Acorah Software Products - Accounts Production 16.3.350 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 12792274 Mr Joseph McVeigh Dr James Hall Mr John Bateson Mr Ahmed Ashour Ahmed iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12792274 2023-08-31 12792274 2024-08-31 12792274 2023-09-01 2024-08-31 12792274 frs-core:CurrentFinancialInstruments 2024-08-31 12792274 frs-core:Non-currentFinancialInstruments 2024-08-31 12792274 frs-core:ComputerEquipment 2024-08-31 12792274 frs-core:ComputerEquipment 2023-09-01 2024-08-31 12792274 frs-core:ComputerEquipment 2023-08-31 12792274 frs-core:SharePremium 2024-08-31 12792274 frs-core:ShareCapital 2024-08-31 12792274 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 12792274 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12792274 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 12792274 frs-bus:SmallEntities 2023-09-01 2024-08-31 12792274 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12792274 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12792274 frs-bus:Director1 2023-09-01 2024-08-31 12792274 frs-bus:Director2 2023-09-01 2024-08-31 12792274 frs-bus:Director3 2023-09-01 2024-08-31 12792274 frs-bus:Director4 2023-09-01 2024-08-31 12792274 frs-countries:EnglandWales 2023-09-01 2024-08-31 12792274 2022-08-31 12792274 2023-08-31 12792274 2022-09-01 2023-08-31 12792274 frs-core:CurrentFinancialInstruments 2023-08-31 12792274 frs-core:Non-currentFinancialInstruments 2023-08-31 12792274 frs-core:SharePremium 2023-08-31 12792274 frs-core:ShareCapital 2023-08-31 12792274 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 12792274
Singula Bio Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12792274
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 829
- 829
CURRENT ASSETS
Debtors 5 18,054 18,259
Cash at bank and in hand 75,647 12,566
93,701 30,825
Creditors: Amounts Falling Due Within One Year 6 (559,950 ) (144,972 )
NET CURRENT ASSETS (LIABILITIES) (466,249 ) (114,147 )
TOTAL ASSETS LESS CURRENT LIABILITIES (466,249 ) (113,318 )
Creditors: Amounts Falling Due After More Than One Year 7 (247,381 ) -
NET LIABILITIES (713,630 ) (113,318 )
CAPITAL AND RESERVES
Called up share capital 8 300 300
Share premium account 1,890,273 1,890,273
Profit and Loss Account (2,604,203 ) (2,003,891 )
SHAREHOLDERS' FUNDS (713,630) (113,318)
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For the year ending 31 August 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.
The financial statements were approved by the board of directors on 20 May 2025 and were signed on its behalf by:
Mr Joseph McVeigh
Director
20 May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Singula Bio Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 12792274 . The registered office is 20 Ambleside Drive, Headington, Oxford, OX3 0AG.
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 current liabilities of £466,249 and net liabilities of £713,630, the company's financial statements should be prepared on a going concern basis. Based on forecasts prepared by the directors, the directors consider that the company will have adequate future sources of funding or support from external investors to meet the company's needs for a period of at least 12 months from the date of approval of these financial statements. The financial statements do not include any adjustments that may arise from any significant changes in the assumptions used in preparing the forecasts.
2.3. Research and Development
Expenditure on research and development is written off in the year it is incurred.
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 3 years on a straight line basis
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss.

2.5. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease an an integral part of the total lease expenses.

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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. 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.
2.8. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.
2.9. Warrants
Warrants issued by the company, as part of finance charges for a loan taken out, which is also convertible into equity, are treated as a company expense, with a corresponding creditor, when the warrants are issued.
The fair value of the warrants granted is measured using the Black-Scholes model.
3. Average Number of Employees
Average number of employees during the year was as follows: 4 (2023: 5)
4 5
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 4,738
As at 31 August 2024 4,738
Depreciation
As at 1 September 2023 3,909
Provided during the period 829
As at 31 August 2024 4,738
...CONTINUED
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Net Book Value
As at 31 August 2024 -
As at 1 September 2023 829
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 18,054 18,259
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,578 132,276
Other loans 500,000 -
Other creditors 43,272 12,696
Taxation and social security 3,100 -
559,950 144,972
Included within other creditors are outstanding pension contributions of £621 (2023: £1,584). 
Of the other loans, the following amounts are secured by a fixed and floating charge over the assets of the company: 
                                                                                                                                                     2024            2023
                                                                                                                                                         £                 £
Other creditors                                                                                                                         500,000               -
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 247,381 -
Included within other creditors are warrants of £247,381 (2023: £Nil).
The company has issued a warrant instrument for warrant shares during the year, as part of a convertible loan agreement. The warrant instrument has an expiration date of 13 October 2030, and can be exercised into 18,571 Ordinary shares (or 5% of the Fully Diluted Share Capital if further equity shares have been issued) at an exercise price of £0.001. The directors have used the Black-Scholes model to determine the fair value of the warrant instrument.
The fair value of the warrant instrument has been recognised in the profit and loss account and in creditors on the balance sheet. 
Equity settled share based payments charges arising - £247,381 (2023: £Nil)
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
9. Post Balance Sheet Events
Following the year end, the company has agreed a repayment extension until 31 December 2025 for the loan of £500,000 which may be convertible into equity.
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10. Related Party Transactions
At 31 August 2024, a loan of £1,891 (2023: £1,891) was owed to Singula Bio Ltd by the directors. All balances attract a nil rate of interest and are repayable upon demand.
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