Acorah Software Products - Accounts Production 16.3.350 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12770927 Mr Krste Pangovski Mr Thomas Dawes Mr Wae Hoa Jonathan Mak Mr Alexander Pejacsevich iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12770927 2023-07-31 12770927 2024-07-31 12770927 2023-08-01 2024-07-31 12770927 frs-core:CurrentFinancialInstruments 2024-07-31 12770927 frs-core:ComputerEquipment 2024-07-31 12770927 frs-core:ComputerEquipment 2023-08-01 2024-07-31 12770927 frs-core:ComputerEquipment 2023-07-31 12770927 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 12770927 frs-core:FurnitureFittings 2024-07-31 12770927 frs-core:FurnitureFittings 2023-08-01 2024-07-31 12770927 frs-core:FurnitureFittings 2023-07-31 12770927 frs-core:OtherResidualIntangibleAssets 2024-07-31 12770927 frs-core:OtherResidualIntangibleAssets 2023-08-01 2024-07-31 12770927 frs-core:OtherResidualIntangibleAssets 2023-07-31 12770927 frs-core:SharePremium 2024-07-31 12770927 frs-core:ShareCapital 2024-07-31 12770927 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12770927 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12770927 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12770927 frs-bus:SmallEntities 2023-08-01 2024-07-31 12770927 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12770927 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12770927 frs-bus:Director1 2023-08-01 2024-07-31 12770927 frs-bus:Director2 2023-08-01 2024-07-31 12770927 frs-bus:Director3 2023-08-01 2024-07-31 12770927 frs-bus:Director4 2023-08-01 2024-07-31 12770927 frs-countries:EnglandWales 2023-08-01 2024-07-31 12770927 2022-07-31 12770927 2023-07-31 12770927 2022-08-01 2023-07-31 12770927 frs-core:CurrentFinancialInstruments 2023-07-31 12770927 frs-core:SharePremium 2023-07-31 12770927 frs-core:ShareCapital 2023-07-31 12770927 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 12770927
Vision Intelligence Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Nigel Ricks & Company Ltd
Chartered Accountants
42 Glebe Street
Loughborough
Leicestershire
LE11 1JR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12770927
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,290 17,302
Tangible Assets 5 3,205 809
18,495 18,111
CURRENT ASSETS
Debtors 6 57,569 82,256
Cash at bank and in hand 12,285 126,480
69,854 208,736
Creditors: Amounts Falling Due Within One Year 7 (140,982 ) (90,937 )
NET CURRENT ASSETS (LIABILITIES) (71,128 ) 117,799
TOTAL ASSETS LESS CURRENT LIABILITIES (52,633 ) 135,910
NET (LIABILITIES)/ASSETS (52,633 ) 135,910
CAPITAL AND RESERVES
Called up share capital 8 131 131
Share premium account 241,644 224,156
Profit and Loss Account (294,408 ) (88,377 )
SHAREHOLDERS' FUNDS (52,633) 135,910
Page 1
Page 2
For the year ending 31 July 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 Thomas Dawes
Director
29th April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vision Intelligence Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12770927 . The registered office is Rose Villa, 42 Glebe Street, Loughborough, Leicestershire, LE11 1JR.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is computer software. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 SL - 33%
Office Equipment SL - 33%
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.
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.
...CONTINUED
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2.6. Taxation - continued
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.
2.7. 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.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 20,115
As at 31 July 2024 20,115
Amortisation
As at 1 August 2023 2,813
Provided during the period 2,012
As at 31 July 2024 4,825
Net Book Value
As at 31 July 2024 15,290
As at 1 August 2023 17,302
5. Tangible Assets
Fixtures & Fittings Office Equipment Total
£ £ £
Cost
As at 1 August 2023 553 779 1,332
Additions 165 3,357 3,522
As at 31 July 2024 718 4,136 4,854
Depreciation
As at 1 August 2023 184 339 523
Provided during the period 223 903 1,126
As at 31 July 2024 407 1,242 1,649
Net Book Value
As at 31 July 2024 311 2,894 3,205
As at 1 August 2023 369 440 809
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,312 6,420
Amounts owed by participating interests 14,000 452
Other debtors 23,257 75,384
57,569 82,256
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,259 24,993
Other loans - 50,462
Amounts owed to participating interests 112,547 17,557
Other creditors 5,382 1,800
Taxation and social security 12,794 (3,875 )
140,982 90,937
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 131 131
9. Related Party Transactions
As at the balance sheet date, the company had a net balance due to related parties of £103,445 (2023: £17,105 payable). The balance included the following: 
Valuechain Technology Ltd £863.37 payable as at 31st July 2024 (2023: Nil)
Fitfactory Technology Ltd £9,999.60 payable as at 31st July 2024 (2023: £8,557.03 payable)
Dawes Capital Ltd £106,582.24 payable as at 31st July 2024 (2023: £9,000 payable)
Total payable as at 31st July 2024 - £117,445
Valuechain Technology Ltd £14,000 receivable as at 31st July 2024 (2023: Nil) 
Vision Intelligence Ltd (Hong Kong) - Nil as at 31st July 2024 (2023: £452.30)
Total receivable as at 31st July 2024 - £14,000
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