Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07015959 G Dormer P Dormer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07015959 2023-12-31 07015959 2024-12-31 07015959 2024-01-01 2024-12-31 07015959 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07015959 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07015959 frs-core:NetGoodwill 2024-01-01 2024-12-31 07015959 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 07015959 frs-core:MotorVehicles 2024-01-01 2024-12-31 07015959 frs-core:PlantMachinery 2024-01-01 2024-12-31 07015959 frs-core:ShareCapital 2024-12-31 07015959 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07015959 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07015959 frs-bus:AbridgedAccounts 2024-01-01 2024-12-31 07015959 frs-bus:SmallEntities 2024-01-01 2024-12-31 07015959 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07015959 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07015959 frs-bus:Director1 2024-01-01 2024-12-31 07015959 frs-bus:Director1 2023-12-31 07015959 frs-bus:Director1 2024-12-31 07015959 frs-bus:Director2 2024-01-01 2024-12-31 07015959 frs-countries:EnglandWales 2024-01-01 2024-12-31 07015959 2022-12-31 07015959 2023-12-31 07015959 2023-01-01 2023-12-31 07015959 frs-core:ShareCapital 2023-12-31 07015959 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07015959
Spacio Ltd.
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 07015959
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,400 -
Tangible Assets 5 49,234 62,392
51,634 62,392
CURRENT ASSETS
Stocks 850 -
Debtors 1,902,598 1,995,393
Cash at bank and in hand 484,390 972,285
2,387,838 2,967,678
Creditors: Amounts Falling Due Within One Year (409,694 ) (924,894 )
NET CURRENT ASSETS (LIABILITIES) 1,978,144 2,042,784
TOTAL ASSETS LESS CURRENT LIABILITIES 2,029,778 2,105,176
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,309 ) (11,919 )
NET ASSETS 2,017,469 2,093,257
CAPITAL AND RESERVES
Called up share capital 6 200 200
Profit and Loss Account 2,017,269 2,093,057
SHAREHOLDERS' FUNDS 2,017,469 2,093,257
Page 1
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For the year ending 31 December 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
G Dormer
Director
6th June 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Spacio Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 07015959 . The registered office is 12 Beehive Business Centre, Beehive Lane, Chelmsford , Essex, CM2 9TE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting 
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies 
Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of 
section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true 
and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary 
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the 
revaluation of freehold properties and to include investment properties and certain financial instruments at fair 
value.
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is 
the present value of the future receipts. The difference between the fair value of the consideration and the 
nominal amount received is recognised as interest income
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
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:
Leasehold 6 years straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale 
proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to 
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 
there is a legally 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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in 
profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are 
attributable to the hedged risk.
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 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.
2.9. 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. Leases
 Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 
on a straight line basis over the term of the relevant lease except where another more systematic basis is 
more representative of the time pattern in which economic benefits from the leases asset are consumed.
2.11. Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the 
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in 
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising 
on translation in the period are included in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 12)
14 12
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4. Intangible Assets
Total
£
Cost
As at 1 January 2024 835,000
Additions 3,000
As at 31 December 2024 838,000
Amortisation
As at 1 January 2024 835,000
Provided during the period 600
As at 31 December 2024 835,600
Net Book Value
As at 31 December 2024 2,400
As at 1 January 2024 -
5. Tangible Assets
Total
£
Cost
As at 1 January 2024 130,503
Additions 7,294
Disposals (9,008 )
As at 31 December 2024 128,789
Depreciation
As at 1 January 2024 68,111
Provided during the period 14,687
Disposals (3,243 )
As at 31 December 2024 79,555
Net Book Value
As at 31 December 2024 49,234
As at 1 January 2024 62,392
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Glen Dormer 225,547 98,073 - - 323,620
The above loan is unsecured, interest is charged at the effective rate and the loan is repayable on demand.
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