Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10676157 Mr Adam Dickinson Mr Gareth Thatcher Mr Andrew Etches Mr Will Brass Mr Jake Brocklesby iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10676157 2023-03-31 10676157 2024-03-31 10676157 2023-04-01 2024-03-31 10676157 frs-core:CurrentFinancialInstruments 2024-03-31 10676157 frs-core:ComputerEquipment 2024-03-31 10676157 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10676157 frs-core:ComputerEquipment 2023-03-31 10676157 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 10676157 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 2024-03-31 10676157 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 10676157 frs-core:PlantMachinery 2024-03-31 10676157 frs-core:PlantMachinery 2023-04-01 2024-03-31 10676157 frs-core:PlantMachinery 2023-03-31 10676157 frs-core:SharePremium 2024-03-31 10676157 frs-core:ShareCapital 2024-03-31 10676157 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10676157 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10676157 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10676157 frs-bus:SmallEntities 2023-04-01 2024-03-31 10676157 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10676157 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10676157 frs-bus:Director1 2023-04-01 2024-03-31 10676157 frs-bus:Director1 2023-03-31 10676157 frs-bus:Director1 2024-03-31 10676157 frs-bus:Director2 2023-04-01 2024-03-31 10676157 frs-bus:Director2 2023-03-31 10676157 frs-bus:Director2 2024-03-31 10676157 frs-bus:Director3 2023-04-01 2024-03-31 10676157 frs-bus:Director3 2023-03-31 10676157 frs-bus:Director3 2024-03-31 10676157 frs-bus:Director4 2023-04-01 2024-03-31 10676157 frs-bus:Director5 2023-04-01 2024-03-31 10676157 frs-countries:EnglandWales 2023-04-01 2024-03-31 10676157 2022-03-31 10676157 2023-03-31 10676157 2022-04-01 2023-03-31 10676157 frs-core:CurrentFinancialInstruments 2023-03-31 10676157 frs-core:SharePremium 2023-03-31 10676157 frs-core:ShareCapital 2023-03-31 10676157 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10676157
Mi Hiepa Scout Limited
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—5
Page 1
Balance Sheet
Registered number: 10676157
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,377 2,377
Tangible Assets 5 113,991 107,461
116,368 109,838
CURRENT ASSETS
Debtors 6 224,226 529,489
Cash at bank and in hand 1,928,971 1,896,872
2,153,197 2,426,361
Creditors: Amounts Falling Due Within One Year 7 (160,181 ) (95,986 )
NET CURRENT ASSETS (LIABILITIES) 1,993,016 2,330,375
TOTAL ASSETS LESS CURRENT LIABILITIES 2,109,384 2,440,213
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,110 ) (20,869 )
NET ASSETS 2,087,274 2,419,344
CAPITAL AND RESERVES
Called up share capital 180 157
Share premium account 6,499,922 4,999,945
Profit and Loss Account (4,412,828 ) (2,580,758 )
SHAREHOLDERS' FUNDS 2,087,274 2,419,344
Page 1
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 Adam Dickinson
Director
21st October 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
Mi Hiepa Scout Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10676157 . The registered office is 2nd Floor 4 Jordan Street, Manchester, M15 4PY.
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 - Intellectual Property
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business
combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
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:
Plant & Machinery 50% on cost
Computer Equipment 33% on cost
2.5. 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.
2.6. 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 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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.
2.7. 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: 14 (2023: 10)
14 10
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 April 2023 2,377
As at 31 March 2024 2,377
Net Book Value
As at 31 March 2024 2,377
As at 1 April 2023 2,377
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 231,624 106,140 337,764
Additions 37,610 52,422 90,032
As at 31 March 2024 269,234 158,562 427,796
Depreciation
As at 1 April 2023 174,973 55,330 230,303
Provided during the period 49,821 33,681 83,502
As at 31 March 2024 224,794 89,011 313,805
Net Book Value
As at 31 March 2024 44,440 69,551 113,991
As at 1 April 2023 56,651 50,810 107,461
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 122,139 188,251
Prepayments and accrued income 36,228 14,848
Other debtors 28,502 8,349
Corporation tax recoverable assets - 275,126
VAT 16,212 21,451
Directors' loan accounts 21,145 21,464
224,226 529,489
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,555 24,211
Other taxes and social security 20,805 536
Other creditors 55,403 63,484
Accruals and deferred income 70,418 7,755
160,181 95,986
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Adam Dickinson 6,300 120 500 - 5,920
Mr Gareth Thatcher 7,773 25 - - 7,798
Mr Andrew Etches 7,391 36 - - 7,427
The above loan is unsecured, interest free and repayable on demand.
Page 5