Acorah Software Products - Accounts Production 16.3.350 false true true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 10490938 Mr Simon Craddock Mr John Walsh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10490938 2024-03-31 10490938 2025-03-31 10490938 2024-04-01 2025-03-31 10490938 frs-core:CurrentFinancialInstruments 2025-03-31 10490938 frs-core:Non-currentFinancialInstruments 2025-03-31 10490938 frs-core:ComputerEquipment 2025-03-31 10490938 frs-core:ComputerEquipment 2024-04-01 2025-03-31 10490938 frs-core:ComputerEquipment 2024-03-31 10490938 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 10490938 frs-core:FurnitureFittings 2025-03-31 10490938 frs-core:FurnitureFittings 2024-04-01 2025-03-31 10490938 frs-core:FurnitureFittings 2024-03-31 10490938 frs-core:NetGoodwill 2025-03-31 10490938 frs-core:NetGoodwill 2024-04-01 2025-03-31 10490938 frs-core:NetGoodwill 2024-03-31 10490938 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 10490938 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 10490938 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 10490938 frs-core:OtherResidualIntangibleAssets 2025-03-31 10490938 frs-core:OtherResidualIntangibleAssets 2024-04-01 2025-03-31 10490938 frs-core:OtherResidualIntangibleAssets 2024-03-31 10490938 frs-core:RevaluationReserve 2024-03-31 10490938 frs-core:RevaluationReserve 2025-03-31 10490938 frs-core:ShareCapital 2025-03-31 10490938 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 10490938 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10490938 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 10490938 frs-bus:SmallEntities 2024-04-01 2025-03-31 10490938 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10490938 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10490938 frs-bus:Director1 2024-04-01 2025-03-31 10490938 frs-bus:Director2 2024-04-01 2025-03-31 10490938 frs-countries:EnglandWales 2024-04-01 2025-03-31 10490938 2023-03-31 10490938 2024-03-31 10490938 2023-04-01 2024-03-31 10490938 frs-core:CurrentFinancialInstruments 2024-03-31 10490938 frs-core:Non-currentFinancialInstruments 2024-03-31 10490938 frs-core:RevaluationReserve 2024-03-31 10490938 frs-core:ShareCapital 2024-03-31 10490938 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 10490938
On Sight Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
EAM London Limited
Chartered Tax Accountants
215-221 Borough High Street
London
SE1 1JA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10490938
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 458,272 620,325
Tangible Assets 5 199,641 374,626
657,913 994,951
CURRENT ASSETS
Debtors 6 871,556 1,051,161
Cash at bank and in hand 9,411 -
880,967 1,051,161
Creditors: Amounts Falling Due Within One Year 7 (897,542 ) (841,754 )
NET CURRENT ASSETS (LIABILITIES) (16,575 ) 209,407
TOTAL ASSETS LESS CURRENT LIABILITIES 641,338 1,204,358
Creditors: Amounts Falling Due After More Than One Year 8 (1,503,000 ) (1,698,794 )
NET LIABILITIES (861,662 ) (494,436 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 412,855 412,855
Profit and Loss Account (1,274,617 ) (907,391 )
SHAREHOLDERS' FUNDS (861,662) (494,436)
Page 1
Page 2
For the year ending 31 March 2025 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 Simon Craddock
Director
27/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
On Sight Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10490938 . The registered office is 34-35 Bedfordbury, London, WC2N 4DU.
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 Actors and Writers strikes in the US and the subsequent downturn in production across the film and television sector in the UK affected post-production. This is bouncing back for OnSight notably in our specialist areas of Giant Screen and music post. The directors can confirm that the credit position is manageable and the balance sheet is underwritten by its investors.
In terms of EBITDA, the business broke even in the year ended March 2025 and is currently trading at a strong EBITDA mid-way through the year ending March 2026.
This represents a strong turnaround from the year ended March 2024, with March 2026 looking significantly better.
2.3. 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.
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.
2.4. 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 of 10 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Film Rights and Portal Development. It is amortised to profit and loss account over its estimated economic life of 5-10 years.
2.6. 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 Straight line 3-5 years
Fixtures & Fittings Straight line 3-5 years
Computer Equipment Straight line 3-5 years
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2024: 27)
26 27
Page 3
Page 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2024 659,285 1,027,448 1,686,733
Additions - 55,510 55,510
As at 31 March 2025 659,285 1,082,958 1,742,243
Amortisation
As at 1 April 2024 480,725 585,683 1,066,408
Provided during the period 65,928 151,635 217,563
As at 31 March 2025 546,653 737,318 1,283,971
Net Book Value
As at 31 March 2025 112,632 345,640 458,272
As at 1 April 2024 178,560 441,765 620,325
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 51,145 686,994 1,384,217 2,122,356
Additions 3,800 25,212 - 29,012
As at 31 March 2025 54,945 712,206 1,384,217 2,151,368
Depreciation
As at 1 April 2024 13,141 510,329 1,224,260 1,747,730
Provided during the period 10,863 96,238 96,896 203,997
As at 31 March 2025 24,004 606,567 1,321,156 1,951,727
Net Book Value
As at 31 March 2025 30,941 105,639 63,061 199,641
As at 1 April 2024 38,004 176,665 159,957 374,626
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 762,966 416,817
Prepayments and accrued income 76,090 601,844
Other debtors 32,500 32,500
871,556 1,051,161
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 247,414 414,262
Bank loans and overdrafts - 58,767
Other taxes and social security 81,660 99,451
VAT 192,525 53,535
Other creditors 15,253 67,315
Accruals and deferred income 360,690 148,424
897,542 841,754
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 125,902
Other creditors 203,000 203,000
Amounts owed to parent undertaking 1,300,000 1,369,892
1,503,000 1,698,794
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
As at 1 April 2024 412,855
As at 31 March 2025 412,855
Page 5