Acorah Software Products - Accounts Production 14.5.501 false true 31 December 2022 1 April 2022 false 1 January 2023 31 December 2023 31 December 2023 08931854 D Hobbs R Hobbs iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08931854 2022-12-31 08931854 2023-12-31 08931854 2023-01-01 2023-12-31 08931854 frs-core:CurrentFinancialInstruments 2023-12-31 08931854 frs-core:Non-currentFinancialInstruments 2023-12-31 08931854 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 08931854 frs-core:FurnitureFittings 2023-12-31 08931854 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08931854 frs-core:FurnitureFittings 2022-12-31 08931854 frs-core:OtherResidualIntangibleAssets 2023-12-31 08931854 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 08931854 frs-core:OtherResidualIntangibleAssets 2022-12-31 08931854 frs-core:SharePremium 2023-12-31 08931854 frs-core:ShareCapital 2023-12-31 08931854 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08931854 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08931854 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08931854 frs-bus:SmallEntities 2023-01-01 2023-12-31 08931854 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08931854 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08931854 frs-core:UnlistedNon-exchangeTraded 2023-12-31 08931854 frs-core:UnlistedNon-exchangeTraded 2022-12-31 08931854 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 08931854 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 08931854 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 08931854 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 08931854 frs-bus:Director1 2023-01-01 2023-12-31 08931854 frs-bus:Director2 2023-01-01 2023-12-31 08931854 frs-core:CurrentFinancialInstruments 1 2023-12-31 08931854 frs-countries:EnglandWales 2023-01-01 2023-12-31 08931854 2022-03-31 08931854 2022-12-31 08931854 2022-04-01 2022-12-31 08931854 frs-core:CurrentFinancialInstruments 2022-12-31 08931854 frs-core:Non-currentFinancialInstruments 2022-12-31 08931854 frs-core:SharePremium 2022-12-31 08931854 frs-core:ShareCapital 2022-12-31 08931854 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 08931854 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 08931854
Hotelogical Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08931854
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,917,091 2,249,426
Tangible Assets 5 4,418 4,084
Investments 6 80,000 80,000
3,001,509 2,333,510
CURRENT ASSETS
Debtors 7 781,149 926,900
Cash at bank and in hand 95,159 16,730
876,308 943,630
Creditors: Amounts Falling Due Within One Year 8 (2,658,957 ) (2,401,193 )
NET CURRENT ASSETS (LIABILITIES) (1,782,649 ) (1,457,563 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,218,860 875,947
Creditors: Amounts Falling Due After More Than One Year 9 (1,121,034 ) (1,090,562 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (839 ) (776 )
NET ASSETS/(LIABILITIES) 96,987 (215,391 )
CAPITAL AND RESERVES
Called up share capital 10 5,938 5,500
Share premium account 2,961,535 2,734,128
Profit and Loss Account (2,870,486 ) (2,955,019 )
SHAREHOLDERS' FUNDS 96,987 (215,391)
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Page 2
For the year ending 31 December 2023 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
D Hobbs
Director
28/03/2024
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
Hotelogical Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08931854 . The registered office is 32 Byron Hill Road, Harrow-on-the-Hill, Middlesex, HA2 0HY.
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 rendering of services. Turnover is reduced for estimated customer 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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are research and development and website costs. It is amortised to profit and loss account over its estimated economic life of 10 years.
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% reducing balance
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 3 (2022: 3)
3 3
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 3,090,538
Additions 1,085,243
As at 31 December 2023 4,175,781
Amortisation
As at 1 January 2023 841,112
Provided during the period 417,578
As at 31 December 2023 1,258,690
Net Book Value
As at 31 December 2023 2,917,091
As at 1 January 2023 2,249,426
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 10,655
Additions 1,807
As at 31 December 2023 12,462
Depreciation
As at 1 January 2023 6,571
Provided during the period 1,473
As at 31 December 2023 8,044
Net Book Value
As at 31 December 2023 4,418
As at 1 January 2023 4,084
6. Investments
Unlisted
£
Cost
As at 1 January 2023 80,000
As at 31 December 2023 80,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 80,000
As at 1 January 2023 80,000
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7. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 5,465 103,814
Prepayments and accrued income 10,973 37,881
Other debtors 332,625 351,145
Other debtors (1) 393,718 398,664
VAT 21,798 18,859
Directors' loan accounts 13,352 13,612
Called up share capital not paid 3,218 2,925
781,149 926,900
8. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 546,042 404,727
Bank loans and overdrafts 20,500 8,354
Other taxes and social security 11,971 16,555
Net wages 3,315 -
Other creditors 58,628 268,274
Accruals and deferred income 1,320,189 865,017
Directors' loan accounts 698,284 817,413
Amounts owed to subsidiaries 28 20,853
2,658,957 2,401,193
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Bank loans 1,121,034 1,090,562
10. Share Capital
31 December 2023 31 December 2022
£ £
Called Up Share Capital not Paid 3,218 2,925
Called Up Share Capital has been paid up 2,720 2,575
Amount of Allotted, Called Up Share Capital 5,938 5,500
11. Directors Advances, Credits and Guarantees
Included within debtors is a loan to a director of £13,352 (2022: £13,612). Amounts repaid by the director totalled £260 in the year.
The above loan is unsecured, interest free and repayable on demand.
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