Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07559981 Parkwalk Advisors Ltd Professor Ian Hugh White Dr Sabesan Sithamparanathan Mr Mike James Mahan Mrs Barbara Albizuri Mr Adrian Martin Watson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07559981 2023-03-31 07559981 2024-03-31 07559981 2023-04-01 2024-03-31 07559981 frs-core:CurrentFinancialInstruments 2024-03-31 07559981 frs-core:ComputerEquipment 2024-03-31 07559981 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07559981 frs-core:ComputerEquipment 2023-03-31 07559981 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 07559981 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 07559981 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 07559981 frs-core:FurnitureFittings 2024-03-31 07559981 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07559981 frs-core:FurnitureFittings 2023-03-31 07559981 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 07559981 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07559981 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 07559981 frs-core:OtherResidualIntangibleAssets 2024-03-31 07559981 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 07559981 frs-core:OtherResidualIntangibleAssets 2023-03-31 07559981 frs-core:PlantMachinery 2024-03-31 07559981 frs-core:PlantMachinery 2023-04-01 2024-03-31 07559981 frs-core:PlantMachinery 2023-03-31 07559981 frs-core:WithinOneYear 2024-03-31 07559981 frs-core:OtherReservesSubtotal 2024-03-31 07559981 frs-core:SharePremium 2024-03-31 07559981 frs-core:ShareCapital 2024-03-31 07559981 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07559981 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07559981 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07559981 frs-bus:SmallEntities 2023-04-01 2024-03-31 07559981 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07559981 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07559981 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07559981 frs-bus:OrdinaryShareClass1 2024-03-31 07559981 frs-bus:OrdinaryShareClass2 2023-04-01 2024-03-31 07559981 frs-bus:OrdinaryShareClass2 2024-03-31 07559981 frs-bus:Director1 2023-04-01 2024-03-31 07559981 frs-bus:Director2 2023-04-01 2024-03-31 07559981 frs-bus:Director3 2023-04-01 2024-03-31 07559981 frs-bus:Director4 2023-04-01 2024-03-31 07559981 frs-bus:Director5 2023-04-01 2024-03-31 07559981 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07559981 frs-countries:EnglandWales 2023-04-01 2024-03-31 07559981 2022-03-31 07559981 2023-03-31 07559981 2022-04-01 2023-03-31 07559981 frs-core:CurrentFinancialInstruments 2023-03-31 07559981 frs-core:WithinOneYear 2023-03-31 07559981 frs-core:OtherReservesSubtotal 2023-03-31 07559981 frs-core:SharePremium 2023-03-31 07559981 frs-core:ShareCapital 2023-03-31 07559981 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07559981 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07559981 frs-bus:OrdinaryShareClass2 2022-04-01 2023-03-31
Registered number: 07559981
PervasID Limited
Unaudited Financial Statements
For The Year Ended 31 March 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: 07559981
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,402,010 1,762,891
Tangible Assets 5 27,323 27,241
2,429,333 1,790,132
CURRENT ASSETS
Stocks 6 582,654 236,235
Debtors 7 932,710 737,306
Cash at bank and in hand 568,133 2,654,300
2,083,497 3,627,841
Creditors: Amounts Falling Due Within One Year 8 (650,458 ) (345,064 )
NET CURRENT ASSETS (LIABILITIES) 1,433,039 3,282,777
TOTAL ASSETS LESS CURRENT LIABILITIES 3,862,372 5,072,909
NET ASSETS 3,862,372 5,072,909
CAPITAL AND RESERVES
Called up share capital 9 1,655 1,655
Share premium account 8,806,550 8,806,550
Other reserves 890,864 340,323
Profit and Loss Account (5,836,697 ) (4,075,619 )
SHAREHOLDERS' FUNDS 3,862,372 5,072,909
Page 1
Page 2
For the year ending 31 March 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
Dr Sabesan Sithamparanathan
Director
25 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
PervasID Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07559981 . The registered office is St John's Innovation Centre, Cowley Road, Cambridge, Cambridgeshire, CB4 0WS.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Patents and trademarks and Product Development. They are amortised to profit and loss account over their estimated economic life of 10% on cost.
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:
Leasehold 20% on cost
Plant & Machinery 20% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.6. 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.
2.7. 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.
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2.8. 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.
2.9. 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 profit / loss before taxation.
2.10. 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.
2.11. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.12. 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.
2.13. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. 
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised. 
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2.14. Research and Development
Expenditure on research activities is recognised within profit or loss as an expense is incurred.
Development costs are capitalised only where they can be identified with a specific product or project that will generate probable future economic benefits, the costs can be reliably measured and all the criteria under FRS 102 are met. They are amortised on a straight line basis to profit or loss over their estimated useful life. All other development costs are expensed as incurred.
Capitalised development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance is written off to profit or loss.
Capitalised development costs are not treated as a realised loss for the purpose of determining the company's distributable profits as the costs meet the conditions permitting them to be treated as an asset under FRS 102.
All intangible assets are considered to have a finite useful life.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 April 2023 30,471 2,032,792 2,063,263
Additions - 845,445 845,445
As at 31 March 2024 30,471 2,878,237 2,908,708
Amortisation
As at 1 April 2023 10,185 290,187 300,372
Provided during the period 3,047 203,279 206,326
As at 31 March 2024 13,232 493,466 506,698
Net Book Value
As at 31 March 2024 17,239 2,384,771 2,402,010
As at 1 April 2023 20,286 1,742,605 1,762,891
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 9,626 28,593 10,803 59,217 108,239
Additions - 8,178 916 4,152 13,246
As at 31 March 2024 9,626 36,771 11,719 63,369 121,485
Depreciation
As at 1 April 2023 9,626 12,243 7,123 52,006 80,998
Provided during the period - 6,693 1,653 4,818 13,164
As at 31 March 2024 9,626 18,936 8,776 56,824 94,162
...CONTINUED
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Net Book Value
As at 31 March 2024 - 17,835 2,943 6,545 27,323
As at 1 April 2023 - 16,350 3,680 7,211 27,241
6. Stocks
2024 2023
£ £
Stock 582,654 236,235
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 491,526 472,593
Prepayments and accrued income 9,452 15,504
Other debtors 10,060 8,059
Corporation tax recoverable 380,885 226,411
VAT 40,787 14,739
932,710 737,306
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 466,363 255,641
Other taxes and social security 30,640 22,592
Other creditors 12,343 13,261
Accruals and deferred income 141,112 53,570
650,458 345,064
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
109,419 Ordinary Shares of £ 0.01 each 1,094 1,094
56,063 Preference shares of £ 0.01 each 561 561
1,655 1,655
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 35,850 -
35,850 -
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