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Registered number: 12687495
Tally Marketplace Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12687495
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,834 1,854
1,834 1,854
CURRENT ASSETS
Debtors 5 54,542 127,968
Cash at bank and in hand 407,288 235,139
461,830 363,107
Creditors: Amounts Falling Due Within One Year 6 (217,895 ) (228,270 )
NET CURRENT ASSETS (LIABILITIES) 243,935 134,837
TOTAL ASSETS LESS CURRENT LIABILITIES 245,769 136,691
NET ASSETS 245,769 136,691
CAPITAL AND RESERVES
Called up share capital 7 2 1
Share premium account 867,754 620,006
Share based payment reserves 3,478 -
Profit and Loss Account (625,465 ) (483,316 )
SHAREHOLDERS' FUNDS 245,769 136,691
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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
Laura Beales
Director
26 November 2024
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
Tally Marketplace Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 12687495 . The registered office is 86-90 Paul Street, London, EC2A 4NE.
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 company’s financial statements have been prepared on a going concern basis on the grounds  that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
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 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.
2.4. 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:
Computer Equipment 2 years straight line
2.5. 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.
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.
2.6. 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 the tax currently payable.
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.
Current or tax for the year is recognised in profit or loss.
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.
2.9. Share Based Payments
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 11 (2023: 11)
11 11
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 11,196
Additions 2,211
As at 30 June 2024 13,407
Depreciation
As at 1 July 2023 9,342
Provided during the period 2,231
As at 30 June 2024 11,573
Net Book Value
As at 30 June 2024 1,834
As at 1 July 2023 1,854
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 47,846 64,082
Other debtors 6,696 63,886
54,542 127,968
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 58,967 84,984
Other creditors 119,246 97,778
Taxation and social security 39,682 45,508
217,895 228,270
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 1
8. Share Based Payments
The company operates an equity based share option scheme to certain employees which provides additional remuneration for those employees who are key to the company. The options are granted under an approved EMI option plan, with the exercise price equalling the nominal value of the shares. The options expire ten years after the date of the grant. Employees are not entitled to dividends until the shares are exercised. All options granted have performance conditions relating to the relevant employee remaining in the employment of the company at exercise.
The options were granted in 2021 and 2022.
At 30 June 2021, 30 June 2022 and 30 June 2023, the potential share-based payment charge on the vested part of options was considered immaterial to the company's accounts and therefore no share-based payment charges were recorded in previous financial statements. The full share-based payments charge relating to earlier periods is included in the year ended 30 June 2024. 
A reconciliation of share option movements during the year ended 30 June 2024 is shown below:
Number of options - weighted average exercise price
Outstanding as at 1 July 2023: 13,911 - £139
Granted during the year: 3,500 - £6,545
Outstanding as at 30 June 2024: 17,411 - £6,684
The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share option schemes similar to that of the company.
Equity settled schemes - charges arising: £3,478
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