Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 29 August 2024 1 April 2023 31 March 2024 31 March 2024 12364000 E V Bartlett N K Graham M R Norden M R Norden Hicomply Group Limited Portland House, Belmont Business Park, Durham. DH1 1TW true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12364000 2023-03-31 12364000 2024-03-31 12364000 2023-04-01 2024-03-31 12364000 frs-core:CurrentFinancialInstruments 2024-03-31 12364000 frs-core:Non-currentFinancialInstruments 2024-03-31 12364000 frs-core:ComputerEquipment 2024-03-31 12364000 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12364000 frs-core:ComputerEquipment 2023-03-31 12364000 frs-core:FurnitureFittings 2024-03-31 12364000 frs-core:FurnitureFittings 2023-04-01 2024-03-31 12364000 frs-core:FurnitureFittings 2023-03-31 12364000 frs-core:SharePremium 2024-03-31 12364000 frs-core:ShareCapital 2024-03-31 12364000 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12364000 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12364000 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12364000 frs-bus:SmallEntities 2023-04-01 2024-03-31 12364000 frs-bus:Audited 2023-04-01 2024-03-31 12364000 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12364000 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12364000 frs-bus:OrdinaryShareClass1 2024-03-31 12364000 frs-bus:OrdinaryShareClass2 2023-04-01 2024-03-31 12364000 frs-bus:OrdinaryShareClass2 2024-03-31 12364000 1 2023-04-01 2024-03-31 12364000 frs-bus:Director1 2023-04-01 2024-03-31 12364000 frs-bus:Director2 2023-04-01 2024-03-31 12364000 frs-bus:Director3 2023-04-01 2024-03-31 12364000 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 12364000 frs-countries:EnglandWales 2023-04-01 2024-03-31 12364000 2022-03-31 12364000 2023-03-31 12364000 2022-04-01 2023-03-31 12364000 frs-core:CurrentFinancialInstruments 2023-03-31 12364000 frs-core:Non-currentFinancialInstruments 2023-03-31 12364000 frs-core:SharePremium 2023-03-31 12364000 frs-core:ShareCapital 2023-03-31 12364000 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 12364000 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 12364000 frs-bus:OrdinaryShareClass2 2022-04-01 2023-03-31
Registered number: 12364000
Hicomply Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12364000
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,975 10,164
6,975 10,164
CURRENT ASSETS
Debtors 5 307,300 344,905
Cash at bank and in hand 300,471 1,197,815
607,771 1,542,720
Creditors: Amounts Falling Due Within One Year 6 (726,100 ) (475,161 )
NET CURRENT ASSETS (LIABILITIES) (118,329 ) 1,067,559
TOTAL ASSETS LESS CURRENT LIABILITIES (111,354 ) 1,077,723
Creditors: Amounts Falling Due After More Than One Year 7 (3,557,839 ) (3,256,597 )
NET LIABILITIES (3,669,193 ) (2,178,874 )
CAPITAL AND RESERVES
Called up share capital 8 405 405
Share premium account 578,996 578,996
Profit and Loss Account (4,248,594 ) (2,758,275 )
SHAREHOLDERS' FUNDS (3,669,193) (2,178,874)
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
M R Norden
Director
29/08/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Hicomply Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12364000 . The registered office is Portland House, Belmont Business Park, Durham, DH1 1TW.
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. The company's functional and presentational currency is GBP.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
2.3. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. 
The company recognises revenue when: 
The amount of revenue can be reliably measured; 
it is probable that future economic benefits will flow to the entity; 
and specific criteria have been met for each of the company's activities.
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:
Fixtures & Fittings 33% straight line
Computer Equipment 33% straight line
2.5. 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. 
2.6. Research and Development Costs
Expenditure on research and development is written off against profits in the year in which it is incurred.
2.7. Exceptional Costs
Included in administrative expenses are £13,184 (2023: £83,507) of exceptional operating costs relating to reorganisation costs during the year.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 19)
17 19
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Page 3
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 992 23,048 24,040
Additions 545 2,317 2,862
As at 31 March 2024 1,537 25,365 26,902
Depreciation
As at 1 April 2023 123 13,753 13,876
Provided during the period 395 5,656 6,051
As at 31 March 2024 518 19,409 19,927
Net Book Value
As at 31 March 2024 1,019 5,956 6,975
As at 1 April 2023 869 9,295 10,164
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120,604 39,042
Prepayments and accrued income 41,049 43,398
Other debtors 145,647 262,465
307,300 344,905
The company has an unprovided deferred tax asset of £635,431 (2023: £418,431) in relation to unrelieved tax losses.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 56,908 22,470
Bank loans and overdrafts 5,905 5,905
Other taxes and social security 44,409 114,602
VAT 34,650 15,596
Other creditors 2,721 34,168
Accruals and deferred income 581,507 282,420
726,100 475,161
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 30,619 36,616
Amounts owed to parent undertaking 3,527,220 3,219,981
3,557,839 3,256,597
The creditor amounts due after more than five years is £6,910 (2023: £12,815)
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Page 4
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
30,000 Ordinary Shares of £ 0.01 each 300 300
10,525 Ordinary A shares of £ 0.01 each 105 105
405 405
9. Pension Commitments
The company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,721 (2023: £2,669) were due to the fund. They are included in other creditors.
10. Post Balance Sheet Events
£2 million of finance was raised in April 2024 in the parent entity. As a result, BGF Nominees Ltd have a charge on the business assets of Hicomply Ltd.
11. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use team members from the same firm as our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Hicomply Group Limited . Hicomply Group Limited was incorporated in the United Kingdom, registered in England and Wales. Copies of the group accounts may be obtained from the secretary, Portland House, Belmont Business Park, Durham. DH1 1TW . The ultimate controlling party is Hicomply Group Limited who controls 100% of the shares of Hicomply Ltd .
13. Audit Information
The auditors report on the account of Hicomply Ltd for the year ended 31 March 2024 was unqualified
The auditor's report was signed by Jon Dudgeon (Senior Statutory Auditor) for and on behalf of Blu Sky Tax Limited , Statutory Auditor
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