Acorah Software Products - Accounts Production 14.5.601 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 10447061 Mr Simon Fraser Mr Simon Gibson Mr Daniel Steward Mr Daniel Steward iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10447061 2022-10-31 10447061 2023-10-31 10447061 2022-11-01 2023-10-31 10447061 frs-core:CurrentFinancialInstruments 2023-10-31 10447061 frs-core:Non-currentFinancialInstruments 2023-10-31 10447061 frs-core:ComputerEquipment 2023-10-31 10447061 frs-core:ComputerEquipment 2022-11-01 2023-10-31 10447061 frs-core:ComputerEquipment 2022-10-31 10447061 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-10-31 10447061 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-11-01 2023-10-31 10447061 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-10-31 10447061 frs-core:InvestmentPropertyIncludedWithinPPE 2022-11-01 2023-10-31 10447061 frs-core:OtherResidualIntangibleAssets 2023-10-31 10447061 frs-core:OtherResidualIntangibleAssets 2022-11-01 2023-10-31 10447061 frs-core:OtherResidualIntangibleAssets 2022-10-31 10447061 frs-core:PlantMachinery 2023-10-31 10447061 frs-core:PlantMachinery 2022-11-01 2023-10-31 10447061 frs-core:PlantMachinery 2022-10-31 10447061 frs-core:SharePremium 2023-10-31 10447061 frs-core:ShareCapital 2023-10-31 10447061 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 10447061 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10447061 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 10447061 frs-bus:SmallEntities 2022-11-01 2023-10-31 10447061 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 10447061 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 10447061 frs-bus:Director1 2022-11-01 2023-10-31 10447061 frs-bus:Director2 2022-11-01 2023-10-31 10447061 frs-bus:Director3 2022-11-01 2023-10-31 10447061 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 10447061 frs-countries:EnglandWales 2022-11-01 2023-10-31 10447061 2021-10-31 10447061 2022-10-31 10447061 2021-11-01 2022-10-31 10447061 frs-core:CurrentFinancialInstruments 2022-10-31 10447061 frs-core:Non-currentFinancialInstruments 2022-10-31 10447061 frs-core:SharePremium 2022-10-31 10447061 frs-core:ShareCapital 2022-10-31 10447061 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 10447061
Hut 6 Security Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Perspectives
Chartered Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10447061
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 58,215 -
Tangible Assets 5 2,973 6,507
61,188 6,507
CURRENT ASSETS
Debtors 6 141,303 125,157
Cash at bank and in hand 52,315 313,512
193,618 438,669
Creditors: Amounts Falling Due Within One Year 7 (105,105 ) (70,378 )
NET CURRENT ASSETS (LIABILITIES) 88,513 368,291
TOTAL ASSETS LESS CURRENT LIABILITIES 149,701 374,798
Creditors: Amounts Falling Due After More Than One Year 8 (10,335 ) (15,201 )
NET ASSETS 139,366 359,597
CAPITAL AND RESERVES
Called up share capital 9 599 599
Share premium account 1,108,500 1,108,500
Profit and Loss Account (969,733 ) (749,502 )
SHAREHOLDERS' FUNDS 139,366 359,597
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For the year ending 31 October 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
Mr Simon Fraser
Director
8 April 2024
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
Hut 6 Security Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10447061 . The registered office is Platfform, Devon Place, Newport, NP20 4NW.
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.

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 on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated econcomic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which range from 3 to 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses in profit and loss account . Any intangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation is calculated to write off the cost of an asset, less its estimated residual value, over its estimated economic life of 5 years.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.5. 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:
Office Equipment 20% straight line
Computer Equipment 20% straight line
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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 asset reflects 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.
2.8. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 12)
10 12
4. Intangible Assets
Content Development Intellectual Property Total
£ £ £
Cost
As at 1 November 2022 - 15,000 15,000
Additions 61,042 - 61,042
As at 31 October 2023 61,042 15,000 76,042
Amortisation
As at 1 November 2022 - 15,000 15,000
Provided during the period 2,827 - 2,827
As at 31 October 2023 2,827 15,000 17,827
Net Book Value
As at 31 October 2023 58,215 - 58,215
As at 1 November 2022 - - -
5. Tangible Assets
Office Equipment Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 633 21,000 21,633
Additions - 991 991
As at 31 October 2023 633 21,991 22,624
Depreciation
As at 1 November 2022 414 14,712 15,126
Provided during the period 127 4,398 4,525
As at 31 October 2023 541 19,110 19,651
Net Book Value
As at 31 October 2023 92 2,881 2,973
As at 1 November 2022 219 6,288 6,507
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,587 6,588
Prepayments and accrued income 2,848 2,257
Corporation tax recoverable assets 28,383 40,589
33,818 49,434
Due after more than one year
Deferred tax current asset 107,485 75,723
107,485 75,723
141,303 125,157
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,593 233
Bank loans and overdrafts 5,000 5,000
Other taxes and social security 9,315 10,684
VAT 492 900
Other creditors 96 -
Accruals and deferred income 88,609 53,561
105,105 70,378
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,335 15,201
10,335 15,201
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 599 599
The nominal value of each share is £0.01




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