Acorah Software Products - Accounts Production 16.0.110 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10271534 H I Darkly D W Greenfield E B Ibrahim S Nadathur J R White C H Sparrow iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10271534 2023-07-31 10271534 2024-07-31 10271534 2023-08-01 2024-07-31 10271534 frs-core:CurrentFinancialInstruments 2024-07-31 10271534 frs-core:Non-currentFinancialInstruments 2024-07-31 10271534 frs-core:BetweenOneFiveYears 2024-07-31 10271534 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 10271534 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 10271534 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 10271534 frs-core:MotorVehicles 2024-07-31 10271534 frs-core:MotorVehicles 2023-08-01 2024-07-31 10271534 frs-core:MotorVehicles 2023-07-31 10271534 frs-core:PlantMachinery 2024-07-31 10271534 frs-core:PlantMachinery 2023-08-01 2024-07-31 10271534 frs-core:PlantMachinery 2023-07-31 10271534 frs-core:WithinOneYear 2024-07-31 10271534 frs-core:SharePremium 2024-07-31 10271534 frs-core:ShareCapital 2024-07-31 10271534 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10271534 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10271534 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10271534 frs-bus:SmallEntities 2023-08-01 2024-07-31 10271534 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10271534 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10271534 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-07-31 10271534 frs-bus:Director1 2023-08-01 2024-07-31 10271534 frs-bus:Director2 2023-08-01 2024-07-31 10271534 frs-bus:Director3 2023-08-01 2024-07-31 10271534 frs-bus:Director4 2023-08-01 2024-07-31 10271534 frs-bus:Director5 2023-08-01 2024-07-31 10271534 frs-bus:Director6 2023-08-01 2024-07-31 10271534 frs-countries:EnglandWales 2023-08-01 2024-07-31 10271534 2022-07-31 10271534 2023-07-31 10271534 2022-08-01 2023-07-31 10271534 frs-core:CurrentFinancialInstruments 2023-07-31 10271534 frs-core:Non-currentFinancialInstruments 2023-07-31 10271534 frs-core:BetweenOneFiveYears 2023-07-31 10271534 frs-core:WithinOneYear 2023-07-31 10271534 frs-core:SharePremium 2023-07-31 10271534 frs-core:ShareCapital 2023-07-31 10271534 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 10271534 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31
Registered number: 10271534
Biohm Ltd
Financial Statements
For The Year Ended 31 July 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—6
Page 1
Balance Sheet
Registered number: 10271534
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 661,321 356,231
661,321 356,231
CURRENT ASSETS
Debtors 5 360,100 353,552
Cash at bank and in hand 1,659,744 860,535
2,019,844 1,214,087
Creditors: Amounts Falling Due Within One Year 6 (2,060,926 ) (3,017,823 )
NET CURRENT ASSETS (LIABILITIES) (41,082 ) (1,803,736 )
TOTAL ASSETS LESS CURRENT LIABILITIES 620,239 (1,447,505 )
Creditors: Amounts Falling Due After More Than One Year 7 (7,852 ) (17,156 )
NET ASSETS/(LIABILITIES) 612,387 (1,464,661 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Share premium account 5,849,909 1,777,768
Fair value reserve - 2,387
Profit and Loss Account (5,237,523 ) (3,244,817 )
SHAREHOLDERS' FUNDS 612,387 (1,464,661)
Page 1
Page 2
For the year ending 31 July 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
H I Darkly
Director
28 November 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
Biohm Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10271534 . The registered office is 5a Juno Way, London, SE14 5RW.
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 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.
2.3. Research and Development
Research expenditure is written off against profits in the year in which it is incurred.
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:
Leasehold Straight line over the term of the lease
Plant & Machinery Straight line over 15, 8 or 3 years
Motor Vehicles 25% reducing balance
2.5. Financial Instruments
In accordance with FRS102 s11 and 12, basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
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.
Page 3
Page 4
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 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 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. Compound Financial Instruments
Compound financial instruments issued by the group comprise convertible loan notes that can be converted to share capital at the option of the holder, and the number of shares to be issued does not vary with changes in their fair value. The liability component of a compound financial instruments is initially recognised at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognised at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortised cost using the effective interest method. The equity component of a compound financial instrument is not re-measured subsequent to initial recognition except on conversion or expiry.
2.9. 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: 23 (2023: 21)
23 21
Page 4
Page 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 August 2023 106,279 355,418 12,779 474,476
Additions 146,236 299,323 - 445,559
As at 31 July 2024 252,515 654,741 12,779 920,035
Depreciation
As at 1 August 2023 37,578 75,076 5,591 118,245
Provided during the period 65,774 72,898 1,797 140,469
As at 31 July 2024 103,352 147,974 7,388 258,714
Net Book Value
As at 31 July 2024 149,163 506,767 5,391 661,321
As at 1 August 2023 68,701 280,342 7,188 356,231
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,597
Prepayments and accrued income 50,049 42,541
Other debtors 310,051 309,414
360,100 353,552
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 88,629 174,936
Bank loans and overdrafts 9,260 9,032
Other taxes and social security 26,409 19,389
Other creditors 1,907,265 2,765,866
Accruals and deferred income 29,363 48,600
2,060,926 3,017,823
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,852 17,156
Page 5
Page 6
8. Share Capital
Allotted, called up and fully paid 
                                                                                    2024                             2023
                                                                                      £                                  £
1,204,341 Ordinary Shares of £0.000001 each                     1                                   1  
245,360 Preference Shares of £0.000001 each                     0                                   0  
Shares issued during the period
245,360 Preference Shares of £0.000001 each
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 94,127 71,086
Later than one year and not later than five years 24,896 89,912
119,023 160,998
10. Related Party Transactions
Included in Other Creditors are loans to the company from shareholder directors and their associated companies totalling £1,904,009 (2023: £1,865,788), including accrued interest of £155,951 (2023: £77,232).
Included in Other Creditors is a convertible loan to the company from shareholder directors and their associated companies totalling Nil (2023: £900,000).
11. Share-Based payments
An Enterprise Management Incentive scheme is in place under which employees are granted options over the shares of Biohm Ltd.  The options are granted with a fixed exercise price, vest over four years and expire ten years after the date of the grant. Employees are required to remain in employment with the company, except where exemptions are approved by the board. The company granted options once in May 2021.
                                                                       2023:                                                          2024:
                                                                       No.                Weighted average                 No.           Weighted average
                                                                                              exercise price £                                      exercise price £
Outstanding at the beginning of the period        50,000                      0.000001                      38,000             0.000001
Outstanding at the end of the period                 38,000                      0.000001                      18,000             0.000001
Exercisable at the end of the period                          0                                                                  0
The total share-based payment expenses in the year are Nil (2023: Nil)
12. Going concern
At the balance sheet date net assets were £612,387 (2023: net liabilities £1,464,661).
The directors have confirmed that amounts due to them will not be repaid until the company is in a financial position to do so.
Based on cash flow projections the directors have a reasonable expectation that the company has adequate financial resources to continue in operational existence for the foreseeable future and consequently the financial statements have been prepared on the going concern basis.
Page 6