Acorah Software Products - Accounts Production 16.7.461 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 10070410 Mr Remo Zerbini Mr Ferdinando Fusaro Mr Ezio Luigi FABIANI true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10070410 2023-12-31 10070410 2024-12-31 10070410 2024-01-01 2024-12-31 10070410 frs-core:CurrentFinancialInstruments 2024-12-31 10070410 frs-core:Non-currentFinancialInstruments 2024-12-31 10070410 frs-core:ComputerEquipment 2024-12-31 10070410 frs-core:ComputerEquipment 2024-01-01 2024-12-31 10070410 frs-core:ComputerEquipment 2023-12-31 10070410 frs-core:FurnitureFittings 2024-12-31 10070410 frs-core:FurnitureFittings 2024-01-01 2024-12-31 10070410 frs-core:FurnitureFittings 2023-12-31 10070410 frs-core:OtherResidualIntangibleAssets 2024-12-31 10070410 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 10070410 frs-core:OtherResidualIntangibleAssets 2023-12-31 10070410 frs-core:SharePremium 2024-12-31 10070410 frs-core:ShareCapital 2024-12-31 10070410 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10070410 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10070410 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10070410 frs-bus:SmallEntities 2024-01-01 2024-12-31 10070410 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10070410 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10070410 1 2024-01-01 2024-12-31 10070410 frs-bus:Director1 2024-01-01 2024-12-31 10070410 frs-bus:Director2 2024-01-01 2024-12-31 10070410 frs-bus:Director3 2024-01-01 2024-12-31 10070410 frs-core:Non-currentFinancialInstruments 1 2024-12-31 10070410 frs-core:Non-currentFinancialInstruments 2 2024-12-31 10070410 frs-core:CurrentFinancialInstruments 6 2024-12-31 10070410 frs-core:CurrentFinancialInstruments 7 2024-12-31 10070410 frs-countries:EnglandWales 2024-01-01 2024-12-31 10070410 2022-12-31 10070410 2023-12-31 10070410 2023-01-01 2023-12-31 10070410 frs-core:CurrentFinancialInstruments 2023-12-31 10070410 frs-core:Non-currentFinancialInstruments 2023-12-31 10070410 frs-core:SharePremium 2023-12-31 10070410 frs-core:ShareCapital 2023-12-31 10070410 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10070410 frs-core:Non-currentFinancialInstruments 1 2023-12-31 10070410 frs-core:Non-currentFinancialInstruments 2 2023-12-31 10070410 frs-core:CurrentFinancialInstruments 6 2023-12-31 10070410 frs-core:CurrentFinancialInstruments 7 2023-12-31
Registered number: 10070410
Re Mago Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10070410
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 50,000
Tangible Assets 5 16,929 2,066
16,929 52,066
CURRENT ASSETS
Debtors 6 1,338,400 1,183,265
Cash at bank and in hand 126,668 101,937
1,465,068 1,285,202
Creditors: Amounts Falling Due Within One Year 7 (1,534,067 ) (1,411,309 )
NET CURRENT ASSETS (LIABILITIES) (68,999 ) (126,107 )
TOTAL ASSETS LESS CURRENT LIABILITIES (52,070 ) (74,041 )
Creditors: Amounts Falling Due After More Than One Year 8 (3,137,815 ) (1,651,535 )
NET LIABILITIES (3,189,885 ) (1,725,576 )
CAPITAL AND RESERVES
Called up share capital 9 1,951,781 1,951,781
Share premium account 567,817 567,817
Profit and Loss Account (5,709,483 ) (4,245,174 )
SHAREHOLDERS' FUNDS (3,189,885) (1,725,576)
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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 Profit and Loss Account.
On behalf of the board
Mr Ferdinando Fusaro
Director
19/12/2025
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
Re Mago Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10070410 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.
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. 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:
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
2.5. 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 profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 50,000
Disposals (50,000 )
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 50,000
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 6,582 - 6,582
Additions - 14,863 14,863
As at 31 December 2024 6,582 14,863 21,445
Depreciation
As at 1 January 2024 4,516 - 4,516
As at 31 December 2024 4,516 - 4,516
Net Book Value
As at 31 December 2024 2,066 14,863 16,929
As at 1 January 2024 2,066 - 2,066
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 36,625 29,732
Prepayments and accrued income - 4,317
Other debtors 817,971 652,200
Loan to re mago SRL 3,165 1,479
Loan to Re Mago Inc. 349,582 -
Corporation tax recoverable assets - 369,203
VAT 16,787 8,391
Other taxes and social security - 3,764
Amounts owed by other participating interests 114,270 114,179
1,338,400 1,183,265
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 38,589 192,642
Bank loans and overdrafts 25,962 30,923
Accruals and deferred income 372,985 91,333
Amounts owed to related parties 1,096,531 1,096,411
1,534,067 1,411,309
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Deltaspin Loan 1,228,126 1,228,126
Loan from An Idea Lives On 1,909,689 423,409
3,137,815 1,651,535
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,951,781 1,951,781
10. Related Party Transactions
VALAREA'N LIMITED is the 100% holding company of Re Mago Ltd. During the year company has further taken the loan amounting to £ 120 from the VALAREA'N LIMITED which resulted in to closing balance of £ 1,096,531 (2023: £1,096,411) which is included in note 7 of above.
11. Ultimate Controlling Party
The company's ultimate controlling party is An Idea Lives On Ltd by virtue of his ownership of 75% or more of the issued share capital in the company.
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