Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 4 June 2025 1 January 2024 31 December 2024 31 December 2024 08990465 Mrs Anni Ahonen-Bishopp Mrs Heidi Eliasson Mr Mats Grahn BC Platforms AG Spaces Bleicherweg 10, 8002 Zurich true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08990465 2023-12-31 08990465 2024-12-31 08990465 2024-01-01 2024-12-31 08990465 frs-core:CurrentFinancialInstruments 2024-12-31 08990465 frs-core:ComputerEquipment 2024-12-31 08990465 frs-core:ComputerEquipment 2024-01-01 2024-12-31 08990465 frs-core:ComputerEquipment 2023-12-31 08990465 frs-core:ShareCapital 2024-12-31 08990465 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08990465 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08990465 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08990465 frs-bus:SmallEntities 2024-01-01 2024-12-31 08990465 frs-bus:Audited 2024-01-01 2024-12-31 08990465 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08990465 1 2024-01-01 2024-12-31 08990465 frs-bus:Director1 2024-01-01 2024-12-31 08990465 frs-bus:Director2 2024-01-01 2024-12-31 08990465 frs-bus:Director3 2024-01-01 2024-12-31 08990465 frs-countries:EnglandWales 2024-01-01 2024-12-31 08990465 2022-12-31 08990465 2023-12-31 08990465 2023-01-01 2023-12-31 08990465 frs-core:CurrentFinancialInstruments 2023-12-31 08990465 frs-core:ShareCapital 2023-12-31 08990465 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 08990465
BC Platforms UK Ltd
Financial Statements
For The Year Ended 31 December 2024
Goodwille Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 08990465
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,159 6,631
6,159 6,631
CURRENT ASSETS
Debtors 5 429,816 546,873
Cash at bank and in hand 19,600 108,413
449,416 655,286
Creditors: Amounts Falling Due Within One Year 6 (161,877 ) (340,483 )
NET CURRENT ASSETS (LIABILITIES) 287,539 314,803
TOTAL ASSETS LESS CURRENT LIABILITIES 293,698 321,434
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,540 ) (1,658 )
NET ASSETS 292,158 319,776
CAPITAL AND RESERVES
Called up share capital 7 198,741 198,741
Profit and Loss Account 93,417 121,035
SHAREHOLDERS' FUNDS 292,158 319,776
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 Mats Grahn
Director
04/06/2025
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
BC Platforms UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08990465 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
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 incurred a net loss of £27,618 during the year ended 31 December 2024. The Company has obtained the financial support letter from the parent company (BC Platforms AG  Zurich) for 12 months from the date of the financial statements authorisation. This letter confirms that the parent company will provide where needed the necessary support so that the Company can meet its commitments and continue its business under normal conditions. However, we draw attention to the following note on going concern in the report of the statutory auditor on the limited statutory examination of BC Platforms AG Zurich financial statements for the year ended 31 December 2024:
The Management continues to have a reasonable expectation that the company has adequate resources to continue as a going concern for at least the next 12 months.
The appropriateness of the company's ability to continue as going concern, is dependent on the availability of sufficient liquidity to finance the company’s on-going operations. As the group, in its current stage, does not generate sufficient operating cash inflows, a material uncertainty exists that may cast doubt about the company’s ability to continue as a going concern.
The shareholders have provided the company with liquidity for working capital requirements. On the extraordinary shareholders' meeting on the 28 May 2024, shareholders decided to grant a convertible loan of CHF 4'700'000 to strengthen the Company's cash position. Shareholders also executed a financing round of CHF 10.9M in Q4 2024 to cover its cash needs over the next 12 months and has executed reduction in force and other cost saving measurements to cut operations expenses by CHF 1.6M in FY2025 in the group and the company. The company and the group have further implemented a reduction in headcount during Q1 in 2025 in both the company and the group.
Based on these factors, management has a reasonable expectation that the group and the company itself have adequate liquidity and resources to continue as a going concern.
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 is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover comprises costs recharged in accordance with the underlying agreement.
Grant Income
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.
2.5. 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:
Computer Equipment 33% Straight Line
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2.6. Financial Instruments
Financial assets
Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost, less any impairment.
Financial liabilities and equity
Financial liabilities and equity are classified according to the substance of the financial instrument’s contractual obligations, rather than the financial instrument’s legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.7. 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.
2.8. 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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Debtors
Basic financial assets, including trade and other debtors, are intially 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.
2.11. 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.
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2.12. 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 year was as follows: 9 (2023: 10)
9 10
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 14,386
Additions 4,034
As at 31 December 2024 18,420
Depreciation
As at 1 January 2024 7,755
Provided during the period 4,506
As at 31 December 2024 12,261
Net Book Value
As at 31 December 2024 6,159
As at 1 January 2024 6,631
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 407,532 543,549
Prepayments and accrued income - 1,126
Corporation tax recoverable assets 8,609 -
VAT 13,675 2,198
429,816 546,873
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,448 2,233
Bank loans and overdrafts - 64
Corporation tax - 9,801
Other taxes and social security 36,118 48,092
Other creditors 5,842 -
Accruals and deferred income 60,069 184,470
Amounts owed to group undertakings 46,400 95,823
161,877 340,483
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 198,741 198,741
8. Dividends
No dividends were proposed or paid during 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 Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is BC Platforms AG . BC Platforms AG was incorporated in Switzerland. Copies of the group accounts may be obtained from the secretary, Spaces Bleicherweg 10, 8002 Zurich . The ultimate controlling party is BC Platforms AG who controls 100% of the shares of BC Platforms UK Ltd .
11. Audit Information
The auditor's report on the accounts of BC Platforms UK Ltd for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Peter Smith, FCA (Senior Statutory Auditor) for and on behalf of Constantin , Statutory Auditor.
Constantin
Chartered Accountants and Statutory Auditor
25 Hosier Lane
London
EC1A 9LQ
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