Acorah Software Products - Accounts Production 16.6.920 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 01523835 Mr Bruno Finzi Mr Patrick Lindqvist Mr Hans-Eckhard von der Mosel Mr Matt Gallagher false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01523835 2023-12-31 01523835 2024-12-31 01523835 2024-01-01 2024-12-31 01523835 frs-core:CurrentFinancialInstruments 2024-12-31 01523835 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 01523835 frs-bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 01523835 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 01523835 frs-bus:SmallEntities 2024-01-01 2024-12-31 01523835 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01523835 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01523835 1 2024-01-01 2024-12-31 01523835 frs-bus:Director1 2024-01-01 2024-12-31 01523835 frs-bus:Director2 2024-01-01 2024-12-31 01523835 frs-bus:Director3 2024-01-01 2024-12-31 01523835 frs-bus:Director4 2024-01-01 2024-12-31 01523835 frs-countries:EnglandWales 2024-01-01 2024-12-31 01523835 2022-12-31 01523835 2023-12-31 01523835 2023-01-01 2023-12-31 01523835 frs-core:CurrentFinancialInstruments 2023-12-31 01523835 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 01523835
Offshore Racing Congress Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Accountum Limited
Offshore Racing Congress Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—3

Page 1
Offshore Racing Congress Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 01523835

| 2024 | 2023
--- | --- | ---
| Notes | € | € | € | €
CURRENT ASSETS
Debtors | 4 | 78,752 |  | 83,453 |
Cash at bank and in hand |  | 929,351 |  | 919,169 |
|  | 1,008,103 |  | 1,002,622 |
Creditors: Amounts Falling Due Within One Year | 5 | (66,044 ) |  | (55,348 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 942,059 |  | 947,274
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 942,059 |  | 947,274
NET ASSETS |  |  | 942,059 |  | 947,274
Income and Expenditure Account |  |  | 942,059 |  | 947,274
MEMBERS' FUNDS |  |  | 942,059 |  | 947,274

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 Income and Expenditure Account.
On behalf of the board

Mr Patrick Lindqvist Director
04/11/2025

The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Offshore Racing Congress Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Offshore Racing Congress Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 01523835 . The registered office is Sweden house, 5 Upper Montagu Street, London, United Kingdom, W1H 2AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
These financial statements are presented in the company's prime currency of trade, which is Euros (€).
2.2. 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.
2.3. 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 surplus.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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 surplus. 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 surplus 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 surplus 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 asset reflects 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 or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.6. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Page 2
Page 3
Offshore Racing Congress Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| € |  | €
Due within one year
Trade debtors | 78,702 |  | 83,453
Other debtors | 50 |  | -
| 78,752 |  | 83,453

5. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| € |  | €
Trade creditors | 55,323 |  | 41,616
Corporation tax | 8,297 |  | 9,421
Other taxes and social security | 1,320 |  | 3,207
Accruals and deferred income | 1,104 |  | 1,104
| 66,044 |  | 55,348

6. Related Party Transactions
There were no related party transactions other than those carried out at normal commercial rates.
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding €1.
8. Controlling Party
There is no ultimate controlling party.
Page 3