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Registered number: 06519793
Hex Digital Ltd
Financial Statements
For The Year Ended 31 August 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06519793
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 12,235 27,817
12,235 27,817
CURRENT ASSETS
Debtors 6 288,879 527,727
Cash at bank and in hand 72,528 37,475
361,407 565,202
Creditors: Amounts Falling Due Within One Year 7 (514,322 ) (404,006 )
NET CURRENT ASSETS (LIABILITIES) (152,915 ) 161,196
TOTAL ASSETS LESS CURRENT LIABILITIES (140,680 ) 189,013
Creditors: Amounts Falling Due After More Than One Year 8 (35,381 ) (164,218 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,476 ) (4,683 )
NET (LIABILITIES)/ASSETS (178,537 ) 20,112
CAPITAL AND RESERVES
Called up share capital 9 1,050 1,050
Share premium account 17,700 17,700
Capital redemption reserve 650 650
Profit and Loss Account (197,937 ) 712
SHAREHOLDERS' FUNDS (178,537) 20,112
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For the year ending 31 August 2025 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 Matthew Rogers
Director
15/05/2026
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hex Digital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06519793 . The registered office is Ludgate House, 107-111 Fleet Street, London, EC4A 2AB.
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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis on the understanding that the current liabilities owed by the company will not be recalled at the detriment of the company. The balance sheet shows net liabilities of £178,537 on 31 August 2025 (2024: net asset of £20,112) and the directors are confident that with the ongoing support of the creditors, the company will have sufficient funds to continue to trade for the foreseeable future.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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 or no depreciation
Computer Equipment 33% straight line
Some of the assets within the Fixtures & Fittings category have an indeterminable useful life. Therefore, no depreciation is being applied under FRS 102 Section 17 Property, Plant and Equipment.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2024: 22)
17 22
4. Intangible Assets
Development Costs
£
Cost
As at 1 September 2024 203,343
As at 31 August 2025 203,343
Amortisation
As at 1 September 2024 203,343
As at 31 August 2025 203,343
Net Book Value
As at 31 August 2025 -
As at 1 September 2024 -
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2024 76,874 72,841 149,715
Additions - 1,488 1,488
Disposals (20,848 ) (1,191 ) (22,039 )
As at 31 August 2025 56,026 73,138 129,164
Depreciation
As at 1 September 2024 64,401 57,497 121,898
Provided during the period 3,229 12,105 15,334
Disposals (19,112 ) (1,191 ) (20,303 )
As at 31 August 2025 48,518 68,411 116,929
Net Book Value
As at 31 August 2025 7,508 4,727 12,235
As at 1 September 2024 12,473 15,344 27,817
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 165,808 425,042
Prepayments and accrued income 40,094 20,005
Other debtors 21,041 31,579
Directors' loan accounts 61,936 51,101
288,879 527,727
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 57,506 3,353
Bank loans and overdrafts 186,140 296,774
Other taxes and social security 207,153 72,151
Other creditors 27,518 30,392
Accruals and deferred income 36,005 1,336
514,322 404,006
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 35,381 164,218
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9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,050 1,050
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 748 22,511
Later than one year and not later than five years - 748
748 23,259
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2024 Amounts advanced Amounts repaid Amounts written off As at 31 August 2025
£ £ £ £ £
Mr Stefan Ferguson 17,094 3,793 312 - 20,575
Mr Benjamin Moore 17,254 24,443 19,605 - 22,092
Mr Matthew Rogers 16,753 9,198 6,682 - 19,269
The above loan is unsecured, interest free and repayable on demand.
12. Ultimate Controlling Party
The company is controlled by the three directors, who each hold an equal shareholding.
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