Acorah Software Products - Accounts Production 16.4.675 false true true 31 March 2024 1 April 2023 false 25 July 2025 1 April 2024 31 March 2025 31 March 2025 11520877 Mr Roger Kerr Mrs Ana-Marie Lockyer true true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11520877 2024-03-31 11520877 2025-03-31 11520877 2024-04-01 2025-03-31 11520877 frs-core:CurrentFinancialInstruments 2025-03-31 11520877 frs-core:ShareCapital 2025-03-31 11520877 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 11520877 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11520877 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 11520877 frs-bus:SmallEntities 2024-04-01 2025-03-31 11520877 frs-bus:Audited 2024-04-01 2025-03-31 11520877 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 11520877 1 2024-04-01 2025-03-31 11520877 frs-bus:Director1 2024-04-01 2025-03-31 11520877 frs-bus:Director2 2024-04-01 2025-03-31 11520877 frs-countries:EnglandWales 2024-04-01 2025-03-31 11520877 frs-countries:NewZealand 2024-04-01 2025-03-31 11520877 2023-03-31 11520877 2024-03-31 11520877 2023-04-01 2024-03-31 11520877 frs-core:CurrentFinancialInstruments 2024-03-31 11520877 frs-core:ShareCapital 2024-03-31 11520877 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 11520877
Pie Funds UK Limited
Financial Statements
For The Year Ended 31 March 2025
Paul Beare Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 11520877
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 274,798 424,598
Cash at bank and in hand 300,177 222,247
574,975 646,845
Creditors: Amounts Falling Due Within One Year 5 (249,288 ) (396,678 )
NET CURRENT ASSETS (LIABILITIES) 325,687 250,167
TOTAL ASSETS LESS CURRENT LIABILITIES 325,687 250,167
NET ASSETS 325,687 250,167
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Profit and Loss Account 324,687 249,167
SHAREHOLDERS' FUNDS 325,687 250,167
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 25 July 2025 and were signed on its behalf by:
Company registration number 11520877 (England and Wales)
Mr Roger Kerr
Director
25/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pie Funds UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11520877 . The registered office is 49 Greek Street, London, W1D 4EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 asset position of £325,687 at the balance sheet date. 
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.
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. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no key estimates or judgement uncertainties in the financial statements for the year ended 31 March 2025.
2.4. 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.
2.5. 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
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
...CONTINUED
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2.6. Financial Instruments - continued
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.
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.
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
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. 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
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4. Debtors
2025 2024
£ £
Due within one year
Amounts owed by group undertakings 251,420 408,916
Other debtors 23,378 15,682
274,798 424,598
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 14,656 3,760
Other creditors 190,629 348,276
Taxation and social security 44,003 44,642
249,288 396,678
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
7. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £27,167.
At the balance sheet date contributions of £2,763 (2024 £3,302) were due to the fund and are included in creditors.
8. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
9. Controlling Parties
The company's immediate parent undertaking is Pie Funds Management Limited .
The ultimate parent undertaking is Pie Funds Management Limited (incorporated in New Zealand). Its registered office is Level 1, Byron Avenue, Takapuna, Auckland, New Zealand 0622 .
Copies of the group accounts may be obtained from the company's registered office.
The directors are of the opinion that there is no one individual overall controlling party.
10. Audit Information
The auditor's report on the accounts of Pie Funds UK Limited for the year ended 31 March 2025 was unqualified.
The auditor's report was signed by Andrew Davis ACCA CTA FMAAT (Senior Statutory Auditor) for and on behalf of AMS Audit Ltd , Statutory Auditor.
AMS Audit Ltd
Floor 2
9 Portland Street
Manchester
M1 3BE
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