Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 SC597529 Dr Lorenzo Conti Dr Jonathan Knight Mr Artem Lukianov iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC597529 2024-03-31 SC597529 2025-03-31 SC597529 2024-04-01 2025-03-31 SC597529 frs-core:CurrentFinancialInstruments 2025-03-31 SC597529 frs-core:Non-currentFinancialInstruments 2025-03-31 SC597529 frs-core:ComputerEquipment 2025-03-31 SC597529 frs-core:ComputerEquipment 2024-04-01 2025-03-31 SC597529 frs-core:ComputerEquipment 2024-03-31 SC597529 frs-core:PlantMachinery 2025-03-31 SC597529 frs-core:PlantMachinery 2024-04-01 2025-03-31 SC597529 frs-core:PlantMachinery 2024-03-31 SC597529 frs-core:SharePremium 2025-03-31 SC597529 frs-core:ShareCapital 2025-03-31 SC597529 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 SC597529 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC597529 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 SC597529 frs-bus:SmallEntities 2024-04-01 2025-03-31 SC597529 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC597529 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC597529 frs-core:CostValuation 2024-03-31 SC597529 frs-core:AdditionsToInvestments 2025-03-31 SC597529 frs-core:CostValuation 2025-03-31 SC597529 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 SC597529 frs-core:ProvisionsForImpairmentInvestments 2025-03-31 SC597529 frs-bus:Director1 2024-04-01 2025-03-31 SC597529 frs-bus:Director2 2024-04-01 2025-03-31 SC597529 frs-bus:Director3 2024-04-01 2025-03-31 SC597529 frs-countries:Scotland 2024-04-01 2025-03-31 SC597529 2023-03-31 SC597529 2024-03-31 SC597529 2023-04-01 2024-03-31 SC597529 frs-core:CurrentFinancialInstruments 2024-03-31 SC597529 frs-core:Non-currentFinancialInstruments 2024-03-31 SC597529 frs-core:SharePremium 2024-03-31 SC597529 frs-core:ShareCapital 2024-03-31 SC597529 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: SC597529
Crover Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC597529
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,913 39,654
Investments 5 13,520 -
32,433 39,654
CURRENT ASSETS
Debtors 6 371,689 201,576
Cash at bank and in hand 205,260 92,221
576,949 293,797
Creditors: Amounts Falling Due Within One Year 7 (567,915 ) (143,039 )
NET CURRENT ASSETS (LIABILITIES) 9,034 150,758
TOTAL ASSETS LESS CURRENT LIABILITIES 41,467 190,412
Creditors: Amounts Falling Due After More Than One Year 8 (108,670 ) (111,995 )
NET (LIABILITIES)/ASSETS (67,203 ) 78,417
CAPITAL AND RESERVES
Called up share capital 9 129 129
Share premium account 403,855 403,855
Profit and Loss Account (471,187 ) (325,567 )
SHAREHOLDERS' FUNDS (67,203) 78,417
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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 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
Dr Lorenzo Conti
Director
18/08/2025
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
Crover Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC597529 . The registered office is The National Robotarium, Boundary Road North, Third Gait, Edinburgh, EH14 4AS.
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. 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:
Plant & Machinery 25% Straight Line
Computer Equipment 25% Straight Line
2.3. 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: 13 (2024: 13)
13 13
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 77,859 27,313 105,172
Additions 466 541 1,007
As at 31 March 2025 78,325 27,854 106,179
Depreciation
As at 1 April 2024 43,843 21,675 65,518
Provided during the period 17,555 4,193 21,748
As at 31 March 2025 61,398 25,868 87,266
...CONTINUED
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Net Book Value
As at 31 March 2025 16,927 1,986 18,913
As at 1 April 2024 34,016 5,638 39,654
5. Investments
Subsidiaries
£
Cost
As at 1 April 2024 -
Additions 13,520
As at 31 March 2025 13,520
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 13,520
As at 1 April 2024 -
The company holds 100% of the issued share capital of Crover Inc, a company incorporated in the Philippines. The company holds 100% of the issued share capital of Crover Corp, a company incorporated in the USA. The investment for Crover Inc was made during the year, while for Crover Corp, the investment was made in 2024 financial year. Investments are carried at cost. No impairment indicators have been identified.
Crover Inc is engaged in robotic systems engineering. The registered office of the subsidiary is Unit 604 The Infinity, 26th St., Bonifacio Global City 1634.
Crover Corp is engaged in robotic systems engineering. The registered office of the subsidiary is 8 Brunson Way, Penfield, NY 14526.
The company has not prepared consolidated financial statements as it qualifies for exemption as a small group under section 399 of the Companies Act 2006.
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 371,689 201,576
Debtors include the following balances due from group undertakings:
Amounts due from Subsidiary Crover Corp (USA): £135,797 (2024 - £39,610)
Amounts due from Subsidiary Crover Inc (Philippines): £47,353 (2024 - £Nil)
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 6,335 2,893
Bank loans and overdrafts 3,542 3,542
Other creditors 546,112 124,268
Taxation and social security 11,926 12,336
567,915 143,039
During the year, the company received £423,279 (2024 - £99,260) under an advanced subscription agreement . The total amount of £522,539 (2024 - £99,260) represents funds provided by investors in exchange for the future issue of shares.
At the balance sheet date, the shares had not yet been issued, and the amount is presented as a liability within creditors pending share issue, as the company has an obligation to repay if no share issue occurs.
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 3,361 6,686
Other creditors 105,309 105,309
108,670 111,995
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 129 129
10. Related Party Transactions
During the year, the company advanced the following interest-free loans to its wholly owned subsidiaries:
A loan of £96,187 (2024 - £39,610) to Crover Corp, incorporated in the United States of America.
A loan of £47,353 (2024 - £Nil) to Crover Inc, incorporated in the Philippines.
Both loans are unsecured, interest-free, and repayable on demand.
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