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Registered number: 13182260
CRED SERVICES LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 13182260
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 2,884 141,099
Cash at bank and in hand 2,931 931
5,815 142,030
Creditors: Amounts Falling Due Within One Year 5 (2,245 ) (139,148 )
NET CURRENT ASSETS (LIABILITIES) 3,570 2,882
TOTAL ASSETS LESS CURRENT LIABILITIES 3,570 2,882
NET ASSETS 3,570 2,882
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 3,470 2,782
SHAREHOLDERS' FUNDS 3,570 2,882
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
J Carr-Harris
Director
23/06/2025
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
CRED SERVICES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13182260 . The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
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 financial statements have been prepared on the going concern basis. The company incurred losses during the year, however, the parent company will continue to support the company to meet its obligations if and when they fall due. On this basis, the director is of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements
2.3. Significant judgements and estimations
There have been no significant judgements or estimates applied to the numbers contained within these financial statements.
2.4. 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.
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.
2.5. Financial Instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of 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 from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently,at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. 
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position 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
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each reporting period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate
when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement
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Page 3
2.7. 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.
2.8. Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less
2.9. Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 140,000
Amounts owed by group undertakings 2,884 1,099
2,884 141,099
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 136,965
Other creditors 1,900 2,000
Taxation and social security 345 183
2,245 139,148
6. Parent-subsidiary relationships
The immediate and ultimate parent company is Cred Investment Holdings Ltd, a company incorporated in England and Wales, with its registered office situated at 71-75 Shelton Street, London, WC2H 9JQ. Cred Investment Holdings Limited is exempt from preparing consolidated financial statements under Section 399(2a) of the Companies Act 2006, therefore the results of the company are not included in any consolidated financial statements for the group
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