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Registered number: 12312917
Boost Technology Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 12312917
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 284 815
Investments 5 500 400
784 1,215
CURRENT ASSETS
Debtors 6 1,910,505 1,767,459
Cash at bank and in hand 9,703 67,884
1,920,208 1,835,343
Creditors: Amounts Falling Due Within One Year 7 (16,022 ) (15,528 )
NET CURRENT ASSETS (LIABILITIES) 1,904,186 1,819,815
TOTAL ASSETS LESS CURRENT LIABILITIES 1,904,970 1,821,030
NET ASSETS 1,904,970 1,821,030
CAPITAL AND RESERVES
Called up share capital 8 113 112
Share premium account 529,198 484,380
Other reserves 2,932,090 2,587,282
Income Statement (1,556,431 ) (1,250,744 )
SHAREHOLDERS' FUNDS 1,904,970 1,821,030
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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 Income Statement.
On behalf of the board
M C Roach
Director
22nd April 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
Boost Technology Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12312917 . The registered office is 128 City Road, London, EC1V 2NX.
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 directors believe that the company is is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectations that the company has adequate resources to continue in operational existence for th foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the 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 returns, 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 3 years straight line method
2.5. 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.
2.6. 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.
2.7. 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.
2.8. Investments in subsidiaries, and Shareholders loans
Investments in subsidiary undertakings are recognised at cost.
The Company may enter into agreements with regards to financing of the Company and based on the terms of those agreements it is determined if they are appropriately classified as debts or equity. These contracts are monitored on a regular basis and reclassified accordingly if there is a change in their nature.
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2.9. Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit and loss over the vesting period.  Non-market conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of Financial Posision date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.  Market vesting conditions are factored into the fair value of the options granted.  The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as target based on an index) or factors which are within the control of one of other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the profit and loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods or services received.
2.10. Grants
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
During the year, the company received non government grant income of £64,915 (2023: £213,691). 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 2,157
As at 31 December 2024 2,157
Depreciation
As at 1 January 2024 1,342
Provided during the period 531
As at 31 December 2024 1,873
Net Book Value
As at 31 December 2024 284
As at 1 January 2024 815
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5. Investments
Subsidiaries
£
Cost
As at 1 January 2024 400
Additions 100
As at 31 December 2024 500
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 500
As at 1 January 2024 400
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,571
Corporation tax recoverable assets 44,913 50,487
VAT 1,881 3,207
Net wages 460 -
Amounts owed by group undertakings - 1,712,194
47,254 1,767,459
Due after more than one year
Amounts owed by group undertakings 1,863,251 -
1,910,505 1,767,459
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,755 5,244
Other taxes and social security 10,267 9,271
Net wages - 1,013
16,022 15,528
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8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
9,158 Ordinary Shares of £ 0.01 each 92 91
Preference Shares
2024 2023
Allotted, called up and fully paid £ £
2,092 Deferred shares of £ 0.01 each 21 21
Shares issued during the period: £
31 Ordinary Shares of £ 0.01 each 1
During the year the following ordinary share allotments were made:
  • On 14th June 2024, 14 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £864.10 per share
  • On 22nd August 2024, 12 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £841.17 per share
  • On 11th December 2024, 5 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £861.96 per share
9. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £1,013 (2023 - £1,013) were due to the fund. This is included in Other taxes and social security.
10. Reserves
As at 31st December 2024 other reserves included £2,803,813 (2023: £2,459,005) represented subscription agreements which will convert when the company raises a minimum of $500k from one investor or $1m from a group of investors, where equity will be issed at a fixed valuation.  
During the year to 31st December 2024, the company received £344,809 (2023: £710,035) of further funds from investors which will convert into equity in the furture via Simple Agreement for Future Equity agreements.
During the year to 31st December 2022 the company issued a total of 1300 EMI share options to its Directors with a cumulative fair value at date of grant of £128,289.  No further options were issued during the year to 31st December 2023 or 31st December 2024.
11. Ultimate Controlling Party
The company's ultimate controlling parties are the directors.
12. Group undertakings
As per Companies Act 2006 S399(2A) the company, together with its subsidiary, qualify for the small companies regime, and is therefore exempt from preparing group accounts. Below are the subsidiaries and their addresses:
Boost Nigeria Ltd - 128 City Road, London, United Kingdom, EC1V 2NX
Boost Egypt Ltd - 128 City Road, London, United Kingdom, EC1V 2NX
Boost Ghana Ltd - 128 City Road, London, United Kingdom, EC1V 2NX
Boost SA Ltd - 128 City Road, London, United Kingdom, EC1V 2NX
Boost Kenya Ltd - 128 City Road, London, United Kingdom, EC1V 2NX
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