Acorah Software Products - Accounts Production 16.3.350 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 08826313 Mr Sarvesh Kumar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08826313 2023-06-30 08826313 2024-06-30 08826313 2023-07-01 2024-06-30 08826313 frs-core:CurrentFinancialInstruments 2024-06-30 08826313 frs-core:Non-currentFinancialInstruments 2024-06-30 08826313 frs-core:ComputerEquipment 2024-06-30 08826313 frs-core:ComputerEquipment 2023-07-01 2024-06-30 08826313 frs-core:ComputerEquipment 2023-06-30 08826313 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 08826313 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 08826313 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 08826313 frs-core:SharePremium 2024-06-30 08826313 frs-core:ShareCapital 2024-06-30 08826313 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 08826313 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08826313 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 08826313 frs-bus:SmallEntities 2023-07-01 2024-06-30 08826313 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08826313 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08826313 frs-bus:Director1 2023-07-01 2024-06-30 08826313 frs-core:CurrentFinancialInstruments 1 2024-06-30 08826313 frs-countries:EnglandWales 2023-07-01 2024-06-30 08826313 2022-06-30 08826313 2023-06-30 08826313 2022-07-01 2023-06-30 08826313 frs-core:CurrentFinancialInstruments 2023-06-30 08826313 frs-core:Non-currentFinancialInstruments 2023-06-30 08826313 frs-core:SharePremium 2023-06-30 08826313 frs-core:ShareCapital 2023-06-30 08826313 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 08826313 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: 08826313
Singular Intelligence Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08826313
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 5 581,651 598,313
Tangible Assets 6 2,187 2,353
583,838 600,666
CURRENT ASSETS
Debtors 7 125,485 21,526
Cash at bank and in hand 39 -
125,524 21,526
Creditors: Amounts Falling Due Within One Year 8 (621,288 ) (501,099 )
NET CURRENT ASSETS (LIABILITIES) (495,764 ) (479,573 )
TOTAL ASSETS LESS CURRENT LIABILITIES 88,074 121,093
Creditors: Amounts Falling Due After More Than One Year 9 (1,438 ) (1,813 )
NET ASSETS 86,636 119,280
CAPITAL AND RESERVES
Called up share capital 10 1,110 1,110
Share premium account 156,970 156,970
Profit and Loss Account (71,444 ) (38,800 )
SHAREHOLDERS' FUNDS 86,636 119,280
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Sarvesh Kumar
Director
23 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Singular Intelligence Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08826313 . The registered office is 128 City Road, London, EC1V 2NX.
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. 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. Research and Development
Expenditure on research and development is capitalised in the year it is incurred.
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% reducing balance
2.5. 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.
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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 7)
5 7
4. Prior Period Adjustment
The comparative figures for the year ended 30 June 2024 have been restated to correct an error in classification of investments. Investments received in prior years, amounting to £79,561.92, were incorrectly recognised in the share premium account. As these investments have not been converted into shares, this amount has been reclassified from the share premium account to a liability account.
5. Intangible Assets
Development Costs
£
Cost
As at 1 July 2023 664,792
Additions 55,352
As at 30 June 2024 720,144
Amortisation
As at 1 July 2023 66,479
Provided during the period 72,014
As at 30 June 2024 138,493
Net Book Value
As at 30 June 2024 581,651
As at 1 July 2023 598,313
6. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 9,140
Additions 563
As at 30 June 2024 9,703
Depreciation
As at 1 July 2023 6,787
Provided during the period 729
As at 30 June 2024 7,516
Net Book Value
As at 30 June 2024 2,187
As at 1 July 2023 2,353
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 123,959 20,000
Corporation tax recoverable assets 1,526 1,526
125,485 21,526
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,375 25,420
Bank loans and overdrafts 37,278 35,837
Other taxes and social security 173,898 129,640
VAT 58,888 61,016
Net wages 44,909 20,390
Other creditors 226,243 173,049
Pension liability 3,359 2,163
Accruals and deferred income 1,000 -
Director's loan account 50,338 53,584
621,288 501,099
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,438 1,813
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,110 1,110
11. Contingent Liabilities
2024 2023
£ £
At the end of the period 23,989 -
The company has a contingent liability to Isis Innovation Limited (Oxford University Innovation Limited) for a sum of £23,989 (excluding VAT) related to incubation services and third-party purchases. This amount is due and payable, but its settlement is contingent upon the company's ability to afford the payment without affecting its day-to-day operations or solvency.
Page 5