Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 30 September 2025 1 January 2024 31 December 2024 31 December 2024 SC187406 Mr Kevin Alan Agustin Fearnley Mr Kevin Allan Fearnley Mrs Genevieve Pantin Fearnley Mr David Alexandre Julien Bourlaouen true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC187406 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-12-31 SC187406 2023-12-31 SC187406 2024-12-31 SC187406 2024-01-01 2024-12-31 SC187406 frs-core:CurrentFinancialInstruments 2024-12-31 SC187406 frs-core:Non-currentFinancialInstruments 2024-12-31 SC187406 frs-core:BetweenOneFiveYears 2024-12-31 SC187406 frs-core:ComputerEquipment 2024-01-01 2024-12-31 SC187406 frs-core:FurnitureFittings 2024-12-31 SC187406 frs-core:FurnitureFittings 2024-01-01 2024-12-31 SC187406 frs-core:FurnitureFittings 2023-12-31 SC187406 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 SC187406 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC187406 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 SC187406 frs-core:MotorVehicles 2024-12-31 SC187406 frs-core:MotorVehicles 2024-01-01 2024-12-31 SC187406 frs-core:MotorVehicles 2023-12-31 SC187406 frs-core:WithinOneYear 2024-12-31 SC187406 frs-core:ShareCapital 2024-12-31 SC187406 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC187406 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC187406 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 SC187406 frs-bus:SmallEntities 2024-01-01 2024-12-31 SC187406 frs-bus:Audited 2024-01-01 2024-12-31 SC187406 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC187406 1 2024-01-01 2024-12-31 SC187406 frs-bus:Director1 2024-01-01 2024-12-31 SC187406 frs-bus:Director2 2024-01-01 2024-12-31 SC187406 frs-bus:Director3 2024-01-01 2024-12-31 SC187406 frs-bus:Director4 2024-01-01 2024-12-31 SC187406 frs-countries:Scotland 2024-01-01 2024-12-31 SC187406 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-12-31 SC187406 2022-12-31 SC187406 2023-12-31 SC187406 2023-01-01 2023-12-31 SC187406 frs-core:CurrentFinancialInstruments 2023-12-31 SC187406 frs-core:Non-currentFinancialInstruments 2023-12-31 SC187406 frs-core:BetweenOneFiveYears 2023-12-31 SC187406 frs-core:WithinOneYear 2023-12-31 SC187406 frs-core:ShareCapital 2023-12-31 SC187406 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: SC187406
Fearnley UK Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—6
Page 1
Balance Sheet
Registered number: SC187406
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,664,908 615,839
1,664,908 615,839
CURRENT ASSETS
Debtors 5 3,744,536 3,934,436
Cash at bank and in hand 59,881 439,745
3,804,417 4,374,181
Creditors: Amounts Falling Due Within One Year 6 (1,660,710 ) (2,005,492 )
NET CURRENT ASSETS (LIABILITIES) 2,143,707 2,368,689
TOTAL ASSETS LESS CURRENT LIABILITIES 3,808,615 2,984,528
Creditors: Amounts Falling Due After More Than One Year 7 (901,668 ) -
NET ASSETS 2,906,947 2,984,528
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 2,906,847 2,984,428
SHAREHOLDERS' FUNDS 2,906,947 2,984,528
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.
The financial statements were approved by the board of directors on 30 September 2025 and were signed on its behalf by:
Mr Kevin Allan Fearnley
Director
30 September 2025
The notes on pages 2 to 6 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Fearnley UK Limited is a private company, limited by shares, incorporated in Scotland, registered number SC187406 . The registered office is 14 Carden Place , Aberdeen, AB10 1UR.
The presentation currency of the financial statements is the Pound Sterling (£).
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. The financial statements have been prepared under the historical cost convention.
2.2. Significant judgements and estimations
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.  The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.  Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.
2.3. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage completion of the contract when all of the following conditions are satisfied:
 - The amount of revenue can be measured reliably
 - It is probable that the company will receive the consideration due under the contract
 - The stage of completion of the contract at the end of the reporting period can be measured reliably, and
 - The costs incurred and the costs to complete the contract can be measured reliably.
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: 
Freehold 1.05% SLM, 4% SLM
Motor Vehicles 33.33% SLM, 20% SLM
Fixtures & Fittings 15% SLM
Computer Equipment 50% SLM
The assets residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.
The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset and is included in the profit and loss account.
A change in accounting estimate has been processed in the year to change the depreciation policy on computer equipment from 15-40% SLM to 50% SLM. This change has been processed to align the writing down of the carrying value with the expected economic life of the underlying assets. The change of accounting estimate has been enacted from the start of current accounting period and has not been applied retrospectively.
As a result of the change in accounting estimate, the overall depreciation charge in the profit and loss and associated reduction in tangible fixed assets carrying value has been reduced by an additional £1,577 compared to if the previous policy had been applied. 
Page 2
Page 3
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. 
The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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
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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 12)
13 12
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 737,729 138,665 172,922 1,049,316
Additions 1,083,203 - 1,275 1,084,478
Disposals - (103,995 ) - (103,995 )
As at 31 December 2024 1,820,932 34,670 174,197 2,029,799
Depreciation
As at 1 January 2024 146,751 124,799 161,927 433,477
Provided during the period 11,495 3,467 10,048 25,010
Disposals - (93,596 ) - (93,596 )
As at 31 December 2024 158,246 34,670 171,975 364,891
Net Book Value
As at 31 December 2024 1,662,686 - 2,222 1,664,908
As at 1 January 2024 590,978 13,866 10,995 615,839
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 328,788 587,451
Prepayments and accrued income 202,199 123,042
Other debtors 79,450 2,555
Deferred tax current asset 258 258
Amounts owed by group undertakings 2,867,390 2,952,502
Amounts owed by associates 266,451 268,628
3,744,536 3,934,436
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,112 21,671
Bank loans and overdrafts 67,617 -
Other taxes and social security 29,999 38,044
VAT 26,112 58,090
Other creditors 900,000 1,200,000
Accruals and deferred income 164,567 241,701
Amounts owed to group undertakings 147,136 199,967
Amounts owed to associates 312,167 246,019
1,660,710 2,005,492
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 901,668 -
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 570,440 -
8. Secured Creditors
A bond and floating charge is held by Clydesdale Bank Plc over all present and future undertakings, property and assets of the company.
There is a Cross Guarantee between Fearnley Group International Limited and Fearnley UK Limited supported by a standard security over Unit 1, Peregrine Road, Westhill, Aberdeen, held by Fearnley UK Limited.
There is a Cross Guarantee between Fearnley Group International Limited and Fearnley UK Limited supported by a legal first charge over Lower Ground Floor Flat, 297 Westbourne Park Road, London, held by Fearnley UK Limited.
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 32,771 33,568
Later than one year and not later than five years 21,317 54,088
54,088 87,656
10. Pension Commitments
The company contributes to a money purchase pension scheme covering certain employees. The assets of the scheme are held separately from those of the company in an independent administered fund. The pensions cost charge represents contributions payable by the company to the fund. Pensions commitments outstanding at the year end are included in other creditors.
11. Related Party Transactions
During the year the company transacted with a company related through common control.  As at 31 December 2024 there is a balance of £2,793 (2023: £295,562 due to) due from Fearnley UK Limited.
During the year the company transacted with a company related through common control.  As at 31 December 2024 there is a balance of £45,432 (2023: £45,581) due to Fearnley UK Limited.
During the year the company transacted with a company related through common control.  As at 31 December 2024 there is a balance of £266,451 (2023: £268,628) due to Fearnley UK Limited.
During the year the company transacted with a company related through common control.  As at 31 December 2044 there is a balance of £312,167 (2023: £246,019) due from Fearnley UK Limited.
The above loans are interest free and repayable on demand.
12. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
13. Ultimate Controlling Party
The company's immediate parent company is Fearnley Group International Limited, a company registered in Scotland. The director recognises Fearnley International Group Limited, a company registered in Jersey, as the ultimate parent company.
Page 5
Page 6
14. Audit Information
The auditor's report on the accounts of Fearnley UK Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Alison Brown (Senior Statutory Auditor) for and on behalf of Nuvo Audit Limited , Statutory Auditor.
Nuvo Audit Limited
First Floor, Sterling House
Outrams Wharf
Little Eaton
Derby
DE21 5EL
Page 6