Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2023 1 April 2022 false 1 April 2023 29 February 2024 29 February 2024 12339605 G M Henson R Qayum iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12339605 2023-03-31 12339605 2024-02-29 12339605 2023-04-01 2024-02-29 12339605 frs-core:CurrentFinancialInstruments 2024-02-29 12339605 frs-core:ComputerEquipment 2024-02-29 12339605 frs-core:ComputerEquipment 2023-04-01 2024-02-29 12339605 frs-core:ComputerEquipment 2023-03-31 12339605 frs-core:ShareCapital 2024-02-29 12339605 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12339605 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-02-29 12339605 frs-bus:FilletedAccounts 2023-04-01 2024-02-29 12339605 frs-bus:SmallEntities 2023-04-01 2024-02-29 12339605 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-02-29 12339605 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-02-29 12339605 frs-bus:Director1 2023-04-01 2024-02-29 12339605 frs-bus:Director1 2023-03-31 12339605 frs-bus:Director1 2024-02-29 12339605 frs-bus:Director2 2023-04-01 2024-02-29 12339605 frs-bus:Director2 2023-03-31 12339605 frs-bus:Director2 2024-02-29 12339605 frs-countries:EnglandWales 2023-04-01 2024-02-29 12339605 2022-03-31 12339605 2023-03-31 12339605 2022-04-01 2023-03-31 12339605 frs-core:CurrentFinancialInstruments 2023-03-31 12339605 frs-core:ShareCapital 2023-03-31 12339605 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 12339605 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 12339605
HQ Communications Ltd
Financial Statements
For the Period 1 April 2023 to 29 February 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12339605
29 February 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 4,632
- 4,632
CURRENT ASSETS
Debtors 5 438,630 432,040
Cash at bank and in hand 21,713 21,962
460,343 454,002
Creditors: Amounts Falling Due Within One Year 6 (12,184 ) (35,376 )
NET CURRENT ASSETS (LIABILITIES) 448,159 418,626
TOTAL ASSETS LESS CURRENT LIABILITIES 448,159 423,258
PROVISIONS FOR LIABILITIES
Deferred Taxation - (927 )
NET ASSETS 448,159 422,331
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 448,059 422,231
SHAREHOLDERS' FUNDS 448,159 422,331
Page 1
Page 2
For the period ending 29 February 2024 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
G M Henson
Director
R Qayum
Director
05/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HQ Communications Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12339605 . The registered office is The Hangar, Hadley Park East, Telford, Shropshire, TF1 6QJ.
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.
Sale of goods
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 at the point that the customer has signed for the delivery of the goods.
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:
Computer Equipment 25% Straight Line
2.4. 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 year 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 13)
2 13
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 8,850
Disposals (8,850 )
Depreciation
As at 1 April 2023 4,218
Disposals (4,218 )
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 -
As at 1 April 2023 4,632
5. Debtors
29 February 2024 31 March 2023
£ £
Due within one year
Trade debtors - 63,907
Other debtors - 13,623
Other debtors (1) - 350,679
Other taxes and social security - 3,831
Directors' loan accounts 438,630 -
438,630 432,040
6. Creditors: Amounts Falling Due Within One Year
29 February 2024 31 March 2023
£ £
Corporation tax 7,784 14,608
VAT - 12,393
Accruals and deferred income 4,400 6,800
Directors' loan accounts - 1,575
12,184 35,376
7. Share Capital
29 February 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Gregory Henson - 219,320 - - 219,320
Mr Raza Qayum - 219,309 - - 219,309
The above loan is unsecured, interest free and repayable on demand.
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