Acorah Software Products - Accounts Production 16.2.850 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 12194411 Mr A M Jones Mr B A Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12194411 2024-03-31 12194411 2025-03-31 12194411 2024-04-01 2025-03-31 12194411 frs-core:CurrentFinancialInstruments 2025-03-31 12194411 frs-core:ComputerEquipment 2025-03-31 12194411 frs-core:ComputerEquipment 2024-04-01 2025-03-31 12194411 frs-core:ComputerEquipment 2024-03-31 12194411 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 12194411 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 12194411 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 12194411 frs-core:FurnitureFittings 2025-03-31 12194411 frs-core:FurnitureFittings 2024-04-01 2025-03-31 12194411 frs-core:FurnitureFittings 2024-03-31 12194411 frs-core:OtherResidualIntangibleAssets 2025-03-31 12194411 frs-core:OtherResidualIntangibleAssets 2024-04-01 2025-03-31 12194411 frs-core:OtherResidualIntangibleAssets 2024-03-31 12194411 frs-core:SharePremium 2025-03-31 12194411 frs-core:ShareCapital 2025-03-31 12194411 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 12194411 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12194411 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 12194411 frs-bus:SmallEntities 2024-04-01 2025-03-31 12194411 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 12194411 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12194411 frs-bus:Director1 2024-04-01 2025-03-31 12194411 frs-bus:Director2 2024-04-01 2025-03-31 12194411 frs-countries:EnglandWales 2024-04-01 2025-03-31 12194411 2023-03-31 12194411 2024-03-31 12194411 2023-04-01 2024-03-31 12194411 frs-core:CurrentFinancialInstruments 2024-03-31 12194411 frs-core:SharePremium 2024-03-31 12194411 frs-core:ShareCapital 2024-03-31 12194411 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 12194411
Traced Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12194411
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 675,134 650,214
Tangible Assets 5 535 1,491
675,669 651,705
CURRENT ASSETS
Debtors 6 26,362 33,657
Cash at bank and in hand 66,535 114,476
92,897 148,133
Creditors: Amounts Falling Due Within One Year 7 (6,647 ) (50,852 )
NET CURRENT ASSETS (LIABILITIES) 86,250 97,281
TOTAL ASSETS LESS CURRENT LIABILITIES 761,919 748,986
NET ASSETS 761,919 748,986
CAPITAL AND RESERVES
Called up share capital 8 2,180 2,180
Share premium account 919,500 919,500
Profit and Loss Account (159,761 ) (172,694 )
SHAREHOLDERS' FUNDS 761,919 748,986
For the year ending 31 March 2025 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 B A Jones
Director
23rd April 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Traced Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12194411 . The registered office is 1b Blackfriars House Parsonage, Manchester, Greater Manchester, M3 2JA.
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. 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.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Fixtures & Fittings 3 years
Computer Equipment 3 years
2.5. 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.
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.
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.
...CONTINUED
Page 2
Page 3
2.6. Taxation - continued
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 3)
2 3
4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 April 2024 26,326 692,353 718,679
Additions 965 96,483 97,448
As at 31 March 2025 27,291 788,836 816,127
Amortisation
As at 1 April 2024 - 68,465 68,465
Provided during the period - 72,528 72,528
As at 31 March 2025 - 140,993 140,993
Net Book Value
As at 31 March 2025 27,291 647,843 675,134
As at 1 April 2024 26,326 623,888 650,214
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 145 3,061 3,206
Additions 119 35 154
As at 31 March 2025 264 3,096 3,360
Depreciation
As at 1 April 2024 4 1,711 1,715
Provided during the period 84 1,026 1,110
As at 31 March 2025 88 2,737 2,825
Net Book Value
As at 31 March 2025 176 359 535
As at 1 April 2024 141 1,350 1,491
Page 3
Page 4
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 6,163 2,579
Prepayments and accrued income - 14,489
Other debtors 1,000 -
Corporation tax recoverable assets 18,786 16,589
VAT 413 -
26,362 33,657
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,239 (1 )
Other loans - 30,000
Other taxes and social security 1,339 6,362
VAT - 12,419
Accruals and deferred income 1,995 2,021
Directors' loan accounts 74 51
6,647 50,852
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2,180 2,180
Page 4