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Registered number: 10915051
ASI Wise Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2025
Buxton Accounting LLP
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—6
Page 1
Company Information
Directors Ms Amanda Adamson
Mrs Kathryn Smith
Mrs Rosalind Urwin
Secretary Mrs Rosalind Urwin
Company Number 10915051
Registered Office 98 Middlewich Road
Northwich
Cheshire
CW9 7DA
Accountants Buxton Accounting LLP
Chartered Accountants
98 Middlewich Road
Northwich
Cheshire
CW9 7DA
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Balance Sheet
Registered number: 10915051
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 167,424 -
Tangible Assets 5 15,257 31,661
182,681 31,661
CURRENT ASSETS
Debtors 6 119,204 149,998
Cash at bank and in hand 282,164 340,914
401,368 490,912
Creditors: Amounts Falling Due Within One Year 7 (637,652 ) (514,332 )
NET CURRENT ASSETS (LIABILITIES) (236,284 ) (23,420 )
TOTAL ASSETS LESS CURRENT LIABILITIES (53,603 ) 8,241
NET (LIABILITIES)/ASSETS (53,603 ) 8,241
Income and Expenditure Account (53,603 ) 8,241
MEMBERS' FUNDS (53,603) 8,241
For the year ending 31 August 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 Income and Expenditure Account.
The financial statements were approved by the board of directors on 29 May 2025 and were signed on its behalf by:
Mrs Kathryn Smith
Director
29/05/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
ASI Wise Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 10915051 . The registered office is 98 Middlewich Road, Northwich, Cheshire, CW9 7DA.
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. Research and Development
During the year , the company reviewed its accounting policy for research and development expenditure. Historically. All R&D costs were expensed as incurred. Following this review , the directors concluded that development expenditure meeting the recognition criteria in FRS 102 Section 18 should be capitalised as an Intangible Asset .This change aligns the Financial Statements more closely with the economic benefits expected to arise from qualifying development projects and is considered to provide more reliable and relevant information to users of the accounts.
Reason for Prior Year Adjustment . As this represents a change in accounting policy FRS 102 Section 10 requires retrospective application. Comparative figures have therefore been restated and opening reserves adjusted accordingly.
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 25% on cost
Computer Equipment 25% on cost
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 surplus.
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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 surplus for the year. Taxable surplus differs from surplus 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 surplus. 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 surplus 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 surplus 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 surplus or deficit 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the Income and Expenditure Account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Intangible Assets
Development Costs
£
Cost
As at 1 September 2024 -
Additions 167,424
As at 31 August 2025 167,424
Net Book Value
As at 31 August 2025 167,424
As at 1 September 2024 -
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2024 923 105,379 106,302
Additions - 5,554 5,554
As at 31 August 2025 923 110,933 111,856
Depreciation
As at 1 September 2024 923 73,718 74,641
Provided during the period - 21,958 21,958
As at 31 August 2025 923 95,676 96,599
Net Book Value
As at 31 August 2025 - 15,257 15,257
As at 1 September 2024 - 31,661 31,661
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 76,229 109,036
Other debtors 42,975 40,962
119,204 149,998
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 120,955 13,622
Other creditors 504,296 492,002
Taxation and social security 12,401 8,708
637,652 514,332
8. Reserves
Income and Expenditure Account
£
As at 1 September 2024 8,241
Loss for the year and total comprehensive income (106,774 )
Reclassification of development costs 44,930
As at 31 August 2025 (53,603 )
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9. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceedinThe company being limited by guarantee does not have a capital divided in to shares. Every member of the company undertakes to contribute to the assets of the company in the event of it being wound up, for payment of the debts and liabilities of the company contracted before he or she ceases to be a member, and for such amounts as may be required not exceeding for members one pound.
If the company is wound up or dissolved and after all its debts and liabilities have been satisfied there remains any property it shall not be paid or distributed among the members of the company, but shall be given or transferred to some other charity or charities having Objects similar to the Objects which prohibits the distribution of its or their income and property to an extent at least as great as within the Memorandum of the ASI Wise Limited, chosen by the Members of the Charity at or before the time of dissolution and if that cannot be done then to some other charitable object. 
10. Ultimate Controlling Party
The company is controlled by the Board of Directors.
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