Acorah Software Products - Accounts Production 16.3.350 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 07688023 Mr Mark Purvis Mr Lawrence Gould Mr Thomas Mitchell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07688023 2023-06-30 07688023 2024-06-30 07688023 2023-07-01 2024-06-30 07688023 frs-core:CurrentFinancialInstruments 2024-06-30 07688023 frs-core:Non-currentFinancialInstruments 2024-06-30 07688023 frs-core:BetweenOneFiveYears 2024-06-30 07688023 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 07688023 frs-core:OtherResidualIntangibleAssets 2024-06-30 07688023 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 07688023 frs-core:OtherResidualIntangibleAssets 2023-06-30 07688023 frs-core:PlantMachinery 2024-06-30 07688023 frs-core:PlantMachinery 2023-07-01 2024-06-30 07688023 frs-core:PlantMachinery 2023-06-30 07688023 frs-core:WithinOneYear 2024-06-30 07688023 frs-core:CapitalRedemptionReserve 2024-06-30 07688023 frs-core:SharePremium 2024-06-30 07688023 frs-core:ShareCapital 2024-06-30 07688023 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 07688023 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07688023 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 07688023 frs-bus:SmallEntities 2023-07-01 2024-06-30 07688023 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07688023 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07688023 frs-core:ListedExchangeTraded 2024-06-30 07688023 frs-core:ListedExchangeTraded 2023-06-30 07688023 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-06-30 07688023 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-06-30 07688023 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-06-30 07688023 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-06-30 07688023 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-06-30 07688023 frs-bus:Director1 2023-07-01 2024-06-30 07688023 frs-bus:Director2 2023-07-01 2024-06-30 07688023 frs-bus:Director3 2023-07-01 2024-06-30 07688023 frs-countries:EnglandWales 2023-07-01 2024-06-30 07688023 2022-06-30 07688023 2023-06-30 07688023 2022-07-01 2023-06-30 07688023 frs-core:CurrentFinancialInstruments 2023-06-30 07688023 frs-core:Non-currentFinancialInstruments 2023-06-30 07688023 frs-core:BetweenOneFiveYears 2023-06-30 07688023 frs-core:MoreThanFiveYears 2023-06-30 07688023 frs-core:WithinOneYear 2023-06-30 07688023 frs-core:CapitalRedemptionReserve 2023-06-30 07688023 frs-core:SharePremium 2023-06-30 07688023 frs-core:ShareCapital 2023-06-30 07688023 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 07688023
Mission Digital Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07688023
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 639,761 483,475
Tangible Assets 5 447,347 682,741
Investments 6 8,598 12,890
1,095,706 1,179,106
CURRENT ASSETS
Stocks - 11,851
Debtors 7 184,570 242,731
Cash at bank and in hand 276,588 129,352
461,158 383,934
Creditors: Amounts Falling Due Within One Year 8 (454,840 ) (475,873 )
NET CURRENT ASSETS (LIABILITIES) 6,318 (91,939 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,102,024 1,087,167
Creditors: Amounts Falling Due After More Than One Year 9 (1,046,156 ) (364,848 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,364 ) (8,364 )
NET ASSETS 47,504 713,955
CAPITAL AND RESERVES
Called up share capital 11 10,309 10,309
Share premium account 49,644 49,644
Capital redemption reserve 2 2
Profit and Loss Account (12,451 ) 654,000
SHAREHOLDERS' FUNDS 47,504 713,955
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For the year ending 30 June 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 Mark Purvis
Director
10 July 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mission Digital Limited is a private company, limited by shares, incorporated in England & Wales, registration number 07688023. The registered office is Unit 16, Townsend Industrial Estate, Waxlow Road, London, NW10 7NU
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The following principal accounting policies have been applied:
2.2. Going Concern Disclosure
At the time of signing these accounts in July 2025, material uncertainty exists over the Company's ability to meet its financial obligations without further funding. In order to mitigate this doubt, at the time of signing, management are negotiating terms to raise this further funding. Management are confident in a positive outcome , which would address this material uncertainly. 
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & Machinery 20%
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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2.8. Financial Instruments
The Company only enters into basic financial instrument 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 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 in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost,
unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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 objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
2.9. Foreign Currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.10. Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2.11. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.12. Finance Costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
2.13. Leased Assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2.14. Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 21)
19 21
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4. Intangible Assets
Patents
£
Cost
As at 1 July 2023 483,475
Additions 156,286
As at 30 June 2024 639,761
Net Book Value
As at 30 June 2024 639,761
As at 1 July 2023 483,475
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 1,750,069
Additions 6,481
As at 30 June 2024 1,756,550
Depreciation
As at 1 July 2023 1,067,328
Provided during the period 241,875
As at 30 June 2024 1,309,203
Net Book Value
As at 30 June 2024 447,347
As at 1 July 2023 682,741
The net book value of tangible fixed assets held under finance leases at the year end is £77,347 (2023 -£103,377)
6. Investments
Listed
£
Cost
As at 1 July 2023 12,890
As at 30 June 2024 12,890
Provision
As at 1 July 2023 -
Added in period 4,292
As at 30 June 2024 4,292
Net Book Value
As at 30 June 2024 8,598
As at 1 July 2023 12,890
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 53,608 55,790
Prepayments and accrued income 89,461 92,452
Other debtors 31,238 78,779
Amounts owed by group undertakings 10,263 15,710
184,570 242,731
Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 96,745 96,745
Trade creditors 92,750 89,687
Bank loans and overdrafts 40,000 40,000
Other loans 97,737 97,737
Other taxes and social security 48,606 30,169
VAT 55,278 50,003
Other creditors 12,099 64,207
Accruals and deferred income 11,625 7,325
454,840 475,873
Details of the bank and other loans are included in note 8 & 9.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 86,121 159,295
Bank loans 44,444 80,000
Other loans 845,758 125,553
VAT 69,833 -
1,046,156 364,848
The amount owed under finance leases are secured over the assets they were used to acquire. Details of the bank and other loans are included in note 8 & 9.
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 96,745 96,745
Later than one year and not later than five years 86,121 85,301
Later than five years - 73,994
182,866 256,040
182,866 256,040
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,309 10,309
12. Other Commitments
At 30 June 2024 the Company had future minimum lease payments under non-cancellable operating leases as follows:
2024 2023
£ £
Not later than one year 137,098 -
Later than one year and not later than five years 146,620 -
283,718 -
13. Pension Commitments
The Company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £20,755 (2023- £21,948). The amount payable to the fund at the balance sheet date was £4,928 (2023- £6,443).
14. Related Party Transactions
At the year end, the Directors owed the Company £1,065 (2023 - £268 owed to Directors). The amounts are unsecured, interest-free and repayable on demand.
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