Acorah Software Products - Accounts Production 16.1.200 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 10544126 Dr Richard John Parmee Prof Marina Cole Prof Andrew John Flewitt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10544126 2022-12-31 10544126 2023-12-31 10544126 2023-01-01 2023-12-31 10544126 frs-core:CurrentFinancialInstruments 2023-12-31 10544126 frs-core:ComputerEquipment 2023-12-31 10544126 frs-core:ComputerEquipment 2023-01-01 2023-12-31 10544126 frs-core:ComputerEquipment 2022-12-31 10544126 frs-core:PlantMachinery 2023-12-31 10544126 frs-core:PlantMachinery 2023-01-01 2023-12-31 10544126 frs-core:PlantMachinery 2022-12-31 10544126 frs-core:SharePremium 2023-12-31 10544126 frs-core:ShareCapital 2023-12-31 10544126 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10544126 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10544126 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 10544126 frs-bus:SmallEntities 2023-01-01 2023-12-31 10544126 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10544126 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10544126 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10544126 frs-bus:OrdinaryShareClass1 2023-12-31 10544126 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 10544126 frs-bus:Director1 2023-01-01 2023-12-31 10544126 frs-bus:Director2 2023-01-01 2023-12-31 10544126 frs-bus:Director3 2023-01-01 2023-12-31 10544126 frs-countries:EnglandWales 2023-01-01 2023-12-31 10544126 2021-12-31 10544126 2022-12-31 10544126 2022-01-01 2022-12-31 10544126 frs-core:CurrentFinancialInstruments 2022-12-31 10544126 frs-core:SharePremium 2022-12-31 10544126 frs-core:ShareCapital 2022-12-31 10544126 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 10544126 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 10544126 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31
Registered number: 10544126
Sorex Sensors Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10544126
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,629 24,087
38,629 24,087
CURRENT ASSETS
Debtors 5 121,750 108,590
Cash at bank and in hand 131,307 56,839
253,057 165,429
Creditors: Amounts Falling Due Within One Year 6 (83,443 ) (25,805 )
NET CURRENT ASSETS (LIABILITIES) 169,614 139,624
TOTAL ASSETS LESS CURRENT LIABILITIES 208,243 163,711
NET ASSETS 208,243 163,711
CAPITAL AND RESERVES
Called up share capital 7 2,907 2,907
Share premium account 2,141,756 2,141,756
Fair Value Reserve 232,671 233,662
Profit and Loss Account (2,169,091 ) (2,214,614 )
SHAREHOLDERS' FUNDS 208,243 163,711
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For the year ending 31 December 2023 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 Richard John Parmee
Director
24 December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Sorex Sensors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10544126 . The registered office is New Cambridge House Bassingbourn Road, Litlington, Royston, SG8 0SS.
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. 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.
2.3. 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:
Plant & Machinery 25% on reducing balance
Computer Equipment Straight line over 3 years
2.4. 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.
2.5. 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.
2.6. 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 profit / loss before taxation.
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.
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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. 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 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 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. 
2.10. 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. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 3)
2 3
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 40,965 6,708 47,673
Additions 24,142 - 24,142
As at 31 December 2023 65,107 6,708 71,815
Depreciation
As at 1 January 2023 17,275 6,311 23,586
Provided during the period 9,240 360 9,600
As at 31 December 2023 26,515 6,671 33,186
Net Book Value
As at 31 December 2023 38,592 37 38,629
As at 1 January 2023 23,690 397 24,087
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,619 -
Prepayments and accrued income 15,892 1,493
Corporation tax recoverable 97,460 105,511
VAT 779 1,586
121,750 108,590
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,810 7,659
Other taxes and social security 2,893 2,615
Other creditors 496 496
Accruals and deferred income 23,244 15,035
Directors' loan accounts 54,000 -
83,443 25,805
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
2,906,817 Ordinary Shares of £ 0.001 each 2,907 2,907
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