Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07377735 Mr Michael Hyltoft Mr Benjamin Johnson Mrs Nguyet Robbins Ben Johnson true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07377735 2023-12-31 07377735 2024-12-31 07377735 2024-01-01 2024-12-31 07377735 frs-core:CurrentFinancialInstruments 2024-12-31 07377735 frs-core:Non-currentFinancialInstruments 2024-12-31 07377735 frs-core:ComputerEquipment 2024-12-31 07377735 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07377735 frs-core:ComputerEquipment 2023-12-31 07377735 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 07377735 frs-core:FurnitureFittings 2024-12-31 07377735 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07377735 frs-core:FurnitureFittings 2023-12-31 07377735 frs-core:OtherResidualIntangibleAssets 2024-12-31 07377735 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 07377735 frs-core:OtherResidualIntangibleAssets 2023-12-31 07377735 frs-core:SharePremium 2024-12-31 07377735 frs-core:ShareCapital 2024-12-31 07377735 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07377735 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07377735 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07377735 frs-bus:SmallEntities 2024-01-01 2024-12-31 07377735 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07377735 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07377735 1 2024-01-01 2024-12-31 07377735 frs-core:CostValuation 2023-12-31 07377735 frs-core:AdditionsToInvestments 2024-12-31 07377735 frs-core:CostValuation 2024-12-31 07377735 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 07377735 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 07377735 frs-bus:Director1 2024-01-01 2024-12-31 07377735 frs-bus:Director2 2024-01-01 2024-12-31 07377735 frs-bus:Director2 2023-12-31 07377735 frs-bus:Director2 2024-12-31 07377735 frs-bus:Director3 2024-01-01 2024-12-31 07377735 frs-core:CurrentFinancialInstruments 5 2024-12-31 07377735 frs-countries:EnglandWales 2024-01-01 2024-12-31 07377735 2022-12-31 07377735 2023-12-31 07377735 2023-01-01 2023-12-31 07377735 frs-core:CurrentFinancialInstruments 2023-12-31 07377735 frs-core:Non-currentFinancialInstruments 2023-12-31 07377735 frs-core:SharePremium 2023-12-31 07377735 frs-core:ShareCapital 2023-12-31 07377735 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07377735 frs-core:CurrentFinancialInstruments 5 2023-12-31
Registered number: 07377735
Gruvi Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Ellyss Limited
Chartered Certified Accountants
Suites 1 & 2 Webb House
20 Bridge Road
Park Gate
Hampshire
SO31 7GE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 07377735
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 17,680 33,025
Tangible Assets 5 8,747 8,407
Investments 6 2,694 -
29,121 41,432
CURRENT ASSETS
Debtors 7 503,761 326,025
Cash at bank and in hand 63,434 78,311
567,195 404,336
Creditors: Amounts Falling Due Within One Year 8 (248,708 ) (214,611 )
NET CURRENT ASSETS (LIABILITIES) 318,487 189,725
TOTAL ASSETS LESS CURRENT LIABILITIES 347,608 231,157
Creditors: Amounts Falling Due After More Than One Year 9 (7,889 ) (17,951 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,662 ) (1,597 )
NET ASSETS 338,057 211,609
CAPITAL AND RESERVES
Called up share capital 10 1,196 1,205
Share premium account 146,373 127,786
Profit and Loss Account 190,488 82,618
SHAREHOLDERS' FUNDS 338,057 211,609
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For the year ending 31 December 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 Michael Hyltoft
Director
27/05/2025
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gruvi Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07377735 . The registered office is 91 Firs Drive, Hedge End, Southampton, Hampshire, SO30 4QQ.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are costs of developing software for use with Apps. It is amortised to profit and loss account over its estimated economic life of 5 years.
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 20% Straight Line Method
Computer Equipment 33 % Straight Line Method
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 3 (2023: 1)
3 1
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 109,145
Additions 6,000
Disposals (118 )
As at 31 December 2024 115,027
Amortisation
As at 1 January 2024 76,120
Provided during the period 21,227
As at 31 December 2024 97,347
Net Book Value
As at 31 December 2024 17,680
As at 1 January 2024 33,025
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 2,767 16,691 19,458
Additions 341 4,158 4,499
As at 31 December 2024 3,108 20,849 23,957
Depreciation
As at 1 January 2024 616 10,435 11,051
Provided during the period 596 3,563 4,159
As at 31 December 2024 1,212 13,998 15,210
Net Book Value
As at 31 December 2024 1,896 6,851 8,747
As at 1 January 2024 2,151 6,256 8,407
6. Investments
Subsidiaries
£
Cost
As at 1 January 2024 -
Additions 2,694
As at 31 December 2024 2,694
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 2,694
As at 1 January 2024 -
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 201,694 217,439
Prepayments and accrued income 17,498 18,639
Corporation tax recoverable assets 1,484 4,049
Directors' loan accounts 7,601 10,797
Amounts owed by The Gruvi PTY Ltd 65,080 51,795
Amounts owed by Gruvi Media UG 171,670 23,306
Amounts owed by Gruvi Portugal 23,779 -
Amounts owed by The Audience Project (Denmark) 12,390 -
501,196 326,025
Due after more than one year
S455 tax recoverable assets 2,565 -
503,761 326,025
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 56,595 75,042
Bank loans and overdrafts 10,000 10,000
Corporation tax - 695
Other taxes and social security 10,223 -
VAT 34,171 395
Payroll creditors 14,823 16,084
Accruals and deferred income 92,896 52,395
Directors' loan accounts 30,000 60,000
248,708 214,611
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,166 14,166
Amounts owed to Gruvi Media > 1 yr 3,723 3,785
7,889 17,951
Gruvi Ltd received a Bounceback loan of £50,000 on 27 May 2020 repayable over 6 years. 
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,196 1,205
Share Capital at the beginning of the year     £1,205
Shares issues during the year                        £   130
Shares revalued during the period                 (£  139)
Share Cpaital at the end of the year               £1,196
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Benjamin Johnson 10,798 3,085 6,282 - 7,601
The above loan is unsecured and repayable on demand.
12. Related Party Transactions
Gruvi Media Inc (USA)
An amount of £3,785 (2023 - £3,785) was owed to Gruvi Media Inc at the balance sheet date, which has been included in creditors due over one year. 
Gruvi Media UG (Germany)
Gruvi Media UG (Germany) is under the control of Gruvi Limited by virtue of its shareholding. During the period, Gruvi Media UG paid subscriptions of £3,235 (2023 - £7,198), and  reimbursement of costs of £285,182  (2023 - Nil) both of these amounts are shown in Other income.
There was an amount owed to Gruvi Ltd from Gruvi Media UG (Germany) of £171,670 at the balance sheet date (2023 - £23,306), which has been included in Debtors due in one year. 
The Audience Project (Denmark)
The Audience Project (Denmark) is under the control of Gruvi Limited by virtue of its dominant interest and influence. During the period, The Audience Project paid subscriptions of £2,236 (2023 - £34,064), and reimbursement of costs of £73,773, both of these amounts are shown in Other income.
There was an amount owed to Gruvi Ltd from The Audience Project of £12,390 (2023-Nil) at the balance sheet date, which has been included in Debtors due in one year.
Gruvi PTY (Australia) Ltd
The Gruvi PTY Ltd is under the control of Gruvi Limited by virtue of its shareholding. During the period, Gruvi PTY Ltd has paid a subscription of £3,979 (2023- £95,952) and reimbursement of costs of £200,533, both of these amounts are shown in Other income.
There was an amount owed to Gruvi Ltd from Gruvi PTY Ltd of £65,080 (2023 - £51,795) at the balance sheet date, which has been included in Debtors due in one year.
Gruvi Portugal
...CONTINUED
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12. Related Party Transactions - continued
Gruvi Protugal is under the control of Gruvi limited by virtue of its shareholding. There was an amount owed to Gruvi Ltd from Gruvi Portugal of £23,780 (2023 - Nil) at the balance sheet date, which has been included in Debtors due in one year. 
Amounts shown and detailed as Other income consist of reimbursed charges applied from Gruvi Ltd to its group member companies, these charges are arms length transactions based on the Transfer Pricing Agreement in place.
13. Ultimate Controlling Party
The company's ultimate controlling party is Ben Johnson by virtue of his ownership of 48% of the overall issued share capital in the company.
14. Additional notes
Administrative expenses increases
The major reason of the increase in administrative expenses is because historically the reimbursement of costs from other subsidaries have been offset against the actual expenses whereas this year these reimbursements have been categorised seperately in other income. Software costs have historically been shown in cost of sales whereas they have been reclassified to administrative expenses this year.There has also been restructuring changes to the operations in the UK which has given rise to these costs and expenses.
Cash and bank
At the year end date the balances have decreased when compared to the prior year, however this is due to unrealised funds in debtors and amounts owed from subsidiaries, which you will see have significantly increased compare to the prior year. 
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