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Registered number: 13162692
Supercritical Tech Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
dines Accountancy Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Supercritical Tech Ltd For The Year Ended 31 December 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Supercritical Tech Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Supercritical Tech Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Supercritical Tech Ltd and state those matters that we have agreed to state to the directors of Supercritical Tech Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Supercritical Tech Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Supercritical Tech Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Supercritical Tech Ltd . You consider that Supercritical Tech Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Supercritical Tech Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Robert Fiford FCCA
15/05/2025
dines Accountancy Limited
ACCA
Edinburgh House
170 Kennington Lane
London
SE11 5DP
Page 1
Page 2
Balance Sheet
Registered number: 13162692
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,270 25,959
23,270 25,959
CURRENT ASSETS
Stocks 5 844,938 960,545
Debtors 6 1,760,382 2,069,293
Cash at bank and in hand 6,967,456 8,045,520
9,572,776 11,075,358
Creditors: Amounts Falling Due Within One Year 7 (3,929,437 ) (2,925,554 )
NET CURRENT ASSETS (LIABILITIES) 5,643,339 8,149,804
TOTAL ASSETS LESS CURRENT LIABILITIES 5,666,609 8,175,763
NET ASSETS 5,666,609 8,175,763
CAPITAL AND RESERVES
Called up share capital 8 185 185
Share premium account 11,378,120 11,378,120
Fair value reserve 10 33,749 28,619
Profit and Loss Account (5,745,445 ) (3,231,161 )
SHAREHOLDERS' FUNDS 5,666,609 8,175,763
Page 2
Page 3
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 A Randall
Director
15/05/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Supercritical Tech Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13162692 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
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:
Fixtures & Fittings 20% Straight Line
Computer Equipment 33% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress on any long term services agreements 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.
2.5. 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.
2.6. Share based payments
The company operates an approved Enterprise Management Incentives scheme ("EMI”) and an unapproved scheme. The purpose of these plans is to incentivise and remunerate the company’s employees. These schemes meet the definition of equity settled share-based payment schemes.
Estimating fair value for share-based compensation transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share awards, volatility and dividend yield and making assumptions about them. The Company measures the fair value of equity-settled transactions with employees at the grant date using a Black-Scholes Model.
The fair value of the awards is recognised as an expense in the Profit and Loss Account over the vesting period. The cumulative expense at each reporting date is based on the total number of awards that are expected to vest, taking into account the service conditions and any non-market performance conditions such that the total cumulative amount recognised as an expense over the vesting period is based on the number of options that eventually vest. The Company has to estimate the expected yearly percentage of employees that will stay within the Company at the end of the vesting period of the share awards in order to determine the amount of share-based compensation expense charged to the Profit and Loss Account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 18)
21 18
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 2,131 35,158 37,289
Additions 679 10,823 11,502
Disposals - (3,142 ) (3,142 )
As at 31 December 2024 2,810 42,839 45,649
Depreciation
As at 1 January 2024 677 10,653 11,330
Provided during the period 480 12,974 13,454
Disposals - (2,405 ) (2,405 )
As at 31 December 2024 1,157 21,222 22,379
Net Book Value
As at 31 December 2024 1,653 21,617 23,270
As at 1 January 2024 1,454 24,505 25,959
5. Stocks
31 December 2024 31 December 2023
£ £
Inventory: carbon offsets 844,938 960,545
6. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 601,776 751,447
Other debtors 1,158,606 1,317,846
1,760,382 2,069,293
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7. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 165,969 23,267
Other taxes and social security 118,588 51,453
VAT 215,839 65,361
Other creditors 18,070 8,616
Convertible loans 1,250,000 1,250,000
Accruals and deferred income 2,160,971 1,526,857
3,929,437 2,925,554
Covertible Loans
The convertible loans are loans from company shareholders that have the potential to be converted into company equity at a point in the future.  They do not accrue additional interest over time.
8. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 185 185
9. 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 50,370 -
50,370 -
10. Reserves
Fair Value Reserve
£
As at 1 January 2024 28,619
Movements in fair value reserve 5,130
As at 31 December 2024 33,749
Share Options Fair Value Reserve
The Company issues equity-settled share-based payment awards to certain employees and externally provided workers. Equity-settled share-based payments are measured at fair value (excluding the effect of non-market performance vesting conditions) at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company's estimate of the number of awards that will eventually vest and adjusted for the effect of non-market-based vesting conditions.
All options granted have performance conditions relating to the relevant employee remaining in the employment of the company at the vesting date. The options will vest monthly over a period of 4 years. If not exercised the share options will lapse 40 days after a sale or exit event, or on the tenth anniversary of the date of the grant. Unvested share options will lapse where an employee leaves the Company subject to the directors' discretion.
...CONTINUED
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10. Reserves - continued
The company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share schemes similar to the scheme in place.
Share options are exercisable at a price determined through each individual option agreement. Options are exercisable once they have vested and the employee meets the Rules of the Scheme set out in the Option Holder's Option Documentation. Options are also exercisable in either the event of a sale or listing of the company or, at managements discretion, if the employee meets the requirement of a "good leaver". When exercised the share options are settled in equity.The entire option lapses on the 10th anniversary of the grant date. If an option holder ceases to be an employee (other than where they are dismissed), then that option holder can retain the option (to the extent vested) and they can exercise their option (to the extent vested) on an exit event. However, as an alternate, the Board has discretion to allow an option holder to exercise the option (to the extent vested) for a period of 90 days from the date the option holder ceases to be an employee. If the Board exercises its discretion and an option holder doesn’t exercise the option during such time, the entire option automatically lapses.
The total number of options granted as at the balance sheet date were 1,225,848 of which 817,863 had vested. The total expense in relation to the equity settled schemes which has been recognised in the Profit and Loss Account for the period is £5,130.
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