Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 29 March 2023 false 16 June 2025 1 January 2024 31 December 2024 31 December 2024 14765682 Mr Robert Chiti Jr Mr William Corbett Tania Miaoulis Mr Paul Beare true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14765682 2023-12-31 14765682 2024-12-31 14765682 2024-01-01 2024-12-31 14765682 frs-core:CurrentFinancialInstruments 2024-12-31 14765682 frs-core:Non-currentFinancialInstruments 2024-12-31 14765682 frs-core:ShareCapital 2024-12-31 14765682 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 14765682 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14765682 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 14765682 frs-bus:SmallEntities 2024-01-01 2024-12-31 14765682 frs-bus:Audited 2024-01-01 2024-12-31 14765682 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14765682 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 14765682 frs-bus:OrdinaryShareClass1 2024-12-31 14765682 1 2024-01-01 2024-12-31 14765682 frs-bus:Director1 2024-01-01 2024-12-31 14765682 frs-bus:Director2 2024-01-01 2024-12-31 14765682 frs-bus:Director3 2024-01-01 2024-12-31 14765682 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 14765682 frs-countries:EnglandWales 2024-01-01 2024-12-31 14765682 frs-countries:UnitedStates 2024-01-01 2024-12-31 14765682 2023-03-28 14765682 2023-12-31 14765682 2023-03-29 2023-12-31 14765682 frs-core:CurrentFinancialInstruments 2023-12-31 14765682 frs-core:Non-currentFinancialInstruments 2023-12-31 14765682 frs-core:ShareCapital 2023-12-31 14765682 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14765682 frs-bus:OrdinaryShareClass1 2023-03-29 2023-12-31
Registered number: 14765682
Opentech Alliance Europe Ltd
Financial Statements
For The Year Ended 31 December 2024
Paul Beare Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 14765682
31 December 2024 31 December 2023
Notes £ £ £ £
CURRENT ASSETS
Cash at bank and in hand 8,904 10,226
8,904 10,226
Creditors: Amounts Falling Due Within One Year 4 (15,432 ) (11,575 )
NET CURRENT ASSETS (LIABILITIES) (6,528 ) (1,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,528 ) (1,349 )
Creditors: Amounts Falling Due After More Than One Year 5 (239,415 ) (77,348 )
NET LIABILITIES (245,943 ) (78,697 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (246,043 ) (78,797 )
SHAREHOLDERS' FUNDS (245,943) (78,697)
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.
Mr Robert Chiti Jr
Director
16/06/2025
The notes on pages 2 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Opentech Alliance Europe Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14765682 . The registered office is 49 Greek Street, London, W1D 4EG.
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.
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. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
These financial statements show a net liability position of £245,943 at the balance sheet date.
The company is in the early stages of establishing itself in the UK market and as such is expected to be loss making for the foreseeable future. 
The company has reviewed its funding requirements and with the continued support of its parent company the company will be able to meet its liabilities and obligations as they fall due. 
The parent company has committed to providing ongoing support and as such, the loans due from the parent company are shown as a long term creditor. 
Based on the above assurances, these financial statements are prepared on the going concern basis. 
The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
2.3. Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.4. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.5. Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
2.6. Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
...CONTINUED
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2.6. Classification of financial liabilities - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Other creditors 10,240 10,875
Taxation and social security 5,192 700
15,432 11,575
5. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Amounts owed to group undertakings 239,415 77,348
6. Share Capital
31 December 2024 31 December 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
7. Related Party Disclosures
Remuneration of key management personnel
As the directors and key management personnel are deemed to be the same individuals, the company has taken advantage of the exemptions in FRS102 Section 33.7A.
Other information
The company has taken advantage of the disclosure exemptions in FRS102 Section 33.1A not to disclose transactions entered into between members of a group as the subsidiary is wholly owned by its parent.
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8. Controlling Parties
The ultimate parent undertaking is Opentech Alliance LLC, a company incorporated in United States whose registered office is 2101 W Peoria Avenue, Suite 100, Phoenix, Arizona, 85029 .
The directors are of the opinion that there is no one individual controlling party.
9. Audit Information
The auditor's report on the accounts of Opentech Alliance Europe Ltd for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Andrew Davis ACCA CTA FMAAT (Senior Statutory Auditor) for and on behalf of AMS Accountants Corporate Ltd , Statutory Auditor.
AMS Accountants Corporate Ltd
Floor 2
9 Portland Street
Manchester
M1 3BE
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