Acorah Software Products - Accounts Production 16.4.675 false true true 31 December 2023 1 January 2023 false 22 July 2025 1 January 2024 30 September 2024 30 September 2024 10522984 Mr Timothy Cummins Mr Edward Sykes Mr Anthony Vega true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10522984 2023-12-31 10522984 2024-09-30 10522984 2024-01-01 2024-09-30 10522984 frs-core:ComputerEquipment 2024-09-30 10522984 frs-core:ComputerEquipment 2024-01-01 2024-09-30 10522984 frs-core:ComputerEquipment 2023-12-31 10522984 frs-core:ShareCapital 2024-09-30 10522984 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 10522984 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-09-30 10522984 frs-bus:FilletedAccounts 2024-01-01 2024-09-30 10522984 frs-bus:SmallEntities 2024-01-01 2024-09-30 10522984 frs-bus:Audited 2024-01-01 2024-09-30 10522984 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-09-30 10522984 frs-bus:Director1 2024-01-01 2024-09-30 10522984 frs-bus:Director2 2024-01-01 2024-09-30 10522984 frs-bus:Director3 2024-01-01 2024-09-30 10522984 frs-countries:EnglandWales 2024-01-01 2024-09-30 10522984 2022-12-31 10522984 2023-12-31 10522984 2023-01-01 2023-12-31 10522984 frs-core:CurrentFinancialInstruments 2023-12-31 10522984 frs-core:ShareCapital 2023-12-31 10522984 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 10522984
Swoogo Solutions Ltd
Financial Statements
For the Period 1 January 2024 to 30 September 2024
Paul Beare Ltd
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 10522984
30 September 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Cash at bank and in hand 24,939 118,805
24,939 118,805
Creditors: Amounts Falling Due Within One Year 6 (62,343 ) (1,424,762 )
NET CURRENT ASSETS (LIABILITIES) (37,404 ) (1,305,957 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,404 ) (1,305,957 )
NET LIABILITIES (37,404 ) (1,305,957 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement (37,504 ) (1,306,057 )
SHAREHOLDERS' FUNDS (37,404) (1,305,957)
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 Income Statement.
On behalf of the board
Mr Timothy Cummins
Director
22/07/2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Swoogo Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10522984 . The registered office is 49 Greek Street, London, W1D 4EG.
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.
The Company's operational and functional currency is GBP.
The financial statements are presented in Sterling (£) and all amounts have been rounded to the nearest £.
2.2. Going Concern Disclosure
Following the cessation of trading on 30 September 2024 and the intention of the directors to place the company into liquidation, the financial statements have not been prepared on a going concern basis. Instead, they have been prepared on a break-up basis. Under this basis, assets are stated at the lower of their carrying amount and net realisable value, and liabilities are stated at the amounts expected to be settled, including any additional costs associated with the winding-up of the company.
The directors consider that the break-up basis is appropriate in these circumstances, and all necessary adjustments have been made to reflect this basis of preparation.
2.3. Significant judgements and estimations
Judgements in applying accounting policies and key sources of estimation uncertainty
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.
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 3 years straight line
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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.
2.6. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds
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2.7. Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
2.8. Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 5 (2023: 4)
5 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 1,063
As at 30 September 2024 1,063
Depreciation
As at 1 January 2024 1,063
As at 30 September 2024 1,063
Net Book Value
As at 30 September 2024 -
As at 1 January 2024 -
6. Creditors: Amounts Falling Due Within One Year
30 September 2024 31 December 2023
£ £
Amounts owed to participating interests - 1,351,945
Other creditors 62,343 72,817
62,343 1,424,762
7. Share Capital
30 September 2024 31 December 2023
£ £
Allotted, Called up and fully paid 100 100
8. Post Balance Sheet Events
Post the balance sheet date, all liabilities have been settled and the directors intend to liquidate the entity.  
9. Related Party Disclosures
The Company has taken advantage of the exemption in Paragraph 33. 1A of FRS 102 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.
10. Ultimate controlling Party
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The company's immediate parent undertaking is Swoogo LLC, a company incorporated in the United States of America.
The ultimate parent undertaking is Eagle Rock Capital Corporation (incorporated in United States). Its registered office is 1925 Century Park E#1700, Los Angeles, CA 90067, US.
11. Audit Information
The auditor's report on the accounts of Swoogo Solutions Ltd for the period ended 30 September 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 company ceased trading on 30th September 2024 and subsequent to this date the directors intend to liquidate the company and therefore do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.  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 Andrew Davis (Senior Statutory Auditor) for and on behalf of AMS Audit Limited , Statutory Auditor.
AMS Audit Limited
Floor 2
9 Portland Street
Manchester
M1 3BE
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