Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 16 July 2025 1 January 2024 31 December 2024 31 December 2024 09691012 Mr Xavier Clusella Mr William Bean Mr Olivier Plante iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09691012 2023-12-31 09691012 2024-12-31 09691012 2024-01-01 2024-12-31 09691012 frs-core:CurrentFinancialInstruments 2024-12-31 09691012 frs-core:Non-currentFinancialInstruments 2024-12-31 09691012 frs-core:ComputerEquipment 2024-12-31 09691012 frs-core:ComputerEquipment 2024-01-01 2024-12-31 09691012 frs-core:ComputerEquipment 2023-12-31 09691012 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 09691012 frs-core:OtherResidualIntangibleAssets 2024-12-31 09691012 frs-core:OtherResidualIntangibleAssets 2023-12-31 09691012 frs-core:OtherReservesSubtotal 2024-12-31 09691012 frs-core:SharePremium 2024-12-31 09691012 frs-core:ShareCapital 2024-12-31 09691012 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09691012 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09691012 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09691012 frs-bus:SmallEntities 2024-01-01 2024-12-31 09691012 frs-bus:Audited 2024-01-01 2024-12-31 09691012 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09691012 frs-core:CostValuation 2023-12-31 09691012 frs-core:CostValuation 2024-12-31 09691012 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 09691012 frs-core:ImpairmentLossProvisionsForImpairmentInvestments 2024-12-31 09691012 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 09691012 frs-bus:Director1 2024-01-01 2024-12-31 09691012 frs-bus:Director2 2024-01-01 2024-12-31 09691012 frs-bus:Director3 2024-01-01 2024-12-31 09691012 frs-bus:Director3 2023-12-31 09691012 frs-bus:Director3 2024-12-31 09691012 frs-countries:EnglandWales 2024-01-01 2024-12-31 09691012 2022-12-31 09691012 2023-12-31 09691012 2023-01-01 2023-12-31 09691012 frs-core:CurrentFinancialInstruments 2023-12-31 09691012 frs-core:Non-currentFinancialInstruments 2023-12-31 09691012 frs-core:OtherReservesSubtotal 2023-12-31 09691012 frs-core:SharePremium 2023-12-31 09691012 frs-core:ShareCapital 2023-12-31 09691012 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09691012 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 09691012
Thingthing Ltd
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09691012
2024 2023
Notes
FIXED ASSETS
Tangible Assets 5 1,887 -
Investments 6 - 401,128
1,887 401,128
CURRENT ASSETS
Debtors 7 122,860 222,095
Cash at bank and in hand 54,279 34,776
177,139 256,871
Creditors: Amounts Falling Due Within One Year 8 (494,179 ) (75,666 )
NET CURRENT ASSETS (LIABILITIES) (317,040 ) 181,205
TOTAL ASSETS LESS CURRENT LIABILITIES (315,153 ) 582,333
Creditors: Amounts Falling Due After More Than One Year - (255,756 )
NET (LIABILITIES)/ASSETS (315,153 ) 326,577
CAPITAL AND RESERVES
Called up share capital 9 160 160
Share premium account 50,754 -
Other reserves 18,550 -
Profit and Loss Account (384,617 ) 326,417
SHAREHOLDERS' FUNDS (315,153) 326,577
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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.
Company Registration Number 09691012 (England and Wales)

The financial statements were approved by the board of directors on 16 July 2025 and were signed on its behalf by:
Mr Xavier Clusella
Director
16/07/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thingthing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09691012 . The registered office is 7 Bell Yard, London, WC2A 2JR.
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 currently intend to sell the assets of the company and, once complete, will commence an orderly wind-up of the company. The directors therefore do not consider the company to be a going concern and accordingly the financial statements have been prepared on a basis other than going concern.
As a result of the requirement to prepare the financial statements on a basis other than going concern, the following accounting treatments have been followed:
  • The convertible loan notes are expected to be resolved on sale of the company's assets and have therefore been recognised as current liabilities to better reflect the likely timing of settlement;
  • Assets held by the company have been impaired to their anticipated recoverable amounts;
  • A provision for redundancy or other staff contractual commitments is not considered necessary as staff are expected to transfer their employment as part of a trade and asset sale;
  • No provision has been made for the costs of winding up the company because there is currently no legal or constructive obligation to do so.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible consist of the cost of the assets of Fleksy, Inc. The legal assistance regarding the purchase is amortised at the rates specified below, but the rest of the asset is held at cost.
Amortisation is recognised so as to write off the residual value of assets, equal to their cost, less any impairment and accumulated amortisation, on the following bases annual:
Software                                                            20%
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:
Computer Equipment 25%
Fixed Asset Investments
Interests in subsidiary entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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2.6. Financial Instruments
Compound Instruments
The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.
2.7. 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.
2.8. Government Grant
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
The company applies the accrual model when recognising grant income. Grants are recognised over the periods in which the expenses are recognised to which those grants relate. Grants which are compensation for past expenses or losses, or where there are no future associated costs, are recognised in income in the period they become receivable. 
2.9. 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.
2.10. Rounding
Figures presented in the financial statements have all be rounded to the nearest integer.
2.11. Presentation Currency
The company uses Euros as its presentational currency. All figures in this report are Euros unless otherwise stated.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Intangible Assets
Other
Cost
As at 1 January 2024 386,642
As at 31 December 2024 386,642
Amortisation
As at 1 January 2024 386,642
As at 31 December 2024 386,642
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Computer Equipment
Cost
As at 1 January 2024 -
Additions 1,987
As at 31 December 2024 1,987
Depreciation
As at 1 January 2024 -
Provided during the period 100
As at 31 December 2024 100
Net Book Value
As at 31 December 2024 1,887
As at 1 January 2024 -
6. Investments
Subsidiaries
Cost
As at 1 January 2024 401,128
As at 31 December 2024 401,128
Provision
As at 1 January 2024 -
Impairment losses 401,128
As at 31 December 2024 401,128
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 401,128
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Included in the impairment figure in the primary statements is €401,128.00 related to the impairment of the investment in subsidiary. The resulting carrying value of the investment is nil.
7. Debtors
2024 2023
Due within one year
Trade debtors 59,101 206,638
Other debtors 63,759 15,457
122,860 222,095
8. Creditors: Amounts Falling Due Within One Year
2024 2023
Trade creditors 18,628 57,381
Other taxes and social security 1,241 -
Convertible Loan Notes 429,042 -
Intercompany creditors - 7,863
Accruals and deferred income 45,268 10,422
494,179 75,666
9. Share Capital
2024 2023
Allotted, Called up and fully paid 160 160
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
Mr Olivier Plante 11,601 982 - - 12,583
The above loan is unsecured and repayable on demand with an annual interest rate of 2.5%. The maximum loan per the agreement is €11,500 plus interest.
11. Post Balance Sheet Events
On the 21st January 2025, the directors of ThingThing Ltd agreed to start the process of vouluntary dissolution for their subsidiary entity, Thingthing SL. As a consequence of this, the investment held in the year by Thingthing Ltd has been impaired down to nil, as there is no longer any value held in the investment. Additionally, intercompany debtors have been impaired down to nil as they are not considered to be recoverable. 
12. Convertible Loans Notes
On 28 July 2023, the company issued £220,000 (€255,756) in unsecured convertible loan notes. The loan notes are readily convertible into Series A2 Preferred shares at a price of £0.58 (€0.70) per share. Unconverted loan notes shall be repaid in monthly instalments beginning on 31 January 2025. Interest is charged on the principal amount at a rate of 8% per annum.
On 29 July 2024, the company issued £145,000 (€174,682) in unsecured convertible loan notes. The loan notes are readily convertible into Series A2 Preffered shares at a price of £0.58 (€0.70) per share. Unconverted loan notes shall be repaid on 31 July 2025. There is no interest charged on these convertible loan notes.
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13. Audit Information
The auditor's report on the accounts of Thingthing Ltd for the year ended 31 December 2024 was unqualified.
The auditors emphasised the following matter without qualifying their report:
Financial statements prepared on a basis other than going concern
We draw attention to Note 2.2 to the financial statements which explains that the directors intend to sell the assets of the company which will then lead to an orderly wind down of the company. The directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements and accordingly the financial statements have been prepared on a basis other than going concern (as described in Note 2.2). Our opinion is not modified in respect of this matter.
The auditor's report was signed by James Moody (Senior Statutory Auditor) for and on behalf of Kirk Rice LLP , Statutory Auditor.
Kirk Rice LLP
Zeeta House, 200 Upper Richmond Road
Putney
London
SW15 2SH
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