Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13815702 Mr Khurram SAYEED Mr Naser Abdulmohsen MOHAMMAD ALMARRI Mr Simon Charles HENRY Mr Richard Paul WYNN Mr Syed Kashif Zafar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13815702 2023-12-31 13815702 2024-12-31 13815702 2024-01-01 2024-12-31 13815702 frs-core:CurrentFinancialInstruments 2024-12-31 13815702 frs-core:Non-currentFinancialInstruments 2024-12-31 13815702 frs-core:ComputerEquipment 2024-12-31 13815702 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13815702 frs-core:ComputerEquipment 2023-12-31 13815702 frs-core:ShareCapital 2024-12-31 13815702 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13815702 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13815702 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13815702 frs-bus:SmallEntities 2024-01-01 2024-12-31 13815702 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13815702 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13815702 frs-bus:Director1 2024-01-01 2024-12-31 13815702 frs-bus:Director2 2024-01-01 2024-12-31 13815702 frs-bus:Director3 2024-01-01 2024-12-31 13815702 frs-bus:Director4 2024-01-01 2024-12-31 13815702 frs-bus:Director5 2024-01-01 2024-12-31 13815702 frs-countries:EnglandWales 2024-01-01 2024-12-31 13815702 2022-12-31 13815702 2023-12-31 13815702 2023-01-01 2023-12-31 13815702 frs-core:CurrentFinancialInstruments 2023-12-31 13815702 frs-core:Non-currentFinancialInstruments 2023-12-31 13815702 frs-core:ShareCapital 2023-12-31 13815702 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 13815702
NCM Financial UK Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
SKZ Chartered Certified Accountants
Unit 1,Kataria Point,
1 Riches Road,
Ilford
Essex
IG1 1JH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13815702
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,144 3,630
38,144 3,630
CURRENT ASSETS
Debtors 5 63,197 -
Cash at bank and in hand 3,664,931 1,041,406
3,728,128 1,041,406
Creditors: Amounts Falling Due Within One Year 6 (36,335 ) (7,312 )
NET CURRENT ASSETS (LIABILITIES) 3,691,793 1,034,094
TOTAL ASSETS LESS CURRENT LIABILITIES 3,729,937 1,037,724
Creditors: Amounts Falling Due After More Than One Year 7 (1,039,000 ) (1,248,900 )
NET ASSETS/(LIABILITIES) 2,690,937 (211,176 )
CAPITAL AND RESERVES
Called up share capital 8 3,750,000 100
Profit and Loss Account (1,059,063 ) (211,276 )
SHAREHOLDERS' FUNDS 2,690,937 (211,176)
Page 1
Page 2
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 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 Khurram SAYEED
Director
18/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
NCM Financial UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13815702 . The registered office is Liverpool Street - 35 New Broad Street, Offices 121 And 122,, London, England, EC2M 1NH.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Company's results are in line with projections and forecast for the initial years and with FCA expectaions.
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.
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. 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:
Computer Equipment Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 6)
8 6
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 4,347
Additions 42,964
As at 31 December 2024 47,311
Depreciation
As at 1 January 2024 717
Provided during the period 8,450
As at 31 December 2024 9,167
Net Book Value
As at 31 December 2024 38,144
As at 1 January 2024 3,630
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 63,197 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 25,497 4,912
Accruals and deferred income 10,838 2,400
36,335 7,312
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 1,039,000 288,900
Amounts owed to other participating interests - 960,000
1,039,000 1,248,900
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3,750,000 100
Page 4