Acorah Software Products - Accounts Production 16.2.850 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 10221124 Mr Cristiano Visocchi the director false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10221124 2023-12-31 10221124 2024-12-31 10221124 2024-01-01 2024-12-31 10221124 frs-core:CurrentFinancialInstruments 2024-12-31 10221124 frs-core:Non-currentFinancialInstruments 2024-12-31 10221124 frs-core:ComputerEquipment 2024-12-31 10221124 frs-core:ComputerEquipment 2024-01-01 2024-12-31 10221124 frs-core:ComputerEquipment 2023-12-31 10221124 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 10221124 frs-core:FurnitureFittings 2024-12-31 10221124 frs-core:FurnitureFittings 2024-01-01 2024-12-31 10221124 frs-core:FurnitureFittings 2023-12-31 10221124 frs-core:OtherResidualIntangibleAssets 2024-12-31 10221124 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 10221124 frs-core:OtherResidualIntangibleAssets 2023-12-31 10221124 frs-core:PlantMachinery 2024-12-31 10221124 frs-core:PlantMachinery 2024-01-01 2024-12-31 10221124 frs-core:PlantMachinery 2023-12-31 10221124 frs-core:ShareCapital 2024-12-31 10221124 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10221124 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10221124 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10221124 frs-bus:SmallEntities 2024-01-01 2024-12-31 10221124 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10221124 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10221124 1 2024-01-01 2024-12-31 10221124 frs-bus:Director1 2024-01-01 2024-12-31 10221124 frs-core:CurrentFinancialInstruments 1 2024-12-31 10221124 frs-countries:EnglandWales 2024-01-01 2024-12-31 10221124 2022-12-31 10221124 2023-12-31 10221124 2023-01-01 2023-12-31 10221124 frs-core:CurrentFinancialInstruments 2023-12-31 10221124 frs-core:Non-currentFinancialInstruments 2023-12-31 10221124 frs-core:ShareCapital 2023-12-31 10221124 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10221124 frs-core:CurrentFinancialInstruments 1 2023-12-31 10221124 frs-core:CurrentFinancialInstruments 4 2023-12-31
Registered number: 10221124
Fresco London Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10221124
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,000 21,000
Tangible Assets 5 214 439
15,214 21,439
CURRENT ASSETS
Stocks 6 5,500 6,200
Debtors 7 71,378 79,502
Cash at bank and in hand 14,065 53,054
90,943 138,756
Creditors: Amounts Falling Due Within One Year 8 (144,232 ) (170,318 )
NET CURRENT ASSETS (LIABILITIES) (53,289 ) (31,562 )
TOTAL ASSETS LESS CURRENT LIABILITIES (38,075 ) (10,123 )
Creditors: Amounts Falling Due After More Than One Year 9 (43,333 ) (83,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41 ) (83 )
NET LIABILITIES (81,449 ) (93,539 )
CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Profit and Loss Account (101,449 ) (113,539 )
SHAREHOLDERS' FUNDS (81,449) (93,539)
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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 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 Profit and Loss Account.
On behalf of the board
Mr Cristiano Visocchi
Director
27/06/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fresco London Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10221124 . The registered office is 19 The Circle , Queen Elizabeth Street, London, SE1 2JE.
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
At the balance sheet date the company had net liabilities and it is dependent on the continuing support of the parent company. The parent company has confirmed its support and thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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 - Other Intangible
The Intangible asset is a License. It is  amortised to profit and loss account over its estimated economic life of 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:
Plant & Machinery 25% SLM
Fixtures & Fittings 25% SLM
Office Equipment 25% SLM
2.6. 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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2.7. Financial Instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost. 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 arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest.
Subsequent measurement is at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised.
2.8. 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.
2.9. 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.
2.10. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
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4. Intangible Assets
Other
£
Cost
As at 1 January 2024 30,000
As at 31 December 2024 30,000
Amortisation
As at 1 January 2024 9,000
Provided during the period 6,000
As at 31 December 2024 15,000
Net Book Value
As at 31 December 2024 15,000
As at 1 January 2024 21,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Office Equipment Total
£ £ £ £
Cost
As at 1 January 2024 74,395 10,735 902 86,032
As at 31 December 2024 74,395 10,735 902 86,032
Depreciation
As at 1 January 2024 74,395 10,735 463 85,593
Provided during the period - - 225 225
As at 31 December 2024 74,395 10,735 688 85,818
Net Book Value
As at 31 December 2024 - - 214 214
As at 1 January 2024 - - 439 439
6. Stocks
2024 2023
£ £
Materials 5,500 6,200
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 33,975 37,378
Deposits - 2,000
Amounts owed by group undertakings 37,403 40,124
71,378 79,502
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,050 44,229
Bank loans and overdrafts 40,000 40,000
PAYE 4,227 8,719
VAT 18,432 25,168
Pension 2,635 3,814
Accruals and deferred income - 3,702
Director's loan account 4,936 4,936
Amounts owed to related parties 38,952 39,750
144,232 170,318
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 43,333 83,333
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20,000 20,000
11. Related Party Transactions
The following amounts between related parties are due at the year-end:
Company due to
Company due from
2024
2023
Drav London
Fresco London
£38,952
£39,750
Fresco London
Fresco Mercati
£37,403
£40,124
12. Controlling Party
The company's immediate and parent undertaking is Drav London Ltd. Drav London Ltd was incorporated in England. The
controlling party is the director who indirectly controls 10% of the shares of Fresco London ltd.
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