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Registered number: 09307996
Hello Flamingo Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09307996
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,340 4,042
Tangible Assets 5 308,690 225,509
311,030 229,551
CURRENT ASSETS
Debtors 7 295,797 384,037
Cash at bank and in hand 4,280 126,820
300,077 510,857
Creditors: Amounts Falling Due Within One Year 8 (347,081 ) (325,805 )
NET CURRENT ASSETS (LIABILITIES) (47,004 ) 185,052
TOTAL ASSETS LESS CURRENT LIABILITIES 264,026 414,603
Creditors: Amounts Falling Due After More Than One Year 9 (209,460 ) (187,197 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (54,448 ) (56,377 )
NET ASSETS 118 171,029
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 18 170,929
SHAREHOLDERS' FUNDS 118 171,029
Page 1
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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
Miss Paula Bestford
Director
Mr Rupert Solis
Director
17/09/2024
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
Hello Flamingo Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09307996 . The registered office is D6 Eastside Business Park, Beach Road, Newhaven, BN9 0FB.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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 5 years straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 3 years straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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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 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.
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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 14)
14 14
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 8,750
As at 31 December 2023 8,750
Amortisation
As at 1 January 2023 4,708
Provided during the period 1,702
As at 31 December 2023 6,410
Net Book Value
As at 31 December 2023 2,340
As at 1 January 2023 4,042
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 147,933 240,182 32,540 10,543
Additions - 120,139 38,950 454
As at 31 December 2023 147,933 360,321 71,490 10,997
Depreciation
As at 1 January 2023 96,567 93,603 20,542 4,388
Provided during the period 29,599 33,139 11,114 978
As at 31 December 2023 126,166 126,742 31,656 5,366
Net Book Value
As at 31 December 2023 21,767 233,579 39,834 5,631
As at 1 January 2023 51,366 146,579 11,998 6,155
Computer Equipment Total
£ £
Cost
As at 1 January 2023 27,719 458,917
Additions 3,966 163,509
As at 31 December 2023 31,685 622,426
Depreciation
As at 1 January 2023 18,308 233,408
Provided during the period 5,498 80,328
As at 31 December 2023 23,806 313,736
Net Book Value
As at 31 December 2023 7,879 308,690
As at 1 January 2023 9,411 225,509
6. Stocks
2023 2022
£ £
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 195,149 343,924
Other debtors 100,648 40,113
295,797 384,037
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 39,153 17,164
Trade creditors 125,724 98,358
Bank loans and overdrafts 62,224 61,863
Other creditors 39,678 38,384
Taxation and social security 80,302 110,036
347,081 325,805
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 126,604 42,117
Bank loans 82,856 145,080
209,460 187,197
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 39,153 17,164
Later than one year and not later than five years 126,604 42,117
165,757 59,281
165,757 59,281
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Miss Paula Bestford (2,529 ) 36,356 - - 33,827
Mr Rurpert Solis (2,529 ) 36,355 - - 33,826
The above loan is unsecured, interest free and repayable on demand.
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