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 05146860 Mr Toby Davis Mr Michael Moody Mr Anthony Shepherd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05146860 2022-12-31 05146860 2023-12-31 05146860 2023-01-01 2023-12-31 05146860 frs-core:CurrentFinancialInstruments 2023-12-31 05146860 frs-core:Non-currentFinancialInstruments 2023-12-31 05146860 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 05146860 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 05146860 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 05146860 frs-core:PlantMachinery 2023-12-31 05146860 frs-core:PlantMachinery 2023-01-01 2023-12-31 05146860 frs-core:PlantMachinery 2022-12-31 05146860 frs-core:SharePremium 2023-12-31 05146860 frs-core:ShareCapital 2023-12-31 05146860 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05146860 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05146860 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05146860 frs-bus:SmallEntities 2023-01-01 2023-12-31 05146860 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05146860 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05146860 frs-bus:Director1 2023-01-01 2023-12-31 05146860 frs-bus:Director2 2023-01-01 2023-12-31 05146860 frs-bus:Director3 2023-01-01 2023-12-31 05146860 frs-countries:EnglandWales 2023-01-01 2023-12-31 05146860 2021-12-31 05146860 2022-12-31 05146860 2022-01-01 2022-12-31 05146860 frs-core:CurrentFinancialInstruments 2022-12-31 05146860 frs-core:Non-currentFinancialInstruments 2022-12-31 05146860 frs-core:SharePremium 2022-12-31 05146860 frs-core:ShareCapital 2022-12-31 05146860 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 05146860
Handiworld Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05146860
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 17,543 19,326
Tangible Assets 5 2,855 2,827
20,398 22,153
CURRENT ASSETS
Stocks 6 369,562 362,819
Debtors 7 116,563 92,468
Cash at bank and in hand 126,260 136,380
612,385 591,667
Creditors: Amounts Falling Due Within One Year 8 (620,797 ) (154,189 )
NET CURRENT ASSETS (LIABILITIES) (8,412 ) 437,478
TOTAL ASSETS LESS CURRENT LIABILITIES 11,986 459,631
Creditors: Amounts Falling Due After More Than One Year 9 (14,899 ) (424,984 )
NET (LIABILITIES)/ASSETS (2,913 ) 34,647
CAPITAL AND RESERVES
Called up share capital 10 169,962 169,962
Share premium account 915,628 915,628
Profit and Loss Account (1,088,503 ) (1,050,943 )
SHAREHOLDERS' FUNDS (2,913) 34,647
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 Toby Davis
Director
12 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
Handiworld Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 05146860 . The registered office is Salisbury House, London Wall, London, EC2M 5PS.
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. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds  that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are the costs of patents. These are amortised to the profit and loss account over their estimated economic life  of 10 or 20 years.
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:
Plant & Machinery 3 years straight line from date of use
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. 
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. 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.
...CONTINUED
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2.8. Taxation - continued
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
4. Intangible Assets
Patents
£
Cost
As at 1 January 2023 187,661
As at 31 December 2023 187,661
Amortisation
As at 1 January 2023 168,335
Provided during the period 1,783
As at 31 December 2023 170,118
Net Book Value
As at 31 December 2023 17,543
As at 1 January 2023 19,326
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 4,240
Additions 1,240
As at 31 December 2023 5,480
Depreciation
As at 1 January 2023 1,413
Provided during the period 1,212
As at 31 December 2023 2,625
Net Book Value
As at 31 December 2023 2,855
As at 1 January 2023 2,827
6. Stocks
2023 2022
£ £
Stock 369,562 362,819
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Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 95,928 80,628
Other debtors 20,635 11,840
116,563 92,468
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 181,755 115,362
Bank loans and overdrafts 10,011 9,774
Other loans 395,000 -
Other creditors 31,202 25,830
Taxation and social security 2,829 3,223
620,797 154,189
Other loans of £200,000 are secured by a fixed and floating charge over the assets of the company.
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,899 24,984
Other loans - 400,000
14,899 424,984
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 169,962 169,962
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