Acorah Software Products - Accounts Production 19.3.550 false true 31 March 2025 1 April 2024 false 12 June 2026 1 April 2025 31 March 2026 31 March 2026 01416311 B G Howe N Dark iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01416311 frs-core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-04-01 2026-03-31 01416311 frs-core:AllSubsidiaries 2025-04-01 2026-03-31 01416311 frs-core:KeyManagementPersonnel 2025-04-01 2026-03-31 01416311 frs-core:EntitiesControlledByKeyManagementPersonnel 2025-04-01 2026-03-31 01416311 frs-core:OtherRelatedParties 2025-04-01 2026-03-31 01416311 2025-03-31 01416311 2026-03-31 01416311 2025-04-01 2026-03-31 01416311 frs-core:CurrentFinancialInstruments 2026-03-31 01416311 frs-core:FurnitureFittings 2026-03-31 01416311 frs-core:FurnitureFittings 2025-04-01 2026-03-31 01416311 frs-core:FurnitureFittings 2025-03-31 01416311 frs-core:WithinOneYear 2026-03-31 01416311 frs-core:RevaluationReserve 2026-03-31 01416311 frs-core:SharePremium 2026-03-31 01416311 frs-core:ShareCapital 2026-03-31 01416311 frs-core:RetainedEarningsAccumulatedLosses 2026-03-31 01416311 frs-bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 01416311 frs-bus:FilletedAccounts 2025-04-01 2026-03-31 01416311 frs-bus:SmallEntities 2025-04-01 2026-03-31 01416311 frs-bus:Audited 2025-04-01 2026-03-31 01416311 frs-bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 01416311 frs-bus:OrdinaryShareClass2 2025-04-01 2026-03-31 01416311 frs-bus:OrdinaryShareClass2 2026-03-31 01416311 frs-bus:OrdinaryShareClass3 2025-04-01 2026-03-31 01416311 frs-bus:OrdinaryShareClass3 2026-03-31 01416311 frs-bus:PreferenceShareClass1 2025-04-01 2026-03-31 01416311 frs-bus:PreferenceShareClass1 2026-03-31 01416311 frs-core:CostValuation 2025-03-31 01416311 frs-core:RevaluationsIncreaseDecreaseInInvestments 2026-03-31 01416311 frs-core:CostValuation 2026-03-31 01416311 frs-core:ProvisionsForImpairmentInvestments 2025-03-31 01416311 frs-core:ProvisionsForImpairmentInvestments 2026-03-31 01416311 frs-bus:Director1 2025-04-01 2026-03-31 01416311 frs-bus:CompanySecretary1 2025-04-01 2026-03-31 01416311 frs-countries:EnglandWales 2025-04-01 2026-03-31 01416311 frs-core:Subsidiary1 2025-04-01 2026-03-31 01416311 frs-core:Subsidiary1 2026-03-31 01416311 frs-core:Subsidiary1 1 2025-04-01 2026-03-31 01416311 frs-core:Associate1 2025-04-01 2026-03-31 01416311 frs-core:Associate1 1 2025-04-01 2026-03-31 01416311 2024-03-31 01416311 2025-03-31 01416311 2024-04-01 2025-03-31 01416311 frs-core:CurrentFinancialInstruments 2025-03-31 01416311 frs-core:WithinOneYear 2025-03-31 01416311 frs-core:RevaluationReserve 2025-03-31 01416311 frs-core:SharePremium 2025-03-31 01416311 frs-core:ShareCapital 2025-03-31 01416311 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 01416311 frs-bus:OrdinaryShareClass2 2024-04-01 2025-03-31 01416311 frs-bus:OrdinaryShareClass3 2024-04-01 2025-03-31 01416311 frs-bus:PreferenceShareClass1 2024-04-01 2025-03-31
Registered number: 01416311
State Credit & Investment Limited
Financial Statements
For The Year Ended 31 March 2026
HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
State Credit & Investment Limited
Contents
Contents

| Page
--- | ---
Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3—7

Page 1
State Credit & Investment Limited
Company Information
For The Year Ended 31 March 2026
Company Information

Director | B G Howe
Secretary | N Dark
Company Number | 01416311
Registered Office | United House
| North Road
| Islington
| London
| N7 9DP
Accountants | HSJ Accountants Ltd
| Severn House
| Hazell Drive
| Newport
| NP10 8FY
Auditors | HSJ Audit Limited
| Severn House
| Hazell Drive
| Newport
| NP10 8FY

Page 1
Page 2
State Credit & Investment Limited
Balance Sheet
As At 31 March 2026
Balance Sheet
Registered number: 01416311

| 2026 | 2025
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 6,146 |  | 4,162
Investments | 5 |  | 76,564 |  | 67,000
|  |  | 82,710 |  | 71,162
CURRENT ASSETS
Debtors | 6 | 10,846,475 |  | 12,647,344 |
Cash at bank and in hand |  | 2,129,718 |  | 1,621,247 |
|  | 12,976,193 |  | 14,268,591 |
Creditors: Amounts Falling Due Within One Year | 7 | (8,873,489 ) |  | (10,040,844 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 4,102,704 |  | 4,227,747
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 4,185,414 |  | 4,298,909
NET ASSETS |  |  | 4,185,414 |  | 4,298,909
CAPITAL AND RESERVES
Called up share capital | 9 |  | 2,177,102 |  | 1,377,102
Share premium account |  |  | 312,398 |  | 312,398
Revaluation reserve |  |  | 59,064 |  | 49,500
Profit and Loss Account |  |  | 1,636,850 |  | 2,559,909
SHAREHOLDERS' FUNDS |  |  | 4,185,414 |  | 4,298,909

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

B G Howe Director
9 June 2026

The notes on pages 3 to 7 form part of these financial statements.
Page 2
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State Credit & Investment Limited
Notes to the Financial Statements
For The Year Ended 31 March 2026
Notes to the Financial Statements
1. General Information
State Credit & Investment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01416311 . The registered office is United House, North Road, Islington, London, N7 9DP.
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.
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. 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% reducing balance

2.4. Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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.
...CONTINUED
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State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.6. Taxation - continued
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.
2.7. 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
Average number of employees, including directors, during the year was: 2 (2025: 2)
2 2
4. Tangible Assets

| Fixtures & Fittings
--- | ---
| £
Cost
As at 1 April 2025 | 132,215
Additions | 4,032
Disposals | (128,053 )
As at 31 March 2026 | 8,194
Depreciation
As at 1 April 2025 | 128,053
Provided during the period | 2,048
Disposals | (128,053 )
As at 31 March 2026 | 2,048
Net Book Value
As at 31 March 2026 | 6,146
As at 1 April 2025 | 4,162

5. Investments

| Associates
--- | ---
| £
Cost or Valuation
As at 1 April 2025 | 67,000
Revaluations | 9,564
As at 31 March 2026 | 76,564
Provision
As at 1 April 2025 | -
As at 31 March 2026 | -

...CONTINUED
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State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026

Net Book Value
As at 31 March 2026 | 76,564
As at 1 April 2025 | 67,000

Subsidiaries
Details of the company's subsidiaries as at 31 March 2026 are as follows:

Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding
--- | --- | --- | --- | ---
Tredethy Mews Limited | 71, Athelstan Park, Bodmin, United Kingdom, PL31 1DT | Ordinary | 55.00% | -

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

| Capital and Reserves | Profit/(loss)
--- | --- | ---
| £ | £
Tredethy Mews Limited | 5,221 | 2,668

Associates
Details of the company's associates as at 31 March 2026 are as follows:

Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding
--- | --- | --- | --- | ---
Eurfund (UK) PLC | United House, North Road, Islington, London, N7 9DP | Ordinary | 28.00% | 28.00%

6. Debtors

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 10,529,035 |  | 12,625,024
Other debtors | 7,945 |  | 22,320
| 10,536,980 |  | 12,647,344
Due after more than one year
Other debtors | 309,495 |  | -
| 10,846,475 |  | 12,647,344

7. Creditors: Amounts Falling Due Within One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Trade creditors | 8,838,102 |  | 9,952,081
Other creditors | 35,387 |  | 28,425
Taxation and social security | - |  | 60,338
| 8,873,489 |  | 10,040,844

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State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
8. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2026 |  | 2025
| £ |  | £
Deferred tax asset arising on tax losses available | 309,495 |  | -
| 309,495 |  | -

9. Share Capital

| 2026 |  | 2025
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
377,002 Ordinary A shares of £ 1.00 each | 377,002 |  | 377,002
100 Ordinary B shares of £ 1.00 each | 100 |  | 100
| 377,102 |  | 377,102

Preference Shares

| 2026 |  | 2025
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
1,800,000 Preference Shares of £ 1.00 each | 1,800,000 |  | 1,000,000

Shares issued during the period: | £
800,000 Preference Shares of £ 1.00 each | 800,000

10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Not later than one year | 67,801 |  | 67,442
| 67,801 |  | 67,442

An element of the annual liability is recharged to associated and entities under common control. Therefore, whilst the premises lease is in the name of State Credit & Investment Limited, the company will no suffer the full liability on an annual basis.
Page 6
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State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
11. Related Party Disclosures
Entities with control, joint control or significant influence over the entity
None noted in year.
Entities over which the entity has control, joint control or significant influence
As at 31 March 2026 the company owed such entities £3,582,377 (2025: £4,154,565). During the year interest was paid to such entities totalling £319,435 (2025: £315,644).
Key management personnel of the entity or its parent (in the aggregate)
As at 31 March 2026 the company owed such entities £98,274 (2025: £92,958). During the year interest was paid to such entities totalling £5,316 (2025: £10,528).
Entities that provide key management personnel services to the entity
None noted in year.
Other related parties
None noted in year.
12. Audit Information
The auditor's report on the accounts of State Credit & Investment Limited for the year ended 31 March 2026 was unqualified.
The auditor's report was signed by Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor) for and on behalf of HSJ Audit Limited , Statutory Auditor.

HSJ Audit Limited Severn House Hazell Drive Newport NP10 8FY

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