Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 21 May 2025 1 January 2024 31 December 2024 31 December 2024 13212152 Fredrik Skantze Mr Fredrik Malm Funnel AB true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13212152 2023-12-31 13212152 2024-12-31 13212152 2024-01-01 2024-12-31 13212152 frs-core:CurrentFinancialInstruments 2024-12-31 13212152 frs-core:PlantMachinery 2024-12-31 13212152 frs-core:PlantMachinery 2024-01-01 2024-12-31 13212152 frs-core:PlantMachinery 2023-12-31 13212152 frs-core:OtherReservesSubtotal 2024-12-31 13212152 frs-core:ShareCapital 2024-12-31 13212152 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13212152 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13212152 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13212152 frs-bus:SmallEntities 2024-01-01 2024-12-31 13212152 frs-bus:Audited 2024-01-01 2024-12-31 13212152 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13212152 1 2024-01-01 2024-12-31 13212152 frs-bus:Director1 2024-01-01 2024-12-31 13212152 frs-bus:Director2 2024-01-01 2024-12-31 13212152 frs-core:CurrentFinancialInstruments 1 2024-12-31 13212152 frs-countries:EnglandWales 2024-01-01 2024-12-31 13212152 2022-12-31 13212152 2023-12-31 13212152 2023-01-01 2023-12-31 13212152 frs-core:CurrentFinancialInstruments 2023-12-31 13212152 frs-core:OtherReservesSubtotal 2023-12-31 13212152 frs-core:ShareCapital 2023-12-31 13212152 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13212152 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 13212152
Funnel Operations Ltd
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 13212152
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,179 752
1,179 752
CURRENT ASSETS
Debtors 5 945,968 995,646
Cash at bank and in hand 121,317 219,027
1,067,285 1,214,673
Creditors: Amounts Falling Due Within One Year 6 (828,985 ) (1,002,184 )
NET CURRENT ASSETS (LIABILITIES) 238,300 212,489
TOTAL ASSETS LESS CURRENT LIABILITIES 239,479 213,241
NET ASSETS 239,479 213,241
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Other reserves 3,660 70,186
Profit and Loss Account 234,819 142,055
SHAREHOLDERS' FUNDS 239,479 213,241
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
Fredrik Skantze
Director
21/05/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Funnel Operations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13212152 . The registered office is First Floor, 1 Cottesbrooke Park, Heartlands Business Park, Daventry, Northamptonshire, NN11 8YL.
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 company made a profit in the year and has net current assets.  The company is dependent on the support from the parent company to continue as a going concern. The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.
2.3. Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the
ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and
discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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:
Plant & Machinery 33.3% Straight line
2.5. Financial Instruments
Financial instruments held by the company include trade debtors, trade creditors and loans from related parties. The
company does not consider there to be any other class of financial instruments.
2.6. Foreign Currencies
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of
the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the
respective funcional currency of the entity at the rates prevailing on the reporting period date. Non-monetary
items carried forward at fair value that are denominated in foreign currencies are retranslated at the rates
prevailing on the initial transaction dates.
2.7. 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
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2.7. 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.
2.8. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the
company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2.9. Trade Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using
the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is
established when there is objective evidence that the company will not be able to collect all amounts due according to
the original terms of the receivables.
2.10. Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments
that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional
right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the
reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting
date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the
effective interest method.
2.13. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments.
2.14. Share Options
The cost and corresponding increase in equity in respect of equity-settled share-based payment transactions with employees are measured by reference to the fair value of equity instruments issued at the date of grant. Amounts are expensed on a straight line basis over the vesting period based on the estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions. The corresponding credit is recognised in other reserves as a component of equity for company employees. Where equity instruments are granted to subsidiary employees, the relevant credit is recognised in other reserves and the corresponding debit as an increase in the cost of investment in subsidiaries.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 3,703
Additions 1,730
Disposals (2,772 )
As at 31 December 2024 2,661
Depreciation
As at 1 January 2024 2,951
Provided during the period 1,103
Disposals (2,572 )
As at 31 December 2024 1,482
Net Book Value
As at 31 December 2024 1,179
As at 1 January 2024 752
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,382 974
Other debtors 2,013 -
Deferred tax current asset 295 6,675
VAT 493 936
Amounts owed by group undertakings 941,785 987,061
945,968 995,646
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,116 2,906
Corporation tax - 30,997
Other taxes and social security 10,380 35,036
Pension creditor 2,344 -
Accruals and deferred income 10,421 311,604
Amounts owed to parent undertaking 803,724 621,641
828,985 1,002,184
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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8. Ultimate Parent Undertaking and Controlling Party
The company's ultimate and immediate parent is Funnel AB, incorporated in Sweden.
The registered addresss for Funnel AB is as follows:
Klarabergsgatan 29
111 21 Stockholm
Sweden

The parent of the smallest group in which these financial statements are consolidated is Funnel Holding AB,
incorporated in Sweden.
The address of Funnel Holding AB is:
Klarabergsgatan 29
111 21 Stockholm
Sweden
9. Audit Information
The auditor's report on the accounts of Funnel Operations Ltd for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by David Wheeler (Senior Statutory Auditor) for and on behalf of Bourner Bullock Chartered Accountants , Statutory Auditor.
Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
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