Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11800511 Mr Simon Allocca Mr David Bell Mr Geoff Chapman Ms Nicola Cranham Mr Timothy Gregory Mr Robert Kotlarz Mr Richard Little Mr Nigel Savory Ms Paula Sussex Mr Martin Wilson Mr Kevin Brown Mr Tobias Young iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11800511 2023-12-31 11800511 2024-12-31 11800511 2024-01-01 2024-12-31 11800511 frs-core:CurrentFinancialInstruments 2024-12-31 11800511 frs-core:Non-currentFinancialInstruments 2024-12-31 11800511 frs-core:ComputerEquipment 2024-12-31 11800511 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11800511 frs-core:ComputerEquipment 2023-12-31 11800511 frs-core:OtherReservesSubtotal 2024-12-31 11800511 frs-core:SharePremium 2024-12-31 11800511 frs-core:ShareCapital 2024-12-31 11800511 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11800511 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11800511 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11800511 frs-bus:SmallEntities 2024-01-01 2024-12-31 11800511 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11800511 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11800511 frs-bus:Director1 2024-01-01 2024-12-31 11800511 frs-bus:Director2 2024-01-01 2024-12-31 11800511 frs-bus:Director3 2024-01-01 2024-12-31 11800511 frs-bus:Director4 2024-01-01 2024-12-31 11800511 frs-bus:Director5 2024-01-01 2024-12-31 11800511 frs-bus:Director6 2024-01-01 2024-12-31 11800511 frs-bus:Director7 2024-01-01 2024-12-31 11800511 frs-bus:Director8 2024-01-01 2024-12-31 11800511 frs-bus:Director9 2024-01-01 2024-12-31 11800511 frs-bus:Director10 2024-01-01 2024-12-31 11800511 frs-bus:Director11 2024-01-01 2024-12-31 11800511 frs-bus:Director12 2024-01-01 2024-12-31 11800511 frs-countries:EnglandWales 2024-01-01 2024-12-31 11800511 2022-12-31 11800511 2023-12-31 11800511 2023-01-01 2023-12-31 11800511 frs-core:CurrentFinancialInstruments 2023-12-31 11800511 frs-core:Non-currentFinancialInstruments 2023-12-31 11800511 frs-core:OtherReservesSubtotal 2023-12-31 11800511 frs-core:SharePremium 2023-12-31 11800511 frs-core:ShareCapital 2023-12-31 11800511 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11800511
OneID Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11800511
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,293 21,495
5,293 21,495
CURRENT ASSETS
Debtors 5 257,681 281,015
Cash at bank and in hand 1,005,884 1,093,136
1,263,565 1,374,151
Creditors: Amounts Falling Due Within One Year 6 (423,223 ) (410,806 )
NET CURRENT ASSETS (LIABILITIES) 840,342 963,345
TOTAL ASSETS LESS CURRENT LIABILITIES 845,635 984,840
Creditors: Amounts Falling Due After More Than One Year 7 (795,496 ) (121,000 )
NET ASSETS 50,139 863,840
CAPITAL AND RESERVES
Called up share capital 8 45,171 41,073
Share premium account 16,079,900 13,661,189
Other reserves 429,822 27,510
Profit and Loss Account (16,504,754 ) (12,865,932 )
SHAREHOLDERS' FUNDS 50,139 863,840
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
Ms Paula Sussex
Director
14 May 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
OneID Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 11800511 . The registered office is Work.Life, CORE, Brown Street, Manchester, M2 1DH.
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
Since the Company's incorporation it has been financed by equity fundraises which the directors anticipate will continue to be the principal source of finance for the foreseeable future. The directors have prepared cashflow forecasts for the period ending 31 December 2025 which indicate that further fundraising will be required during this period. The amount of funding will depend on the speed taken to negotiate revenue generating contracts as the Company takes its OneID product to market. There are inherent material uncertainties on timing and amount and therefore this directly impacts on the amount of additional equity fundraising that will be required in the next twelve months.
The directors are also considering alternative debt funding solutions in addition to further equity fundraisings but recognise that there is a material uncertainty as to the timing and availability of such funding. The customer and prospect opportunities and other discussions give the directors strong grounds for believing that there is a profitable market for the product which supports the directors' use of the going concern basis of preparation for the financial statements. Furthermore, the directors recognise that additional equity fundraising depends on the ongoing support of current and new shareholders which cannot be guaranteed. The directors therefore recognise that this represents a further material uncertainty. Whilst the directors are confident that sufficient financial support will be available for the Company to operate as a going concern for the foreseeable future, they recognise that the events above represent material uncertainties regarding the going concern status of the Company.
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 rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.
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. 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% straight line
2.5. Leasing and Hire Purchase Contracts
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.
Page 3
Page 4
2.6. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and
other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial
recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the
case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred
beyond normal business terms, then it is measured at the present value of future payments discounted at a market
rate of interest for a similar debt instrument.
Impairment of financial assets
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 within
profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between
the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective
interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the
asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to
be sold at the balance sheet date.
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.
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.
Current tax for the year is recognised in profit or loss.
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. 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.
2.11. 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 shall be 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. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives. 
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.  
The costs involved in developing products for future sale are included in expenses. The company does not currently meet the accounting criteria necessary to capitalise such expenditure.
Page 4
Page 5
2.12. Preparation of consolidated accounts exemption
The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.
2.13. Share based payments
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking in to account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 31 (2023: 36)
31 36
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 61,767
As at 31 December 2024 61,767
Depreciation
As at 1 January 2024 40,272
Provided during the period 16,202
As at 31 December 2024 56,474
Net Book Value
As at 31 December 2024 5,293
As at 1 January 2024 21,495
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,362 1,413
Other debtors 253,319 279,602
257,681 281,015
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 69,019 82,954
Other loans 179,625 -
Other creditors 103,620 237,465
Taxation and social security 70,959 90,387
423,223 410,806
Other creditors includes an amount of £7,038 (2023: £6,914) in respect of pension contributions not yet paid.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 778,375 121,000
Other creditors 17,121 -
795,496 121,000
A loan of £958,000 (2023: £121,000) is secured by a fixed and floating charge over the assets of the company. 
The loan comprises an amount of £179,625 (2023: £0) falling due within one year and £778,375 (2023: £121,000) falling due after more than one year. 
Of the creditors falling due after more than one year the following amounts are due after more than five years and are repayable in instalments.
2024 2023
£ £
Other Creditors - 7,563
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 45,171 41,073
9. Post Balance Sheet Events
The company has raised funds of £672,000 since 31 December 2024 by the issue of further share equity.
10. Share based payments
The company operates two equity based share option schemes (approved EMI and an unapproved scheme) to certain consultants and employees which provides additional remuneration for those personnel who are key to the company. The options expire ten years after the date of the grant. Option-holders are not entitled to dividends until the shares are exercised. All options granted have performance conditions relating to the relevant consultant or employee remaining in the employment of the company at exercise.
A reconciliation of share option movements during the year ended 31 December 2024 is shown below:
Number of options - weighted average exercise price
Outstanding as at 1 January 2024:     157,385 - £0.37
Granted during the year:                     74,763 - £0.04
Forfeited during the year:                      (680) - £0.73
Exercised during the year:                   (2,697) - £0.14
Outstanding as at 31 December 2024: 228,771 - £0.26
...CONTINUED
Page 6
Page 7
The company is unable to directly measure the fair value of the share options. 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 share option schemes similar to that of the company.
Equity settled schemes - charges arising: £402,975  (2023: £29,227)
Page 7