Acorah Software Products - Accounts Production 16.3.350 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 04742476 Mr William Halbert Mr Duncan McLean Mr Stephen Swallow Professor Sir Nigel Shadbolt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04742476 2023-09-30 04742476 2024-09-30 04742476 2023-10-01 2024-09-30 04742476 frs-core:CurrentFinancialInstruments 2024-09-30 04742476 frs-core:ComputerEquipment 2023-10-01 2024-09-30 04742476 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-09-30 04742476 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-10-01 2024-09-30 04742476 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-09-30 04742476 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 04742476 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 04742476 frs-core:FurnitureFittings 2023-10-01 2024-09-30 04742476 frs-core:PlantMachinery 2024-09-30 04742476 frs-core:PlantMachinery 2023-10-01 2024-09-30 04742476 frs-core:PlantMachinery 2023-09-30 04742476 frs-core:CapitalRedemptionReserve 2024-09-30 04742476 frs-core:OtherReservesSubtotal 2024-09-30 04742476 frs-core:ShareCapital 2024-09-30 04742476 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 04742476 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04742476 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 04742476 frs-bus:SmallEntities 2023-10-01 2024-09-30 04742476 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 04742476 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04742476 frs-bus:Director1 2023-10-01 2024-09-30 04742476 frs-bus:Director2 2023-10-01 2024-09-30 04742476 frs-bus:Director3 2023-10-01 2024-09-30 04742476 frs-bus:Director4 2023-10-01 2024-09-30 04742476 frs-countries:EnglandWales 2023-10-01 2024-09-30 04742476 2022-09-30 04742476 2023-09-30 04742476 2022-10-01 2023-09-30 04742476 frs-core:CurrentFinancialInstruments 2023-09-30 04742476 frs-core:CapitalRedemptionReserve 2023-09-30 04742476 frs-core:OtherReservesSubtotal 2023-09-30 04742476 frs-core:ShareCapital 2023-09-30 04742476 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 04742476
Tacit Connexions Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Accounting Partnership Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 04742476
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2 2
Tangible Assets 5 2,632 3,509
2,634 3,511
CURRENT ASSETS
Debtors 6 121 311
Cash at bank and in hand 12,562 12,122
12,683 12,433
Creditors: Amounts Falling Due Within One Year 7 (1,175 ) (1,000 )
NET CURRENT ASSETS (LIABILITIES) 11,508 11,433
TOTAL ASSETS LESS CURRENT LIABILITIES 14,142 14,944
NET ASSETS 14,142 14,944
CAPITAL AND RESERVES
Called up share capital 8 810 810
Capital redemption reserve 185 185
Other reserves 142,550 138,050
Profit and Loss Account (129,403 ) (124,101 )
SHAREHOLDERS' FUNDS 14,142 14,944
For the year ending 30 September 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.
On behalf of the board
Mr Duncan McLean
Director
12/06/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Tacit Connexions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04742476 . The registered office is 22 Sparrow Close, Wokingham, RG41 3HT.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company is dependent on the continued support of its directors for the financing of its day to day working capital. The directors do not intend to withdraw that support within the foreseeable future and are of the opinion that it is appropriate to prepare the accounts on a going concern basis.
2.3. Research and Development
The company’s novel advanced hybrid AI software platform that uniquely combines Machine Reasoning and Machine Learning (without the need for expensive, power-hungry and processing-intensive Large Language Models being developed) has been the basis for engaging in discussions with potential acquirers of the proprietary IP on which the platform and tools are based.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets (licenses and patents), bought by the company at cost in 2009-2010 was
amortised over 5 years
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:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
3. Average Number of Employees
Average number of employees, during the year was as follows: 1 (2023: 2)
1 2
4. Intangible Assets
Development Costs Intellectual Property Total
£ £ £
Cost
As at 1 October 2023 96,395 51,187 147,582
As at 30 September 2024 96,395 51,187 147,582
Amortisation
As at 1 October 2023 96,394 51,186 147,580
As at 30 September 2024 96,394 51,186 147,580
Net Book Value
As at 30 September 2024 1 1 2
As at 1 October 2023 1 1 2
Page 2
Page 3
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 October 2023 6,609
As at 30 September 2024 6,609
Depreciation
As at 1 October 2023 3,100
Provided during the period 877
As at 30 September 2024 3,977
Net Book Value
As at 30 September 2024 2,632
As at 1 October 2023 3,509
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 121 311
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,174 1,000
Taxation and social security 1 -
1,175 1,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 810 810
On 28 September 2020, the shareholders passed a resolution to sub-divide the £1shares into £0.001 shares, thus converting the current issued 810 ordinary shares into 810,000 ordinary shares.
9. Reserves
The shareholder capital reserves are capital contributions to the company by two of its shareholders, the Estate of the late Nigel Flood £25,550 and Duncan McLean £117,000.
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