Acorah Software Products - Accounts Production 16.7.461 false true true 30 April 2024 1 May 2023 false 1 May 2024 30 April 2025 30 April 2025 SC694762 Mr Robert Davidson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC694762 2024-04-30 SC694762 2025-04-30 SC694762 2024-05-01 2025-04-30 SC694762 frs-core:CurrentFinancialInstruments 2025-04-30 SC694762 frs-core:Non-currentFinancialInstruments 2025-04-30 SC694762 frs-core:OtherResidualIntangibleAssets 2025-04-30 SC694762 frs-core:OtherResidualIntangibleAssets 2024-05-01 2025-04-30 SC694762 frs-core:OtherResidualIntangibleAssets 2024-04-30 SC694762 frs-core:SharePremium 2025-04-30 SC694762 frs-core:ShareCapital 2025-04-30 SC694762 frs-core:RetainedEarningsAccumulatedLosses 2025-04-30 SC694762 frs-bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 SC694762 frs-bus:FilletedAccounts 2024-05-01 2025-04-30 SC694762 frs-bus:SmallEntities 2024-05-01 2025-04-30 SC694762 frs-bus:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 SC694762 frs-bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 SC694762 frs-bus:Director1 2024-05-01 2025-04-30 SC694762 frs-countries:Scotland 2024-05-01 2025-04-30 SC694762 2023-04-30 SC694762 2024-04-30 SC694762 2023-05-01 2024-04-30 SC694762 frs-core:CurrentFinancialInstruments 2024-04-30 SC694762 frs-core:Non-currentFinancialInstruments 2024-04-30 SC694762 frs-core:SharePremium 2024-04-30 SC694762 frs-core:ShareCapital 2024-04-30 SC694762 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30
Registered number: SC694762
Tax Torch Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Robert Davidson
Company Number SC694762
Registered Office 194 Quarry Street
Hamilton
Scotland
ML3 6QR
Page 1
Page 2
Balance Sheet
Registered number: SC694762
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 141,435 76,275
141,435 76,275
CURRENT ASSETS
Debtors 5 22 770
Cash at bank and in hand 4,768 541
4,790 1,311
Creditors: Amounts Falling Due Within One Year 6 (10,748 ) 1,988
NET CURRENT ASSETS (LIABILITIES) (5,958 ) 3,299
TOTAL ASSETS LESS CURRENT LIABILITIES 135,477 79,574
Creditors: Amounts Falling Due After More Than One Year 7 (35,000 ) -
NET ASSETS 100,477 79,574
CAPITAL AND RESERVES
Called up share capital 8 1 1
Share premium account 100,000 100,000
Profit and Loss Account 476 (20,427 )
SHAREHOLDERS' FUNDS 100,477 79,574
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For the year ending 30 April 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
Mr Robert Davidson
Director
05/12/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Tax Torch Limited is a private company, limited by shares, incorporated in Scotland, registered number SC694762 . The registered office is 194 Quarry Street, Hamilton, Scotland, ML3 6QR.
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 financial statements have been prepared on a going concern basis.
The company is currently experiencing cash flow pressures as a result of higher than anticipated development costs and lower than expected uptake in licence income. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern.
The directors are actively exploring options to secure additional funding and have implemented measures to reduce costs. In addition, a short-term loan has been provided by a company controlled by one of the directors to support working capital requirements. Based on the current forecasts and the availability of potential funding, the directors believe that the company will be able to continue to meet its obligations as they fall due for at least twelve months from the date of approval of these financial statements.
Accordingly, the directors consider that it remains appropriate to prepare the financial statements on a going concern basis. However, the matters described above indicate the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
The preparation of financial statements in compliance with FRS102 require the use of certain critical estimates, if necessary.  It also requires management to exercise judgement in applying the company accounting policies.
2.4. 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.
2.5. 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 the profit and loss account on a straight line basis over their expected useful economic life of 10 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.
2.6. Financial Instruments
Financial liability and equity instruments are classified according to the terms and substance of the
contractual arrangement. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities
2.7. Foreign Currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of
the transaction. At the end of each reporting period foreign currency monetary items are translated at
the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at
the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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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.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 May 2024 91,091
Additions 77,576
As at 30 April 2025 168,667
Amortisation
As at 1 May 2024 14,816
Provided during the period 12,416
As at 30 April 2025 27,232
Net Book Value
As at 30 April 2025 141,435
As at 1 May 2024 76,275
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5. Debtors
2025 2024
£ £
Due within one year
Other debtors 22 770
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 220 174
Bank loans and overdrafts 10,500 -
Other creditors 28 -
Taxation and social security - (2,162 )
10,748 (1,988 )
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 35,000 -
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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