Acorah Software Products - Accounts Production 16.7.461 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 12681767 Mr Simon Williams Mr Simon Williams Mr Mitchell Fisher Mr Barry Sawers Mr Barry Sawers iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12681767 2023-12-31 12681767 2024-12-31 12681767 2024-01-01 2024-12-31 12681767 frs-core:CurrentFinancialInstruments 2024-12-31 12681767 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 12681767 frs-core:OtherResidualIntangibleAssets 2024-12-31 12681767 frs-core:OtherResidualIntangibleAssets 2023-12-31 12681767 frs-core:ShareCapital 2024-12-31 12681767 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12681767 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12681767 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12681767 frs-bus:SmallEntities 2024-01-01 2024-12-31 12681767 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12681767 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12681767 frs-bus:Director1 2024-01-01 2024-12-31 12681767 frs-bus:Director1 2023-12-31 12681767 frs-bus:Director1 2024-12-31 12681767 frs-bus:Director2 2024-01-01 2024-12-31 12681767 frs-bus:Director3 2024-01-01 2024-12-31 12681767 frs-countries:EnglandWales 2024-01-01 2024-12-31 12681767 2022-12-31 12681767 2023-12-31 12681767 2023-01-01 2023-12-31 12681767 frs-core:CurrentFinancialInstruments 2023-12-31 12681767 frs-core:ShareCapital 2023-12-31 12681767 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 12681767
Saw-Tec Network Solutions Ltd
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12681767
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 98,697 98,697
98,697 98,697
CURRENT ASSETS
Stocks 5 2,000 2,000
Debtors 6 423,466 756,889
Cash at bank and in hand 376,298 336,383
801,764 1,095,272
Creditors: Amounts Falling Due Within One Year 7 (388,773 ) (617,558 )
NET CURRENT ASSETS (LIABILITIES) 412,991 477,714
TOTAL ASSETS LESS CURRENT LIABILITIES 511,688 576,411
NET ASSETS 511,688 576,411
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 511,588 576,311
SHAREHOLDERS' FUNDS 511,688 576,411
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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 Simon Williams
Director
Mr Simon Williams
Director
30/12/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Saw-Tec Network Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12681767 . The registered office is 483 Green Lanes, London Green Lanes, London, N13 4BS.
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. 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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are crypto-currencies. Crypto-currencies have not been amortised as their useful life cannot be reliably estimated. As this asset class is being held as a long term asset for resale, it will be held at cost unless any impairment is necessary. The intangible asset will be assessed for impairment at the end of each year.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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.
2.6. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Other
£
Cost or Valuation
As at 1 January 2024 98,697
As at 31 December 2024 98,697
Net Book Value
As at 31 December 2024 98,697
As at 1 January 2024 98,697
Cryptocurrencies, not amortised
5. Stocks
2024 2023
£ £
Stock 2,000 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 27,120 400,244
Other debtors 396,346 356,645
423,466 756,889
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,363 30,028
Other loans 151,265 151,265
Other creditors 700 3,714
Taxation and social security 235,445 432,551
388,773 617,558
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Simon Williams 356,645 19,947 171,190 - 205,402
Mr Simon Williams 356,645 19,947 171,190 - 205,402
The above loan is unsecured, interest free and repayable on demand.
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