Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 08834029 Mr Lyndon Docherty iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08834029 2023-01-31 08834029 2024-01-31 08834029 2023-02-01 2024-01-31 08834029 frs-core:CurrentFinancialInstruments 2024-01-31 08834029 frs-core:Non-currentFinancialInstruments 2024-01-31 08834029 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 08834029 frs-core:OtherResidualIntangibleAssets 2024-01-31 08834029 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 08834029 frs-core:OtherResidualIntangibleAssets 2023-01-31 08834029 frs-core:PlantMachinery 2024-01-31 08834029 frs-core:PlantMachinery 2023-02-01 2024-01-31 08834029 frs-core:PlantMachinery 2023-01-31 08834029 frs-core:SharePremium 2024-01-31 08834029 frs-core:ShareCapital 2024-01-31 08834029 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08834029 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08834029 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08834029 frs-bus:SmallEntities 2023-02-01 2024-01-31 08834029 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08834029 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08834029 frs-bus:Director1 2023-02-01 2024-01-31 08834029 frs-countries:EnglandWales 2023-02-01 2024-01-31 08834029 2022-01-31 08834029 2023-01-31 08834029 2022-02-01 2023-01-31 08834029 frs-core:CurrentFinancialInstruments 2023-01-31 08834029 frs-core:Non-currentFinancialInstruments 2023-01-31 08834029 frs-core:SharePremium 2023-01-31 08834029 frs-core:ShareCapital 2023-01-31 08834029 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 08834029
Hivemind Network Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08834029
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,802 6,886
Tangible Assets 5 34,348 91,876
36,150 98,762
CURRENT ASSETS
Debtors 6 846,008 1,129,649
Cash at bank and in hand 2,063,646 2,083,632
2,909,654 3,213,281
Creditors: Amounts Falling Due Within One Year 7 (1,949,967 ) (2,321,790 )
NET CURRENT ASSETS (LIABILITIES) 959,687 891,491
TOTAL ASSETS LESS CURRENT LIABILITIES 995,837 990,253
Creditors: Amounts Falling Due After More Than One Year 8 - (86,104 )
NET ASSETS 995,837 904,149
CAPITAL AND RESERVES
Called up share capital 9 3,424 3,424
Share premium account 35,964 35,964
Profit and Loss Account 956,449 864,761
SHAREHOLDERS' FUNDS 995,837 904,149
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Lyndon Docherty
Director
21/10/2024
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
Hivemind Network Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08834029 . The registered office is Anvil Cottage, Dodds Lane, Pyrford, Surrey, GU22 8UW.
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 represents net invoiced sales of services, excluding value added tax.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Development costs are being amortised evenly over their estimated useful life of three years. 
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery etc - 50% on cost and 25% on cost
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.6. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 12)
17 12
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Page 4
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 February 2023 10,074
As at 31 January 2024 10,074
Amortisation
As at 1 February 2023 3,188
Provided during the period 5,084
As at 31 January 2024 8,272
Net Book Value
As at 31 January 2024 1,802
As at 1 February 2023 6,886
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 February 2023 198,834
Additions 6,965
Disposals (5,600 )
As at 31 January 2024 200,199
Depreciation
As at 1 February 2023 106,958
Provided during the period 63,789
Disposals (4,896 )
As at 31 January 2024 165,851
Net Book Value
As at 31 January 2024 34,348
As at 1 February 2023 91,876
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 682,494 1,008,859
Other debtors 163,514 120,790
846,008 1,129,649
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 643,328 767,480
Bank loans and overdrafts - 30,327
Other creditors 1,094,216 1,255,277
Taxation and social security 212,423 268,706
1,949,967 2,321,790
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans - 86,104
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 3,424 3,424
10. Related Party Transactions
At the year end the director advanced the company £985 (As at 31st Jan 2023: £53,070). The loan is unsecured, interest free and repayable on demand.
Page 5