Acorah Software Products - Accounts Production 16.5.460 false true true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 10696351 K A McCabe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10696351 2024-03-31 10696351 2025-03-31 10696351 2024-04-01 2025-03-31 10696351 frs-core:CurrentFinancialInstruments 2025-03-31 10696351 frs-core:Non-currentFinancialInstruments 2025-03-31 10696351 frs-core:ComputerEquipment 2025-03-31 10696351 frs-core:ComputerEquipment 2024-04-01 2025-03-31 10696351 frs-core:ComputerEquipment 2024-03-31 10696351 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2025-03-31 10696351 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-04-01 2025-03-31 10696351 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 10696351 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 10696351 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 10696351 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 10696351 frs-core:SharePremium 2025-03-31 10696351 frs-core:ShareCapital 2025-03-31 10696351 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 10696351 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10696351 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 10696351 frs-bus:SmallEntities 2024-04-01 2025-03-31 10696351 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10696351 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10696351 frs-bus:Director1 2024-04-01 2025-03-31 10696351 frs-core:CurrentFinancialInstruments 1 2025-03-31 10696351 frs-countries:EnglandWales 2024-04-01 2025-03-31 10696351 2023-03-31 10696351 2024-03-31 10696351 2023-04-01 2024-03-31 10696351 frs-core:CurrentFinancialInstruments 2024-03-31 10696351 frs-core:Non-currentFinancialInstruments 2024-03-31 10696351 frs-core:SharePremium 2024-03-31 10696351 frs-core:ShareCapital 2024-03-31 10696351 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10696351 frs-core:CurrentFinancialInstruments 1 2024-03-31
Registered number: 10696351
SIMPLIFAI SYSTEMS LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2025
Michael Price Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10696351
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 847,509 589,235
Tangible Assets 5 888 1,110
848,397 590,345
CURRENT ASSETS
Debtors 6 106,030 30,382
106,030 30,382
Creditors: Amounts Falling Due Within One Year 7 (437,373 ) (675,729 )
NET CURRENT ASSETS (LIABILITIES) (331,343 ) (645,347 )
TOTAL ASSETS LESS CURRENT LIABILITIES 517,054 (55,002 )
Creditors: Amounts Falling Due After More Than One Year 8 - (11,354 )
NET ASSETS/(LIABILITIES) 517,054 (66,356 )
CAPITAL AND RESERVES
Called up share capital 9 79,807 261
Share premium account 2,186,190 1,565,736
Profit and Loss Account (1,748,943 ) (1,632,353 )
SHAREHOLDERS' FUNDS 517,054 (66,356)
Page 1
Page 2
For the year ending 31 March 2025 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
K A McCabe
Director
07/10/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SIMPLIFAI SYSTEMS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 10696351 . The registered office is 3m Buckley Innovation Centre, Firth Street, Huddersfield, HD1 3BD.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are amortised to the profit and loss account over its estimated economic life of 15 years.
2.6. 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 20% Reducing Balance
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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: 5 (2024: 5)
5 5
4. Intangible Assets
Development Costs Intellectual Property Total
£ £ £
Cost
As at 1 April 2024 - 602,625 602,625
Additions 298,443 - 298,443
As at 31 March 2025 298,443 602,625 901,068
Amortisation
As at 1 April 2024 - 13,390 13,390
Provided during the period - 40,169 40,169
As at 31 March 2025 - 53,559 53,559
Net Book Value
As at 31 March 2025 298,443 549,066 847,509
As at 1 April 2024 - 589,235 589,235
Intellectual Property 15 years straight line
Development Costs 10 years straight line
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2024 1,353
As at 31 March 2025 1,353
Depreciation
As at 1 April 2024 243
Provided during the period 222
As at 31 March 2025 465
Net Book Value
As at 31 March 2025 888
As at 1 April 2024 1,110
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 9,749
Prepayments and accrued income 75,767 1,466
Rent Deposit - 2,287
VAT 30,263 16,880
106,030 30,382
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 179,992 123,936
Bank loans and overdrafts 34,412 361,660
Bounce Back loan 4,520 8,294
Other taxes and social security 69,456 48,276
Net wages 21,605 20,401
Simplifai Credit Card 1501 20,662 18,202
Accruals and deferred income 81,289 68,030
Director's loan account 25,437 26,930
437,373 675,729
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 11,354
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9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 79,807 261
Page 6