Acorah Software Products - Accounts Production 16.2.850 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05377711 Mr Alexander Allan Mr Graham Twaddle Mr James Ward true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05377711 2023-12-31 05377711 2024-12-31 05377711 2024-01-01 2024-12-31 05377711 frs-core:CurrentFinancialInstruments 2024-12-31 05377711 frs-core:Non-currentFinancialInstruments 2024-12-31 05377711 frs-core:ComputerEquipment 2024-12-31 05377711 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05377711 frs-core:ComputerEquipment 2023-12-31 05377711 frs-core:FurnitureFittings 2024-12-31 05377711 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05377711 frs-core:FurnitureFittings 2023-12-31 05377711 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 05377711 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 05377711 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 05377711 frs-core:ShareCapital 2024-12-31 05377711 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05377711 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05377711 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05377711 frs-bus:SmallEntities 2024-01-01 2024-12-31 05377711 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05377711 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05377711 1 2024-01-01 2024-12-31 05377711 frs-bus:Director1 2024-01-01 2024-12-31 05377711 frs-bus:Director2 2024-01-01 2024-12-31 05377711 frs-bus:Director3 2024-01-01 2024-12-31 05377711 frs-core:CurrentFinancialInstruments 2 2024-12-31 05377711 frs-countries:EnglandWales 2024-01-01 2024-12-31 05377711 2022-12-31 05377711 2023-12-31 05377711 2023-01-01 2023-12-31 05377711 frs-core:CurrentFinancialInstruments 2023-12-31 05377711 frs-core:Non-currentFinancialInstruments 2023-12-31 05377711 frs-core:ShareCapital 2023-12-31 05377711 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05377711 frs-core:CurrentFinancialInstruments 2 2023-12-31
Registered number: 05377711
Corporate Modelling Services Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05377711
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,766 10,747
9,766 10,747
CURRENT ASSETS
Debtors 5 280,371 353,411
Cash at bank and in hand 254,747 208,039
535,118 561,450
Creditors: Amounts Falling Due Within One Year 6 (876,052 ) (318,258 )
NET CURRENT ASSETS (LIABILITIES) (340,934 ) 243,192
TOTAL ASSETS LESS CURRENT LIABILITIES (331,168 ) 253,939
Creditors: Amounts Falling Due After More Than One Year 7 (207,778 ) (162,202 )
NET (LIABILITIES)/ASSETS (538,946 ) 91,737
CAPITAL AND RESERVES
Called up share capital 8 150,002 150,000
Profit and Loss Account (688,948 ) (58,263 )
SHAREHOLDERS' FUNDS (538,946) 91,737
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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 Alexander Allan
Director
10/04/2025
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
Corporate Modelling Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05377711 . The registered office is 47 Oakleigh Park North, London, N20 9AT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure
The Company currently does not have any staff on furlough, is repaying the VAT deferral monthly in accordance with HMRC rules and is aiming to repay the bounce back loan out of cash flow.

2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income

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:
Leasehold 3 years
Fixtures & Fittings 3 years
Computer Equipment 33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.5. Leasing and Hire Purchase Contracts
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.


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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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

2.7. Foreign Currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period
2.8. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.9. Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.10. Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised when paid.
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2.12. Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.13 Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. Average Number of Employees
2Average number of employees, including directors, during the year was: 21 (2023: 21)
21 21
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 7,986 7,364 129,365 144,715
Additions - - 6,314 6,314
As at 31 December 2024 7,986 7,364 135,679 151,029
Depreciation
As at 1 January 2024 7,986 7,364 118,618 133,968
Provided during the period - - 7,295 7,295
As at 31 December 2024 7,986 7,364 125,913 141,263
Net Book Value
As at 31 December 2024 - - 9,766 9,766
As at 1 January 2024 - - 10,747 10,747
Cost or valuation as at 31 December 2024 represented by:
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
At cost 7,986 7,364 135,679 151,029
7,986 7,364 135,679 151,029
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,100 130,140
Prepayments and accrued income 138,487 18,755
Other debtors 8,826 85,881
Corporation tax recoverable assets 97,321 118,635
Amounts owed by group undertakings 32,637 -
280,371 353,411
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,467 41,052
Bank loans and overdrafts 25,910 10,144
Other loans 79,274 29,167
Other taxes and social security 26,648 28,818
VAT 36,557 38,801
Pension payable 7,813 9,578
Credit cards 2,761 1,873
Accruals and deferred income 307,629 134,668
Amounts owed to group undertakings 374,993 24,157
876,052 318,258
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,260 15,661
Other loans 203,518 146,541
207,778 162,202
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 150,002 150,000
9. Contingent Liabilities
During the year the company took on a 5 year debt facility from the FSE group and granted a charge over the assets. The debt is cross guaranteed by its parent company, OPX Software Holdings Limited, its related company, Solvrisk Limited and by it's own assets.
10. Ultimate Controlling Party
The company's ultimate controlling party is OPX Software Holdings Ltd, a company registered in England and Wales ,registered office 47 Oakleigh Park North, London, England, N20 9AT by virtue of its ownership of 100% of the issued share capital in the company.
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