Acorah Software Products - Accounts Production 19.3.600 false true 31 December 2024 1 January 2024 false 1 January 2025 31 December 2025 31 December 2025 11390525 Mr Adriaan Coppens Mr Joeri De Turck Mr Sander De Wilde Mr Jorg Fiedl Mr Robert Moffat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11390525 2024-12-31 11390525 2025-12-31 11390525 2025-01-01 2025-12-31 11390525 frs-core:CurrentFinancialInstruments 2025-12-31 11390525 frs-core:ComputerEquipment 2025-12-31 11390525 frs-core:ComputerEquipment 2025-01-01 2025-12-31 11390525 frs-core:ComputerEquipment 2024-12-31 11390525 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 11390525 frs-core:OtherResidualIntangibleAssets 2025-12-31 11390525 frs-core:OtherResidualIntangibleAssets 2025-01-01 2025-12-31 11390525 frs-core:OtherResidualIntangibleAssets 2024-12-31 11390525 frs-core:PlantMachinery 2025-12-31 11390525 frs-core:PlantMachinery 2025-01-01 2025-12-31 11390525 frs-core:PlantMachinery 2024-12-31 11390525 frs-core:OtherReservesSubtotal 2025-12-31 11390525 frs-core:SharePremium 2025-12-31 11390525 frs-core:ShareCapital 2025-12-31 11390525 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 11390525 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 11390525 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 11390525 frs-bus:SmallEntities 2025-01-01 2025-12-31 11390525 frs-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 11390525 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 11390525 frs-core:CostValuation 2024-12-31 11390525 frs-core:AdditionsToInvestments 2025-12-31 11390525 frs-core:CostValuation 2025-12-31 11390525 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 11390525 frs-core:ProvisionsForImpairmentInvestments 2025-12-31 11390525 frs-bus:Director1 2025-01-01 2025-12-31 11390525 frs-bus:Director2 2025-01-01 2025-12-31 11390525 frs-bus:Director3 2025-01-01 2025-12-31 11390525 frs-bus:Director4 2025-01-01 2025-12-31 11390525 frs-bus:Director5 2025-01-01 2025-12-31 11390525 frs-countries:EnglandWales 2025-01-01 2025-12-31 11390525 2023-12-31 11390525 2024-12-31 11390525 2024-01-01 2024-12-31 11390525 frs-core:CurrentFinancialInstruments 2024-12-31 11390525 frs-core:OtherReservesSubtotal 2024-12-31 11390525 frs-core:SharePremium 2024-12-31 11390525 frs-core:ShareCapital 2024-12-31 11390525 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31
Registered number: 11390525
Qargo Tech Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2025
The Bean Counters Accountants LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11390525
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 108,438 42,098
Tangible Assets 5 31,142 15,666
Investments 6 1,395,919 42,617
1,535,499 100,381
CURRENT ASSETS
Debtors 7 2,751,430 688,374
Cash at bank and in hand 26,481,961 8,289,566
29,233,391 8,977,940
Creditors: Amounts Falling Due Within One Year 8 (6,209,049 ) (2,218,765 )
NET CURRENT ASSETS (LIABILITIES) 23,024,342 6,759,175
TOTAL ASSETS LESS CURRENT LIABILITIES 24,559,841 6,859,556
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,520 ) (10,975 )
NET ASSETS 24,533,321 6,848,581
CAPITAL AND RESERVES
Called up share capital 9 256 199
Share premium account 40,498,813 15,449,817
Other reserves 114,558 -
Profit and Loss Account (16,080,306 ) (8,601,435 )
SHAREHOLDERS' FUNDS 24,533,321 6,848,581
Page 1
Page 2
For the year ending 31 December 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 Profit and Loss Account.
On behalf of the board
Mr Adriaan Coppens
Director
29/05/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Qargo Tech Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11390525 . The registered office is 86-90 Paul Street, London, EC2A 4NE.
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 represents amounts receivable for software subscriptions and related services provided in the normal course of business, stated net of value added tax, trade discounts and customer credits.
Software subscriptions (SaaS)
Turnover from subscriptions to the company's transport management software is recognised over time on a straight-line basis over the period of the subscription, reflecting the customer's continuous right to access the platform over the contract term. Amounts invoiced or collected in advance of the service being provided are recognised as deferred income within creditors and released to turnover over the subscription period.
Custom development
Turnover from bespoke development and configuration services is recognised by reference to the stage of completion of the work when the outcome can be estimated reliably, or otherwise on completion and customer acceptance. Where such services are not distinct from the subscription, the related turnover is recognised over the subscription period.
Discounts
Where contracts include time-limited discounts, turnover is recognised net of the discount over the period to which it relates.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are stated at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged to the profit and loss account on a straight-line basis over the estimated useful economic life of the asset.
The following categories of intangible asset are recognised, with amortisation applied as follows:
Website development costs — capitalised where the expenditure meets the criteria for recognition as an intangible asset under FRS 102 Section 18 (i.e. the asset is identifiable, controlled by the entity, and expected to generate probable future economic benefits). Amortised on a straight-line basis over 5 years.
Domain name — recognised at cost of acquisition. Amortised on a straight-line basis over 10 years, reflecting the period over which the asset is expected to contribute to the business.
Amortisation commences when the asset is available for use. Assets are reviewed for impairment where there is an indication that the carrying value may not be recoverable.
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Page 4
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:
Plant & Machinery 25% on costs
Computer Equipment 25% on costs
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2024: 12)
33 12
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Page 5
4. Intangible Assets
Other
£
Cost
As at 1 January 2025 44,314
Additions 77,134
As at 31 December 2025 121,448
Amortisation
As at 1 January 2025 2,216
Provided during the period 10,794
As at 31 December 2025 13,010
Net Book Value
As at 31 December 2025 108,438
As at 1 January 2025 42,098
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2025 3,083 42,247 45,330
Additions - 26,229 26,229
As at 31 December 2025 3,083 68,476 71,559
Depreciation
As at 1 January 2025 771 28,893 29,664
Provided during the period 2,312 8,441 10,753
As at 31 December 2025 3,083 37,334 40,417
Net Book Value
As at 31 December 2025 - 31,142 31,142
As at 1 January 2025 2,312 13,354 15,666
Page 5
Page 6
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 January 2025 42,617
Additions 1,353,302
As at 31 December 2025 1,395,919
Provision
As at 1 January 2025 -
As at 31 December 2025 -
Net Book Value
As at 31 December 2025 1,395,919
As at 1 January 2025 42,617
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,580,686 505,367
Other debtors 1,170,744 183,007
2,751,430 688,374
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 187,753 57,917
Amounts owed to group undertakings 606,836 467,701
Other creditors 5,256,415 1,596,547
Taxation and social security 158,045 96,600
6,209,049 2,218,765
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 256 199
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