Acorah Software Products - Accounts Production 15.0.600 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 11780909 Mr R Basile Ms E Craft Mr P Lepine Mr I Pezzilli true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11780909 2023-01-31 11780909 2024-01-31 11780909 2023-02-01 2024-01-31 11780909 frs-core:CurrentFinancialInstruments 2024-01-31 11780909 frs-core:ComputerEquipment 2024-01-31 11780909 frs-core:ComputerEquipment 2023-02-01 2024-01-31 11780909 frs-core:ComputerEquipment 2023-01-31 11780909 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 11780909 frs-core:FurnitureFittings 2024-01-31 11780909 frs-core:FurnitureFittings 2023-02-01 2024-01-31 11780909 frs-core:FurnitureFittings 2023-01-31 11780909 frs-core:OtherResidualIntangibleAssets 2024-01-31 11780909 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 11780909 frs-core:OtherResidualIntangibleAssets 2023-01-31 11780909 frs-core:SharePremium 2024-01-31 11780909 frs-core:ShareCapital 2024-01-31 11780909 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11780909 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11780909 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 11780909 frs-bus:SmallEntities 2023-02-01 2024-01-31 11780909 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11780909 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11780909 1 2023-02-01 2024-01-31 11780909 frs-bus:Director1 2023-02-01 2024-01-31 11780909 frs-bus:Director2 2023-02-01 2024-01-31 11780909 frs-bus:Director3 2023-02-01 2024-01-31 11780909 frs-bus:Director4 2023-02-01 2024-01-31 11780909 frs-countries:EnglandWales 2023-02-01 2024-01-31 11780909 2022-01-31 11780909 2023-01-31 11780909 2022-02-01 2023-01-31 11780909 frs-core:CurrentFinancialInstruments 2023-01-31 11780909 frs-core:SharePremium 2023-01-31 11780909 frs-core:ShareCapital 2023-01-31 11780909 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 11780909
GuyBrush Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11780909
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 337
Tangible Assets 5 8,991 19,768
8,991 20,105
CURRENT ASSETS
Stocks 6 78,719 158,438
Debtors 7 96,398 221,248
Cash at bank and in hand 616,971 1,203,827
792,088 1,583,513
Creditors: Amounts Falling Due Within One Year 8 (251,440 ) (3,435,187 )
NET CURRENT ASSETS (LIABILITIES) 540,648 (1,851,674 )
TOTAL ASSETS LESS CURRENT LIABILITIES 549,639 (1,831,569 )
NET ASSETS/(LIABILITIES) 549,639 (1,831,569 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium account 8,356,001 5,120,095
Profit and Loss Account (7,806,364 ) (6,951,666 )
SHAREHOLDERS' FUNDS 549,639 (1,831,569)
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 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 R Basile
Director
27 October 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
GuyBrush Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11780909 . The registered office is 24 Highbury Grove Highbury Grove, London, N5 2EA.
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 directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
2.3. Significant judgements and estimations
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.
2.4. Turnover
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Commissions are earned by the company acting as an agent and providing an internet marketplace for its customers. Commissions is based on the gross value of sales made through the market place.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account over its estimated economic life of three years.
2.6. 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:
Fixtures & Fittings Straight line over 5 years
Computer Equipment Straight line over 4 years
2.7. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.8. Financial Instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial instruments
...CONTINUED
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2.8. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute and financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently at amortised cost using the effective interest method.
2.9. 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.
2.10. 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.
2.11. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 9)
7 9
Page 4
Page 5
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 1,010
As at 31 January 2024 1,010
Amortisation
As at 1 February 2023 673
Provided during the period 337
As at 31 January 2024 1,010
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 337
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 - 39,061 39,061
Additions 308 3,420 3,728
Disposals - (9,408 ) (9,408 )
As at 31 January 2024 308 33,073 33,381
Depreciation
As at 1 February 2023 - 19,293 19,293
Provided during the period 21 9,879 9,900
Disposals - (4,803 ) (4,803 )
As at 31 January 2024 21 24,369 24,390
Net Book Value
As at 31 January 2024 287 8,704 8,991
As at 1 February 2023 - 19,768 19,768
6. Stocks
2024 2023
£ £
Stock 78,719 158,438
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,891 5,680
Other debtors 72,507 215,568
96,398 221,248
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Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 155,151 81,788
Other creditors 62,107 3,330,387
Taxation and social security 34,182 23,012
251,440 3,435,187
During the year the convertible loan note converted into equity.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Ultimate Controlling Party
The ultimate controlling parties are Mr R Basile and Ms E Craft by virtue of majority shareholding.
11. SHARE-BASED PAYMENT TRANSACTIONS
Approved Share Option Plan
The Company operates an Approved EMI Share Option Plan where certain employees are granted options to purchase shares in the company. On exercise of the options by the employees, the Company issues new shares. The vesting schedule varies with each grant but in all instances, the options are only exercisable on a sale event so at the balance sheet date, no options are eligible to be exercised
The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year under the Approved EMI Share Option Plan.
The Company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share schemes similar to the scheme the Company have in place.

Approved Options
2024
2024
2023
2023
No.
image
WAEP £
image
No.
image
WAEP £
image
Outstanding at 1 Feb
1,050
3.32
2,400
3.32
Granted during the year
-
-
-
-
Lapsed during the year
-
-
(901)
3.32
Transfer to unapproved
-
image
-
image
(449)
image
3.32
image
Outstanding at 31 Jan
1,050image
3.32
image
1,050
image
3.32
image



Unapproved Share Option Plan
The company also operate an unapproved share option plan for certain individuals. Under this plan, individuals are granted options over Ordinary shares with options vesting under differing schedules. Again, options under this plan have been granted at an exercise price equal to the fair value of the shares under option at the time of grant and therefore no expense is recognised in the financial statements for the options granted under this plan.
The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year under the Unapproved Share Option Plan.
The Company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share schemes similar to the scheme the Company have in place.


...CONTINUED
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Unapproved Options
2024
2024
2023
2023
No.
image
WAEP £
image
No.
image
WAEP £
image
Outstanding at 1 Feb
6,451
3.32
6,027
3.32
Granted during the year
-
-
575
-
Lapsed during the year
-
-
(510)
3.32
Transfer from approved

-
image
-
image
(449)
image
3.32
image
Outstanding at 31 Jan
6,451image
3.32
image
6,451
image
3.32
image
 There was no charge in the year.
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