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 08356164 J R Carruthers A J Weisz iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08356164 2023-12-31 08356164 2024-12-31 08356164 2024-01-01 2024-12-31 08356164 frs-core:CurrentFinancialInstruments 2024-12-31 08356164 frs-core:Non-currentFinancialInstruments 2024-12-31 08356164 frs-core:ComputerEquipment 2024-12-31 08356164 frs-core:ComputerEquipment 2024-01-01 2024-12-31 08356164 frs-core:ComputerEquipment 2023-12-31 08356164 frs-core:OtherReservesSubtotal 2024-12-31 08356164 frs-core:ShareCapital 2024-12-31 08356164 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08356164 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08356164 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08356164 frs-bus:SmallEntities 2024-01-01 2024-12-31 08356164 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08356164 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08356164 frs-bus:Director1 2024-01-01 2024-12-31 08356164 frs-bus:Director2 2024-01-01 2024-12-31 08356164 frs-countries:EnglandWales 2024-01-01 2024-12-31 08356164 2022-12-31 08356164 2023-12-31 08356164 2023-01-01 2023-12-31 08356164 frs-core:CurrentFinancialInstruments 2023-12-31 08356164 frs-core:Non-currentFinancialInstruments 2023-12-31 08356164 frs-core:OtherReservesSubtotal 2023-12-31 08356164 frs-core:ShareCapital 2023-12-31 08356164 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 08356164
HandsHQ Limited
Financial Statements
For The Year Ended 31 December 2024
Finling Associates Ltd
2 Printer's Yard
90a The Broadway
London
SW19 1RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08356164
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,183 17,485
16,183 17,485
CURRENT ASSETS
Debtors 5 459,768 387,625
Cash at bank and in hand 663,653 665,859
1,123,421 1,053,484
Creditors: Amounts Falling Due Within One Year 6 (1,404,033 ) (1,151,978 )
NET CURRENT ASSETS (LIABILITIES) (280,612 ) (98,494 )
TOTAL ASSETS LESS CURRENT LIABILITIES (264,429 ) (81,009 )
Creditors: Amounts Falling Due After More Than One Year 7 (8,775 ) (19,065 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,075 ) (3,323 )
NET LIABILITIES (276,279 ) (103,397 )
CAPITAL AND RESERVES
Called up share capital 8 180 180
Other reserves 1,113,417 1,030,748
Profit and Loss Account (1,389,876 ) (1,134,325 )
SHAREHOLDERS' FUNDS (276,279) (103,397)
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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
J R Carruthers
Director
28 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
HandsHQ Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08356164 . The registered office is 2 Printer's Yard, 90a The Broadway, London, SW19 1RD.
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 provision of software and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Software provision
Software is provided to customers on a software-as-a-service basis. Turnover is accordingly recognised rateably across the period of the software subscription.
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 3 years straight line
2.4. 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.
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 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.
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2.6. Share-Based Payments
The company operates an employee share scheme under which it makes equity-settled share-based payments to certain employees. Where employees are rewarded using share-based payments, the fair values of employees' services are determined indirectly by reference to the fair value of the instrument granted to the employee. This fair value is assessed at the grant date, using the Black-Scholes method, and excludes the impact of non-market vesting conditions.
The expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Estimates are  subsequently revised if there is any indication that the number of share options expected to vest differs from previous estimates.
Management uses valuation techniques to determine the fair value of financial instruments when active market quotes are not available, based as far as possible on observable data.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 19)
22 19
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 65,271
Additions 9,835
As at 31 December 2024 75,106
Depreciation
As at 1 January 2024 47,786
Provided during the period 11,137
As at 31 December 2024 58,923
Net Book Value
As at 31 December 2024 16,183
As at 1 January 2024 17,485
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 330,939 271,285
Prepayments and accrued income 42,444 33,926
Other debtors 86,385 82,414
459,768 387,625
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,881 14,363
Bank loans and overdrafts 78,583 61,166
Other taxes and social security 134,759 118,910
Other creditors 14,585 20,306
Accruals and deferred income 1,148,225 937,233
1,404,033 1,151,978
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,775 19,065
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 180 180
9. Other reserves
Other reserves consists of other distributable reserves of £939,847 (2023: £939,847) and a share based payments reserve of £181,104 (2023: £90,901).
10. Share-Based Payments
Some of the employees of the company have been granted options over shares in HandsHQ Limited. The options are granted with a fixed exercise price, vest over three years, are exercisable only upon a sale of the business, and expire 10 years after the date of grant. Employees are required to remain in employment with the company. The company makes grants approximately every year.
                                                                                                      2023:                                            2024:
                                                                       No.                Weighted average              No.           Weighted average
                                                                                              exercise price £                                  exercise price £
Outstanding at the beginning of the period        174,585                        0.0001                  189,702               0.0001
Outstanding at the end of the period                 189,702                        0.0001                  193,691               0.0001
Exercisable at the end of the period                            0                                                              0
The total share-based payment expenses in the year are £90,203 (2023: £42,606)
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