Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 10648661 Bloc Ventures Directors Limited Mr Hardeep Nagi Mr Hendrikus De Kroon Bloc Ventures Ltd 51-52 St. John's Square, London, England, EC1V 4JL true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10648661 2023-12-31 10648661 2024-12-31 10648661 2024-01-01 2024-12-31 10648661 frs-core:CurrentFinancialInstruments 2024-12-31 10648661 frs-core:ComputerEquipment 2024-12-31 10648661 frs-core:ComputerEquipment 2024-01-01 2024-12-31 10648661 frs-core:ComputerEquipment 2023-12-31 10648661 frs-core:OtherReservesSubtotal 2024-12-31 10648661 frs-core:SharePremium 2024-12-31 10648661 frs-core:ShareCapital 2024-12-31 10648661 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10648661 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10648661 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10648661 frs-bus:SmallEntities 2024-01-01 2024-12-31 10648661 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10648661 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10648661 1 2024-01-01 2024-12-31 10648661 frs-core:CostValuation 2023-12-31 10648661 frs-core:CostValuation 2024-12-31 10648661 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 10648661 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 10648661 frs-bus:Director1 2024-01-01 2024-12-31 10648661 frs-bus:Director2 2024-01-01 2024-12-31 10648661 frs-bus:Director3 2024-01-01 2024-12-31 10648661 frs-countries:EnglandWales 2024-01-01 2024-12-31 10648661 2022-12-31 10648661 2023-12-31 10648661 2023-01-01 2023-12-31 10648661 frs-core:CurrentFinancialInstruments 2023-12-31 10648661 frs-core:OtherReservesSubtotal 2023-12-31 10648661 frs-core:SharePremium 2023-12-31 10648661 frs-core:ShareCapital 2023-12-31 10648661 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 10648661
Yordex Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10648661
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,759 8,091
Investments 5 962 962
9,721 9,053
CURRENT ASSETS
Debtors 6 306,458 269,757
Cash at bank and in hand 11,900 62,793
318,358 332,550
Creditors: Amounts Falling Due Within One Year 7 (801,450 ) (356,595 )
NET CURRENT ASSETS (LIABILITIES) (483,092 ) (24,045 )
TOTAL ASSETS LESS CURRENT LIABILITIES (473,371 ) (14,992 )
NET LIABILITIES (473,371 ) (14,992 )
CAPITAL AND RESERVES
Called up share capital 8 204 198
Share premium account 5,925,804 5,692,287
Capital redemption 203 203
Profit and Loss Account (6,399,582 ) (5,707,680 )
SHAREHOLDERS' FUNDS (473,371) (14,992)
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For the year ending 31 December 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
Mr Hendrikus De Kroon
Director
26 March 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
Yordex Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 10648661 . The registered office is 51-52 St John's Square, London, EC1V 4JL.
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 believe the company’s financial statements should be prepared on a going concern basis. The directors based their consideration on projected cash-flow forecasts which cover a period of 12 months from the date of the approval of these financial statements. The forecasts are based on assumptions which include new investment as well as ongoing support from the company’s current investors. The financial statements do not include any adjustments that may result from any significant changes in the assumptions used in preparing the cash-flow forecasts.
2.3. Significant judgements and estimations
The preparation of financial statements requires management to make judgements, estimates and assumptions which affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
In preparing these financial statements, the directors have made the following judgements:
Share option charges
FRS 102 requires the grant date fair value of share-based payments awards granted to employees and contractors to be recognised as an expense, with a corresponding increase in equity, over the period in which the employees and contractors become unconditionally entitled to the awards. Share options issued to the company’s employees and contractors will only be exercised on an exit event. At the date of these financial statements management has determined that an exit event is not probable and therefore no share-based payment charges have been recorded in these financial statements. 
2.4. 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 returns, 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 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.
2.5. Research and Development
Expenditure on research and development is written off in the year it is incurred.
2.6. 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 5 years on straight line basis
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2.7. Financial Instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Investments

Investments in subsidiaries are held at cost less accumulated impairment losses.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.8. 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.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable 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.
Current or deferred tax for the year is recognised in profit or loss.
2.10. Preparation of consolidated accounts exemption
The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.
2.11. Related party exemption
The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries in the group.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 10 (2023: 12)
10 12
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 19,982
Additions 4,748
Disposals (833 )
As at 31 December 2024 23,897
Depreciation
As at 1 January 2024 11,891
Provided during the period 3,648
Disposals (401 )
As at 31 December 2024 15,138
Net Book Value
As at 31 December 2024 8,759
As at 1 January 2024 8,091
5. Investments
Other
£
Cost
As at 1 January 2024 962
As at 31 December 2024 962
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 962
As at 1 January 2024 962
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,778 8,783
Amounts owed by group undertakings 166,322 -
Other debtors 123,358 260,974
306,458 269,757
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 240,139 195,275
Other loans 328,120 -
Other creditors 29,007 12,866
Taxation and social security 204,184 148,454
801,450 356,595
The company operates a defined contribution pension scheme for employees. 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 amounted to £3,253 (2023: £3,613) were due to the fund and included in Other Creditors.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 204 198
9. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Bloc Ventures Ltd . Bloc Ventures Ltd was incorporated in England and Wales. No consolidated accounts have been prepared.
The ultimate controlling party is Bloc Ventures Ltd who controls 55.98% of the shares of Yordex Ltd .
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