Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13978146 Mr A R Hawes Mr R I Mathieson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13978146 2023-12-31 13978146 2024-12-31 13978146 2024-01-01 2024-12-31 13978146 frs-core:CurrentFinancialInstruments 2024-12-31 13978146 frs-core:ComputerEquipment 2024-12-31 13978146 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13978146 frs-core:ComputerEquipment 2023-12-31 13978146 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 13978146 frs-core:OtherResidualIntangibleAssets 2024-12-31 13978146 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 13978146 frs-core:OtherResidualIntangibleAssets 2023-12-31 13978146 frs-core:ShareCapital 2024-12-31 13978146 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13978146 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13978146 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13978146 frs-bus:SmallEntities 2024-01-01 2024-12-31 13978146 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13978146 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13978146 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13978146 frs-bus:OrdinaryShareClass1 2024-12-31 13978146 frs-bus:Director1 2024-01-01 2024-12-31 13978146 frs-bus:Director2 2024-01-01 2024-12-31 13978146 frs-countries:EnglandWales 2024-01-01 2024-12-31 13978146 2022-12-31 13978146 2023-12-31 13978146 2023-01-01 2023-12-31 13978146 frs-core:CurrentFinancialInstruments 2023-12-31 13978146 frs-core:ShareCapital 2023-12-31 13978146 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13978146 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31
Registered number: 13978146
Venture Systems Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Directors Mr A R Hawes
Mr R I Mathieson
Company Number 13978146
Registered Office 101 Lincoln House
1-3 Brixton Road
London
SW9 6DE
Accountants Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU
Page 1
Page 2
Balance Sheet
Registered number: 13978146
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,615 5,776
Tangible Assets 5 11,204 4,221
26,819 9,997
CURRENT ASSETS
Debtors 6 2,265,341 3,827,000
Cash at bank and in hand 1,227,719 157,896
3,493,060 3,984,896
Creditors: Amounts Falling Due Within One Year 7 (927,992 ) (2,473,990 )
NET CURRENT ASSETS (LIABILITIES) 2,565,068 1,510,906
TOTAL ASSETS LESS CURRENT LIABILITIES 2,591,887 1,520,903
NET ASSETS 2,591,887 1,520,903
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 2,591,787 1,520,803
SHAREHOLDERS' FUNDS 2,591,887 1,520,903
Page 2
Page 3
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.
The financial statements were approved by the board of directors on 6 June 2025 and were signed on its behalf by:
Mr A R Hawes
Director
Mr R I Mathieson
Director
06/06/2025
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Venture Systems Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13978146
The registered office is 101 Lincoln House, 1-3 Brixton Road, London, SW9 6DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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.
The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.
2.2. 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.
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.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
        Website development
     25% on reducing balance
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 25% on reducing balance
Page 4
Page 5
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. 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.
2.7. 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.
2.8. Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 5
Page 6
2.9. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.10. Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 5)
11 5
4. Intangible Assets
Website development
£
Cost or Valuation
As at 1 January 2024 7,155
Additions 11,874
As at 31 December 2024 19,029
Amortisation
As at 1 January 2024 1,379
Provided during the period 2,035
As at 31 December 2024 3,414
Net Book Value
As at 31 December 2024 15,615
As at 1 January 2024 5,776
Page 6
Page 7
5. Tangible Assets
Computer Equipment
£
Cost or Valuation
As at 1 January 2024 4,470
Additions 9,084
As at 31 December 2024 13,554
Depreciation
As at 1 January 2024 249
Provided during the period 2,101
As at 31 December 2024 2,350
Net Book Value
As at 31 December 2024 11,204
As at 1 January 2024 4,221
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,166,359 2,839,045
Other debtors 1,098,982 987,955
2,265,341 3,827,000
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,488 10,783
Amounts owed to group undertakings 44,529 119,889
Other creditors 645,416 1,972,997
Taxation and social security 228,559 370,321
927,992 2,473,990
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 7
Page 8
9. Pension Commitments
The company operates a defined contribution pension scheme. 
During the year the charge to the profit and loss account in respect of defined contribution scheme was £19,778 (2023 - £977).
At the balance sheet date, contributions of £15,365 (2023: £1,108) were due to the scheme and are included in creditors.
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 354,148 663,026
11. Related Party Disclosures
Boss Professional Services Limited
Parent company
At the balance sheet date, the company owed £17,398 (2023: £46,086) to Boss Professional Services Limited.
Boss ERP Consulting Limited
Under common control
At the balance sheet date, the company owed £27,131 (2023: £73,803) to Boss ERP Consulting Limited.
Page 8