Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06132710 Mr Matthew Trubow Mr Timothy Phillips Mr Peter O'Brien Mr Peter O'Brien iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06132710 2023-03-31 06132710 2024-03-31 06132710 2023-04-01 2024-03-31 06132710 frs-core:CurrentFinancialInstruments 2024-03-31 06132710 frs-core:Non-currentFinancialInstruments 2024-03-31 06132710 frs-core:ComputerEquipment 2024-03-31 06132710 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06132710 frs-core:ComputerEquipment 2023-03-31 06132710 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 06132710 frs-core:FurnitureFittings 2024-03-31 06132710 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06132710 frs-core:FurnitureFittings 2023-03-31 06132710 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06132710 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 06132710 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06132710 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 06132710 frs-core:OtherResidualIntangibleAssets 2024-03-31 06132710 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 06132710 frs-core:OtherResidualIntangibleAssets 2023-03-31 06132710 frs-core:PlantMachinery 2024-03-31 06132710 frs-core:PlantMachinery 2023-04-01 2024-03-31 06132710 frs-core:PlantMachinery 2023-03-31 06132710 frs-core:OtherReservesSubtotal 2024-03-31 06132710 frs-core:ShareCapital 2024-03-31 06132710 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06132710 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06132710 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06132710 frs-bus:SmallEntities 2023-04-01 2024-03-31 06132710 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06132710 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06132710 frs-bus:Director1 2023-04-01 2024-03-31 06132710 frs-bus:Director2 2023-04-01 2024-03-31 06132710 frs-bus:Director3 2023-04-01 2024-03-31 06132710 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 06132710 frs-countries:EnglandWales 2023-04-01 2024-03-31 06132710 2022-03-31 06132710 2023-03-31 06132710 2022-04-01 2023-03-31 06132710 frs-core:CurrentFinancialInstruments 2023-03-31 06132710 frs-core:Non-currentFinancialInstruments 2023-03-31 06132710 frs-core:OtherReservesSubtotal 2023-03-31 06132710 frs-core:ShareCapital 2023-03-31 06132710 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06132710
Hidden Creative Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
MAP ACCOUNTANTS LTD
16 Blackfriars Street
Manchester
M3 5BQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06132710
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 229,453 200,669
Tangible Assets 5 9,801 26,902
239,254 227,571
CURRENT ASSETS
Stocks 6 49,312 128,714
Debtors 7 427,569 250,605
Cash at bank and in hand 131,477 421,484
608,358 800,803
Creditors: Amounts Falling Due Within One Year 8 (329,102 ) (263,288 )
NET CURRENT ASSETS (LIABILITIES) 279,256 537,515
TOTAL ASSETS LESS CURRENT LIABILITIES 518,510 765,086
Creditors: Amounts Falling Due After More Than One Year 9 (25,326 ) (65,799 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (40,590 ) (43,239 )
NET ASSETS 452,594 656,048
CAPITAL AND RESERVES
Called up share capital 11 4 4
Other reserves 33,433 33,433
Profit and Loss Account 419,157 622,611
SHAREHOLDERS' FUNDS 452,594 656,048
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Page 2
For the year ending 31 March 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
Mr Peter O'Brien
Director
19th September 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
Hidden Creative Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06132710 . The registered office is Croxley House, 14 Lloyd Street, Manchester, Greater Manchester, M2 5ND.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are capitalised Development 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:
Freehold 20% on cost
Leasehold 33% on cost
Plant & Machinery 33.33% on cost
Fixtures & Fittings 33% on cost
Computer Equipment 33% on cost
2.5. 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.
2.6. 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.
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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Share Based Payments
The company issued equity-settled share-based payments to certain employees/ These awards are measured at fair value on the date of the grant option using an independent fair valuation of the company and expensed in the statement of profit and loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 22)
18 22
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 200,669
Additions 51,319
As at 31 March 2024 251,988
Amortisation
As at 1 April 2023 -
Provided during the period 22,535
As at 31 March 2024 22,535
Net Book Value
As at 31 March 2024 229,453
As at 1 April 2023 200,669
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 10,667 - 6,164 50,825 67,656
Additions - 496 - 2,316 2,812
Disposals (9,245 ) - - - (9,245 )
As at 31 March 2024 1,422 496 6,164 53,141 61,223
Depreciation
As at 1 April 2023 711 - 2,153 37,890 40,754
Provided during the period 711 110 1,868 7,979 10,668
As at 31 March 2024 1,422 110 4,021 45,869 51,422
Net Book Value
As at 31 March 2024 - 386 2,143 7,272 9,801
As at 1 April 2023 9,956 - 4,011 12,935 26,902
6. Stocks
2024 2023
£ £
Work in progress 49,312 128,714
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 382,588 166,776
Prepayments and accrued income 18,491 31,128
Other debtors - 224
Corporation tax recoverable assets - 33,999
Deferred tax current asset 6,352 6,352
VAT 20,138 12,126
427,569 250,605
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 120,733 15,750
Bank loans and overdrafts 113,602 111,993
Other taxes and social security 5,178 18,367
Other creditors 42,944 39,868
Accruals and deferred income 46,505 77,235
Directors' loan accounts 140 75
329,102 263,288
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 25,326 65,799
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 40,590 43,239
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
12. Share-Based Payments
Enterprise Management Incentives Scheme (EMIs)
The board grants options to purchase ordinary shares in the company to employees who enter into the EMI scheme. The options are granted at the determined fair value as at the grant date. The maximum term of the options granted is on the tenth anniversary of the grant date. 
Date of grant - 28/06/2019 
No. of shares outstanding at the beginning of the period - 55
No. of shares granted during the period - 0
No. of shares forfeited during the period - 0
No. of shares exercised during the period - 0
No. of shares expired during the period - 0
No. of shares outstanding at the end of the period - 55
No. of shares exercisable at the end of the period - 55
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