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 05926560 Mr Mark Read Mr Tom Klein Mr Ian Atkins Mr Stephen Boobyer Mr Timothy Lander Mr Simon Davies Mr Donald Fuller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05926560 2023-12-31 05926560 2024-12-31 05926560 2024-01-01 2024-12-31 05926560 frs-core:CurrentFinancialInstruments 2024-12-31 05926560 frs-core:Non-currentFinancialInstruments 2024-12-31 05926560 frs-core:ComputerEquipment 2024-12-31 05926560 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05926560 frs-core:ComputerEquipment 2023-12-31 05926560 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 05926560 frs-core:FurnitureFittings 2024-12-31 05926560 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05926560 frs-core:FurnitureFittings 2023-12-31 05926560 frs-core:OtherResidualIntangibleAssets 2024-12-31 05926560 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 05926560 frs-core:OtherResidualIntangibleAssets 2023-12-31 05926560 frs-core:SharePremium 2024-12-31 05926560 frs-core:ShareCapital 2024-12-31 05926560 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05926560 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05926560 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05926560 frs-bus:SmallEntities 2024-01-01 2024-12-31 05926560 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05926560 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05926560 frs-bus:Director1 2024-01-01 2024-12-31 05926560 frs-bus:Director2 2024-01-01 2024-12-31 05926560 frs-bus:Director3 2024-01-01 2024-12-31 05926560 frs-bus:Director4 2024-01-01 2024-12-31 05926560 frs-bus:Director5 2024-01-01 2024-12-31 05926560 frs-bus:Director6 2024-01-01 2024-12-31 05926560 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 05926560 frs-core:CurrentFinancialInstruments 9 2024-12-31 05926560 frs-countries:EnglandWales 2024-01-01 2024-12-31 05926560 2022-12-31 05926560 2023-12-31 05926560 2023-01-01 2023-12-31 05926560 frs-core:CurrentFinancialInstruments 2023-12-31 05926560 frs-core:Non-currentFinancialInstruments 2023-12-31 05926560 frs-core:SharePremium 2023-12-31 05926560 frs-core:ShareCapital 2023-12-31 05926560 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05926560 frs-core:CurrentFinancialInstruments 4 2023-12-31 05926560 frs-core:CurrentFinancialInstruments 9 2023-12-31
Registered number: 05926560
Rightboat Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05926560
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 60,744 75,930
Tangible Assets 5 4,687 5,228
65,431 81,158
CURRENT ASSETS
Debtors 6 75,262 244,622
Cash at bank and in hand 100,922 71,216
176,184 315,838
Creditors: Amounts Falling Due Within One Year 7 (499,961 ) (131,480 )
NET CURRENT ASSETS (LIABILITIES) (323,777 ) 184,358
TOTAL ASSETS LESS CURRENT LIABILITIES (258,346 ) 265,516
Creditors: Amounts Falling Due After More Than One Year 8 (989,986 ) (1,009,982 )
NET LIABILITIES (1,248,332 ) (744,466 )
CAPITAL AND RESERVES
Called up share capital 9 1,103,986 757,261
Share premium account 2,085,016 1,349,749
Profit and Loss Account (4,437,334 ) (2,851,476 )
SHAREHOLDERS' FUNDS (1,248,332) (744,466)
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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 Ian Atkins
Director
25th September 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Rightboat Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05926560 . The registered office is Deacons House Bridge Road, Bursledon, Southampton, Hampshire, SO31 8AZ.
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
As at the statement of financial position date the Company had net liabilities. A director is a significant creditor of the Company and will not seek repayment of the debt until the Company can afford to repay it. Therefore, it is appropriate for the financial statements to be prepared on a going concern basis.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment.  Amortisation is provided on all intangible assets at rates to write off the cost of valuation of each asset over its estimated useful economic life of 5 years.
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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
2.6. 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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2.7. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 292,452
As at 31 December 2024 292,452
Amortisation
As at 1 January 2024 216,522
Provided during the period 15,186
As at 31 December 2024 231,708
Net Book Value
As at 31 December 2024 60,744
As at 1 January 2024 75,930
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 1,884 7,047 8,931
Additions - 1,567 1,567
Disposals - (583 ) (583 )
As at 31 December 2024 1,884 8,031 9,915
Depreciation
As at 1 January 2024 685 3,018 3,703
...CONTINUED
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Provided during the period 300 1,658 1,958
Disposals - (433 ) (433 )
As at 31 December 2024 985 4,243 5,228
Net Book Value
As at 31 December 2024 899 3,788 4,687
As at 1 January 2024 1,199 4,029 5,228
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,963 135
Prepayments and accrued income 2,091 15,636
Other debtors 26,405 -
Share subscription monies - unpaid - 150,008
Corporation tax recoverable assets 26,803 44,390
VAT - 34,453
75,262 244,622
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 130,486 87,379
Bank loans and overdrafts 9,996 5,274
Other taxes and social security 19,957 8,722
Other creditors 41,404 -
Employee Loan Account 66,667 5,577
Accruals and deferred income 231,451 24,528
499,961 131,480
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,004 25,000
Directors loan account 984,982 984,982
989,986 1,009,982
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,103,986 757,261
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