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REGISTERED NUMBER: 09192382 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HARNESS HANDITOUCH UK PRIVATE LIMITED

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARNESS HANDITOUCH UK PRIVATE LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: P Ullmo
E ULLMO





REGISTERED OFFICE: 24a Cranley Gardens
London
Greater London
SW7 3DD





REGISTERED NUMBER: 09192382 (England and Wales)





ACCOUNTANTS: Vera Group Ltd
15 Hanover Square
London
W1S 1HS

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - -
Investments 6 36,835 36,835
36,835 36,835

CURRENT ASSETS
Cash at bank 4,514 10,477

CREDITORS
Amounts falling due within one year 7 77,052 76,983
NET CURRENT LIABILITIES (72,538 ) (66,506 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(35,703

)

(29,671

)

CREDITORS
Amounts falling due after more than one
year

8

517,619

498,196
NET LIABILITIES (553,322 ) (527,867 )

CAPITAL AND RESERVES
Called up share capital 486,645 486,645
Share premium 2,263,819 2,263,819
Retained earnings (3,303,786 ) (3,278,331 )
(553,322 ) (527,867 )

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2024 and were signed on its behalf by:





E ULLMO - Director


HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Harness Handitouch Uk Private Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets
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.

Intellectual property is being amortised evenly over its estimated useful life of nil years.

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 20% straight line
Intellectual Property - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. The amortisation charge for intangible assets is included in cost of sales.

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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
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.

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The financial statements have been prepared on the going concern basis. At the balance sheet date the company has net current liabilities. The directors are of the opinion that the shareholders of the company will support it, and provide adequate funding necessary to enable it to meet its obligations for the foreseeable future, being for period of at least twelve months from the date of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Intellectual
Goodwill property Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 117,853 271,143 388,996
AMORTISATION
At 1 April 2023
and 31 March 2024 117,853 271,143 388,996
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 2,324
DEPRECIATION
At 1 April 2023
and 31 March 2024 2,324
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment 36,835 36,835

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12 6
Amounts owed to group undertakings 55,429 55,429
Other creditors 21,611 21,548
77,052 76,983

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 517,619 498,196

Included in other creditors falling due after one year, is an amount of £260,174 (2023: £248,563) which is secured by a fixed and floating charge over the assets of the company. An annual facility fee of 12.5% is payable on the outstanding loan balance. The remaining £257,445 (2023: £249,633) is unsecured. Interest varies between Nil and 10% per annum on the outstanding loan balance.

HARNESS HANDITOUCH UK PRIVATE LIMITED (REGISTERED NUMBER: 09192382)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. RELATED PARTY DISCLOSURES

At the year end the company had £415,443 (2023: £394,056) convertible debt outstanding with shareholders. Of this amount, £260,174 (2023: £248,563) is secured as detailed in note 8.