Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12591471 Ms NWAKAEGO OBI iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12591471 2023-05-31 12591471 2024-05-31 12591471 2023-06-01 2024-05-31 12591471 frs-core:CurrentFinancialInstruments 2024-05-31 12591471 frs-core:Non-currentFinancialInstruments 2024-05-31 12591471 frs-core:ComputerEquipment 2024-05-31 12591471 frs-core:ComputerEquipment 2023-06-01 2024-05-31 12591471 frs-core:ComputerEquipment 2023-05-31 12591471 frs-core:ShareCapital 2024-05-31 12591471 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12591471 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12591471 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12591471 frs-bus:SmallEntities 2023-06-01 2024-05-31 12591471 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12591471 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12591471 frs-bus:Director1 2023-06-01 2024-05-31 12591471 frs-countries:EnglandWales 2023-06-01 2024-05-31 12591471 2022-05-31 12591471 2023-05-31 12591471 2022-06-01 2023-05-31 12591471 frs-core:CurrentFinancialInstruments 2023-05-31 12591471 frs-core:Non-currentFinancialInstruments 2023-05-31 12591471 frs-core:ShareCapital 2023-05-31 12591471 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 12591471
HIPSIMPLICITY LTD
Unaudited Financial Statements
For The Year Ended 31 May 2024
DIM-BLISSTON & CO
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12591471
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 643 857
643 857
CURRENT ASSETS
Investments 5 196,295 182,863
Cash at bank and in hand 1,634 2,339
197,929 185,202
Creditors: Amounts Falling Due Within One Year 6 (194,685 ) (194,536 )
NET CURRENT ASSETS (LIABILITIES) 3,244 (9,334 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,887 (8,477 )
Creditors: Amounts Falling Due After More Than One Year 7 (24,251 ) -
NET LIABILITIES (20,364 ) (8,477 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (20,365 ) (8,478 )
SHAREHOLDERS' FUNDS (20,364) (8,477)
Page 1
Page 2
For the year ending 31 May 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 her 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
Ms NWAKAEGO OBI
Director
27/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HIPSIMPLICITY LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12591471 . The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ.
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 25%
3. Average Number of Employees
1Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 1,345
As at 31 May 2024 1,345
Depreciation
As at 1 June 2023 488
Provided during the period 214
As at 31 May 2024 702
Net Book Value
As at 31 May 2024 643
As at 1 June 2023 857
Page 3
Page 4
5. Current Asset Investments
2024 2023
£ £
Other investments, held for sale 196,295 182,863
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,395 24,251
Accruals and deferred income 500 500
Director's loan account 183,790 169,785
194,685 194,536
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 24,251 -
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4