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Registered number: 07499137
Huvo Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07499137
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 66,884 -
Tangible Assets 5 22,982 88,183
89,866 88,183
CURRENT ASSETS
Stocks 6 599,915 530,122
Debtors 7 992,838 667,622
Cash at bank and in hand 73,100 108,230
1,665,853 1,305,974
Creditors: Amounts Falling Due Within One Year 8 (1,687,827 ) (1,267,036 )
NET CURRENT ASSETS (LIABILITIES) (21,974 ) 38,938
TOTAL ASSETS LESS CURRENT LIABILITIES 67,892 127,121
Creditors: Amounts Falling Due After More Than One Year 9 (52,054 ) (113,775 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,367 ) (3,493 )
NET ASSETS 11,471 9,853
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 11,469 9,851
SHAREHOLDERS' FUNDS 11,471 9,853
Page 1
Page 2
For the year ending 31 October 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 T J El-Hoss
Director
30 July 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Huvo Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07499137 . The registered office is 14 Gilsea Park Mona Close, Swansea Enterprise Park, Swansea, SA6 8RJ.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 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.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. 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:
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Straight Line
Computer Equipment 15% Straight Line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under 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 the profit and loss account as incurred.
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2.7. 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.
2.8. 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.
2.9. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. 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: 16 (2024: 15)
16 15
4. Intangible Assets
Development Costs
£
Cost
As at 1 November 2024 -
Additions 15,207
Transfers 62,146
As at 31 October 2025 77,353
...CONTINUED
Page 4
Page 5
Amortisation
As at 1 November 2024 -
Provided during the period 10,469
As at 31 October 2025 10,469
Net Book Value
As at 31 October 2025 66,884
As at 1 November 2024 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2024 28,750 103,319 - 132,069
Additions - 1,001 5,925 6,926
Disposals (6,500 ) - - (6,500 )
Transfers - (62,146 ) - (62,146 )
As at 31 October 2025 22,250 42,174 5,925 70,349
Depreciation
As at 1 November 2024 17,625 26,261 - 43,886
Provided during the period 5,563 4,330 88 9,981
Disposals (6,500 ) - - (6,500 )
As at 31 October 2025 16,688 30,591 88 47,367
Net Book Value
As at 31 October 2025 5,562 11,583 5,837 22,982
As at 1 November 2024 11,125 77,058 - 88,183
6. Stocks
2025 2024
£ £
Stock 599,915 530,122
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 588,410 462,900
Prepayments and accrued income 10,395 4,085
Other debtors 98,180 -
VAT 4,950 -
Directors' loan accounts 290,903 200,637
992,838 667,622
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1,396,932 974,669
Bank loans and overdrafts 119,114 51,077
Corporation tax 157,115 145,396
Other taxes and social security 11,916 9,873
VAT - 26,059
Credit cards - 58,112
Accruals and deferred income 2,750 1,850
1,687,827 1,267,036
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 52,054 113,775
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 67,388 51,138
Later than one year and not later than five years 72,176 42,064
139,564 93,202
12. Pension Commitments
The company operates a defined contribution pension scheme for their employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £0 (2024: £0 ) were due to the fund.
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2024 Amounts advanced Amounts repaid Amounts written off As at 31 October 2025
£ £ £ £ £
Mr Tariq El-Hoss 100,318 112,206 (80,451 ) - 132,073
Mr Nadim El-Hoss 100,318 128,824 (70,312) - 158,830
The above loan is unsecured, interest free and repayable on demand.
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