Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 12062536 Mrs L Littlewood Dr C Owen Mr T Hayward iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12062536 2023-06-30 12062536 2024-06-30 12062536 2023-07-01 2024-06-30 12062536 frs-core:CurrentFinancialInstruments 2024-06-30 12062536 frs-core:Non-currentFinancialInstruments 2024-06-30 12062536 frs-core:ComputerEquipment 2023-07-01 2024-06-30 12062536 frs-core:FurnitureFittings 2023-07-01 2024-06-30 12062536 frs-core:LandBuildings 2024-06-30 12062536 frs-core:LandBuildings 2023-07-01 2024-06-30 12062536 frs-core:LandBuildings 2023-06-30 12062536 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 12062536 frs-core:PlantMachinery 2024-06-30 12062536 frs-core:PlantMachinery 2023-07-01 2024-06-30 12062536 frs-core:PlantMachinery 2023-06-30 12062536 frs-core:WithinOneYear 2024-06-30 12062536 frs-core:SharePremium 2024-06-30 12062536 frs-core:ShareCapital 2024-06-30 12062536 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 12062536 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12062536 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 12062536 frs-bus:SmallEntities 2023-07-01 2024-06-30 12062536 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12062536 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12062536 frs-core:UnlistedNon-exchangeTraded 2024-06-30 12062536 frs-core:UnlistedNon-exchangeTraded 2023-06-30 12062536 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-06-30 12062536 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 12062536 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-06-30 12062536 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-06-30 12062536 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 12062536 frs-bus:Director1 2023-07-01 2024-06-30 12062536 frs-bus:Director2 2023-07-01 2024-06-30 12062536 frs-bus:Director3 2023-07-01 2024-06-30 12062536 frs-countries:EnglandWales 2023-07-01 2024-06-30 12062536 2022-06-30 12062536 2023-06-30 12062536 2022-07-01 2023-06-30 12062536 frs-core:CurrentFinancialInstruments 2023-06-30 12062536 frs-core:Non-currentFinancialInstruments 2023-06-30 12062536 frs-core:BetweenOneFiveYears 2023-06-30 12062536 frs-core:WithinOneYear 2023-06-30 12062536 frs-core:SharePremium 2023-06-30 12062536 frs-core:ShareCapital 2023-06-30 12062536 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 12062536
272bio Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12062536
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 300,589 166,785
Investments 5 1,042,161 10,915
1,342,750 177,700
CURRENT ASSETS
Debtors 6 1,230,298 1,145,400
Cash at bank and in hand 2,302,110 294,914
3,532,408 1,440,314
Creditors: Amounts Falling Due Within One Year 7 (1,040,844 ) (856,349 )
NET CURRENT ASSETS (LIABILITIES) 2,491,564 583,965
TOTAL ASSETS LESS CURRENT LIABILITIES 3,834,314 761,665
Creditors: Amounts Falling Due After More Than One Year 8 (221,097 ) (355,094 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (49,074 ) (31,689 )
NET ASSETS 3,564,143 374,882
CAPITAL AND RESERVES
Called up share capital 10 1 1
Share premium account 6,100,002 100,000
Profit and Loss Account (2,535,860 ) 274,881
SHAREHOLDERS' FUNDS 3,564,143 374,882
Page 1
Page 2
For the year ending 30 June 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 C Owen
Director
Mr T Hayward
Director
12th December 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
272bio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12062536 . The registered office is The Gateway Building Collegiate Square, Shinfield, Reading, Berkshire, RG2 9LH.
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. 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% straight line method
Plant & Machinery 20% straight line method
Fixtures & Fittings 20% straight line method
Computer Equipment 20% straight line method
2.4. 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.
2.5. Financial Instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities,  including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
...CONTINUED
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Page 4
2.5. Financial Instruments - continued
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
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.
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. 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: 14 (2023: 13)
14 13
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 July 2023 - 250,184 250,184
Additions 33,856 126,423 160,279
As at 30 June 2024 33,856 376,607 410,463
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 July 2023 - 83,399 83,399
Provided during the period 2,162 24,313 26,475
As at 30 June 2024 2,162 107,712 109,874
Net Book Value
As at 30 June 2024 31,694 268,895 300,589
As at 1 July 2023 - 166,785 166,785
5. Investments
Unlisted
£
Cost
As at 1 July 2023 10,915
Additions 1,031,246
As at 30 June 2024 1,042,161
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 1,042,161
As at 1 July 2023 10,915
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 31,702 87,095
Amounts owed by group undertakings 797,111 546,027
Amounts owed by participating interests 1,344 9,785
Other debtors 109,945 71,963
940,102 714,870
Due after more than one year
Other debtors 290,196 430,530
1,230,298 1,145,400
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,097 27,699
Trade creditors 128,664 146,370
Bank loans and overdrafts 111,392 298,453
Amounts owed to participating interests 623,025 300,000
Other creditors 101,400 62,728
Taxation and social security 56,266 21,099
1,040,844 856,349
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Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 20,145
Bank loans 219,554 334,949
Other loans 1,543 -
221,097 355,094
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,097 27,699
Later than one year and not later than five years - 20,145
20,097 47,844
20,097 47,844
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Related Party Transactions
During the period, the company made loans of £251,084 (2023: £493,403) to companies in which it holds a participating interest.  At the balance sheet date,  the amount of £797,111 (2023: £546,027) remained outstanding. The loans are repayable on demand and included under debtors due within one year.
During the period,  the company received the repayment of loans totalling £9,785 and made new loans of £1,344, to companies under common control.  At the balance sheet date,  the amount of £1,344 (2023: £9,785) remained outstanding.  The loans are repayable on demand and included under debtors due within one year.
During the year the company received new loans of £324,568 (2023: £300,000) from companies under common control.  At the balance sheet date the amount of £624,568 (2023: £300,000) remained outstanding.  The loans were repayable on demand and included under creditors due within one year.  These loans were fully repaid shortly after the balance sheet date
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