Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09899497 Mrs Helen Claydon Mr Andrew Townsend Mr Ian Peace the directors true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09899497 2022-12-31 09899497 2023-12-31 09899497 2023-01-01 2023-12-31 09899497 frs-core:CurrentFinancialInstruments 2023-12-31 09899497 frs-core:Non-currentFinancialInstruments 2023-12-31 09899497 frs-core:ComputerEquipment 2023-12-31 09899497 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09899497 frs-core:ComputerEquipment 2022-12-31 09899497 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 09899497 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 09899497 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 09899497 frs-core:NetGoodwill 2023-12-31 09899497 frs-core:NetGoodwill 2023-01-01 2023-12-31 09899497 frs-core:NetGoodwill 2022-12-31 09899497 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 09899497 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 09899497 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09899497 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 09899497 frs-core:RevaluationReserve 2022-12-31 09899497 frs-core:RevaluationReserve 2023-12-31 09899497 frs-core:SharePremium 2023-12-31 09899497 frs-core:ShareCapital 2023-12-31 09899497 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09899497 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09899497 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09899497 frs-bus:SmallEntities 2023-01-01 2023-12-31 09899497 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09899497 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09899497 1 2023-01-01 2023-12-31 09899497 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 09899497 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 09899497 frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899497 frs-core:UnlistedNon-exchangeTraded 2022-12-31 09899497 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 09899497 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899497 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899497 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 09899497 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899497 frs-bus:Director1 2023-01-01 2023-12-31 09899497 frs-bus:Director2 2023-01-01 2023-12-31 09899497 frs-bus:Director3 2023-01-01 2023-12-31 09899497 frs-countries:EnglandWales 2023-01-01 2023-12-31 09899497 2021-12-31 09899497 2022-12-31 09899497 2022-01-01 2022-12-31 09899497 frs-core:CurrentFinancialInstruments 2022-12-31 09899497 frs-core:Non-currentFinancialInstruments 2022-12-31 09899497 frs-core:RevaluationReserve 2022-12-31 09899497 frs-core:SharePremium 2022-12-31 09899497 frs-core:ShareCapital 2022-12-31 09899497 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09899497 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31
Registered number: 09899497
Haig Legal Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Enterprise Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09899497
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,145,272 7,867,183
Tangible Assets 5 1,244,048 1,226,916
Investments 6 835,002 2
13,224,322 9,094,101
CURRENT ASSETS
Debtors 7 2,499,270 1,490,762
Cash at bank and in hand 136,338 16,380
2,635,608 1,507,142
Creditors: Amounts Falling Due Within One Year 8 (1,918,915 ) (1,166,715 )
NET CURRENT ASSETS (LIABILITIES) 716,693 340,427
TOTAL ASSETS LESS CURRENT LIABILITIES 13,941,015 9,434,528
Creditors: Amounts Falling Due After More Than One Year 9 (1,550,823 ) (679,857 )
NET ASSETS 12,390,192 8,754,671
CAPITAL AND RESERVES
Called up share capital 10 501,000 501,000
Share premium account - 156,629
Revaluation reserve 11 275,154 275,154
Fair Value Reserve 11 11,145,272 7,361,980
Profit and Loss Account 468,766 459,908
SHAREHOLDERS' FUNDS 12,390,192 8,754,671
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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 Andrew Townsend
Director
24/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Haig Legal Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09899497 . The registered office is Fidelis House , 5 Low Moor Road , Lincoln , LN6 3JY.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

The directors note that there has not been any impairment in the value of the goodwill and accordingly have not applied any amortisation in the period to date.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are the directors valuation of the assets held under contract in storage and the future value of income those assets will generate.

The directors acknowledge that this method is not in accordance with GAAP but consider that not recognising these assets does not present a true and fair position of the company's commercial strategy and hence its overall value.

Reduction in the value of these assets would lead to a corresponding reduction in the fair value reserve.
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:
Freehold Not depreciated
Leasehold 20% Per annum on cost
Computer Equipment 20% Per annum on cost
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2.6. 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 year was: 7 (2022: 9)
7 9
4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost or Valuation
As at 1 January 2023 505,203 7,361,980 7,867,183
Revaluations - 3,783,292 3,783,292
As at 31 December 2023 505,203 11,145,272 11,650,475
Amortisation
As at 1 January 2023 - - -
Impairment losses 505,203 - 505,203
As at 31 December 2023 505,203 - 505,203
Net Book Value
As at 31 December 2023 - 11,145,272 11,145,272
As at 1 January 2023 505,203 7,361,980 7,867,183
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5. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 1,175,000 127,461 1,302,461
Additions - 53,280 53,280
As at 31 December 2023 1,175,000 180,741 1,355,741
Depreciation
As at 1 January 2023 - 75,545 75,545
Provided during the period - 36,148 36,148
As at 31 December 2023 - 111,693 111,693
Net Book Value
As at 31 December 2023 1,175,000 69,048 1,244,048
As at 1 January 2023 1,175,000 51,916 1,226,916
6. Investments
Unlisted
£
Cost
As at 1 January 2023 2
Additions 835,000
As at 31 December 2023 835,002
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 835,002
As at 1 January 2023 2
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 27,716
Amounts owed by group undertakings 1,959,508 1,218,814
Other debtors 539,762 244,232
2,499,270 1,490,762
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 47,063 (1,035 )
Amounts owed to group undertakings 1,393,292 778,875
Other creditors 137,747 51,217
Taxation and social security 340,813 337,658
1,918,915 1,166,715
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 715,823 679,857
Other creditors 835,000 -
1,550,823 679,857
The bank loan is secured by a legal mortgage in favour of the Company's bankers dated 1 November 2021.
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 501,000 501,000
11. Reserves
Revaluation Reserve Fair Value Reserve
£ £
As at 1 January 2023 275,154 7,361,980
Movements in fair value reserve - 3,783,292
As at 31 December 2023 275,154 11,145,272
12. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their control of 100% of the issued share capital in the company.
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