Acorah Software Products - Accounts Production 16.1.300 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12540798 Ms K B Dowling Mr H Kim iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12540798 2023-03-31 12540798 2024-03-31 12540798 2023-04-01 2024-03-31 12540798 frs-core:CurrentFinancialInstruments 2024-03-31 12540798 frs-core:ComputerEquipment 2024-03-31 12540798 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12540798 frs-core:ComputerEquipment 2023-03-31 12540798 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 12540798 frs-core:OtherResidualIntangibleAssets 2024-03-31 12540798 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 12540798 frs-core:OtherResidualIntangibleAssets 2023-03-31 12540798 frs-core:PlantMachinery 2024-03-31 12540798 frs-core:PlantMachinery 2023-04-01 2024-03-31 12540798 frs-core:PlantMachinery 2023-03-31 12540798 frs-core:RevaluationReserve 2023-04-01 2024-03-31 12540798 frs-core:RevaluationReserve 2024-03-31 12540798 frs-core:SharePremium 2024-03-31 12540798 frs-core:ShareCapital 2024-03-31 12540798 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12540798 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12540798 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12540798 frs-bus:SmallEntities 2023-04-01 2024-03-31 12540798 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12540798 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12540798 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12540798 frs-bus:OrdinaryShareClass1 2024-03-31 12540798 frs-core:CostValuation 2023-03-31 12540798 frs-core:CostValuation 2024-03-31 12540798 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 12540798 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 12540798 frs-bus:Director1 2023-04-01 2024-03-31 12540798 frs-bus:Director2 2023-04-01 2024-03-31 12540798 frs-core:CurrentFinancialInstruments 1 2024-03-31 12540798 frs-core:CurrentFinancialInstruments 2 2024-03-31 12540798 frs-countries:EnglandWales 2023-04-01 2024-03-31 12540798 2022-03-31 12540798 2023-03-31 12540798 2022-04-01 2023-03-31 12540798 frs-core:CurrentFinancialInstruments 2023-03-31 12540798 frs-core:RevaluationReserve 2023-03-31 12540798 frs-core:SharePremium 2023-03-31 12540798 frs-core:ShareCapital 2023-03-31 12540798 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 12540798 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 12540798 frs-core:CurrentFinancialInstruments 1 2023-03-31 12540798 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 12540798
Attestant Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12540798
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 995,752 338,929
Tangible Assets 5 22,810 29,240
Investments 6 840 840
1,019,402 369,009
CURRENT ASSETS
Debtors 7 1,402,257 1,531,256
Cash at bank and in hand 1,761,795 702,742
3,164,052 2,233,998
Creditors: Amounts Falling Due Within One Year 8 (1,320,735 ) (1,025,936 )
NET CURRENT ASSETS (LIABILITIES) 1,843,317 1,208,062
TOTAL ASSETS LESS CURRENT LIABILITIES 2,862,719 1,577,071
NET ASSETS 2,862,719 1,577,071
CAPITAL AND RESERVES
Called up share capital 9 122,683 121,146
Share premium account 18,444 -
Revaluation reserve 10 204,817 -
Profit and Loss Account 2,516,775 1,455,925
SHAREHOLDERS' FUNDS 2,862,719 1,577,071
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For the year ending 31 March 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
Ms K B Dowling
Director
13/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Attestant Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12540798 . The registered office is 7 Albert Buildings, 49 Queen Victoria Street, London, EC4N 4SA.
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 related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.
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 length of the contract performed to date to the total contract length. 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 represent cryptoassets, held at revalued amounts. A revaluation was undertaken by the directors on 31 March 2024, using the market rate provided by a recognised cryptoasset exchange. Any upwards revaluations are shown in Other Comprehensive Income and held in the Revaluation Reserve, to the extent that they do not reverse prior period downwards revaluations recognised in Profit and Loss.
Any downwards revaluations are recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in the Revaluation Reserve. Any excess is recognised in Profit and Loss.
The directors estimate that the residual value of the cryptoassets is at least equal to the market value at the balance sheet date. This estimate is made on the basis that there is a general upwards trend in value of the assets, and that an active market exists for these assets. Therefore there is a Nil amortisation rate over the life of the asset.
This estimate will be reviewed in each period of account.
If the assets had been recognised in the accounts under the historical cost model, the carrying amount would be £706,560 (2023: £386,887)
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:
Plant & Machinery 3 year straight line
Computer Equipment 3 year straight line
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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees during the year was as follows: 11 (2023: 9)
11 9
4. Intangible Assets
Other
£
Cost or Valuation
As at 1 April 2023 338,929
Additions 2,164,536
Revaluations 466,200
Disposals (1,973,913 )
As at 31 March 2024 995,752
Net Book Value
As at 31 March 2024 995,752
As at 1 April 2023 338,929
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 125 41,772 41,897
Additions - 11,705 11,705
Disposals - (2,930 ) (2,930 )
As at 31 March 2024 125 50,547 50,672
...CONTINUED
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Depreciation
As at 1 April 2023 45 12,612 12,657
Provided during the period 42 16,902 16,944
Disposals - (1,739 ) (1,739 )
As at 31 March 2024 87 27,775 27,862
Net Book Value
As at 31 March 2024 38 22,772 22,810
As at 1 April 2023 80 29,160 29,240
6. Investments
Subsidiaries
£
Cost
As at 1 April 2023 840
As at 31 March 2024 840
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 840
As at 1 April 2023 840
The investment represents the Company's 100% interest in Attestant (BVI) Limited, which is a company incorporated in the British Virgin Islands on 18 November 2022, with company number 2111967
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 991,072 1,041,978
Prepayments and accrued income 60,697 51,786
VAT debtor 23,353 9,499
Other debtors 8,000 4,540
Deferred tax current asset 205,456 289,830
Amounts owed by subsidiaries 113,679 133,623
1,402,257 1,531,256
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,804 12,428
Corporation tax 328,354 109,304
Other taxes and social security 32,525 32,552
Other creditors - 104
Bonus accrual 906,510 857,975
Accruals and deferred income 25,418 4,000
Directors' loan accounts 21,124 9,573
1,320,735 1,025,936
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
12,268,300 Ordinary Shares of £ 0.01 each 122,683 121,146
Shares issued during the period: £
153,700 Ordinary Shares of £ 0.01 each 1,537
10. Reserves
Revaluation Reserve
£
Surplus on revaluation 204,817
As at 31 March 2024 204,817
11. Post Balance Sheet Events
On 14th November 2024, the entire share capital of the company was acquired by Bitwise Asset Management, Inc., a company incorporated in the United States with address 25 Montgomery Street, San Fransisco, California, United States, 94104. All previous directors of the company resigned, and new directors were appointed. The business of the company remains unchanged.
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