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 08374915 Mr. M Moschini Mr F Parretta iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08374915 2023-12-31 08374915 2024-12-31 08374915 2024-01-01 2024-12-31 08374915 frs-core:CurrentFinancialInstruments 2024-12-31 08374915 frs-core:Non-currentFinancialInstruments 2024-12-31 08374915 frs-core:ComputerEquipment 2024-12-31 08374915 frs-core:ComputerEquipment 2024-01-01 2024-12-31 08374915 frs-core:ComputerEquipment 2023-12-31 08374915 frs-core:FurnitureFittings 2024-12-31 08374915 frs-core:FurnitureFittings 2024-01-01 2024-12-31 08374915 frs-core:FurnitureFittings 2023-12-31 08374915 frs-core:ShareCapital 2024-12-31 08374915 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08374915 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08374915 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08374915 frs-bus:SmallEntities 2024-01-01 2024-12-31 08374915 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08374915 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08374915 frs-core:CostValuation 2023-12-31 08374915 frs-core:AdditionsToInvestments 2024-12-31 08374915 frs-core:RevaluationsIncreaseDecreaseInInvestments 2024-12-31 08374915 frs-core:CostValuation 2024-12-31 08374915 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08374915 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments 2024-12-31 08374915 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 08374915 frs-bus:Director1 2024-01-01 2024-12-31 08374915 frs-bus:Director2 2024-01-01 2024-12-31 08374915 frs-core:CurrentFinancialInstruments 1 2024-12-31 08374915 frs-countries:EnglandWales 2024-01-01 2024-12-31 08374915 2022-12-31 08374915 2023-12-31 08374915 2023-01-01 2023-12-31 08374915 frs-core:CurrentFinancialInstruments 2023-12-31 08374915 frs-core:Non-currentFinancialInstruments 2023-12-31 08374915 frs-core:ShareCapital 2023-12-31 08374915 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08374915 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 08374915
Globely Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Agile Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08374915
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 363 675
Investments 5 79,961 47,468
80,324 48,143
CURRENT ASSETS
Stocks 6 5,814 3,000
Debtors 7 13,372 8,150
Cash at bank and in hand 92,561 91,069
111,747 102,219
Creditors: Amounts Falling Due Within One Year 8 (38,165 ) (26,824 )
NET CURRENT ASSETS (LIABILITIES) 73,582 75,395
TOTAL ASSETS LESS CURRENT LIABILITIES 153,906 123,538
Creditors: Amounts Falling Due After More Than One Year 9 - (20,326 )
NET ASSETS 153,906 103,212
CAPITAL AND RESERVES
Called up share capital 10 9,000 9,000
Profit and Loss Account 144,906 94,212
SHAREHOLDERS' FUNDS 153,906 103,212
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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 F Parretta
Director
29 September 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Globely Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08374915 . The registered office is 11 Brindley Place Brunswick Square, Birmingham, West Midlands, B1 2LP.
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
The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Turnover is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised at point of sale when the significant risks and rewards of ownership have passed to the buyer.

2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged to profit or loss over the estimated useful economic lives as follows - 
Fixtures & Fittings Over 3 years on a straight line basis
Computer Equipment Over 4 years on a straight line basis
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 
Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. 
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss. 
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Investments

Investments in equity instruments are measured initially at fair value, which is normally the transaction price. Transaction costs are excluded if the investments are subsequently measured at fair value through profit or loss. Subsequent to initial recognition investments that can be measured reliably are measured at fair value with changes recognised through profit or loss.

Impairment of financial assets

...CONTINUED
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2.6. Financial Instruments - continued
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 within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

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.
2.8. 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: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 165 1,388 1,553
Additions 101 - 101
As at 31 December 2024 266 1,388 1,654
Depreciation
As at 1 January 2024 50 828 878
Provided during the period 67 346 413
As at 31 December 2024 117 1,174 1,291
Net Book Value
As at 31 December 2024 149 214 363
As at 1 January 2024 115 560 675
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5. Investments
Other
£
Cost or Valuation
As at 1 January 2024 47,468
Additions 867,122
Revaluations 219
As at 31 December 2024 914,809
Provision
As at 1 January 2024 -
Disposals 834,848
As at 31 December 2024 834,848
Net Book Value
As at 31 December 2024 79,961
As at 1 January 2024 47,468
6. Stocks
2024 2023
£ £
Stock 5,814 3,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 435 3,967
Other debtors. 12,304 3,749
Other taxes and social security 633 434
13,372 8,150
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,059 13,409
Bank loans and overdrafts 20,326 9,034
Corporation tax 4,319 2,195
Investment interest accrual (95 ) 6
Accruals and deferred income - 387
Directors' loan accounts 1,556 1,793
38,165 26,824
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 20,326
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 9,000 9,000
11. Related Party Transactions
Marco Moschini, a director and the majority shareholder of the company (holding 66% of the issued share capital), provided consulting services during the year.
During the year, services were provided totalling £25,229 (2023: £29,515). The amount outstanding at 31 December 2024 was £1,654 (2023: £8,661). The 2024 balance was settled in full on 2 January 2025.
All transactions with Mr Moschini were conducted on normal commercial terms and on an arm’s length basis. No guarantees were given or received, and no interest was charged on the outstanding balances.
This disclosure is made in accordance with Section 1A of FRS 102, as it is considered necessary for the financial statements to give a true and fair view.
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