Acorah Software Products - Accounts Production 16.4.675 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11194291 Ms S Ashman Mrs H Masri Mr M G PÁLfalvi Mr E P Read Mr H Wigan Mr O H Wigan Mr B H Wigdortz false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11194291 2023-12-31 11194291 2024-12-31 11194291 2024-01-01 2024-12-31 11194291 frs-core:CurrentFinancialInstruments 2024-12-31 11194291 frs-core:Non-currentFinancialInstruments 2024-12-31 11194291 frs-core:ComputerEquipment 2024-12-31 11194291 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11194291 frs-core:ComputerEquipment 2023-12-31 11194291 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 11194291 frs-core:FurnitureFittings 2024-12-31 11194291 frs-core:FurnitureFittings 2024-01-01 2024-12-31 11194291 frs-core:FurnitureFittings 2023-12-31 11194291 frs-core:OtherResidualIntangibleAssets 2024-12-31 11194291 frs-core:OtherResidualIntangibleAssets 2023-12-31 11194291 frs-core:OtherReservesSubtotal 2024-12-31 11194291 frs-core:SharePremium 2024-12-31 11194291 frs-core:ShareCapital 2024-12-31 11194291 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11194291 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11194291 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11194291 frs-bus:SmallEntities 2024-01-01 2024-12-31 11194291 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11194291 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11194291 1 2024-01-01 2024-12-31 11194291 frs-core:CostValuation 2023-12-31 11194291 frs-core:CostValuation 2024-12-31 11194291 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 11194291 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 11194291 frs-bus:Director1 2024-01-01 2024-12-31 11194291 frs-bus:Director2 2024-01-01 2024-12-31 11194291 frs-bus:Director3 2024-01-01 2024-12-31 11194291 frs-bus:Director4 2024-01-01 2024-12-31 11194291 frs-bus:Director5 2024-01-01 2024-12-31 11194291 frs-bus:Director6 2024-01-01 2024-12-31 11194291 frs-bus:Director7 2024-01-01 2024-12-31 11194291 frs-countries:EnglandWales 2024-01-01 2024-12-31 11194291 2022-12-31 11194291 2023-12-31 11194291 2023-01-01 2023-12-31 11194291 frs-core:CurrentFinancialInstruments 2023-12-31 11194291 frs-core:Non-currentFinancialInstruments 2023-12-31 11194291 frs-core:OtherReservesSubtotal 2023-12-31 11194291 frs-core:SharePremium 2023-12-31 11194291 frs-core:ShareCapital 2023-12-31 11194291 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11194291
Tiney Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Ascendant Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 11194291
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 20,271 15,408
20,271 15,408
CURRENT ASSETS
Stocks 7 102,861 30,348
Debtors 8 1,192,390 589,260
Cash at bank and in hand 1,271,432 264,894
2,566,683 884,502
Creditors: Amounts Falling Due Within One Year 9 (1,490,564 ) (755,053 )
NET CURRENT ASSETS (LIABILITIES) 1,076,119 129,449
TOTAL ASSETS LESS CURRENT LIABILITIES 1,096,390 144,857
Creditors: Amounts Falling Due After More Than One Year 10 - (3,056,115 )
NET ASSETS/(LIABILITIES) 1,096,390 (2,911,258 )
CAPITAL AND RESERVES
Called up share capital 11 5 2
Share premium account 17,744,807 10,311,224
Share option reserves 961,758 269,475
Profit and Loss Account (17,610,180 ) (13,491,959 )
SHAREHOLDERS' FUNDS 1,096,390 (2,911,258)
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 B H Wigdortz
Director
24 June 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tiney Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11194291 . The registered office is International House, 12 Constance Street, London, E16 2DQ.

The presentation currency of the financial statements is the Pound Sterling (£).
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
Whilst the business has been loss making in the financial year, the Directors regularly review the cash position and forecast and believe there are sufficient funds to pay liabilities as they fall due. As such, the Directors agree the going concern basis is the appropriate method to prepare these financial statements.
2.3. Significant judgements and estimations
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.
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 lives on the following bases:
Fixtures & Fittings Straight line over 4 years
Computer Equipment Straight line over 3 years
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.
Page 3
Page 4
2.8. 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

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 consitutes 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 instruments

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 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 at amortised cost using the effective interest method.
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 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.
2.10. 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.
Page 4
Page 5
2.11. Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2023: 39)
39 39
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 2,299
As at 31 December 2024 2,299
Amortisation
As at 1 January 2024 2,299
As at 31 December 2024 2,299
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 698 76,764 77,462
Additions 6,199 12,633 18,832
As at 31 December 2024 6,897 89,397 96,294
Depreciation
As at 1 January 2024 511 61,543 62,054
Provided during the period 963 13,006 13,969
As at 31 December 2024 1,474 74,549 76,023
Net Book Value
As at 31 December 2024 5,423 14,848 20,271
As at 1 January 2024 187 15,221 15,408
Page 5
Page 6
6. Investments
Subsidiaries
£
Cost
As at 1 January 2024 16,050
As at 31 December 2024 16,050
Provision
As at 1 January 2024 16,050
As at 31 December 2024 16,050
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
7. Stocks
2024 2023
£ £
Stock 102,861 30,348
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,600 -
Other debtors 1,183,472 580,431
1,185,072 580,431
Due after more than one year
Amounts owed by group undertakings 7,318 8,829
1,192,390 589,260
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 63,724 107,817
Other creditors 1,335,595 556,293
Taxation and social security 91,245 90,943
1,490,564 755,053
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans - 3,056,115
Page 6
Page 7
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 2
12. Controlling Party
The ultimate controlling party is Mr B H Wigdortz, by virtue of his significant influence or control over the company.
13. SHARE‑BASED PAYMENT TRANSACTIONS
Approved Options
The Company operates an Approved EMI Share Option Plan where certain employees are granted options to purchase shares in the company.  On exercise of the options by the employees, the Company issues new shares. Since scheme inception in Feb-2019 options have been granted regularly at various exercise prices. The vesting schedule varies with each grant.
The following table illustrates the number and weighted average exercise prices (WAEP) of,  and movements in,  share options during the year under the Approved EMI Share Option Plan.
The Company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share schemes similar to the scheme the Company have in place.
Approved options
2024
No.
image
2024
WAEP £
image
2023
No.
image
2023
WAEP £
image
Outstanding as at 1st January
283,108
0.00000
251,120
0.63296
Granted during the year
-
0.00000
41,219
1.71000
Lapsed during the year
(1,543)
1.31103
(9,231)
0.85000
Exercised
-
0.00000
(2,188)
0.79886
Outstanding at 31 December
281,565
image
(0.00718)
image
283,108
image
0.77652
image
Exercisable at 31 December
-
image
-
image
2,188
image
0.79886
image


Unapproved Options
The company also operate an unapproved share option plan for certain individuals. Under this plan, individuals are granted options over Ordinary shares with options vesting under differing schedules. Again, options under this plan have been granted at an exercise price equal to the fair value of the shares under option at the time of grant and therefore no expense is recognised in the financial statements for the options granted under this plan.
The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year under the Unapproved Share Option Plan.

The Company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share schemes similar to the scheme the Company have in place.
Unapproved options
2024
No.
image
2024
WAEP £
image
2023
No.
image
2023
WAEP £
image
Outstanding as at 1st January
39,258
0.86
36,249
0.79
Granted during the year
-
-
3009
1.71
Lapsed during the year
-
-
...CONTINUED
Page 7
Page 8
Outstanding at 31 December
39,258

image
0.86

image
39,258

image
0.86

image

Exercisable at 31 December
-
image
-
image
-
image
-
image
Page 8