Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 20 May 2025 1 January 2024 31 December 2024 31 December 2024 13668781 Mr Johan Jarskog Next One Technology Intressenter AB true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13668781 2023-12-31 13668781 2024-12-31 13668781 2024-01-01 2024-12-31 13668781 frs-core:CurrentFinancialInstruments 2024-12-31 13668781 frs-core:BetweenOneFiveYears 2024-12-31 13668781 frs-core:WithinOneYear 2024-12-31 13668781 frs-core:ShareCapital 2024-12-31 13668781 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13668781 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13668781 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13668781 frs-bus:SmallEntities 2024-01-01 2024-12-31 13668781 frs-bus:Audited 2024-01-01 2024-12-31 13668781 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13668781 1 2024-01-01 2024-12-31 13668781 frs-bus:Director1 2024-01-01 2024-12-31 13668781 frs-core:CurrentFinancialInstruments 1 2024-12-31 13668781 frs-countries:EnglandWales 2024-01-01 2024-12-31 13668781 2022-12-31 13668781 2023-12-31 13668781 2023-01-01 2023-12-31 13668781 frs-core:CurrentFinancialInstruments 2023-12-31 13668781 frs-core:BetweenOneFiveYears 2023-12-31 13668781 frs-core:WithinOneYear 2023-12-31 13668781 frs-core:ShareCapital 2023-12-31 13668781 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13668781 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 13668781
Aceve UK 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: 13668781
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 57,745 36,487
Cash at bank and in hand 67,809 14,873
125,554 51,360
Creditors: Amounts Falling Due Within One Year 5 (99,700 ) (42,659 )
NET CURRENT ASSETS (LIABILITIES) 25,854 8,701
TOTAL ASSETS LESS CURRENT LIABILITIES 25,854 8,701
NET ASSETS 25,854 8,701
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 25,853 8,700
SHAREHOLDERS' FUNDS 25,854 8,701
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 Johan Jarskog
Director
20/05/2025
The notes on pages 2 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Aceve UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13668781 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. They are prepared in accordance with the FRS 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 is dependent on the support of its shareholders to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. 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.
2.5. Financial Instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.6. 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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2.7. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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. Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are
subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
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. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
2.12 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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the period was as follows: 4 (2023: 2)
4 2
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4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,325 7,200
Prepayments and accrued income 28,400 21,639
Deposits 3,838 1,758
VAT 10,443 5,425
Amounts owed by group undertakings 10,739 465
57,745 36,487
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,599 7,477
Corporation tax 5,885 2,625
Other taxes and social security 6,354 4,517
Other creditors 1,235 1,050
Accruals and deferred income 12,187 5,769
Amounts owed to group undertakings 71,440 21,221
99,700 42,659
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
7. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 12,000 9,922
Later than one year and not later than five years 10,367 -
22,367 9,922
8. Dividends
No dividends have been paid or proposed in the current or prior year.
9. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
10. Ultimate Controlling Party
The company's ultimate controlling party is Next One Technology Intressenter AB by virtue of the ownership of 100% of the issued share capital in the company.
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11. Audit Information
The auditor's report on the accounts of Aceve UK 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
Chartered Accountants
114 St Martin’s Lane
Covent Garden
London
WC2N 4BE
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