10795418 frs-bus:Director1 2023-05-31 10795418 frs-bus:Director1 2024-05-31 10795418 frs-countries:EnglandWales 2023-06-01 2024-05-31 10795418 2022-05-31 10795418 2023-05-31 10795418 2022-06-01 2023-05-31 10795418 frs-core:Non-currentFinancialInstruments 2023-05-31 10795418 frs-core:SharePremium 2023-05-31 10795418 frs-core:ShareCapital 2023-05-31 10795418 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10795418
Accellency Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10795418
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,403 8,930
Investments 5 308,711 83
321,114 9,013
CURRENT ASSETS
Debtors 6 198,263 331,471
Cash at bank and in hand 916,715 518,411
1,114,978 849,882
Creditors: Amounts Falling Due Within One Year (413,548 ) (231,205 )
NET CURRENT ASSETS (LIABILITIES) 701,430 618,677
TOTAL ASSETS LESS CURRENT LIABILITIES 1,022,544 627,690
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,101 ) (1,696 )
NET ASSETS 1,019,443 625,994
CAPITAL AND RESERVES
Called up share capital 7 1 1
Share premium account 3,894 -
Profit and Loss Account 1,015,548 625,993
SHAREHOLDERS' FUNDS 1,019,443 625,994
Page 1
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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 her 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
Signed and approved for issue on behalf of the board by :
Ms Alexandra Prigent
Director
26/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Accellency Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10795418 . The registered office is 3rd Floor, 11-13 Charlotte Street, London, W1T 1RH.
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
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these Financial Statements. Accordingly, the going concern basis has been adopted in preparing 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. 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 Reducing Balance 15%
Computer Equipment Reducing Balance 15%
2.5. Financial Instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2.6. Foreign Currencies
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
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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2.7. Taxation
Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity, is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profits for the year or prior years and is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current or prior periods.
Deferred tax arises from timing differences between taxable profits for the period and those shown in the financial statements. Deferred tax is recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing differences.
2.8. Pensions
The Company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The contributions are recognised as an expense in the profit or loss when they fall due.
2.9. Debtors & Creditors
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
2.10. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
2.11. Investments
Investments are recorded at cost less any accumulated impairment losses. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
4. Tangible Assets
Total
£
Cost
As at 1 June 2023 12,313
Additions 5,282
As at 31 May 2024 17,595
Depreciation
As at 1 June 2023 3,383
Provided during the period 1,809
As at 31 May 2024 5,192
...CONTINUED
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Net Book Value
As at 31 May 2024 12,403
As at 1 June 2023 8,930
5. Investments
Total
£
Cost
As at 1 June 2023 83
Additions 308,628
As at 31 May 2024 308,711
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 308,711
As at 1 June 2023 83
Investments in subsisdiaries are recorded at cost less any accumulated Impairment losses. 
Other Investments are funds invested in a managed portfolio of short-term money market deposits. These are shown at cost plus daily interest accumulated.  
6. Debtors
2024 2023
£ £
Due after more than one year
Other debtors 19,319 33,594
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Pension Commitments
The Company pays contributions into a defined contributions scheme for its employees and directors. The pension cost charge represents contributions payable by the Company into these schemes and amounted to £6,870 (2023: £5,754). Contributions of £1,808 (2023: £1,059) were payable at the reporting date and shown within other creditors.
9. Directors Advances, Credits and Guarantees
Included within Current Assets are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Ms Alexandra Prigent - 394 - - 394
The above loan is unsecured, interest free and repayable on demand, and expected to be repaid within the following year.
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