Acorah Software Products - Accounts Production 16.3.350 false true 31 July 2021 7 July 2020 false 1 August 2021 31 July 2022 31 July 2022 NI670855 Mr Oliver Cavanagh Mr Charles Dowd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI670855 2021-07-31 NI670855 2022-07-31 NI670855 2021-08-01 2022-07-31 NI670855 frs-core:CurrentFinancialInstruments 2022-07-31 NI670855 frs-core:ComputerEquipment 2022-07-31 NI670855 frs-core:ComputerEquipment 2021-08-01 2022-07-31 NI670855 frs-core:ComputerEquipment 2021-07-31 NI670855 frs-core:ShareCapital 2022-07-31 NI670855 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI670855 frs-bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 NI670855 frs-bus:FilletedAccounts 2021-08-01 2022-07-31 NI670855 frs-bus:SmallEntities 2021-08-01 2022-07-31 NI670855 frs-bus:AuditExempt-NoAccountantsReport 2021-08-01 2022-07-31 NI670855 frs-bus:SmallCompaniesRegimeForAccounts 2021-08-01 2022-07-31 NI670855 frs-bus:Director1 2021-08-01 2022-07-31 NI670855 frs-bus:Director2 2021-08-01 2022-07-31 NI670855 frs-countries:NorthernIreland 2021-08-01 2022-07-31 NI670855 2020-07-06 NI670855 2021-07-31 NI670855 2020-07-07 2021-07-31 NI670855 frs-core:CurrentFinancialInstruments 2021-07-31 NI670855 frs-core:ShareCapital 2021-07-31 NI670855 frs-core:RetainedEarningsAccumulatedLosses 2021-07-31
Registered number: NI670855
Gratsi Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2022
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: NI670855
31 July 2022 31 July 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 185
- 185
CURRENT ASSETS
Debtors 5 - 582
Cash at bank and in hand 1,377 1,499
1,377 2,081
Creditors: Amounts Falling Due Within One Year 6 (99,253 ) (2,259 )
NET CURRENT ASSETS (LIABILITIES) (97,876 ) (178 )
TOTAL ASSETS LESS CURRENT LIABILITIES (97,876 ) 7
NET (LIABILITIES)/ASSETS (97,876 ) 7
CAPITAL AND RESERVES
Called up share capital 7 2 2
Income Statement (97,878 ) 5
SHAREHOLDERS' FUNDS (97,876) 7
For the year ending 31 July 2022 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
Mr Oliver Cavanagh
Director
29/05/2025
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
Gratsi Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI670855 . The registered office is 18 Ormeau Avenue, Belfast, BT2 8HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment 25% reducing balance
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to  the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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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
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2021: 1)
2 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2021 247
Disposals (247 )
As at 31 July 2022 -
Depreciation
As at 1 August 2021 62
Disposals (62 )
As at 31 July 2022 -
Net Book Value
As at 31 July 2022 -
As at 1 August 2021 185
5. Debtors
31 July 2022 31 July 2021
£ £
Due within one year
Other debtors - 582
6. Creditors: Amounts Falling Due Within One Year
31 July 2022 31 July 2021
£ £
Amounts owed to group undertakings 98,376 -
Other creditors (482) 900
Taxation and social security 1,359 1,359
99,253 2,259
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7. Share Capital
31 July 2022 31 July 2021
£ £
Allotted, Called up and fully paid 2 2
Page 4