Acorah Software Products - Accounts Production 16.1.200 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10266413 Mr Hieu Nguyen Mrs Quynh Nguyen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10266413 2023-07-31 10266413 2024-07-31 10266413 2023-08-01 2024-07-31 10266413 frs-core:Non-currentFinancialInstruments 2024-07-31 10266413 frs-core:FurnitureFittings 2024-07-31 10266413 frs-core:FurnitureFittings 2023-08-01 2024-07-31 10266413 frs-core:FurnitureFittings 2023-07-31 10266413 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 10266413 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 10266413 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 10266413 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 10266413 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10266413 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 10266413 frs-core:PlantMachinery 2024-07-31 10266413 frs-core:PlantMachinery 2023-08-01 2024-07-31 10266413 frs-core:PlantMachinery 2023-07-31 10266413 frs-core:ShareCapital 2024-07-31 10266413 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10266413 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10266413 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10266413 frs-bus:SmallEntities 2023-08-01 2024-07-31 10266413 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10266413 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10266413 frs-bus:Director1 2023-08-01 2024-07-31 10266413 frs-bus:Director1 2023-07-31 10266413 frs-bus:Director1 2024-07-31 10266413 frs-bus:Director2 2023-08-01 2024-07-31 10266413 frs-bus:Director2 2023-07-31 10266413 frs-bus:Director2 2024-07-31 10266413 frs-countries:EnglandWales 2023-08-01 2024-07-31 10266413 2022-07-31 10266413 2023-07-31 10266413 2022-08-01 2023-07-31 10266413 frs-core:Non-currentFinancialInstruments 2023-07-31 10266413 frs-core:ShareCapital 2023-07-31 10266413 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 10266413
HQ Investments Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10266413
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 318,353 318,733
318,353 318,733
CURRENT ASSETS
Debtors 5 266 290
Cash at bank and in hand 4,410 59,438
4,676 59,728
Creditors: Amounts Falling Due Within One Year 6 (125,048 ) (173,048 )
NET CURRENT ASSETS (LIABILITIES) (120,372 ) (113,320 )
TOTAL ASSETS LESS CURRENT LIABILITIES 197,981 205,413
Creditors: Amounts Falling Due After More Than One Year 7 (209,652 ) (209,652 )
NET LIABILITIES (11,671 ) (4,239 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (11,672 ) (4,240 )
SHAREHOLDERS' FUNDS (11,671) (4,239)
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For the year ending 31 July 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 Hieu Nguyen
Director
09/11/2024
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
HQ Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10266413 . The registered office is 5 Farrington Street, Chorley, Lancashire, PR7 1DY.
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. 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:
Freehold Nil
Leasehold Nil
Plant & Machinery Nil
Fixtures & Fittings 20% SLM
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to thecontractual 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.Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.All other such investments are subsequently measured at cost less impairment.Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.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 or 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.
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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. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 August 2023 160,077 158,276 200 7,487 326,040
Disposals - - - (7,487 ) (7,487 )
As at 31 July 2024 160,077 158,276 200 - 318,553
Depreciation
As at 1 August 2023 - - 200 7,107 7,307
Provided during the period - - - 380 380
Disposals - - - (7,487 ) (7,487 )
As at 31 July 2024 - - 200 - 200
Net Book Value
As at 31 July 2024 160,077 158,276 - - 318,353
As at 1 August 2023 160,077 158,276 - 380 318,733
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 266 290
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 125,048 173,048
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 209,652 209,652
The long-term loans are secured by fixed charges over the investment properties.
Included within creditors: amounts falling due after more than one year is an amount of £ 209,652 (2023 £ 209,652 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Hieu Nguyen 107,000 - (27,775 ) - 79,225
Mrs Quynh Nguyen 46,178 - (12,225 ) - 33,953
The above loan is unsecured, interest free and repayable on demand.
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