Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 4 September 2025 1 January 2024 31 December 2024 31 December 2024 08120731 Mr Frederik Boenaes Mrs Laila Aarseth Lancelot UK Holdco Limited The Peak, Level 2, 5 Wilton Road, London, England, SW1V 1AN true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08120731 2023-12-31 08120731 2024-12-31 08120731 2024-01-01 2024-12-31 08120731 frs-core:CurrentFinancialInstruments 2024-12-31 08120731 frs-core:ComputerEquipment 2024-12-31 08120731 frs-core:ComputerEquipment 2024-01-01 2024-12-31 08120731 frs-core:ComputerEquipment 2023-12-31 08120731 frs-core:ShareCapital 2024-12-31 08120731 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08120731 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08120731 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08120731 frs-bus:SmallEntities 2024-01-01 2024-12-31 08120731 frs-bus:Audited 2024-01-01 2024-12-31 08120731 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08120731 1 2024-01-01 2024-12-31 08120731 frs-bus:Director1 2024-01-01 2024-12-31 08120731 frs-bus:Director2 2024-01-01 2024-12-31 08120731 frs-countries:EnglandWales 2024-01-01 2024-12-31 08120731 2022-12-31 08120731 2023-12-31 08120731 2023-01-01 2023-12-31 08120731 frs-core:CurrentFinancialInstruments 2023-12-31 08120731 frs-core:ShareCapital 2023-12-31 08120731 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 08120731
EG Checkware Ltd
Financial Statements
For The Year Ended 31 December 2024
EG Checkware Ltd
Contents
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—6
Page 1
EG Checkware Ltd
Company Information
For The Year Ended 31 December 2024
Company Information
Directors Mr Frederik Boenaes
Mrs Laila Aarseth
Company Number 08120731
Registered Office 1 Chapel Street
Warwick
CV34 4HL
Accountants Goodwille Limited
20 Red Lion St
London
WC1R 4PS
Auditors Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG
Page 1
Page 2
EG Checkware Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 08120731
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 202
- 202
CURRENT ASSETS
Debtors 5 88,881 30,040
Cash at bank and in hand 12,544 23,920
101,425 53,960
Creditors: Amounts Falling Due Within One Year 6 (1,625,352 ) (1,487,531 )
NET CURRENT ASSETS (LIABILITIES) (1,523,927 ) (1,433,571 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,523,927 ) (1,433,369 )
NET LIABILITIES (1,523,927 ) (1,433,369 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (1,523,928 ) (1,433,370 )
SHAREHOLDERS' FUNDS (1,523,927) (1,433,369)
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 Frederik Boenaes
Director
04/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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EG Checkware Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
EG Checkware Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08120731 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
The company changed its name from Checkware Ltd to EG Checkware Ltd on 15 January 2025. These financial statements are prepared under the company’s new name.
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
Though the Company is operating at a loss, the Directors have a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Directors have considered a letter of support from its immediate parent company stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, the Directors continue to adopt the going concern basis in preparing the annual financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the provision of services is recognised when the services have been provided. Turnover is recognised when the amount of turnover can be reliably measured and it is probable that future economic benefits will flow to the company.
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:
Computer Equipment 3 years straight line
2.6. 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, and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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EG Checkware Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.8. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
2.9. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.10. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
2.11. Share Capital 
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 7,878
As at 31 December 2024 7,878
Depreciation
As at 1 January 2024 7,676
Provided during the period 202
As at 31 December 2024 7,878
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 202
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EG Checkware Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,602 6,614
Prepayments and accrued income 7,600 21,233
Other debtors 1,088 2,193
Amounts owed by group undertakings 63,591 -
88,881 30,040
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 789 470
Accruals and deferred income 5,800 22,727
Amounts owed to group undertakings 1,618,763 1,464,334
1,625,352 1,487,531
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Dividends
No dividends were proposed or paid during the current or prior period. 
9. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Lancelot UK Holdco Limited , incorporated in England and Wales. Copies of the group accounts may be obtained from the secretary, The Peak, Level 2, 5 Wilton Road, London, England, SW1V 1AN . 
11. Audit Information
The auditor's report on the accounts of EG Checkware Ltd for the year ended 31 December 2024 was qualified.
The basis of qualification in the auditor's report was as follows:
With respect to a bank balance of £9,264 at 31 December 2024 and £23,920 at 31 December 2023 presented as Cash at Bank, the audit evidence available to us was limited because we were unable to obtain a Bank Report for Audit Purposes directly from the bank, although we have seen evidence of the existence of the balance on certain documents from the bank. Consequently, we were unable to determine whether any adjustment to the value or presentation of the balance was necessary.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.
The matters required to report by exception are stated below:
The auditor's report was signed by Caroline Peverett BA FCA (Senior Statutory Auditor) for and on behalf of Tuerner Audit Limited , Statutory Auditor.
Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG
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EG Checkware Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
Page 6