Company registration number 11889359 (England and Wales)
ACCELEX TECHNOLOGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
ACCELEX TECHNOLOGY LIMITED
COMPANY INFORMATION
Directors
F Vialaron
M Aldridge
R L Flatley
S C Husk
N Weder
L A Zorzino
Company number
11889359
Registered office
39 Faroe Road
London
United Kingdom
W14 0EL
Auditor
Citroen Wells Chartered Accountants
Devonshire House
1 Devonshire Street
London
W1W 5DR
Accountant
Barnes & Scott
86-90 Paul Street
Shoreditch
London
EC21 4NE
ACCELEX TECHNOLOGY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 13
ACCELEX TECHNOLOGY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
36,363
25,673
Investments
5
150,034
149,970
186,397
175,643
Current assets
Debtors falling due after more than one year
6
2,189,755
1,265,231
Debtors falling due within one year
6
1,175,339
693,449
Cash at bank and in hand
865,125
1,195,288
4,230,219
3,153,968
Creditors: amounts falling due within one year
Taxation and social security
90,277
48,117
Other creditors
928,713
579,617
1,018,990
627,734
Net current assets
3,211,229
2,526,234
Total assets less current liabilities
3,397,626
2,701,877
Creditors: amounts falling due after more than one year
Loans and overdrafts
9
2,349,765
1,857,829
Convertible loan notes
10
4,181,041
(6,530,806)
(1,857,829)
Provisions for liabilities
(6,909)
(4,878)
Net (liabilities)/assets
(3,140,089)
839,170
Capital and reserves
Called up share capital
12
923,589
923,369
Share premium account
4,092,079
4,091,074
Other reserves
155,686
64,770
Profit and loss reserves
(8,311,443)
(4,240,043)
Total equity
(3,140,089)
839,170
The notes on pages 3 to 13 form part of these financial statements.
ACCELEX TECHNOLOGY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
F Vialaron
Director
Company registration number 11889359 (England and Wales)
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
Accelex Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39 Faroe Road, London, United Kingdom, W14 0EL.
1.1
Accounting convention
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 December 2022 are the first financial statements of Accelex Technology Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2021. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 15.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover represents the value, net of VAT and discounts, derived from software licence and related support services provided to customers and recognised on a straight line basis over the period of the contract. Where payments are received by customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office Equipment
Straight Line - 25%
Computers
Straight Line - 25%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
1.7
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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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.
1.8
Convertible loans
The convertible loan is classified as a financial liability, recorded at amortised cost. Following any conversion, the loan will be converted into a variable number of shares and accordingly does not meet the criteria as a compound financial instrument. Interest of 7% per annum is payable on redemption and is expensed to the profit and loss account.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
1.14
Leases
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.
1.15
Foreign exchange
Transactions in currencies other than 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
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
26
11
4
Tangible fixed assets
Office Equipment
Computers
Total
£
£
£
Cost
At 1 January 2022
150
32,819
32,969
Additions
2,531
20,254
22,785
At 31 December 2022
2,681
53,073
55,754
Depreciation and impairment
At 1 January 2022
28
7,268
7,296
Depreciation charged in the year
377
11,718
12,095
At 31 December 2022
405
18,986
19,391
Carrying amount
At 31 December 2022
2,276
34,087
36,363
At 31 December 2021
122
25,551
25,673
5
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
150,034
149,970
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2022
149,970
Additions
64
At 31 December 2022
150,034
Carrying amount
At 31 December 2022
150,034
At 31 December 2021
149,970
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
312,389
226,935
Other debtors
833,430
456,534
Prepayments and accrued income
29,520
9,980
1,175,339
693,449
2022
2021
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
2,137,288
1,213,761
Other debtors
52,467
51,470
2,189,755
1,265,231
Total debtors
3,365,094
1,958,680
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 9 -
7
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
289,018
101,459
Taxation and social security
90,277
48,117
Deferred income
493,759
419,464
Other creditors
11,037
9,923
Accruals
134,899
48,771
1,018,990
627,734
8
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Convertible loans
10
4,181,041
Other borrowings
9
2,349,765
1,857,829
6,530,806
1,857,829
9
Loans and overdrafts
2022
2021
£
£
Loans from group undertakings and related parties
2,021,611
1,524,785
Other loans
328,154
333,044
2,349,765
1,857,829
Payable after one year
2,349,765
1,857,829
Other loans relate to amount due to a director of the company amounting to £328,154 (2021: £333,044). This loan is unsecured and bears 8% interest per annum.
10
Convertible loan notes
2022
2021
£
£
Liability component of convertible loan notes
4,181,041
-
The convertible loan notes were issued on 09 May 2022. The notes are convertible at the option of the holder.
Interest of 7% per annum in respect of the convertible note is payable on redemption and is expensed to the profit and loss account.
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 10 -
11
Share-based payment transactions
Number of share options
Weighted average exercise price
2022
2021
2022
2021
Number
Number
£
£
Outstanding at 1 January 2022
11,442,718
8,247,718
0.03
0.03
Granted
5,765,000
3,195,000
0.05
0.04
Forfeited
(100,000)
-
-
-
Exercised
(25,000)
-
0.05
-
Outstanding at 31 December 2022
17,082,718
11,442,718
0.04
0.03
The options outstanding at 31 December 2022 had an exercise price ranging from £0.03 to £0.05, and are exercisable upon an exit event.
Liabilities and expenses
During the year, the company recognised total share-based payment expenses of £90,916 (2021 - £64,770) which related to equity settled share based payment transactions.
12
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of 0.88p each
63,846,078
63,821,078
561,845
561,625
2022
2021
2022
2021
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of 0.88p each
41,107,266
41,107,266
361,744
361,744
Preference shares classified as equity
361,744
361,744
Total equity share capital
923,589
923,369
The prescribed particulars of rights attached to the series seed preference shares are; (A) the right to vote on the basis of one vote on a show of hands, or, on a poll, on the basis of one vote per share held; (B) the right to participate in a dividend in proportion to the number of equity shares held; (C) the right to participate in a distribution of capital as set out in article 5.1 of the company’s articles of association; and (D) the shares are not redeemable.
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 11 -
13
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Michael Berry
FCA CTA
The auditor was Citroen Wells.
14
Operating lease commitments
Lessee
At the reporting end date the company had outstanding rent commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
Rental lease
62,400
150,000
15
Reconciliations on adoption of FRS 102
Reconciliation of balance sheet
1 January
31 December
2021
2021
£
£
Equity as reported under previous UK GAAP
(862,757)
855,709
Adjustments arising from transition to FRS 102:
Deferred Tax
-
(4,878)
Holiday Pay Accrual
-
(11,661)
Equity reported under FRS 102
(862,757)
839,170
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
15
Reconciliations on adoption of FRS 102
(Continued)
- 12 -
Reconciliation of balance sheet
At 1 January 2021
At 31 December 2021
Previous UK GAAP
Effect of
transition
FRS 102
Previous UK GAAP
Effect of
transition
FRS 102
£
£
£
£
£
£
Fixed assets
Tangible assets
6,723
-
6,723
25,673
-
25,673
Investments
139,608
-
139,608
149,970
-
149,970
146,331
-
146,331
175,643
-
175,643
Current assets
Debtors due after one year
827,153
-
827,153
1,265,231
-
1,265,231
Debtors due within one year
231,450
-
231,450
693,449
-
693,449
Bank and cash
38,132
-
38,132
1,195,288
-
1,195,288
1,096,735
-
1,096,735
3,153,968
-
3,153,968
Creditors due within one year
Loans and overdrafts
(96,744)
-
(96,744)
(100)
-
(100)
Taxation
(6,893)
-
(6,893)
(48,117)
-
(48,117)
Other creditors
(135,211)
-
(135,211)
(148,392)
(11,661)
(160,053)
Deferred income
(72,248)
-
(72,248)
(419,464)
-
(419,464)
(311,096)
-
(311,096)
(616,073)
(11,661)
(627,734)
Net current assets
785,639
-
785,639
2,537,895
(11,661)
2,526,234
Total assets less current liabilities
931,970
-
931,970
2,713,538
(11,661)
2,701,877
Creditors due after one year
Loans and overdrafts
(1,794,727)
-
(1,794,727)
(1,857,829)
-
(1,857,829)
Provisions for liabilities
Deferred tax
-
-
-
-
(4,878)
(4,878)
Net assets
(862,757)
-
(862,757)
855,709
(16,539)
839,170
ACCELEX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
15
Reconciliations on adoption of FRS 102
At 1 January 2021
At 31 December 2021
Previous UK GAAP
Effect of
transition
FRS 102
Previous UK GAAP
Effect of
transition
FRS 102
£
£
£
£
£
£
(Continued)
- 13 -
Capital and reserves
Share capital
510,221
510,221
923,369
-
923,369
Share premium
716,051
716,051
4,091,074
-
4,091,074
Other reserves
-
-
-
64,770
64,770
Profit and loss
(2,089,029)
(2,089,029)
(4,158,734)
(81,309)
(4,240,043)
Total equity
(862,757)
-
(862,757)
855,709
(16,539)
839,170
The transitional adjustments include:
A reduction in equity of £11,661 and £4,878 for the recognition of a holiday pay accrual and deferred tax liability accordingly.
A transfer of reserves totalling £64,770 due to equity settled based payment costs incurred by the company.
2022-12-312022-01-01false29 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedF VialaronM AldridgeR L FlatleyS C HuskN WederL A ZorzinoC GouletC Mahjoub118893592022-01-012022-12-3111889359bus:Director12022-01-012022-12-3111889359bus:Director22022-01-012022-12-3111889359bus:Director32022-01-012022-12-3111889359bus:Director42022-01-012022-12-3111889359bus:Director52022-01-012022-12-3111889359bus:Director62022-01-012022-12-3111889359bus:Director72022-01-012022-12-3111889359bus:Director82022-01-012022-12-3111889359bus:RegisteredOffice2022-01-012022-12-31118893592022-12-31118893592021-12-3111889359core:FurnitureFittings2022-12-3111889359core:ComputerEquipment2022-12-3111889359core:FurnitureFittings2021-12-3111889359core:ComputerEquipment2021-12-3111889359core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3111889359core:Non-currentFinancialInstrumentscore:AfterOneYear2021-12-3111889359core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3111889359core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3111889359core:CurrentFinancialInstruments2022-12-3111889359core:CurrentFinancialInstruments2021-12-3111889359core:Non-currentFinancialInstruments2022-12-3111889359core:Non-currentFinancialInstruments2021-12-3111889359core:ShareCapital2022-12-3111889359core:ShareCapital2021-12-3111889359core:SharePremium2022-12-3111889359core:SharePremium2021-12-3111889359core:OtherMiscellaneousReserve2022-12-3111889359core:OtherMiscellaneousReserve2021-12-3111889359core:RetainedEarningsAccumulatedLosses2022-12-3111889359core:RetainedEarningsAccumulatedLosses2021-12-3111889359core:ShareCapitalcore:IncreaseDecreaseDueToTransitionFromPreviousStandard2020-12-3111889359core:SharePremiumcore:IncreaseDecreaseDueToTransitionFromPreviousStandard2020-12-3111889359core:TreasurySharesOwnSharesReservecore:IncreaseDecreaseDueToTransitionFromPreviousStandard2020-12-3111889359core:RetainedEarningsAccumulatedLossescore:IncreaseDecreaseDueToTransitionFromPreviousStandard2020-12-3111889359core:FurnitureFittings2022-01-012022-12-3111889359core:ComputerEquipment2022-01-012022-12-3111889359core:FurnitureFittings2021-12-3111889359core:ComputerEquipment2021-12-31118893592021-12-3111889359core:AfterOneYear2022-12-3111889359core:AfterOneYear2021-12-31118893592020-12-31118893592021-01-012021-12-3111889359bus:PrivateLimitedCompanyLtd2022-01-012022-12-3111889359bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3111889359bus:FRS1022022-01-012022-12-3111889359bus:Audited2022-01-012022-12-3111889359bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP