Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 09912744 G P Clark G R Cooper M M Edmondson T J Gathercole J J Januszewski iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09912744 2023-06-30 09912744 2024-06-30 09912744 2023-07-01 2024-06-30 09912744 frs-core:CurrentFinancialInstruments 2024-06-30 09912744 frs-core:Non-currentFinancialInstruments 2024-06-30 09912744 frs-core:ComputerEquipment 2024-06-30 09912744 frs-core:ComputerEquipment 2023-07-01 2024-06-30 09912744 frs-core:ComputerEquipment 2023-06-30 09912744 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 09912744 frs-core:FurnitureFittings 2024-06-30 09912744 frs-core:FurnitureFittings 2023-07-01 2024-06-30 09912744 frs-core:FurnitureFittings 2023-06-30 09912744 frs-core:OtherResidualIntangibleAssets 2024-06-30 09912744 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 09912744 frs-core:OtherResidualIntangibleAssets 2023-06-30 09912744 frs-core:ShareCapital 2024-06-30 09912744 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 09912744 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09912744 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 09912744 frs-bus:SmallEntities 2023-07-01 2024-06-30 09912744 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09912744 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09912744 frs-bus:OrdinaryShareClass1 2023-07-01 2024-06-30 09912744 frs-bus:OrdinaryShareClass1 2024-06-30 09912744 frs-core:CostValuation 2023-06-30 09912744 frs-core:CostValuation 2024-06-30 09912744 frs-core:ProvisionsForImpairmentInvestments 2023-06-30 09912744 frs-core:ProvisionsForImpairmentInvestments 2024-06-30 09912744 frs-bus:Director1 2023-07-01 2024-06-30 09912744 frs-bus:Director2 2023-07-01 2024-06-30 09912744 frs-bus:Director3 2023-07-01 2024-06-30 09912744 frs-bus:Director4 2023-07-01 2024-06-30 09912744 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 09912744 frs-countries:EnglandWales 2023-07-01 2024-06-30 09912744 2022-06-30 09912744 2023-06-30 09912744 2022-07-01 2023-06-30 09912744 frs-core:CurrentFinancialInstruments 2023-06-30 09912744 frs-core:Non-currentFinancialInstruments 2023-06-30 09912744 frs-core:ShareCapital 2023-06-30 09912744 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 09912744 frs-bus:OrdinaryShareClass1 2022-07-01 2023-06-30
Registered number: 09912744
Inflo Group Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09912744
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,576,724 2,324,805
Tangible Assets 5 31,814 22,475
Investments 6 30,961 30,961
2,639,499 2,378,241
CURRENT ASSETS
Debtors 7 814,463 698,087
Cash at bank and in hand 1,066,345 1,222,391
1,880,808 1,920,478
Creditors: Amounts Falling Due Within One Year 8 (1,297,723 ) (1,118,617 )
NET CURRENT ASSETS (LIABILITIES) 583,085 801,861
TOTAL ASSETS LESS CURRENT LIABILITIES 3,222,584 3,180,102
Creditors: Amounts Falling Due After More Than One Year 9 (809,269 ) (768,578 )
NET ASSETS 2,413,315 2,411,524
CAPITAL AND RESERVES
Called up share capital 11 17,111 17,111
Profit and Loss Account 2,396,204 2,394,413
SHAREHOLDERS' FUNDS 2,413,315 2,411,524
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For the year ending 30 June 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
G P Clark
Director
06/02/2025
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
Inflo Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09912744 . The registered office is Inflo Limited E.Volve Business Centre, Rainton Bridge South Business Park, Houghton Le Spring, Tyne And Wear, DH4 5QY.
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.
Functional and Presentational Currency
The company's functional and presentational currency is GBP.
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 are internally generated software development costs qualifying for capitalisation. These other intangibles are amortised to profit and loss account over their estimated economic life of five years.
2.4. Research and Development
Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met;
  • It is technically feasible to complete the intangible asset so that it will be available for use or sale;
  • There is the intention to complete the intangible asset and use or sell it;
  • There is the ability to use or sell the intangible asset;
  • The use or sale of the intangible asset will generate probable future economic benefits;
  • There are adequate technical. financial and other resources available to complete the development and to use or sell the intangible asset; and
  • The expenditure attritributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred.
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:
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
2.6. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
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.
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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 profit and loss account 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 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.
2.9. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
2.11. Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.12. Share Capital
Ordinary shares are classified as equity.  Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.  If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 68 (2023: 45)
68 45
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 3,612,077
Additions 965,064
As at 30 June 2024 4,577,141
Amortisation
As at 1 July 2023 1,287,272
Provided during the period 713,145
As at 30 June 2024 2,000,417
...CONTINUED
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Net Book Value
As at 30 June 2024 2,576,724
As at 1 July 2023 2,324,805
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 3,132 36,535 39,667
Additions 896 18,327 19,223
As at 30 June 2024 4,028 54,862 58,890
Depreciation
As at 1 July 2023 3,070 14,122 17,192
Provided during the period 487 9,397 9,884
As at 30 June 2024 3,557 23,519 27,076
Net Book Value
As at 30 June 2024 471 31,343 31,814
As at 1 July 2023 62 22,413 22,475
6. Investments
Subsidiaries
£
Cost
As at 1 July 2023 30,961
As at 30 June 2024 30,961
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 30,961
As at 1 July 2023 30,961
The following were subsidiary undertakings of the company:
Name - Inflo (EMEA) Limited
Registered Office - Evolve Business Centre, Cygnet Way, Hougton-Le-Spring, Tyne and Wear.  DH4 5QY.
Class of Shares - Ordinary
Holding - 100%
Name - Inflo (APAC) Limited
Registered Office - Evolve Business Centre, Rainton Bridge South Business Park, Hougton-Le-Spring, Tyne and Wear. DH4 5QY.
Class of Shares - Ordinary
Holding - 100%
Name - Inflo Inc
Registered Office - 1013 Centre Road, Suite 403-B, Wilmington, DE 19805.
Class of Shares - Ordinary
Holding - 100%
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 635,980 192,885
Prepayments and accrued income 105,655 90,468
Other debtors 28,964 289,006
Amounts owed by group undertakings 43,864 125,728
814,463 698,087
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 236,812 91,343
Bank loans and overdrafts - 50,000
Corporation tax 13,121 -
Other taxes and social security 110,149 153,927
VAT 226,748 174,882
Other creditors 10,205 24,108
Accruals and deferred income 698,901 621,842
Directors' loan accounts 1,787 2,515
1,297,723 1,118,617
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 137,500
Amounts owed to group undertakings 809,269 631,078
809,269 768,578
10. Secured Creditors
Of the creditors the following amounts are secured.  The bank loan is secured by a fixed and floating charge over the company's assets and undertakings.
2024 2023
£ £
Bank loans and overdrafts - 187,500
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
17,111 Ordinary Shares of £ 1.00 each 17,111 17,111
12. Pension Commitments
The company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £20,894 (2023: £9,159) were due to the fund. They are included in other creditors.
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