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Registered number: 07079205
Red Pill Productions Limited
Unaudited Financial Statements
For the Period 1 January 2024 to 30 June 2024
The Wow Company UK Ltd
3rd Floor, 86-90 Paul Street
London
EC2A 4NE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07079205
30 June 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 386,462 407,922
Tangible Assets 5 43,672 34,173
430,134 442,095
CURRENT ASSETS
Debtors 6 419,703 504,167
Cash at bank and in hand 1,534,875 1,797,192
1,954,578 2,301,359
Creditors: Amounts Falling Due Within One Year 7 (683,057 ) (400,951 )
NET CURRENT ASSETS (LIABILITIES) 1,271,521 1,900,408
TOTAL ASSETS LESS CURRENT LIABILITIES 1,701,655 2,342,503
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (111,000 ) (111,000 )
NET ASSETS 1,590,655 2,231,503
CAPITAL AND RESERVES
Called up share capital 3 3
Profit and Loss Account 1,590,652 2,231,500
SHAREHOLDERS' FUNDS 1,590,655 2,231,503
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For the period ending 30 June 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 Profit and Loss Account.
On behalf of the board
Mr Liam Corrigan
Director
16 December 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Red Pill Productions Limited is a private company, limited by shares, incorporated in England & Wales, the registered number is 07079205 . The registered office is Runway East Aldgate East, 2 Whitechapel Road, London, E1 1EW.
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.
These financial statements are prepared for the 6 month period ended 30 June 2024. The comparative figures represent the 12 month period ended 31 December 2023.
As a result, the amounts presented in the financial statements are not directly comparable between periods.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of assets to their residual values over their estimated useful life of 10 years.
Costs associated with maintaining computer software are recognised as an expense incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the company are recognised as intangible assets where the relevant criteria under FRS 102 are met.
2.4. Research and Development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
2.5. 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 and machinery 25% straight line & 20% straight line
Fixtures and fittings 33% straight line
Computer equipment 33% straight line
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2.6. 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 the profit and loss account as incurred.
2.7. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.
2.8. Foreign Currencies
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.
2.9. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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 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.
Deferred tax is only adjusted if the change in the timing difference is material.
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2.10. 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.
3. Average Number of Employees
30 June 2024 31 December 2023
Average number of employees, including directors, during the year 24 22
24 22
4. Intangible Assets
Development costs
£
Cost
As at 1 January 2024 429,186
As at 30 June 2024 429,186
Amortisation
As at 1 January 2024 21,264
Provided during the period 21,460
As at 30 June 2024 42,724
Net Book Value
As at 30 June 2024 386,462
As at 1 January 2024 407,922
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5. Tangible Assets
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 January 2024 - 59,278 24,185 83,463
Additions 14,158 2,089 3,559 19,806
As at 30 June 2024 14,158 61,367 27,744 103,269
Depreciation
As at 1 January 2024 - 44,320 4,970 49,290
Provided during the period 252 5,911 4,144 10,307
As at 30 June 2024 252 50,231 9,114 59,597
Net Book Value
As at 30 June 2024 13,906 11,136 18,630 43,672
As at 1 January 2024 - 14,958 19,215 34,173
6. Debtors
30 June 2024 31 December 2023
£ £
Due within one year
Trade debtors 263,517 424,190
Other debtors 156,186 79,977
419,703 504,167
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 31 December 2023
£ £
Trade creditors 202,303 125,609
Other creditors 446,788 199,578
Taxation and social security 33,966 75,764
683,057 400,951
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8. Deferred Taxation
We have calculated deferred tax but not recorded the movement in accounts for current year and carried forward the deferred tax liability to next year due to losses in current year.
The provision for deferred tax is made up as follows:
30 June 2024 31 December 2023
£ £
Other timing differences 111,000 111,000
9. Directors Advances, Credits and Guarantees
Included within creditors are loans made to director. The balance at the period end was £3,491 (2023 : £1,543).
The above loan is unsecured, interest free and repayable on demand.
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