Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12117676 Mr Eero Laaksonen Goodwille Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12117676 2023-03-31 12117676 2024-03-31 12117676 2023-04-01 2024-03-31 12117676 frs-core:CurrentFinancialInstruments 2024-03-31 12117676 frs-core:OtherReservesSubtotal 2024-03-31 12117676 frs-core:SharePremium 2024-03-31 12117676 frs-core:ShareCapital 2024-03-31 12117676 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12117676 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12117676 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12117676 frs-bus:SmallEntities 2023-04-01 2024-03-31 12117676 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12117676 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12117676 frs-core:UnlistedNon-exchangeTraded 2024-03-31 12117676 frs-core:UnlistedNon-exchangeTraded 2023-03-31 12117676 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 12117676 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 12117676 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 12117676 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 12117676 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 12117676 frs-bus:Director1 2023-04-01 2024-03-31 12117676 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 12117676 frs-countries:EnglandWales 2023-04-01 2024-03-31 12117676 2022-03-31 12117676 2023-03-31 12117676 2022-04-01 2023-03-31 12117676 frs-core:CurrentFinancialInstruments 2023-03-31 12117676 frs-core:OtherReservesSubtotal 2023-03-31 12117676 frs-core:SharePremium 2023-03-31 12117676 frs-core:ShareCapital 2023-03-31 12117676 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12117676
Valohai Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Goodwille Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12117676
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 3,443,279 2,003,632
3,443,279 2,003,632
CURRENT ASSETS
Debtors 5 165,303 1,000
Cash at bank and in hand 33,444 1,649
198,747 2,649
Creditors: Amounts Falling Due Within One Year 6 (180,415 ) (17,967 )
NET CURRENT ASSETS (LIABILITIES) 18,332 (15,318 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,461,611 1,988,314
NET ASSETS 3,461,611 1,988,314
CAPITAL AND RESERVES
Called up share capital 7 15,668 15,668
Share premium account 923,833 923,833
Other reserves 2,530,296 1,063,512
Profit and Loss Account (8,186 ) (14,699 )
SHAREHOLDERS' FUNDS 3,461,611 1,988,314
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 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 Eero Laaksonen
Director
12/11/2024
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
Valohai Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12117676 . The registered office is 77 New Cavendish Street, London, W1W 6XB.
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 have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. 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 rendering of services. Turnover is reduced for estimated returns, rebates and other similar allowances.
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.
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
2.6. 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.
2.7. 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 year 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.
2.8. 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.
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2.9. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
2.10. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.12. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.13. Disclosure of Simple Agreement for Future Equity (SAFE)
The company has entered into a Simple Agreement for Future Equity (SAFE) with certain investors, under which it has received cash funds that may convert into equity upon a qualified financing event or other specified events in the future. The total amount received at the end of our accounting period was £2,530,296 which the company considers as equity until conversion or redemption.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: NIL)
2 -
4. Investments
Unlisted
£
Cost
As at 1 April 2023 2,003,632
Additions 1,439,647
As at 31 March 2024 3,443,279
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 3,443,279
As at 1 April 2023 2,003,632
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5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,656 1,000
Amounts owed by group undertakings 163,647 -
165,303 1,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,035 -
Corporation tax 4,057 350
Other taxes and social security 26,550 -
Net wages 2,919 -
Other creditors 1,844 -
Accruals and deferred income 28,275 1,500
Amounts owed to group undertakings 112,735 16,117
180,415 17,967
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 15,668 15,668
8. Dividends
No dividends were proposed or paid during the year or prior period. 
9. Related Party Transactions
The company is a parent of Valohai OY, a company incorporated in Finland. Valohai OY is a wholly owned subsidiary and therefore qualifies as a related party under FRS 102. In accordance with FRS 102 Section 1A, the company has not disclosed transactions or balances with wholly owned subsidiaries.
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