Acorah Software Products - Accounts Production 14.5.601 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12848583 Mr Julian Horberry Mr Jon Lister Mr Trevor Smeaton the directors true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12848583 2023-05-31 12848583 2024-05-31 12848583 2023-06-01 2024-05-31 12848583 frs-core:CurrentFinancialInstruments 2024-05-31 12848583 frs-core:Non-currentFinancialInstruments 2024-05-31 12848583 frs-core:BetweenOneFiveYears 2024-05-31 12848583 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-05-31 12848583 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-01 2024-05-31 12848583 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-05-31 12848583 frs-core:FurnitureFittings 2024-05-31 12848583 frs-core:FurnitureFittings 2023-06-01 2024-05-31 12848583 frs-core:FurnitureFittings 2023-05-31 12848583 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-01 2024-05-31 12848583 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 12848583 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 12848583 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 12848583 frs-core:MotorVehicles 2024-05-31 12848583 frs-core:MotorVehicles 2023-06-01 2024-05-31 12848583 frs-core:MotorVehicles 2023-05-31 12848583 frs-core:ShareCapital 2024-05-31 12848583 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12848583 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12848583 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12848583 frs-bus:SmallEntities 2023-06-01 2024-05-31 12848583 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12848583 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12848583 1 2023-06-01 2024-05-31 12848583 frs-core:UnlistedNon-exchangeTraded 2024-05-31 12848583 frs-core:UnlistedNon-exchangeTraded 2023-05-31 12848583 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-05-31 12848583 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 12848583 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-05-31 12848583 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-05-31 12848583 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 12848583 frs-bus:Director1 2023-06-01 2024-05-31 12848583 frs-bus:Director2 2023-06-01 2024-05-31 12848583 frs-bus:Director3 2023-06-01 2024-05-31 12848583 frs-countries:EnglandWales 2023-06-01 2024-05-31 12848583 2022-05-31 12848583 2023-05-31 12848583 2022-06-01 2023-05-31 12848583 frs-core:CurrentFinancialInstruments 2023-05-31 12848583 frs-core:Non-currentFinancialInstruments 2023-05-31 12848583 frs-core:BetweenOneFiveYears 2023-05-31 12848583 frs-core:ShareCapital 2023-05-31 12848583 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 12848583
Ihus Group Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Enterprise Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12848583
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 120,600 101,600
Tangible Assets 5 292,323 309,218
Investments 6 400 15,402
413,323 426,220
CURRENT ASSETS
Stocks 7 973,040 803,040
Debtors 8 649,351 1,352,917
Cash at bank and in hand 765,974 863,664
2,388,365 3,019,621
Creditors: Amounts Falling Due Within One Year 9 (789,803 ) (2,016,026 )
NET CURRENT ASSETS (LIABILITIES) 1,598,562 1,003,595
TOTAL ASSETS LESS CURRENT LIABILITIES 2,011,885 1,429,815
Creditors: Amounts Falling Due After More Than One Year 10 (95,878 ) (109,525 )
NET ASSETS 1,916,007 1,320,290
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 1,915,907 1,320,190
SHAREHOLDERS' FUNDS 1,916,007 1,320,290
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For the year ending 31 May 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 Trevor Smeaton
Director
23/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ihus Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12848583 . The registered office is Unit 3 Plumtree Farm Industrial Estate, Bircotes, Doncaster, DN11 8EW.
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
Intellectual property assets are the patents, designs and trade names relating to iHus and its products. It is amortised to the profit and loss account over its estimated economic life of 10 years following the year of acquisition.
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:
Leasehold 10% straight line
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 June 2023 101,600
Additions 19,000
As at 31 May 2024 120,600
Net Book Value
As at 31 May 2024 120,600
As at 1 June 2023 101,600
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 170,276 149,136 6,650 326,062
Additions 8,624 - - 8,624
As at 31 May 2024 178,900 149,136 6,650 334,686
...CONTINUED
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Page 5
Depreciation
As at 1 June 2023 - 14,126 2,718 16,844
Provided during the period - 21,587 3,932 25,519
As at 31 May 2024 - 35,713 6,650 42,363
Net Book Value
As at 31 May 2024 178,900 113,423 - 292,323
As at 1 June 2023 170,276 135,010 3,932 309,218
6. Investments
Unlisted
£
Cost
As at 1 June 2023 15,402
Disposals (15,002 )
As at 31 May 2024 400
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 400
As at 1 June 2023 15,402
7. Stocks
2024 2023
£ £
Work in progress 973,040 803,040
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 112,461 96,694
Amounts owed by group undertakings 99,085 809,131
Amounts owed by participating interests 386,208 363,917
Other debtors 51,597 83,175
649,351 1,352,917
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,194 55,988
Bank loans and overdrafts 4,881 7,263
Amounts owed to group undertakings 620,759 1,650,999
Other creditors 64,435 132,848
Taxation and social security 95,534 168,928
789,803 2,016,026
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 95,878 109,525
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 95,878 109,525
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
13. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their ownership of 100% of the issued share capital in the company.
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