Acorah Software Products - Accounts Production 16.4.675 false true true 30 June 2023 1 July 2022 false 1 July 2023 31 December 2024 31 December 2024 07271196 Mr Robert White Mr Raj Oliver Mr John De Moraes Mr Richard Hughes true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07271196 2023-06-30 07271196 2024-12-31 07271196 2023-07-01 2024-12-31 07271196 frs-core:CurrentFinancialInstruments 2024-12-31 07271196 frs-core:Non-currentFinancialInstruments 2024-12-31 07271196 frs-core:ComputerEquipment 2024-12-31 07271196 frs-core:ComputerEquipment 2023-07-01 2024-12-31 07271196 frs-core:ComputerEquipment 2023-06-30 07271196 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-12-31 07271196 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-07-01 2024-12-31 07271196 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 07271196 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-12-31 07271196 frs-core:FurnitureFittings 2024-12-31 07271196 frs-core:FurnitureFittings 2023-07-01 2024-12-31 07271196 frs-core:FurnitureFittings 2023-06-30 07271196 frs-core:MotorVehicles 2024-12-31 07271196 frs-core:MotorVehicles 2023-07-01 2024-12-31 07271196 frs-core:MotorVehicles 2023-06-30 07271196 frs-core:OtherResidualIntangibleAssets 2024-12-31 07271196 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-12-31 07271196 frs-core:OtherResidualIntangibleAssets 2023-06-30 07271196 frs-core:PlantMachinery 2024-12-31 07271196 frs-core:PlantMachinery 2023-07-01 2024-12-31 07271196 frs-core:PlantMachinery 2023-06-30 07271196 frs-core:SharePremium 2024-12-31 07271196 frs-core:ShareCapital 2024-12-31 07271196 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07271196 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-12-31 07271196 frs-bus:FilletedAccounts 2023-07-01 2024-12-31 07271196 frs-bus:SmallEntities 2023-07-01 2024-12-31 07271196 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-12-31 07271196 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-12-31 07271196 frs-bus:OrdinaryShareClass1 2023-07-01 2024-12-31 07271196 frs-bus:OrdinaryShareClass1 2024-12-31 07271196 1 2023-07-01 2024-12-31 07271196 frs-bus:Director1 2023-07-01 2024-12-31 07271196 frs-bus:Director2 2023-07-01 2024-12-31 07271196 frs-bus:Director3 2023-07-01 2024-12-31 07271196 frs-bus:Director4 2023-07-01 2024-12-31 07271196 frs-core:CurrentFinancialInstruments 1 2024-12-31 07271196 frs-core:CurrentFinancialInstruments 2 2024-12-31 07271196 frs-core:Non-currentFinancialInstruments 2 2024-12-31 07271196 frs-countries:EnglandWales 2023-07-01 2024-12-31 07271196 2022-06-30 07271196 2023-06-30 07271196 2022-07-01 2023-06-30 07271196 frs-core:CurrentFinancialInstruments 2023-06-30 07271196 frs-core:Non-currentFinancialInstruments 2023-06-30 07271196 frs-core:SharePremium 2023-06-30 07271196 frs-core:ShareCapital 2023-06-30 07271196 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 07271196 frs-bus:OrdinaryShareClass1 2022-07-01 2023-06-30 07271196 frs-core:CurrentFinancialInstruments 1 2023-06-30 07271196 frs-core:CurrentFinancialInstruments 2 2023-06-30 07271196 frs-core:Non-currentFinancialInstruments 2 2023-06-30
Registered number: 07271196
Plantwork Systems Ltd
Unaudited Financial Statements
For the Period 1 July 2023 to 31 December 2024
Poolemead Accountants (Winchester) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07271196
31 December 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 450,592 521,803
Tangible Assets 5 856 53,656
451,448 575,459
CURRENT ASSETS
Stocks 6 - 31,255
Debtors 7 48,273 555,238
Cash at bank and in hand 4 27,432
48,277 613,925
Creditors: Amounts Falling Due Within One Year 8 (2,051,263 ) (1,399,586 )
NET CURRENT ASSETS (LIABILITIES) (2,002,986 ) (785,661 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,551,538 ) (210,202 )
Creditors: Amounts Falling Due After More Than One Year 9 (426,869 ) (245,834 )
NET LIABILITIES (1,978,407 ) (456,036 )
CAPITAL AND RESERVES
Called up share capital 10 328 326
Share premium account 3,484,400 3,429,087
Profit and Loss Account (5,463,135 ) (3,885,449 )
SHAREHOLDERS' FUNDS (1,978,407) (456,036)
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For the period 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.
The financial statements were approved by the board of directors on 22 July 2025 and were signed on its behalf by:
Mr John De Moraes
Director
22/07/2025
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
Plantwork Systems Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07271196 . The registered office is 10 Cross & Pillory Lane, Alton, Hampshire, GU34 1HL.
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 company has strong visibility of revenues which are anticipated to realise in the second half of 2025. The company is seeking further investment to support its working capital and development needs. Meanwhile the company continues to enjoy the support of its creditors and loan providers and the directors have prepared these accounts on a going basis, content that this support will continue.
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 rendering of services for design and construction work and is recognised based on the stage of completion of the work.Turnover relating to client sales retention is not recognised until such time as the client confirms acceptance and release of such retention.
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.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible
The other intangible asset is research and development costs which are being amortised over their estimated useful economic life of 10 years.
2.5. Intangible Fixed Assets and Amortisation - Intellectual Property
The intangible asset is being amortised over a period of 5 years based on the estimated time to generate sales and for the project to be completed.
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 economic lives on the following bases:
Plant & Machinery 10% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 10% on cost
Computer Equipment 25% on cost
Depreciation is charged in the year of purchase but not in the year of disposal.
2.7. 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.
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.
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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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.10. Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial, and financial feasibility can be demonstrated.
2.11. Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: Recognition of revenue and profit is based on judgements on the stage of completion of the contract. Such judgements are arrived at through the use of estimates in relation to costs and the value of work performed in bringing contracts to completion, including satisfaction of any maintenance responsibilties.
3. Average Number of Employees
Average number of employees, including directors, during the period was as follows:
31 December 2024 30 June 2023
Office and administration 2 2
Sales, marketing and distribution 4 4
6 6
4. Intangible Assets
Other Intellectual Property Total
£ £ £
Cost
As at 1 July 2023 604,739 30,000 634,739
Additions 30,000 - 30,000
As at 31 December 2024 634,739 30,000 664,739
...CONTINUED
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Amortisation
As at 1 July 2023 103,436 9,500 112,936
Provided during the period 92,211 9,000 101,211
As at 31 December 2024 195,647 18,500 214,147
Net Book Value
As at 31 December 2024 439,092 11,500 450,592
As at 1 July 2023 501,303 20,500 521,803
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 331,215 13,000 1,765 2,398 348,378
Additions - (13,000 ) - - (13,000 )
As at 31 December 2024 331,215 - 1,765 2,398 335,378
Depreciation
As at 1 July 2023 289,875 2,438 1,765 644 294,722
Provided during the period 41,339 3,792 - 899 46,030
Disposals - (6,230 ) - - (6,230 )
As at 31 December 2024 331,214 - 1,765 1,543 334,522
Net Book Value
As at 31 December 2024 1 - - 855 856
As at 1 July 2023 41,340 10,562 - 1,754 53,656
6. Stocks
31 December 2024 30 June 2023
£ £
Work in progress - 31,255
7. Debtors
31 December 2024 30 June 2023
£ £
Due within one year
Trade debtors 20,610 540,724
Prepayments and accrued income 10,163 4,514
Other debtors 17,500 -
Corporation tax debtor - 10,000
48,273 555,238
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8. Creditors: Amounts Falling Due Within One Year
31 December 2024 30 June 2023
£ £
Trade creditors 507,591 688,010
Bank loans and overdrafts 49,099 -
Other taxes and social security 80,328 6,926
VAT 6,479 16,763
Other creditors 5,371 3,476
Investor loans repayable on demand 131,923 147,961
Corporate loans repayable in less than one year 13,383 175,000
Accruals and deferred income 477,826 99,200
Directors' loan accounts 707,031 262,250
Amounts owed to associates 72,232 -
2,051,263 1,399,586
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 30 June 2023
£ £
Corporate loans repayable in more than 1 year 426,869 245,834
Secured Creditors
Mr John De Moraes has provided a personal guarantee of £200,000 in connection with two loans to the company from Funding South East, £100,000 in respect of one loan fromr Funding Circle and £50,000 to HSBC in respet of the company's overdraft facility.
10. Share Capital
31 December 2024 30 June 2023
Allotted, called up and fully paid £ £
328,458 Ordinary Shares of £ 0.001 each 328 326
Shares issued during the period: £
2,410 Ordinary Shares of £ 0.001 each 2
11. Related Party Transactions
Directors Loan 
Included in creditors is a loan made to the company by the directors. The loan of £706,972 (2023 - £261,859) is repayable on demand and attracts interest at the annual rate of 7.5%.The movement in the loan made to the company by the director resulted from interest accrued of £52,613 and new advances of £392,500.
Dal Sterling Ltd
The company has a service agreement with the above company for the provision of management, marketing, IT, office administration, human resource management, and general office support. The value of support contracted for in the year was £304,565. (2023 - £254,499). The value of other consultancy and recharges outside of the service agreement was £142,761 (2023 - £14,828).
A loan of £72,232 was made in the period.
The balance outstanding at the year end was £934,202 (2023:£414,313)
...CONTINUED
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11. Related Party Transactions - continued
Dal Sterling Ltd and Plantwork Systems Ltd have a director in common.
Moby Limited
The company is a personal service company for one of the non-executive directors to provide managerial and financial support services. The value of services provided during the year was £11,500 (2023- £31,200).
The balance outstanding at the year end was £14,000 of which £5,000 was accrued at the year end(2023 - £3,000).
12. Ultimate Controlling Party
The company's ultimate controlling party is John De Moraes.
13. Audit Information
The auditor's report on the accounts of Plantwork Systems Ltd for the period ended 31 December 2024 was unqualified.
The auditor's report was signed by Statutory Auditor.
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