Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11761110 Mr Dominic Raban Mr Daniel Taylor Dr Peter-Marc Fortune iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11761110 2023-12-31 11761110 2024-12-31 11761110 2024-01-01 2024-12-31 11761110 frs-core:CurrentFinancialInstruments 2024-12-31 11761110 frs-core:Non-currentFinancialInstruments 2024-12-31 11761110 frs-core:ComputerEquipment 2024-12-31 11761110 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11761110 frs-core:ComputerEquipment 2023-12-31 11761110 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 11761110 frs-core:OtherResidualIntangibleAssets 2024-12-31 11761110 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 11761110 frs-core:OtherResidualIntangibleAssets 2023-12-31 11761110 frs-core:OtherReservesSubtotal 2024-12-31 11761110 frs-core:SharePremium 2024-12-31 11761110 frs-core:ShareCapital 2024-12-31 11761110 frs-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 11761110 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11761110 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11761110 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11761110 frs-bus:SmallEntities 2024-01-01 2024-12-31 11761110 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11761110 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11761110 frs-bus:Director1 2024-01-01 2024-12-31 11761110 frs-bus:Director2 2024-01-01 2024-12-31 11761110 frs-bus:Director3 2024-01-01 2024-12-31 11761110 frs-core:CurrentFinancialInstruments 9 2024-12-31 11761110 frs-countries:EnglandWales 2024-01-01 2024-12-31 11761110 2022-12-31 11761110 2023-12-31 11761110 2023-01-01 2023-12-31 11761110 frs-core:CurrentFinancialInstruments 2023-12-31 11761110 frs-core:Non-currentFinancialInstruments 2023-12-31 11761110 frs-core:OtherReservesSubtotal 2022-12-31 11761110 frs-core:OtherReservesSubtotal 2023-12-31 11761110 frs-core:SharePremium 2022-12-31 11761110 frs-core:SharePremium 2023-12-31 11761110 frs-core:ShareCapital 2022-12-31 11761110 frs-core:ShareCapital 2023-12-31 11761110 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11761110 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-12-31 11761110 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11761110 frs-core:CurrentFinancialInstruments 9 2023-12-31
Registered number: 11761110
Xploro Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Axis Accounting
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—8
Page 1
Balance Sheet
Registered number: 11761110
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 28,652
Tangible Assets 5 8,944 6,105
8,944 34,757
CURRENT ASSETS
Debtors 6 48,944 82,721
Cash at bank and in hand 10,572 55,196
59,516 137,917
Creditors: Amounts Falling Due Within One Year 7 (130,236 ) (112,036 )
NET CURRENT ASSETS (LIABILITIES) (70,720 ) 25,881
TOTAL ASSETS LESS CURRENT LIABILITIES (61,776 ) 60,638
Creditors: Amounts Falling Due After More Than One Year 8 (50,072 ) (107,746 )
NET LIABILITIES (111,848 ) (47,108 )
CAPITAL AND RESERVES
Share premium account 464,609 464,609
Capital contribution reserve 1,778,157 1,138,934
Profit and Loss Account (2,354,614 ) (1,650,651 )
SHAREHOLDERS' FUNDS (111,848) (47,108)
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For the year ending 31 December 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 Dominic Raban
Director
29/01/2025
The notes on pages 4 to 8 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Share Premium Capital contribution reserve Profit and Loss Account Total
£ £ £ £ £
As at 1 January 2023 - 464,609 - (903,055 ) (438,446)
Loss for the year and total comprehensive income - - - (747,596 ) (747,596)
Capital contribution - - 1,138,934 - 1,138,934
As at 31 December 2023 and 1 January 2024 - 464,609 1,138,934 (1,650,651 ) (47,108)
Loss for the year and total comprehensive income - - - (703,963 ) (703,963)
Capital contribution - - 639,223 - 639,223
As at 31 December 2024 - 464,609 1,778,157 (2,354,614 ) (111,848)
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Notes to the Financial Statements
1. General Information
Xploro Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11761110 . The registered office is 21 Shudehill, Manchester, M4 2AF. As at 27 June 2022 Xploro Limited became a wholly owned subsidiary of Xploro Inc. 
Reporting period
Last year the accounts covered the 11 month period to 31 December 2022. The year end was shortened to be coterminous with its Parent Company Xploro Inc. 
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are for intellectual property. It is amortised to profit and loss account over its estimated economic life of 5 years.

The intellectual property was reviewed in the accounts 31st January 2022 and it was concluded that the economic life would be reduced from 10 years to 5 years. As a result impairment for the change in policy was accounted for in the accounts to 31st January 2022.
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. 
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:
Computer Equipment 33% Reducing balance
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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 profit and loss account as incurred.
2.7. 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.
2.8. 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 year 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 asset reflects 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.
2.9. 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: 15 (2023: 15)
15 15
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 214,890
As at 31 December 2024 214,890
Amortisation
As at 1 January 2024 186,238
Provided during the period 28,652
As at 31 December 2024 214,890
...CONTINUED
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Net Book Value
As at 31 December 2024 -
As at 1 January 2024 28,652
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 13,478
Additions 6,455
As at 31 December 2024 19,933
Depreciation
As at 1 January 2024 7,373
Provided during the period 3,616
As at 31 December 2024 10,989
Net Book Value
As at 31 December 2024 8,944
As at 1 January 2024 6,105
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,000 -
Prepayments and accrued income - 2,820
Corporation tax recoverable assets 39,944 75,356
VAT - 4,545
48,944 82,721
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 22,494 30,864
Bank loans and overdrafts 23,169 23,170
Other taxes and social security 51,016 21,941
VAT 2,229 -
Other creditors . 3,943 4,048
Deferred income 19,254 27,989
Accruals 8,131 4,024
130,236 112,036
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 23,783 46,953
Amounts owed to parent undertaking 26,289 60,793
50,072 107,746
9. Share Capital
On 27 June 2022, there was a reclassification of 10,000 ordinary shares with a nominal value of £0.000001 each which were changed to 10,000 deferred shares with a nominal value of £0.000001 each. 
To the passing of the resolution noted above, the directors of the Company, having made a solvency statement on 27 June 2022 in accordance with Section 643 of the Companies Act 2006, shall reduce the issued capital of the Company from an aggregate nominal value of £0.1258 to an aggregate nominal value of £0.1158 by cancelling and extinguishing 10,000 deferred shares with a nominal value of £0.000001 each in issue and that the amount arising from such cancellation of share capital be carried to the distribitable reserves of the Company. 
As at 31 December 2024, there were 115,800 ordinary shares in issue with a nominal value of £0.000001 each.
Capital contribution reserve
Capital contributions are not recognised under the Companies Act 2006.
Xploro Ltd received a capital contribution from Xploro Inc of £639,223 ($800,000) (2023 £1,138,934, $1,450,000 USD) during the year. 
Further to the above, the Boards of Xploro Inc and Xploro Limited agreed that:
I.Xploro Inc would make a capital contribution of $800,000 to Xploro Limited which is intended to be a contribution to the non-distributable capital of Xploro Limited.
II.The contribution is not intended to be repayable and is not intended to be interest-bearing
III.The contribution is not to be regarded as a contribution to the Profit and Loss Account reserves or any other distributable reserves of Xploro Limited.
IV.The contribution should be accounted for by Xploro Limited as a capital contribution reserve in the bottom half of the balance sheet.
10. Pension Commitments
The company operates a defined contribution pension scheme for 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 £1,672 (2023 £3,605) were due to the fund. The balance is included in other creditors.
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11. Related Party Transactions
Xploro IncParent company.The company charged Xploro Ltd management fees of £123,086 (2023 £217,866). Xploro Ltd charged income for reimbursed costs to Xploro Inc of £245,582 (2023 £162,379) and are included in total turnover. At the balance sheet date the total amount due to Xploro Inc was £26,289 (2023 £60,793). Xploro Inc paid a capital contribution of £639,223 ($800,000) to Xploro Ltd (2023 £1,138,934, $1,450,000). Details are outlined in note 9.

Xploro Inc

Parent company.

The company charged Xploro Ltd management fees of £123,086 (2023 £217,866). Xploro Ltd charged income for reimbursed costs to Xploro Inc of £245,582 (2023 £162,379) and are included in total turnover. At the balance sheet date the total amount due to Xploro Inc was £26,289 (2023 £60,793). Xploro Inc paid a capital contribution of £639,223 ($800,000) to Xploro Ltd (2023 £1,138,934, $1,450,000). Details are outlined in note 9.

Corporation Pop LtdDirectors in common.During the year the following transactions were incurred between the two companies:- expenditure for research and development of £48,900 (2023 £88,816) and general expenses including rent of £7,920 (2023 £7,920) and website costs of £6,070 (2023 £12,888). At the balance sheet date the total amount due to Corporation Pop Ltd was £3,540 (2023 £10,320).

Corporation Pop Ltd

Directors in common.

During the year the following transactions were incurred between the two companies:- expenditure for research and development of £48,900 (2023 £88,816) and general expenses including rent of £7,920 (2023 £7,920) and website costs of £6,070 (2023 £12,888). At the balance sheet date the total amount due to Corporation Pop Ltd was £3,540 (2023 £10,320).

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