Acorah Software Products - Accounts Production 15.0.600 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 13550753 Dr Philipp Johannes Tallafuss Mr Timothy Denzil Pryce Dr Joita Dey Dr George Richard Stephenson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13550753 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2024-08-31 13550753 2023-08-31 13550753 2024-08-31 13550753 2023-09-01 2024-08-31 13550753 frs-core:CurrentFinancialInstruments 2024-08-31 13550753 frs-core:Non-currentFinancialInstruments 2024-08-31 13550753 frs-core:ComputerEquipment 2024-08-31 13550753 frs-core:ComputerEquipment 2023-09-01 2024-08-31 13550753 frs-core:ComputerEquipment 2023-08-31 13550753 frs-core:OtherReservesSubtotal 2024-08-31 13550753 frs-core:SharePremium 2024-08-31 13550753 frs-core:ShareCapital 2024-08-31 13550753 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 13550753 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13550753 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 13550753 frs-bus:SmallEntities 2023-09-01 2024-08-31 13550753 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 13550753 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13550753 frs-bus:OrdinaryShareClass1 2023-09-01 2024-08-31 13550753 frs-bus:OrdinaryShareClass1 2024-08-31 13550753 frs-bus:OrdinaryShareClass2 2023-09-01 2024-08-31 13550753 frs-bus:OrdinaryShareClass2 2024-08-31 13550753 frs-bus:Director1 2023-09-01 2024-08-31 13550753 frs-bus:Director2 2023-09-01 2024-08-31 13550753 frs-bus:Director3 2023-09-01 2024-08-31 13550753 frs-bus:Director4 2023-09-01 2024-08-31 13550753 frs-countries:EnglandWales 2023-09-01 2024-08-31 13550753 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-08-31 13550753 2022-08-31 13550753 2023-08-31 13550753 2022-09-01 2023-08-31 13550753 frs-core:CurrentFinancialInstruments 2023-08-31 13550753 frs-core:Non-currentFinancialInstruments 2023-08-31 13550753 frs-core:OtherReservesSubtotal 2023-08-31 13550753 frs-core:SharePremium 2023-08-31 13550753 frs-core:ShareCapital 2023-08-31 13550753 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 13550753 frs-bus:OrdinaryShareClass1 2022-09-01 2023-08-31 13550753 frs-bus:OrdinaryShareClass2 2022-09-01 2023-08-31
Registered number: 13550753
Cellexcel Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13550753
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 331 558
331 558
CURRENT ASSETS
Debtors 5 60,012 58,716
Cash at bank and in hand 89,413 37,245
149,425 95,961
Creditors: Amounts Falling Due Within One Year 6 (31,635 ) (12,736 )
NET CURRENT ASSETS (LIABILITIES) 117,790 83,225
TOTAL ASSETS LESS CURRENT LIABILITIES 118,121 83,783
Creditors: Amounts Falling Due After More Than One Year 7 (66,514 ) (251,748 )
NET ASSETS/(LIABILITIES) 51,607 (167,965 )
CAPITAL AND RESERVES
Called up share capital 9 19 14
Share premium account 403,553 -
Other reserves 42,446 -
Profit and Loss Account (394,411 ) (167,979 )
SHAREHOLDERS' FUNDS 51,607 (167,965)
Page 1
Page 2
For the year ending 31 August 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 Timothy Denzil Pryce
Director
14 October 2024
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
Cellexcel Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13550753 . The registered office is The Enterprise Centre University Of East Anglia, Norwich Research Park, Norwich, Norfolk, NR4 7TJ.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future. 
The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.
2.3. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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:
Computer Equipment 3 years Straight line
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
Page 3
Page 4
2.7. Taxation
Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
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.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. 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 shall be 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 cirteria 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 on a straight line basis over their useful economic lives.
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.
2.11. Convertible Debt
Compound financial instruments issued by the Company comprise convertible loan notes that can be converted to share capital at the option of the holder. The interest on the loan notes is compounding annually and as such the number of shares to be issued will vary with changes in the fair value.
Due to the varying number of shares to be issued the loan notes are treated as liabilities and not split between equity and liabilities. The liability is initially and subsequently measured at fair value, with the fair value movements recognised in the Profit & Loss account.
Transaction costs that relate to the issue of the instrument are expensed to the Profit & Loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 682
As at 31 August 2024 682
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 September 2023 124
Provided during the period 227
As at 31 August 2024 351
Net Book Value
As at 31 August 2024 331
As at 1 September 2023 558
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,500 7,000
Prepayments and accrued income 23,995 7,481
Other debtors 6,098 10
Corporation tax recoverable assets 22,714 41,307
VAT 5,705 2,917
Other taxes and social security - 1
60,012 58,716
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,475 8,106
Other taxes and social security 1,001 -
Other creditors 4,509 3,130
Accruals and deferred income 10,650 1,500
31,635 12,736
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Convertible debt 66,514 251,748
8. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due between one and five years:
Debentures 66,514 251,748
Page 5
Page 6
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
15,637 Ordinary Shares of £ 0.001 each 16 14
2,500 Deferred shares of £ 0.001 each 3 -
19 14
Shares issued during the period: £
4,217 Ordinary Shares of £ 0.001 each 5
2,500 Deferred shares of £ 0.001 each 3
8
On 21st September 2023, 250 Ordinary shares of £0.01 each were reclassified to 250 Deferred shares of £0.01 each.
On 22nd December 2023, 236 Ordinary shares of £0.01 each were allotted and fully paid at a price of £862.07 each. On the same day 185 Ordinary shares of £0.01 each were allotted and fully paid at a price of £1,077.59 each.
On 1st May 2024 all shares were sub-divided from a nominal value of £0.01 each to a nominal value of £0.001 each.
On 1st May 2024, 7 Ordinary shares of £0.001 each were allotted and fully paid at a price of £107.76 each.
Page 6