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 12350456 Mr D Burke Mr C Tan Mr T West iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12350456 2023-06-30 12350456 2024-06-30 12350456 2023-07-01 2024-06-30 12350456 frs-core:ComputerEquipment 2023-07-01 2024-06-30 12350456 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 12350456 frs-core:FurnitureFittings 2023-07-01 2024-06-30 12350456 frs-core:ShareCapital 2024-06-30 12350456 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 12350456 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12350456 frs-bus:AbridgedAccounts 2023-07-01 2024-06-30 12350456 frs-bus:SmallEntities 2023-07-01 2024-06-30 12350456 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12350456 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12350456 frs-bus:Director1 2023-07-01 2024-06-30 12350456 frs-bus:Director2 2023-07-01 2024-06-30 12350456 frs-bus:Director3 2023-07-01 2024-06-30 12350456 frs-countries:EnglandWales 2023-07-01 2024-06-30 12350456 2022-06-30 12350456 2023-06-30 12350456 2022-07-01 2023-06-30 12350456 frs-core:ShareCapital 2023-06-30 12350456 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 12350456
UBX Global Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 12350456
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,293 13,011
Tangible Assets 5 7,538 12,222
16,831 25,233
CURRENT ASSETS
Stocks 172,061 117,454
Debtors 6 46,598 25,209
Cash at bank and in hand 41,751 64,158
260,410 206,821
Creditors: Amounts Falling Due Within One Year (687,675 ) (480,139 )
NET CURRENT ASSETS (LIABILITIES) (427,265 ) (273,318 )
TOTAL ASSETS LESS CURRENT LIABILITIES (410,434 ) (248,085 )
NET LIABILITIES (410,434 ) (248,085 )
CAPITAL AND RESERVES
Called up share capital 7 12 12
Profit and Loss Account (410,446 ) (248,097 )
SHAREHOLDERS' FUNDS (410,434) (248,085)
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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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr D Burke
Director
25th March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
UBX Global Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12350456 . The registered office is 3rd Floor 207, Regent Street, London, W1B 3HH.
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. 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
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.Other intangible assets relate to software development costs and are being amortised over the estimated useful economic life of five years.
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 33% Straight line Method
Computer Equipment 33% Straight line Method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
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.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
...CONTINUED
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2.6. Financial Instruments - continued
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.
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 in the Statement of Income and Retained Earnings.
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.
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Total
£
Cost
As at 1 July 2023 18,587
As at 30 June 2024 18,587
Amortisation
As at 1 July 2023 5,576
Provided during the period 3,718
As at 30 June 2024 9,294
Net Book Value
As at 30 June 2024 9,293
As at 1 July 2023 13,011
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5. Tangible Assets
Total
£
Cost
As at 1 July 2023 14,193
As at 30 June 2024 14,193
Depreciation
As at 1 July 2023 1,971
Provided during the period 4,684
As at 30 June 2024 6,655
Net Book Value
As at 30 June 2024 7,538
As at 1 July 2023 12,222
6. Debtors
2024 2023
£ £
Due after more than one year
Amounts owed by group undertakings 7,217 -
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 12 12
8. Related Party Transactions
At the Balance Sheet date the company owed £679,548 to companies under the same controlling party, the balance is repayable on demand. £686,765 owed from UBX Australia Pty Ltd, UBX International Limited &  UBX US LLC is held under amounts payable within one year and £7,217 owed to UBX Holdings Limited & UBX IP Ltd is held under amounts receivable within one year.
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