Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 10283688 Mr Michael Ingall Mr Charlie Ingall Mr Frederick Graham-Watson Mr Suresh Gorasia Mr Jonathan Raine Versa Holdco (Investment) Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10283688 2023-12-31 10283688 2024-12-31 10283688 2024-01-01 2024-12-31 10283688 frs-core:CurrentFinancialInstruments 2024-12-31 10283688 frs-core:Non-currentFinancialInstruments 2024-12-31 10283688 frs-core:BetweenOneFiveYears 2024-12-31 10283688 frs-core:ComputerEquipment 2024-12-31 10283688 frs-core:ComputerEquipment 2024-01-01 2024-12-31 10283688 frs-core:ComputerEquipment 2023-12-31 10283688 frs-core:FurnitureFittings 2024-12-31 10283688 frs-core:FurnitureFittings 2024-01-01 2024-12-31 10283688 frs-core:FurnitureFittings 2023-12-31 10283688 frs-core:MoreThanFiveYears 2024-12-31 10283688 frs-core:MotorVehicles 2024-12-31 10283688 frs-core:MotorVehicles 2024-01-01 2024-12-31 10283688 frs-core:MotorVehicles 2023-12-31 10283688 frs-core:WithinOneYear 2024-12-31 10283688 frs-core:ShareCapital 2024-12-31 10283688 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10283688 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10283688 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10283688 frs-bus:SmallEntities 2024-01-01 2024-12-31 10283688 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10283688 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10283688 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10283688 frs-bus:OrdinaryShareClass1 2024-12-31 10283688 1 2024-01-01 2024-12-31 10283688 frs-bus:Director1 2024-01-01 2024-12-31 10283688 frs-bus:Director2 2024-01-01 2024-12-31 10283688 frs-bus:Director3 2024-01-01 2024-12-31 10283688 frs-bus:Director4 2024-01-01 2024-12-31 10283688 frs-bus:Director5 2024-01-01 2024-12-31 10283688 1 2024-01-01 2024-12-31 10283688 frs-countries:EnglandWales 2024-01-01 2024-12-31 10283688 2022-12-31 10283688 2023-12-31 10283688 2023-01-01 2023-12-31 10283688 frs-core:CurrentFinancialInstruments 2023-12-31 10283688 frs-core:Non-currentFinancialInstruments 2023-12-31 10283688 frs-core:BetweenOneFiveYears 2023-12-31 10283688 frs-core:MoreThanFiveYears 2023-12-31 10283688 frs-core:WithinOneYear 2023-12-31 10283688 frs-core:ShareCapital 2023-12-31 10283688 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10283688 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10283688 1 2023-01-01 2023-12-31
Registered number: 10283688
Versa Manchester Studios Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Versa Manchester Studios Limited
Contents
Contents

| Page
--- | ---
Statement of Financial Position | 1—2
Notes to the Financial Statements | 3—6

Page 1
Versa Manchester Studios Limited
Statement of Financial Position
As At 31 December 2024
Statement of Financial Position
Registered number: 10283688

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1,670,388 |  | 1,002,283
|  |  | 1,670,388 |  | 1,002,283
CURRENT ASSETS
Debtors | 5 | 2,278,468 |  | 1,430,181 |
Cash at bank and in hand |  | 392,048 |  | 38,908 |
|  | 2,670,516 |  | 1,469,089 |
Creditors: Amounts Falling Due Within One Year | 6 | (10,114,008 ) |  | (7,616,656 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (7,443,492 ) |  | (6,147,567 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (5,773,104 ) |  | (5,145,284 )
Creditors: Amounts Falling Due After More Than One Year | 7 |  | - |  | (458,700 )
NET LIABILITIES |  |  | (5,773,104 ) |  | (5,603,984 )
CAPITAL AND RESERVES
Called up share capital | 8 |  | 100 |  | 100
Income Statement |  |  | (5,773,204 ) |  | (5,604,084 )
SHAREHOLDERS' FUNDS |  |  | (5,773,104) |  | (5,603,984)

Page 1
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Versa Manchester Studios Limited
Statement of Financial Position (continued)
As At 31 December 2024
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 Income Statement.
On behalf of the board

Mr Suresh Gorasia Director
1 September 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Versa Manchester Studios Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Versa Manchester Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10283688 . The registered office is C/O Allied London, Suite 1, Bonded Warehouse, 18 Lower Byrom Street, Manchester, Greater Manchester, M3 4AP.
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
The company is in net current liability position as at 31 December 2024 of £7,443,492. Versa Manchester Studios Limited has various obligations it is required to meet and as a result has undertaken a thorough going concern review to ensure the company will continue to be able to meet its liabilities for the next year from the signing date of the accounts.
The company has £5,004,484 that is owed to group undertakings as at 31 December 2024. These are repayable on demand and not interest bearing. However, these liabilities will not be demanded within the next 12-month period from the signing date of the accounts. Other creditors include £2,422,453 relating to a rent-free accounting adjustment. This amount is not required to be settled in cash terms. Furthermore, the company had a cash balance of £392,048 as at 31 December 2024.
Following a review of the make-up of the balance sheet, combined with an assessment of the company’s cashflow forecasts for a period of at least 12 months from the signing date of the financial statements, the board has concluded that the company will be able to continue to meet its liabilities as they fall due and continue in operational existence for at least 12 months from the date of approval of these financial statements. For these reasons, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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.
2.4. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts and is predominantly rental income.
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:

Motor Vehicles | 5 years straight line
Fixtures & Fittings | 5 years straight line
Computer Equipment | 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.
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Versa Manchester Studios Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6. Leasing and Hire Purchase Contracts
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2.7. 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.
The company considers that the fair value of cash and cash equivalents, loans, trade and other receivables, and trade and other payables are not materially different to their carrying value. There are no financial instruments at fair value through profit and loss.
2.8. Taxation
The tax expense represents the sum of the tax currently payable and the deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
• Where timing differences relate to interests in subsidiaries, associates, branches and joint ventures and the group can control their reversal and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax.
Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was:

| 2024 |  | 2023
--- | --- | --- | ---
Directors | 5 |  | 5
| 5 |  | 5

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Versa Manchester Studios Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Tangible Assets

| Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost
As at 1 January 2024 | 14,200 | 2,365,010 | 22,133 | 2,401,343
Additions | 2,977 | 1,196,430 | 2,750 | 1,202,157
As at 31 December 2024 | 17,177 | 3,561,440 | 24,883 | 3,603,500
Depreciation
As at 1 January 2024 | 14,200 | 1,377,205 | 7,655 | 1,399,060
Provided during the period | 397 | 528,808 | 4,847 | 534,052
As at 31 December 2024 | 14,597 | 1,906,013 | 12,502 | 1,933,112
Net Book Value
As at 31 December 2024 | 2,580 | 1,655,427 | 12,381 | 1,670,388
As at 1 January 2024 | - | 987,805 | 14,478 | 1,002,283

5. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 1,673,381 |  | 852,390
Prepayments and accrued income | 469,351 |  | 294,808
Other debtors | 135,736 |  | 282,983
| 2,278,468 |  | 1,430,181

6. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 1,929,147 |  | 1,917,549
Bank loans and overdrafts | - |  | 250,200
Other creditors | 2,668,381 |  | 1,807,218
Accruals and deferred income | 511,996 |  | 1,461,712
Amounts owed to group undertakings | 5,004,484 |  | 2,179,977
| 10,114,008 |  | 7,616,656

Included within other creditors is an amount of £220,000 (2023: £220,000) that is owed to Mr M Ingall, a director of the company.
Amounts due to group undertakings and related parties are repayable on demand and not interest bearing.
7. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans | - |  | 458,700

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Versa Manchester Studios Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
8. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
100 Ordinary Shares of £ 1.000 each | 100 |  | 100

9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Not later than one year | 702,471 |  | 702,471
Later than one year and not later than five years | 3,449,884 |  | 3,449,884
Later than five years | 14,256,335 |  | 14,958,806
| 18,408,690 |  | 19,111,161

10. Related Party Transactions
The company has taken advantage of the exemption allowed by Financial Reporting Standard 102, "Related party disclosures" Section 33.1A not to disclose details of related party transactions with entities that are 100% owned members of the same group. There are no other related party transactions other than as disclosed.
Transactions with directors
The loans made to and from the company are not subject to interest and are repayable on demand.
At 31 December 2024 Versa Manchester Studios Limited owes £220,000 to Mr M Ingall (2023: £220,000). There have been no advances to, or repayments from Versa Manchester Studios Limited made during the year.
11. Ultimate Parent Undertaking and Controlling Party
The company's parent company is Versa Holdco (Investment) Limited, a company registered in England & Wales. Its registered address is C/O Allied London, Suite 1, Bonded Warehouse, 18 Lower Byrom Street, Manchester, Greater Manchester, M3 4AP
In the opinion of the directors Versa Holdco (Investment) Limited has no controlling party.
12. Audit Information
The auditor's report on the accounts of Versa Manchester Studios Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Statutory Auditor.
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