Acorah Software Products - Accounts Production 16.0.110 false true true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 10257486 Mr Charles Richardson Mr Thomas Richardson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10257486 2024-01-31 10257486 2025-01-31 10257486 2024-02-01 2025-01-31 10257486 frs-core:Non-currentFinancialInstruments 2025-01-31 10257486 frs-core:ComputerEquipment 2024-02-01 2025-01-31 10257486 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-01 2025-01-31 10257486 frs-core:SharePremium 2025-01-31 10257486 frs-core:ShareCapital 2025-01-31 10257486 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 10257486 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 10257486 frs-bus:AbridgedAccounts 2024-02-01 2025-01-31 10257486 frs-bus:SmallEntities 2024-02-01 2025-01-31 10257486 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 10257486 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 10257486 frs-bus:OrdinaryShareClass1 2024-02-01 2025-01-31 10257486 frs-bus:OrdinaryShareClass1 2025-01-31 10257486 frs-bus:Director1 2024-02-01 2025-01-31 10257486 frs-bus:Director2 2024-02-01 2025-01-31 10257486 1 2024-02-01 2025-01-31 10257486 frs-countries:EnglandWales 2024-02-01 2025-01-31 10257486 2023-01-31 10257486 2024-01-31 10257486 2023-02-01 2024-01-31 10257486 frs-core:Non-currentFinancialInstruments 2024-01-31 10257486 frs-core:SharePremium 2024-01-31 10257486 frs-core:ShareCapital 2024-01-31 10257486 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 10257486 frs-bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10257486 1 2023-02-01 2024-01-31
Registered number: 10257486
Lumio Technologies Ltd.
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 January 2025
Xeinadin South Wales & West Limited
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10257486
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 698,025 744,550
Tangible Assets 5 - 38
698,025 744,588
CURRENT ASSETS
Debtors 148,782 157,456
Cash at bank and in hand 34,514 14,053
183,296 171,509
Creditors: Amounts Falling Due Within One Year (375,388 ) (384,000 )
NET CURRENT ASSETS (LIABILITIES) (192,092 ) (212,491 )
TOTAL ASSETS LESS CURRENT LIABILITIES 505,933 532,097
Creditors: Amounts Falling Due After More Than One Year (28,546 ) (31,000 )
NET ASSETS 477,387 501,097
CAPITAL AND RESERVES
Called up share capital 6 18,754 18,128
Share premium account 2,207,852 1,923,131
Profit and Loss Account (1,749,219 ) (1,440,162 )
SHAREHOLDERS' FUNDS 477,387 501,097
Page 1
Page 2
For the year ending 31 January 2025 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 January 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Charles Richardson
Director
Mr Thomas Richardson
Director
04/03/2025
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
Lumio Technologies Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10257486 . The registered office is Edinburgh House, 1-5 Bellevue Road, Clevedon, BS21 7NP.
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 directors have not identified any material uncertainties, outside of the inherent risks associated with cutting-edge technology startups, related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company continues to enjoy the full support of its directors and staff.
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 - Other Intangible
Other intangible assets are the accumulated development costs incurred to date in working towards bringing the company's primary products to market. The product remains in development, but towards the end of last year sales revenue began being generated from this asset, so the company has begun amortising it over an estimate useful life of 5 years on a straight line basis.
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:
Computer Equipment 33% on Cost
2.6. 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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2.7. 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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2025 2024
Office and administration 3 3
Engineering and development 2 4
5 7
4. Intangible Assets
Total
£
Cost
As at 1 February 2024 923,277
Additions 154,674
As at 31 January 2025 1,077,951
Amortisation
As at 1 February 2024 178,727
Provided during the period 201,199
As at 31 January 2025 379,926
...CONTINUED
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Page 5
Net Book Value
As at 31 January 2025 698,025
As at 1 February 2024 744,550
5. Tangible Assets
Total
£
Cost
As at 1 February 2024 170
As at 31 January 2025 170
Depreciation
As at 1 February 2024 132
Provided during the period 38
As at 31 January 2025 170
Net Book Value
As at 31 January 2025 -
As at 1 February 2024 38
6. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1,812,751 Ordinary Shares of £ 0.010 each 18,754 18,128
Shares issued during the period: £
62,682 Ordinary Shares of £ 0.010 each 626
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