Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09443244 Mr J Kyle Mr J Pancholi Miss N Kinnaird Mr M Mossakowski iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09443244 2022-12-31 09443244 2023-12-31 09443244 2023-01-01 2023-12-31 09443244 frs-core:CurrentFinancialInstruments 2023-12-31 09443244 frs-core:Non-currentFinancialInstruments 2023-12-31 09443244 frs-core:ComputerEquipment 2023-12-31 09443244 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09443244 frs-core:ComputerEquipment 2022-12-31 09443244 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09443244 frs-core:FurnitureFittings 2023-12-31 09443244 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09443244 frs-core:FurnitureFittings 2022-12-31 09443244 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 09443244 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 09443244 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 09443244 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09443244 frs-core:OtherResidualIntangibleAssets 2023-12-31 09443244 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 09443244 frs-core:OtherResidualIntangibleAssets 2022-12-31 09443244 frs-core:PlantMachinery 2023-12-31 09443244 frs-core:PlantMachinery 2023-01-01 2023-12-31 09443244 frs-core:PlantMachinery 2022-12-31 09443244 frs-core:SharePremium 2023-12-31 09443244 frs-core:ShareCapital 2023-12-31 09443244 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09443244 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09443244 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09443244 frs-bus:SmallEntities 2023-01-01 2023-12-31 09443244 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09443244 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09443244 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09443244 frs-bus:OrdinaryShareClass1 2023-12-31 09443244 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 09443244 frs-bus:OrdinaryShareClass2 2023-12-31 09443244 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 09443244 frs-bus:OrdinaryShareClass4 2023-12-31 09443244 frs-bus:Director1 2023-01-01 2023-12-31 09443244 frs-bus:Director2 2023-01-01 2023-12-31 09443244 frs-bus:Director3 2023-01-01 2023-12-31 09443244 frs-bus:Director4 2023-01-01 2023-12-31 09443244 frs-countries:EnglandWales 2023-01-01 2023-12-31 09443244 2021-12-31 09443244 2022-12-31 09443244 2022-01-01 2022-12-31 09443244 frs-core:CurrentFinancialInstruments 2022-12-31 09443244 frs-core:Non-currentFinancialInstruments 2022-12-31 09443244 frs-core:SharePremium 2022-12-31 09443244 frs-core:ShareCapital 2022-12-31 09443244 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09443244 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 09443244 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 09443244 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31 09443244 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 09443244
LUMITY LIFE HOLDINGS LIMITED
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09443244
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 248
Tangible Assets 5 42,648 46,432
Investments 89 89
42,737 46,769
CURRENT ASSETS
Stocks 6 481,643 282,692
Debtors 7 5,807,779 5,921,188
Cash at bank and in hand 585,915 617,711
6,875,337 6,821,591
Creditors: Amounts Falling Due Within One Year 8 (365,513 ) (2,366,695 )
NET CURRENT ASSETS (LIABILITIES) 6,509,824 4,454,896
TOTAL ASSETS LESS CURRENT LIABILITIES 6,552,561 4,501,665
Creditors: Amounts Falling Due After More Than One Year 9 (84,888 ) (90,286 )
NET ASSETS 6,467,673 4,411,379
CAPITAL AND RESERVES
Called up share capital 10 36,317 28,066
Share premium account 10,081,849 7,523,662
Profit and Loss Account (3,650,493 ) (3,140,349 )
SHAREHOLDERS' FUNDS 6,467,673 4,411,379
Page 1
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
Mr J Kyle
Director
10th September 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
LUMITY LIFE HOLDINGS LIMITED Registered number 09443244 is a limited by shares company incorporated in England & Wales. The Registered Office is 83 Baker Street, London, W1U 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover includes sales to online customers, wholesale partners and to subsidiaries who are the company's distributor in the USA and EU.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets include the cost of trademarks taken out to protect the Company's brand names and logos. Associated costs of new trademarks are amortised to the profit and loss account over their estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Website Development 33%
Plant & Machinery 25%
Fixtures & Fittings 25%
Computer Equipment 33%
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. 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.
2.8. Loans and Borrowings
Loans and borrowings are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 5 5
Sales, marketing and distribution 14 14
19 19
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 14,305
As at 31 December 2023 14,305
Amortisation
As at 1 January 2023 14,057
Provided during the period 248
As at 31 December 2023 14,305
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 248
5. Tangible Assets
Website Development Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 122,950 43,275 64 16,165 182,454
Additions 16,957 2,045 - 3,943 22,945
Disposals - - - (767 ) (767 )
As at 31 December 2023 139,907 45,320 64 19,341 204,632
Depreciation
As at 1 January 2023 94,245 29,791 64 11,922 136,022
Provided during the period 17,853 5,881 - 2,995 26,729
Disposals - - - (767 ) (767 )
As at 31 December 2023 112,098 35,672 64 14,150 161,984
Net Book Value
As at 31 December 2023 27,809 9,648 - 5,191 42,648
As at 1 January 2023 28,705 13,484 - 4,243 46,432
6. Stocks
2023 2022
£ £
Stock 481,643 282,692
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,203 6,571
Prepayments and accrued income 17,015 30,242
Other debtors 52,833 57,007
Amounts owed by group undertakings 5,734,728 5,827,368
5,807,779 5,921,188
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 192,679 153,356
Bank loans and overdrafts 6,513 6,991
VAT 109,956 78,385
Other creditors 7,583 539
Other Loans < 1 year - 1,670,000
Accruals and deferred income 48,782 457,424
365,513 2,366,695
In May 2020 a £50,000 Bounce Back loan was received. The term of the loan is 10 years and capital and interest payments commenced in June 2022. The interest rate payable is 2.53%. The loan is presented between short and long term liabilities. 
In June 2020 the company participated in the UK Government Future Fund scheme and issued £1,670,000 convertible loan notes to participating investors. The loan notes and accrued loan interest converted into Ordinary Shares on 6th April 2023 under the terms of the agreement. 
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 34,888 40,286
Other Loans > 1 year 50,000 50,000
84,888 90,286
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
3,145,281 Ordinary Shares of £ 0.01 each 31,453 24,177
58,555 Ordinary G shares of £ 0.01 each 586 586
427,775 Ordinary H shares of £ 0.01 each 4,278 3,303
36,317 28,066
Shares issued during the period: £
727,558 Ordinary Shares of £ 0.01 each 7,276
97,500 Ordinary H shares of £ 0.01 each 975
8,251
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