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Registered number: 10717922
Hallgate360 Ltd
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10717922
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 755 655
755 655
CURRENT ASSETS
Stocks 5 1,980 -
Cash at bank and in hand 40,156 26,756
42,136 26,756
Creditors: Amounts Falling Due Within One Year 6 (14,868 ) (14,785 )
NET CURRENT ASSETS (LIABILITIES) 27,268 11,971
TOTAL ASSETS LESS CURRENT LIABILITIES 28,023 12,626
NET ASSETS 28,023 12,626
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 28,022 12,625
SHAREHOLDERS' FUNDS 28,023 12,626
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For the year ending 30 April 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 Philip Hayton
Director
29 January 2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hallgate360 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10717922 . The registered office is Yew Tree Barn, Dale Road, Stanton By Dale, Derbyshire, DE7 4PE.
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:
Computer Equipment 33% Reducing Balance
2.4. 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.
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 3,424
Additions 336
As at 30 April 2024 3,760
Depreciation
As at 1 May 2023 2,769
Provided during the period 236
As at 30 April 2024 3,005
Net Book Value
As at 30 April 2024 755
As at 1 May 2023 655
5. Stocks
2024 2023
£ £
Work in progress 1,980 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 7,392 6,225
VAT 469 961
Accruals and deferred income 750 750
Director's loan account 6,257 6,849
14,868 14,785
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
At the balance sheet date, the amount owed to the directors' through the directors loan accounts was £6,257 (2023: £6,849). 
The directors loan accounts are unsecured, interest free and repayable on demand. 
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