Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 24 December 2025 1 January 2024 31 December 2024 31 December 2024 07381686 Mr Craig Rosenberg Mr Nicholas Rowe Mr Frank Demelfi Ms Jayashri Rajagopalan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07381686 2023-12-31 07381686 2024-12-31 07381686 2024-01-01 2024-12-31 07381686 frs-core:CurrentFinancialInstruments 2024-12-31 07381686 frs-core:Non-currentFinancialInstruments 2024-12-31 07381686 frs-core:ShareCapital 2024-12-31 07381686 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07381686 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07381686 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07381686 frs-bus:SmallEntities 2024-01-01 2024-12-31 07381686 frs-bus:Audited 2024-01-01 2024-12-31 07381686 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07381686 1 2024-01-01 2024-12-31 07381686 frs-bus:Director1 2024-01-01 2024-12-31 07381686 frs-bus:Director2 2024-01-01 2024-12-31 07381686 frs-bus:Director3 2024-01-01 2024-12-31 07381686 frs-bus:Director4 2024-01-01 2024-12-31 07381686 frs-core:CurrentFinancialInstruments 1 2024-12-31 07381686 frs-countries:EnglandWales 2024-01-01 2024-12-31 07381686 2022-12-31 07381686 2023-12-31 07381686 2023-01-01 2023-12-31 07381686 frs-core:CurrentFinancialInstruments 2023-12-31 07381686 frs-core:Non-currentFinancialInstruments 2023-12-31 07381686 frs-core:ShareCapital 2023-12-31 07381686 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07381686 frs-core:CurrentFinancialInstruments 1 2023-12-31 07381686 frs-core:CurrentFinancialInstruments 2 2023-12-31
Registered number: 07381686
Simeio Solutions Limited
Financial Statements
For The Year Ended 31 December 2024
Simeio Solutions Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—5

Page 1
Simeio Solutions Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 07381686

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
CURRENT ASSETS
Debtors | 4 | 1,390,712 |  | 1,072,947 |
Cash at bank and in hand |  | 279,301 |  | 985,958 |
|  | 1,670,013 |  | 2,058,905 |
Creditors: Amounts Falling Due Within One Year | 5 | (1,356,842 ) |  | (1,697,588 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 313,171 |  | 361,317
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 313,171 |  | 361,317
Creditors: Amounts Falling Due After More Than One Year | 6 |  | (927,380 ) |  | (933,833 )
NET LIABILITIES |  |  | (614,209 ) |  | (572,516 )
CAPITAL AND RESERVES
Called up share capital | 7 |  | 1,000 |  | 1,000
Profit and Loss Account |  |  | (615,209 ) |  | (573,516 )
SHAREHOLDERS' FUNDS |  |  | (614,209) |  | (572,516)

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

Ms Jayashri Rajagopalan Director
24/12/2025

The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Simeio Solutions Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Simeio Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07381686 . The registered office is 35 New Broad Street, London, EC2M 1NH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The accounts are presented in £ sterling rounded to the nearest pound.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
2.2. Going Concern Disclosure
These financial statements are prepared on the going concern basis. Directors have a reasonable expectation that the
company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
Due to the company’s current and prior period trading losses and negative reserves after the year end, it continues to be reliant on its parent company for funding.
The directors have assessed the financial position and cash flow forecast for the parent company and group. The directors believe that existing cash will be sufficient to fund operations through at least 12 months following the approval date of these financial statements, based upon the parent company's ability to support the company's operations with additional funds as required.
The accompanying financial statements have been prepared assuming the company will continue as a going concern, which contemplates the realisation of assets and the satisfaction of liabilities in the normal course of business.
2.3. Turnover
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The company recognises revenue when it transfers control of a product or service to a customer.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
The company recognises revenue from the following major sources: contracts with customers.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Revenue is measured at the fair value of the consideration received or receivable and represents amount receivable for services rendered, net of discounts, returns and Value Added Taxes (VAT). The company recognises revenue when the amount of revenue can be reliably measured; when it is probable that future economic benefits will flow to the entity; and when specific criteria have been met for each of the company activities as described below:
Revenue from providing services is recognised in the accounting period in which the services are rendered.
Invoices are either raised in advance or once performance obligations have been completed.
Payment Terms are depending on the contract but typically 30 or 60 days.
2.4. Leasing and Hire Purchase Contracts
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
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Simeio Solutions Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditor, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.6. Foreign Currencies
Transactions in currencies other pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2.7. 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.
2.8. Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Page 3
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Simeio Solutions 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: 6 (2023: 3)
6 3
4. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 250,101 |  | 205,333
Prepayments and accrued income | 168,464 |  | 279,546
Deferred tax current asset | 284,000 |  | -
Called up share capital not paid | 1,000 |  | 1,000
| 703,565 |  | 485,879
Due after more than one year
Amounts owed by group undertakings | 687,147 |  | 587,068
| 1,390,712 |  | 1,072,947

5. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 83,005 |  | 19,049
Other taxes and social security | - |  | 3,847
VAT | 9,649 |  | 5,381
Other creditors | 5,661 |  | -
Deferred Income | 1,238,839 |  | 1,650,766
Pension Liability | - |  | 10
Accruals | 19,688 |  | 18,535
| 1,356,842 |  | 1,697,588

6. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Amounts owed to group undertakings | 927,380 |  | 933,833

7. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Called Up Share Capital not Paid | 1,000 |  | 1,000
Amount of Allotted, Called Up Share Capital | 1,000 |  | 1,000

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Simeio Solutions Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
8. Related Party Transactions
Simeio Netherlands is a branch of Simeio Solutions Limited and all income and costs for the year relating to the branch has
been included.
Simeio Solutions LLC provided IT services and management support to Simeio Solutions Limited in the year to a value of
£436,917 (2023:£301,063).
Simeio Solutions Ltd Creditor balance with Simeio Solutions LLC as at 31st December 2024 is £445,590 (2023: £283,915 ).
Simeio Solutions Ltd Loan to Simeio Soutions LLC has been reduced to £370,086 (2023:£558,646).
Simeio Solutions Pvt India provided IT Services to Simeio Solutions Limited totalling £744,939 (2023: £976,764). and Simeio Solutions Limited Creditor balance with Simeio Solutions Pvt India as at 31st December 2024 is £321,720 (2023:£499,165).
During the year Simeo Solutions UK Ltd provided a loan of £240,135 (2023: £nil) to Simeio Solutions Canada.
Simeio Solutions Dubai Balance increased from £150,752 to £160,070 following restatement due to foreign exchange translation.
9. Ultimate Controlling Party
The Parent Company is Simeio LLC a company registered USA. Address is 11720 Amber Park Dr, Suite 400, Alpharetta, GA 30009. The directors do not consider there to be one ultimate controlling party.
10. Audit Information
The auditor's report on the accounts of Simeio Solutions Limited for the year ended 31 December 2024 was unqualified.
Please refer to Note 10 Material uncertainty related to Going Concern.
The auditor's report was signed by Paul Francis FCA (Senior Statutory Auditor) for and on behalf of Hill Osborne Ltd , Statutory Auditor.

Hill Osborne Ltd 2 Winchester Place North Street Poole BH15 1NX

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