Acorah Software Products - Accounts Production 16.3.350 false true true false 7 November 2023 31 March 2025 31 March 2025 15267111 Andrew Ritchie Robert Dewing Pontoro Inc Suite 120-230 650 Castro Street, Mountain View, California, United States, 94041 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15267111 2023-11-06 15267111 2025-03-31 15267111 2023-11-07 2025-03-31 15267111 frs-core:CurrentFinancialInstruments 2025-03-31 15267111 frs-core:ComputerEquipment 2025-03-31 15267111 frs-core:ComputerEquipment 2023-11-07 2025-03-31 15267111 frs-core:ComputerEquipment 2023-11-06 15267111 frs-core:OtherReservesSubtotal 2025-03-31 15267111 frs-core:ShareCapital 2025-03-31 15267111 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 15267111 frs-bus:PrivateLimitedCompanyLtd 2023-11-07 2025-03-31 15267111 frs-bus:FilletedAccounts 2023-11-07 2025-03-31 15267111 frs-bus:SmallEntities 2023-11-07 2025-03-31 15267111 frs-bus:AuditExempt-NoAccountantsReport 2023-11-07 2025-03-31 15267111 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-07 2025-03-31 15267111 1 2023-11-07 2025-03-31 15267111 frs-bus:Director1 2023-11-07 2025-03-31 15267111 frs-bus:Director2 2023-11-07 2025-03-31 15267111 frs-countries:EnglandWales 2023-11-07 2025-03-31
Registered number: 15267111
Pontoro UK Ltd
Unaudited Financial Statements
For the Period 7 November 2023 to 31 March 2025
Finerva
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 15267111
31 March 2025
Notes £ £
FIXED ASSETS
Tangible Assets 4 781
781
CURRENT ASSETS
Debtors 5 6,531
Cash at bank and in hand 36,461
42,992
Creditors: Amounts Falling Due Within One Year 6 (95,972 )
NET CURRENT ASSETS (LIABILITIES) (52,980 )
TOTAL ASSETS LESS CURRENT LIABILITIES (52,199 )
NET LIABILITIES (52,199 )
CAPITAL AND RESERVES
Called up share capital 8 1
Share options reserve 31,745
Profit and Loss Account (83,945 )
SHAREHOLDERS' FUNDS (52,199)
For the period ending 31 March 2025 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
Robert Dewing
Director
20 May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pontoro UK Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 15267111 . The registered office is 10 Finsbury Square, London, EC2A 1AF.
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 directors believe that notwithstanding net liabilities of £52,199, the company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be adequate to meet the company’s needs for a period of at least 12 months from the date of approval of these financial statements. 
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. 
Intercompany Services
Revenue from the provision of services to the parent company is recognised in the profit and loss account when the services are delivered, and the amount of revenue can be measured reliably. Revenue is measured at the fair value of the consideration received or receivable, excluding VAT.
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 over 3 years on a straight line basis
2.5. 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.
2.6. 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.
Page 2
Page 3
2.7. 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.
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.
2.9. Related party exemption
The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries in the group.
2.10. Share based payment
The grant date fair value of share-based payments awards granted by the parent company to the company's 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: 2
2
4. Tangible Assets
Computer Equipment
£
Cost
As at 7 November 2023 -
Additions 1,084
As at 31 March 2025 1,084
Depreciation
As at 7 November 2023 -
Provided during the period 303
As at 31 March 2025 303
Net Book Value
As at 31 March 2025 781
As at 7 November 2023 -
5. Debtors
31 March 2025
£
Due within one year
Other debtors 6,531
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
31 March 2025
£
Trade creditors 60,470
Amounts owed to group undertakings 11
Other creditors 35,491
95,972
7. Secured Creditors
A fixed charge in favour of HSBC Innovation Banking was registered on 25 April 2024  in connection with the company’s banking arrangements.
8. Share Capital
31 March 2025
£
Allotted, Called up and fully paid 1
9. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,991 were due to the fund.  They are included in Other Creditors.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Pontoro Inc . Pontoro Inc was incorporated in the United States of America and its registered office address is Suite 120-230 650 Castro Street, Mountain View, California, United States, 94041 . The ultimate controlling party is Pontoro Inc who controls 100% of the shares of Pontoro UK Ltd .
No consolidated financial statements have been prepared. 
11. Share Based Payment
The parent company operates an equity based share option scheme to certain employees which provides additional remuneration for those employees who are key to the company. The options are granted under an approved EMI option plan, with the exercise price of £0.32. The options expire ten years after the date of the grant. Employees are not entitled to dividends until the shares are exercised. All options granted have performance conditions relating to the relevant employee remaining in the employment of the company at exercise. 
A reconciliation of share option movements during the period ended 31 March 2025 is shown below:
Number of options - Weighted average exercise price 
Granted during the period: 190,000 - £0.32
Forfeited during the year: Nil - £Nil
Exercised during the year: Nil - £Nil
Outstanding as at 31 March 2025: 190,000 - £0.32
Equity settled schemes - charges arising: £31,745
Page 4