Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07356214 Mr Richard Kirk Mr Stephen Magee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07356214 2023-12-31 07356214 2024-12-31 07356214 2024-01-01 2024-12-31 07356214 frs-core:CurrentFinancialInstruments 2024-12-31 07356214 frs-core:Non-currentFinancialInstruments 2024-12-31 07356214 frs-core:ComputerEquipment 2024-12-31 07356214 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07356214 frs-core:ComputerEquipment 2023-12-31 07356214 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 07356214 frs-core:OtherResidualIntangibleAssets 2024-12-31 07356214 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 07356214 frs-core:OtherResidualIntangibleAssets 2023-12-31 07356214 frs-core:SharePremium 2024-12-31 07356214 frs-core:ShareCapital 2024-12-31 07356214 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07356214 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07356214 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07356214 frs-bus:SmallEntities 2024-01-01 2024-12-31 07356214 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07356214 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07356214 frs-bus:Director1 2024-01-01 2024-12-31 07356214 frs-bus:Director2 2024-01-01 2024-12-31 07356214 frs-core:CurrentFinancialInstruments 1 2024-12-31 07356214 frs-countries:EnglandWales 2024-01-01 2024-12-31 07356214 2022-12-31 07356214 2023-12-31 07356214 2023-01-01 2023-12-31 07356214 frs-core:CurrentFinancialInstruments 2023-12-31 07356214 frs-core:Non-currentFinancialInstruments 2023-12-31 07356214 frs-core:WithinOneYear 2023-12-31 07356214 frs-core:SharePremium 2023-12-31 07356214 frs-core:ShareCapital 2023-12-31 07356214 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07356214 frs-core:CurrentFinancialInstruments 1 2023-12-31 07356214 frs-core:Non-currentFinancialInstruments 1 2023-12-31
Registered number: 07356214
Betterpoints Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Mount Business Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07356214
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 112,494 224,987
Tangible Assets 5 247 1,374
112,741 226,361
CURRENT ASSETS
Stocks 6 3,279 2,707
Debtors 7 249,218 126,174
Cash at bank and in hand 47,389 100,743
299,886 229,624
Creditors: Amounts Falling Due Within One Year 8 (1,706,757 ) (1,323,664 )
NET CURRENT ASSETS (LIABILITIES) (1,406,871 ) (1,094,040 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,294,130 ) (867,679 )
Creditors: Amounts Falling Due After More Than One Year 9 (86,721 ) (396,477 )
NET LIABILITIES (1,380,851 ) (1,264,156 )
CAPITAL AND RESERVES
Called up share capital 11 102 102
Share premium account 3,642,049 3,642,049
Profit and Loss Account (5,023,002 ) (4,906,307 )
SHAREHOLDERS' FUNDS (1,380,851) (1,264,156)
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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 Richard Kirk
Director
16th April 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Betterpoints Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07356214 . The registered office is 3 The Mount, Trumpsgreen Road, Virginia Water, GU25 4EJ.
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 recognise that the business is trading insolvently. As a result the Management prepare monthly performance and cash flow reports for communication to key debt and stakeholders.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to a computer software platform. It is being amortised to profit and loss account on a straight line basis over its estimated economic life of 5 years and is the subject of regular reviews to determine if there has been any impairment in value. Any impairment loss is charged immediately to the profit and loss account in the relevant period.
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 25% on reducing balance
2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.
2.8. 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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2.9. 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 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 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 asset reflects 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 directly in equity, in which case, the current and deferred tax is also recognised directly in equity respectively.
2.10. Pensions
Payments to defined contribution retirement schemes are charged to the profit and loss account as they become payable.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.12. Fixed Asset Investments
Interests in subsidiaries, associates and joint ventures are initially measured at cost and subsequently measured at cost less any impairment in value. Any impairment losses are recognised immediately in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 2,000,000
As at 31 December 2024 2,000,000
Amortisation
As at 1 January 2024 1,775,013
Provided during the period 112,493
As at 31 December 2024 1,887,506
...CONTINUED
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Net Book Value
As at 31 December 2024 112,494
As at 1 January 2024 224,987
The directors carried out an internal review to consider the carrying value of the computer software platform at the year end. The valuation included an assessment of future revenues from the relevant cash generating units discounted by an appropriate discount factor. No impairment has arisen in the year.
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 8,085
As at 31 December 2024 8,085
Depreciation
As at 1 January 2024 6,711
Provided during the period 1,127
As at 31 December 2024 7,838
Net Book Value
As at 31 December 2024 247
As at 1 January 2024 1,374
6. Stocks
2024 2023
£ £
Finished goods 3,279 2,707
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 190,192 83,644
Prepayments and accrued income 2,225 8,732
Other debtors 56,801 33,798
249,218 126,174
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 50,845 41,141
Bank loans and overdrafts 930,609 885,204
Taxes and social security 360,878 241,812
Other creditors 109,809 132,419
Equity advance convertible loan notes 250,000 -
Accruals and deferred income 4,616 23,088
1,706,757 1,323,664
Bank loans include an amount of £800,000 (2022: £800,000) which represents convertible loan notes convertible on the condition of an equity event occuring prior to September 2026. If at September 2026 no equity event has arisen the nominal value of the debt increases to £1,600,000.
Equity advance of £250,000 (2023: creditors amounts falling due after one year £250,000) represents is a receipt in advance of the issue of share capital to CASS Entrepreneurship Investments 2016 LLP, the A shareholder.
Included in other creditors is £2,208 (2023: £14,708) for unpaid pension contributions.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 31,721 91,477
Other creditors 55,000 55,000
Equity advance - 250,000
86,721 396,477
Included in other creditors due after more than one year is £250,000 (2022: £nil) which is a receipt in advance of the issue of share capital to CASS Entrepreneurship Investments 2016 LLP, the A shareholder.
10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured by a fixed and floating charge over the company's assets.
2024 2023
£ £
Bank loans and overdrafts 58,333 112,500
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 943
- 943
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13. Post Balance Sheet Events
On the 11th April 2025 a combination of convertible loan notes and equity in advance totalling £1,050,000 were converted into shares.  Ordinary A shares were issued increasing the issued share capital to nominal value of £155 (1,541,451 shares) and share premium of £1,341,542.
14. Related Party Transactions
Included in other creditors due after more than one year is £40,000 (2023: £40,000) due to S & P Magee.
This loan is from individuals holding a participating interest in the company and is interest free with no fixed repayment date.
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