Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 August 2023 false 1 January 2024 31 December 2024 31 December 2024 12409134 Dr James Brownjohn Dr Emma Hudson Mr Neil Kirk Professor Aleksandar Pavic Dr Paul Reynolds Mr Steven Senior Dr Thomas Weller true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12409134 2023-12-31 12409134 2024-12-31 12409134 2024-01-01 2024-12-31 12409134 frs-core:CurrentFinancialInstruments 2024-12-31 12409134 frs-core:Non-currentFinancialInstruments 2024-12-31 12409134 frs-core:ComputerEquipment 2024-12-31 12409134 frs-core:ComputerEquipment 2024-01-01 2024-12-31 12409134 frs-core:ComputerEquipment 2023-12-31 12409134 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 12409134 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 12409134 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12409134 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 12409134 frs-core:OtherResidualIntangibleAssets 2024-12-31 12409134 frs-core:OtherResidualIntangibleAssets 2023-12-31 12409134 frs-core:PlantMachinery 2024-12-31 12409134 frs-core:PlantMachinery 2024-01-01 2024-12-31 12409134 frs-core:PlantMachinery 2023-12-31 12409134 frs-core:WithinOneYear 2024-12-31 12409134 frs-core:SharePremium 2024-12-31 12409134 frs-core:ShareCapital 2024-12-31 12409134 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12409134 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12409134 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12409134 frs-bus:SmallEntities 2024-01-01 2024-12-31 12409134 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12409134 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12409134 1 2024-01-01 2024-12-31 12409134 frs-bus:Director1 2024-01-01 2024-12-31 12409134 frs-bus:Director2 2024-01-01 2024-12-31 12409134 frs-bus:Director3 2024-01-01 2024-12-31 12409134 frs-bus:Director4 2024-01-01 2024-12-31 12409134 frs-bus:Director5 2024-01-01 2024-12-31 12409134 frs-bus:Director6 2024-01-01 2024-12-31 12409134 frs-bus:Director7 2024-01-01 2024-12-31 12409134 frs-countries:EnglandWales 2024-01-01 2024-12-31 12409134 2023-07-31 12409134 2023-12-31 12409134 2023-08-01 2023-12-31 12409134 frs-core:CurrentFinancialInstruments 2023-12-31 12409134 frs-core:Non-currentFinancialInstruments 2023-12-31 12409134 frs-core:WithinOneYear 2023-12-31 12409134 frs-core:SharePremium 2023-12-31 12409134 frs-core:ShareCapital 2023-12-31 12409134 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 12409134
FSD Active Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12409134
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 62,767 31,286
62,768 31,287
CURRENT ASSETS
Stocks 6 224,448 163,019
Debtors 7 120,658 247,225
Cash at bank and in hand 2,929,958 353,784
3,275,064 764,028
Creditors: Amounts Falling Due Within One Year 8 (369,645 ) (724,358 )
NET CURRENT ASSETS (LIABILITIES) 2,905,419 39,670
TOTAL ASSETS LESS CURRENT LIABILITIES 2,968,187 70,957
Creditors: Amounts Falling Due After More Than One Year 9 (3,199,369 ) (67,600 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,973 ) (5,945 )
NET LIABILITIES (236,155 ) (2,588 )
CAPITAL AND RESERVES
Called up share capital 10 558 558
Share premium account 925,287 925,287
Profit and Loss Account (1,162,000 ) (928,433 )
SHAREHOLDERS' FUNDS (236,155) (2,588)
Page 1
Page 2
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
Dr Paul Reynolds
Director
31/03/2025
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
FSD Active Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12409134 . The registered office is Unit 14 Greenway Farm, Bath Road, Wick, Bristol, BS30 5RL.
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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The balance sheet shows net liabilities of £236,155 as at 31 December 2024 (2023: net liabilities of £2,588).
The directors are confident that the company will have sufficient funds to continue to trade for the foreseeable future.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are made up of intellectual property (patents). The patents are subject to an annual review for impairment.
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:
Leasehold 3 years straight line
Plant & Machinery 3 years straight line
Computer Equipment 3 years straight line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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.
Page 3
Page 4
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 contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
31 December 2024 31 December 2023
Office and administration 10 6
10 6
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 1
As at 31 December 2024 1
Net Book Value
As at 31 December 2024 1
As at 1 January 2024 1
Page 4
Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 8,753 20,915 23,030 52,698
Additions - 36,592 14,988 51,580
As at 31 December 2024 8,753 57,507 38,018 104,278
Depreciation
As at 1 January 2024 3,429 5,440 12,543 21,412
Provided during the period 2,917 7,645 9,537 20,099
As at 31 December 2024 6,346 13,085 22,080 41,511
Net Book Value
As at 31 December 2024 2,407 44,422 15,938 62,767
As at 1 January 2024 5,324 15,475 10,487 31,286
6. Stocks
31 December 2024 31 December 2023
£ £
Materials 169,560 78,326
Finished goods 54,888 84,693
224,448 163,019
7. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 11,822 217,191
Prepayments and accrued income 105,472 30,034
Other taxes and social security 3,364 -
120,658 247,225
8. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 38,864 38,586
Other loans 75,000 -
Other taxes and social security - 41,165
Other creditors 27,477 10,088
Accruals and deferred income 228,304 634,519
369,645 724,358
Page 5
Page 6
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Other loans 3,131,769 -
Directors loan account 67,600 67,600
3,199,369 67,600
10. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 558 558
11. Financial Instruments
During the year and included within other loans, the company received a convertible loan of £3,063,019, which will convert to equity at the next funding round close. 
The loan incurs interest at 8% per annum until conversion and is classified as a liability per the terms of the agreement.
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2024 31 December 2023
£ £
Not later than one year 7,200 17,280
7,200 17,280
13. Ultimate Controlling Party
In the opinion of the directors, the company has no controlling party in line with the issued ordinary share capital.
Page 6