Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2022 1 July 2022 false 1 January 2023 31 January 2024 31 January 2024 11400135 Mr J Clough Mr R G Robinson Mr A E Lloyd Ms C Namih Mr M Y See iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11400135 2022-12-31 11400135 2024-01-31 11400135 2023-01-01 2024-01-31 11400135 frs-core:CurrentFinancialInstruments 2024-01-31 11400135 frs-core:Non-currentFinancialInstruments 2024-01-31 11400135 frs-core:ComputerEquipment 2023-01-01 2024-01-31 11400135 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2024-01-31 11400135 frs-core:FurnitureFittings 2023-01-01 2024-01-31 11400135 frs-core:OtherResidualIntangibleAssets 2024-01-31 11400135 frs-core:OtherResidualIntangibleAssets 2023-01-01 2024-01-31 11400135 frs-core:OtherResidualIntangibleAssets 2022-12-31 11400135 frs-core:PlantMachinery 2024-01-31 11400135 frs-core:PlantMachinery 2023-01-01 2024-01-31 11400135 frs-core:PlantMachinery 2022-12-31 11400135 frs-core:OtherReservesSubtotal 2024-01-31 11400135 frs-core:SharePremium 2024-01-31 11400135 frs-core:ShareCapital 2024-01-31 11400135 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11400135 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2024-01-31 11400135 frs-bus:FilletedAccounts 2023-01-01 2024-01-31 11400135 frs-bus:SmallEntities 2023-01-01 2024-01-31 11400135 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2024-01-31 11400135 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-01-31 11400135 frs-bus:Director1 2023-01-01 2024-01-31 11400135 frs-bus:Director2 2023-01-01 2024-01-31 11400135 frs-bus:Director3 2023-01-01 2024-01-31 11400135 frs-bus:Director4 2023-01-01 2024-01-31 11400135 frs-bus:Director5 2023-01-01 2024-01-31 11400135 frs-countries:EnglandWales 2023-01-01 2024-01-31 11400135 2022-06-30 11400135 2022-12-31 11400135 2022-07-01 2022-12-31 11400135 frs-core:CurrentFinancialInstruments 2022-12-31 11400135 frs-core:Non-currentFinancialInstruments 2022-12-31 11400135 frs-core:OtherReservesSubtotal 2022-12-31 11400135 frs-core:SharePremium 2022-12-31 11400135 frs-core:ShareCapital 2022-12-31 11400135 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11400135
Robin AI Limited
Unaudited Financial Statements
For the Period 1 January 2023 to 31 January 2024
Back Office Support Solutions Ltd
Unit 326 Canalot Studios
222 Kensal Road
London
W10 5BN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11400135
31 January 2024 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,379,609 -
Tangible Assets 5 167,339 44,794
2,546,948 44,794
CURRENT ASSETS
Debtors 6 5,168,687 839,096
Investments 7 76 -
Cash at bank and in hand 10,258,514 494,596
15,427,277 1,333,692
Creditors: Amounts Falling Due Within One Year 8 (2,607,227 ) (826,585 )
NET CURRENT ASSETS (LIABILITIES) 12,820,050 507,107
TOTAL ASSETS LESS CURRENT LIABILITIES 15,366,998 551,901
Creditors: Amounts Falling Due After More Than One Year 9 - (2,455,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,835 ) (8,511 )
NET ASSETS/(LIABILITIES) 15,325,163 (1,912,110 )
CAPITAL AND RESERVES
Called up share capital 4 2
Share premium account 31,741,711 2,893,217
Other reserves 346,810 -
Profit and Loss Account (16,763,362 ) (4,805,329 )
SHAREHOLDERS' FUNDS 15,325,163 (1,912,110)
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For the period ending 31 January 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 R G Robinson
Director
31st January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Robin AI Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11400135 . The registered office is 10 Devonshire Square, London, EC2M 4YP.
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. 
During the financial year, the company breached the qualifying conditions set out in FRS 102 Section 1A for the first time. However, in accordance with Section 382 of the Companies Act 2006, the qualifying conditions must be breached for two consecutive financial years before the company should cease to apply FRS 102 Section 1A. As such, the company has continued to report under FRS 102 Section 1A for this financial year.
2.2. Going Concern Disclosure
The company is in an acute phase of growth. Having considered the contingency plans in place and having secured funding for the next 12 months, the directors consider that the adoption of the going concern basis in preparing these financial statements is appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Rendering of services
Turnover from the rendering of services is recognised over the period of the contractual obligation.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are measured at cost less accumulated amortisation any accumulated impairment losses. Amortisation 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:
  Domain                                                 10 years Straight Line
  Contract                                                5 years Straight Line 
2.5. Research and Development
Expenditure on research and development is written off in the year it is incurred.
2.6. 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:
Fixtures & Fittings 4 years Straight Line
Computer Equipment 3 years Straight Line
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.
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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 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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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.
2.10. Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a graded basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjusment is made to equity.
Options are exercisable at the price equal to the estimated fair value of the company's shares on the date of grant. The vesting period is 4 years and the options can be exercised on exit.
There are 251,598 options outstanding at 31 January 2024 (December 2022: 255,664).
The weighted average exercise prices of share options is £2.75 at 31 January 2024 (December 2022: £2.74).
The number of share options exercisable is 206,794 at a weighted average exercise price of £2.54 as at 31 January 2024.
2.11. Accounting period
The previous financial year ending December 2022 was shortened to a 6-month period. The current financial statements cover a 13-month period, ending in January 2024. 
3. Average Number of Employees
Average number of employees, including directors, during the period was: 96 (2022: 51)
96 51
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4. Intangible Assets
Intangible Assets
£
Cost
As at 1 January 2023 -
Additions 3,001,307
As at 31 January 2024 3,001,307
Amortisation
As at 1 January 2023 -
Provided during the period 621,698
As at 31 January 2024 621,698
Net Book Value
As at 31 January 2024 2,379,609
As at 1 January 2023 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 83,413
Additions 225,770
As at 31 January 2024 309,183
Depreciation
As at 1 January 2023 38,619
Provided during the period 103,225
As at 31 January 2024 141,844
Net Book Value
As at 31 January 2024 167,339
As at 1 January 2023 44,794
6. Debtors
31 January 2024 31 December 2022
£ £
Due within one year
Trade debtors 1,936,461 4,320
Amounts owed by group undertakings 769,168 -
Other debtors 2,165,127 702,551
4,870,756 706,871
Due after more than one year
Other debtors 297,931 132,225
5,168,687 839,096
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7. Current Asset Investments
31 January 2024 31 December 2022
£ £
Shares in subsidiaries 76 -
Shares in subsidiary are valued on date of purchase and not revalued due to fluctuations.
8. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 December 2022
£ £
Trade creditors 730,975 259,846
Bank loans and overdrafts 1,202 -
Other creditors 1,612,191 351,279
Taxation and social security 262,859 215,460
2,607,227 826,585
9. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 December 2022
£ £
Other creditors - 2,455,500
10. Related Party Transactions
During the year a loan was provided between the company and Robin AI Inc, a subsidiary which is 100% controlled by Robin AI Ltd.
At the end of the period, the amount owed to Robin AI Ltd was £769,168 (2022: NIL)
The loan is repayable on demand and interest free.
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