Acorah Software Products - Accounts Production 16.1.300 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 05930939 Dr M Gilbert Mr B E Skinner Dr C C Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05930939 2023-07-31 05930939 2024-07-31 05930939 2023-08-01 2024-07-31 05930939 frs-core:CurrentFinancialInstruments 2024-07-31 05930939 frs-core:ComputerEquipment 2024-07-31 05930939 frs-core:ComputerEquipment 2023-08-01 2024-07-31 05930939 frs-core:ComputerEquipment 2023-07-31 05930939 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-07-31 05930939 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-08-01 2024-07-31 05930939 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-07-31 05930939 frs-core:SharePremium 2024-07-31 05930939 frs-core:ShareCapital 2024-07-31 05930939 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 05930939 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05930939 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 05930939 frs-bus:SmallEntities 2023-08-01 2024-07-31 05930939 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05930939 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05930939 frs-bus:Director1 2023-08-01 2024-07-31 05930939 frs-bus:Director2 2023-08-01 2024-07-31 05930939 frs-bus:Director3 2023-08-01 2024-07-31 05930939 frs-countries:EnglandWales 2023-08-01 2024-07-31 05930939 2022-07-31 05930939 2023-07-31 05930939 2022-08-01 2023-07-31 05930939 frs-core:CurrentFinancialInstruments 2023-07-31 05930939 frs-core:SharePremium 2023-07-31 05930939 frs-core:ShareCapital 2023-07-31 05930939 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 05930939
Limitstate Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05930939
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,316 884
1,316 884
CURRENT ASSETS
Debtors 6 100,440 88,086
Cash at bank and in hand 296,032 259,886
396,472 347,972
Creditors: Amounts Falling Due Within One Year 7 (176,715 ) (154,607 )
NET CURRENT ASSETS (LIABILITIES) 219,757 193,365
TOTAL ASSETS LESS CURRENT LIABILITIES 221,073 194,249
NET ASSETS 221,073 194,249
CAPITAL AND RESERVES
Called up share capital 8 10,750 10,750
Share premium account 182,774 182,774
Profit and Loss Account 27,549 725
SHAREHOLDERS' FUNDS 221,073 194,249
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For the year ending 31 July 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
Dr C C Smith
Director
18 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Limitstate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05930939 . The registered office is The Innovation Centre, 217 Portobello, Sheffield, S1 4DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.
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 returns, rebates and other similar allowances.
Rendering of services
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset and is reduced to nil over 3 years.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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% 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 Research and Development tax credits recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
Research and Development tax credits are recognised on research and development carried out in past periods. This policy reflects the Directors beliefs that the Research and Development tax credit should only be recognised when there is a reasonable expectation that the Research and Development tax credit will be agreed with tax authorities. Research and Development tax credits are measured at the amounts of tax expected to be recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
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4. Intangible Assets
Intellectual Property
£
Cost
As at 1 August 2023 12,220
As at 31 July 2024 12,220
Amortisation
As at 1 August 2023 12,220
As at 31 July 2024 12,220
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2023 12,643
Additions 1,421
As at 31 July 2024 14,064
Depreciation
As at 1 August 2023 11,759
Provided during the period 989
As at 31 July 2024 12,748
...CONTINUED
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Net Book Value
As at 31 July 2024 1,316
As at 1 August 2023 884
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 64,436 60,854
Prepayments and accrued income 36,004 27,232
100,440 88,086
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 5,965 4,385
VAT 6,122 9,699
Other creditors 12,962 3,826
Accruals and deferred income 151,666 136,697
176,715 154,607
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,750 10,750
9. Related Party Transactions
During the year the company made sales totalling £nil (2023 - £nil) to the University of Sheffield. At the year end the balance due from the University of Sheffield was £nil (2023 - £nil).
During the year the company purchased services totalling £13,345 (2023 - £85) from the University of Sheffield, a shareholder in the company. At the year end the company owed £nil (2023 - £nil) to the University of Sheffield.
The company purchased management and other services totalling £6,972 (2023 - £6,972) from Suel Limited, a shareholder in the company. At the year end the company owed £nil (2023 - £nil) to Suel Limited.
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