Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 18 March 2025 1 January 2024 31 December 2024 31 December 2024 13655541 Mr Aziz Ali Mr David Li Norra, Riddarholmshamnen 1, 111 28, Stockholm, Sweden true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13655541 2023-12-31 13655541 2024-12-31 13655541 2024-01-01 2024-12-31 13655541 frs-core:CurrentFinancialInstruments 2024-12-31 13655541 frs-core:BetweenOneFiveYears 2024-12-31 13655541 frs-core:ComputerEquipment 2024-12-31 13655541 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13655541 frs-core:ComputerEquipment 2023-12-31 13655541 frs-core:FurnitureFittings 2024-12-31 13655541 frs-core:FurnitureFittings 2024-01-01 2024-12-31 13655541 frs-core:FurnitureFittings 2023-12-31 13655541 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 13655541 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 13655541 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 13655541 frs-core:WithinOneYear 2024-12-31 13655541 frs-core:ShareCapital 2024-12-31 13655541 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13655541 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13655541 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13655541 frs-bus:SmallEntities 2024-01-01 2024-12-31 13655541 frs-bus:Audited 2024-01-01 2024-12-31 13655541 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13655541 1 2024-01-01 2024-12-31 13655541 frs-bus:Director1 2024-01-01 2024-12-31 13655541 frs-bus:Director2 2024-01-01 2024-12-31 13655541 frs-core:CurrentFinancialInstruments 1 2024-12-31 13655541 frs-countries:EnglandWales 2024-01-01 2024-12-31 13655541 2022-12-31 13655541 2023-12-31 13655541 2023-01-01 2023-12-31 13655541 frs-core:CurrentFinancialInstruments 2023-12-31 13655541 frs-core:BetweenOneFiveYears 2023-12-31 13655541 frs-core:WithinOneYear 2023-12-31 13655541 frs-core:ShareCapital 2023-12-31 13655541 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13655541 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 13655541
Important Looking Pirates Limited
Financial Statements
For The Year Ended 31 December 2024
Goodwille Limited
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—6
Page 1
Statement of Financial Position
Registered number: 13655541
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 357,785 34,019
357,785 34,019
CURRENT ASSETS
Debtors 5 660,174 401,442
Cash at bank and in hand 241,518 71,440
901,692 472,882
Creditors: Amounts Falling Due Within One Year 6 (1,065,424 ) (426,363 )
NET CURRENT ASSETS (LIABILITIES) (163,732 ) 46,519
TOTAL ASSETS LESS CURRENT LIABILITIES 194,053 80,538
PROVISIONS FOR LIABILITIES
Deferred Taxation (48,874 ) (8,505 )
NET ASSETS 145,179 72,033
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 145,079 71,933
SHAREHOLDERS' FUNDS 145,179 72,033
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 Income Statement.
On behalf of the board
Mr Aziz Ali
Director
18/03/2025
The notes on pages 2 to 6 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Important Looking Pirates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13655541 . The registered office is Part First Floor 2 Leonard Circus, 62 Paul Street, London, EC2A 4DQ.
The principal activity of the company is creating visual effects and digital animation for the film industry.
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 is dependent on the support of its shareholders to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
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:
Leasehold 5 years
Fixtures & Fittings 5 years
Computer Equipment 3 years
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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2.7. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.
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 profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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 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 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.11. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
2.12. 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.
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2.13. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.14. 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.
2.15. Restatement of amounts owed to group
The prior year balance for amounts owed to group undertakings has been restated, so that the balance is now not netted, and as such shows the amounts owed by group undertakings separately under the debtor and creditor note.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 22 (2023: 15)
22 15
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 - 34,126 656 34,782
Additions 287,680 77,449 48,716 413,845
As at 31 December 2024 287,680 111,575 49,372 448,627
Depreciation
As at 1 January 2024 - 569 194 763
Provided during the period 54,852 21,125 14,102 90,079
As at 31 December 2024 54,852 21,694 14,296 90,842
Net Book Value
As at 31 December 2024 232,828 89,881 35,076 357,785
As at 1 January 2024 - 33,557 462 34,019
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5. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 177,703 -
Prepayments and accrued income 61,284 68,805
Other debtors 130,113 130,113
Corporation tax recoverable assets 13,092 -
VAT - 24,389
Amounts owed by group undertakings 277,982 178,135
660,174 401,442
6. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 70,169 5,881
Corporation tax - 13,092
Other taxes and social security 66,168 47,725
VAT 82,757 -
Pension Liability 10,028 6,923
Accruals and deferred income 147,520 22,629
Amounts owed to group undertakings 688,782 330,113
1,065,424 426,363
7. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
as restated
£ £
Not later than one year 207,819 108,428
Later than one year and not later than five years 632,494 840,313
840,313 948,741
9. Dividends
No dividends were proposed or paid during the current or prior year. 
10. Ultimate Parent Undertaking and Controlling Party
The parent company of the smallest group in which these financial statements are consolidated is Important Looking Pirates AB , a company incorporated in Sweden. Copies of the group accounts may be obtained from the secretary, Norra, Riddarholmshamnen 1, 111 28, Stockholm, Sweden .
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11. Audit Information
The auditor's report on the accounts of Important Looking Pirates Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Hannah Fowlie (Senior Statutory Auditor) for and on behalf of Bourner Bullock , Statutory Auditor.
Bourner Bullock
Chartered Accountants
114 St Martin’s Lane
Covent Garden
London
WC2N 4BE
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