Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11276342 Mr Ferdinando Fusaro Mr Edoardo Narduzzi Miss Ester Lucia Narduzzi false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11276342 2023-12-31 11276342 2024-12-31 11276342 2024-01-01 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 2024-12-31 11276342 frs-core:Non-currentFinancialInstruments 2024-12-31 11276342 frs-core:ComputerEquipment 2024-12-31 11276342 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11276342 frs-core:ComputerEquipment 2023-12-31 11276342 frs-core:FurnitureFittings 2024-12-31 11276342 frs-core:FurnitureFittings 2024-01-01 2024-12-31 11276342 frs-core:FurnitureFittings 2023-12-31 11276342 frs-core:ShareCapital 2024-12-31 11276342 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11276342 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11276342 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11276342 frs-bus:SmallEntities 2024-01-01 2024-12-31 11276342 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11276342 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11276342 1 2024-01-01 2024-12-31 11276342 frs-core:CostValuation 2023-12-31 11276342 frs-core:AdditionsToInvestments 2024-12-31 11276342 frs-core:DisposalsRepaymentsInvestments 2024-12-31 11276342 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments 2024-12-31 11276342 frs-core:CostValuation 2024-12-31 11276342 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 11276342 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 11276342 frs-core:ListedExchangeTraded 2024-12-31 11276342 frs-core:ListedExchangeTraded 2023-12-31 11276342 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 11276342 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-12-31 11276342 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-12-31 11276342 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments frs-core:ListedExchangeTraded 2024-12-31 11276342 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 11276342 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 11276342 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 11276342 frs-bus:Director1 2024-01-01 2024-12-31 11276342 frs-bus:Director2 2024-01-01 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 1 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 3 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 4 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 5 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 6 2024-12-31 11276342 frs-core:CurrentFinancialInstruments 8 2024-12-31 11276342 frs-countries:EnglandWales 2024-01-01 2024-12-31 11276342 2022-12-31 11276342 2023-12-31 11276342 2023-01-01 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 2023-12-31 11276342 frs-core:Non-currentFinancialInstruments 2023-12-31 11276342 frs-core:ShareCapital 2023-12-31 11276342 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 1 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 2 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 3 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 4 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 5 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 6 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 8 2023-12-31 11276342 frs-core:CurrentFinancialInstruments 9 2023-12-31
Registered number: 11276342
Masada Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Masada Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—4

Page 1
Masada Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 11276342

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Investments - Cost/Fair Value | 5 |  | 11,062,763 |  | 11,620,713
|  |  | 11,062,763 |  | 11,620,713
CURRENT ASSETS
Debtors | 6 | 2,210,318 |  | 2,027,563 |
Investments | 7 | 14,000 |  | 14,000 |
Cash at bank and in hand |  | 879,422 |  | 707,860 |
|  | 3,103,740 |  | 2,749,423 |
Creditors: Amounts Falling Due Within One Year | 8 | (1,742,975 ) |  | (2,289,243 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,360,765 |  | 460,180
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 12,423,528 |  | 12,080,893
NET ASSETS |  |  | 12,423,528 |  | 12,080,893
CAPITAL AND RESERVES
Called up share capital | 9 |  | 8,816,910 |  | 8,816,910
Profit and Loss Account |  |  | 3,606,618 |  | 3,263,983
SHAREHOLDERS' FUNDS |  |  | 12,423,528 |  | 12,080,893

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 Ferdinando Fusaro Director
17/09/2025

The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Masada Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Masada Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11276342 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.
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. 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 | 25% SLM
Office Equipment | 25% SLM

2.3. Financial Instruments
All financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit or loss account, except those whose fair values cannot be measured reliably and are subsequently measured at cost less impairment.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets

| Fixtures & Fittings | Office Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | 28,406 | 823 | 29,229
As at 31 December 2024 | 28,406 | 823 | 29,229
Depreciation
As at 1 January 2024 | 28,406 | 823 | 29,229
As at 31 December 2024 | 28,406 | 823 | 29,229
Net Book Value
As at 31 December 2024 | - | - | -
As at 1 January 2024 | - | - | -

Page 2
Page 3
Masada Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Investments - Cost/Fair Value

| Listed | Other | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | 8,102,923 | 3,517,790 | 11,620,713
Additions | 1,711,871 | - | 1,711,871
Disposals | (2,815,608 ) | - | (2,815,608 )
Fair value adjustments | 545,787 | - | 545,787
As at 31 December 2024 | 7,544,973 | 3,517,790 | 11,062,763
Provision
As at 1 January 2024 | - | - | -
As at 31 December 2024 | - | - | -
Net Book Value
As at 31 December 2024 | 7,544,973 | 3,517,790 | 11,062,763
As at 1 January 2024 | 8,102,923 | 3,517,790 | 11,620,713

Investment in others consists of the investments in following companies:
Investment in 3Medchain SRL - £85,291.53
Investments in Robet SRL - £155,650.77
Investments in Mashfrog Group SRL - £976,742.99
Investments in Hidra Design SL - £839,842
Investments in GMCB Properties - £934,372.49
Investments in Wallife SPA - £430,450.20
Investment in Funtech Games Ltd - £10,000
Investment in Ledger asset holding - £83,243.20
Investment in Mashfrog DMCC - £2,194.47
6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | - |  | 150,421
Mashfrog commerce Ltd Loan | - |  | 222,953
Selfie Wealth Ltd Loan | 204,003 |  | 214,003
Loan - 3Medsoftware | 3,000 |  | -
Robet Services Ltd | 86,472 |  | 86,472
Robet Trust | 2,718 |  | 2,718
Funtech Games Ltd | 790,711 |  | 435,584
Mashfrog Commerce Ltd (For Falcon payment) | - |  | 103,322
Other Debtors - FX Gain | (2,582 ) |  | 2,693
VAT | 1,648 |  | 3,188
Directors' loan accounts | 41,777 |  | -
Loan - GMCB Properties Ltd | 229,370 |  | 253,259
Loans - Digitalbliz Ltd | 4,310 |  | 4,359
Loan - Watiyo Cloud SL | 456,362 |  | 156,062
Loan - Mashfrog Doo | 172,712 |  | 172,712
Mashfrog Group SRL Loan | 32,696 |  | 32,696
| 2,023,197 |  | 1,840,442

...CONTINUED
Page 3
Page 4
Masada Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024

Due after more than one year
Other Asset in Builg Inc (Canada) | 187,121 |  | 187,121
| 2,210,318 |  | 2,027,563

7. Current Asset Investments

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Short term deposits | 14,000 |  | 14,000

8. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 30,040 |  | 139,636
Masada Srl Loan | 166,448 |  | 166,448
Loan Payable - Fix Loan Int. Rate 4.35% | 778,782 |  | 778,692
Loan Payable - Fix Loan Int. Rate 6.12% | 767,605 |  | 783,639
Creditors for investments | - |  | 420,767
Loan - Evabeta | 100 |  | -
Directors' loan accounts | - |  | 61
| 1,742,975 |  | 2,289,243

9. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 8,816,910 |  | 8,816,910

10. Related Party Transactions
The company has balance of the interest free loan amounting £166,448 (2022 : £166,447 ) from Masada Srl Loan as at 31.12.24 and the same has been included in Note no. 8.
11. Controlling Party
The company's controlling party is Miss Ester Lucia Narduzzi by virtue of her ownership of 75% or more of the issued share capital in the company.
Page 4