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 11710324 Mr Nick Torday Mr Damian Routley Mr Marcus Hill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11710324 2023-12-31 11710324 2024-12-31 11710324 2024-01-01 2024-12-31 11710324 frs-core:CurrentFinancialInstruments 2024-12-31 11710324 frs-core:Non-currentFinancialInstruments 2024-12-31 11710324 frs-core:BetweenOneFiveYears 2024-12-31 11710324 frs-core:ComputerEquipment 2024-12-31 11710324 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11710324 frs-core:ComputerEquipment 2023-12-31 11710324 frs-core:FurnitureFittings 2024-12-31 11710324 frs-core:FurnitureFittings 2024-01-01 2024-12-31 11710324 frs-core:FurnitureFittings 2023-12-31 11710324 frs-core:PlantMachinery 2024-12-31 11710324 frs-core:PlantMachinery 2024-01-01 2024-12-31 11710324 frs-core:PlantMachinery 2023-12-31 11710324 frs-core:WithinOneYear 2024-12-31 11710324 frs-core:OtherReservesSubtotal 2024-12-31 11710324 frs-core:SharePremium 2024-12-31 11710324 frs-core:ShareCapital 2024-12-31 11710324 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11710324 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11710324 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11710324 frs-bus:SmallEntities 2024-01-01 2024-12-31 11710324 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11710324 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11710324 frs-bus:Director1 2024-01-01 2024-12-31 11710324 frs-bus:Director2 2024-01-01 2024-12-31 11710324 frs-bus:Director3 2024-01-01 2024-12-31 11710324 frs-countries:EnglandWales 2024-01-01 2024-12-31 11710324 2022-12-31 11710324 2023-12-31 11710324 2023-01-01 2023-12-31 11710324 frs-core:CurrentFinancialInstruments 2023-12-31 11710324 frs-core:Non-currentFinancialInstruments 2023-12-31 11710324 frs-core:BetweenOneFiveYears 2023-12-31 11710324 frs-core:PlantMachinery 2023-01-01 2023-12-31 11710324 frs-core:WithinOneYear 2023-12-31 11710324 frs-core:OtherReservesSubtotal 2023-12-31 11710324 frs-core:SharePremium 2023-12-31 11710324 frs-core:ShareCapital 2023-12-31 11710324 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11710324
Bower Collective Ltd
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: 11710324
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,845 24,578
39,845 24,578
CURRENT ASSETS
Stocks 5 286,320 323,523
Debtors 6 144,330 23,784
Cash at bank and in hand 546,007 969,157
976,657 1,316,464
Creditors: Amounts Falling Due Within One Year 7 (572,898 ) (326,606 )
NET CURRENT ASSETS (LIABILITIES) 403,759 989,858
TOTAL ASSETS LESS CURRENT LIABILITIES 443,604 1,014,436
Creditors: Amounts Falling Due After More Than One Year 8 (61,413 ) (39,181 )
NET ASSETS 382,191 975,255
CAPITAL AND RESERVES
Called up share capital 10 26 24
Share premium account 5,848,116 5,621,937
Share options reserve 104,352 64,034
Profit and Loss Account (5,570,303 ) (4,710,740 )
SHAREHOLDERS' FUNDS 382,191 975,255
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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.
The financial statements were approved by the board of directors on 21 May 2025 and were signed on its behalf by:
Mr Marcus Hill
Director
21 May 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bower Collective Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 11710324 . The registered office is The Court, Alhampton, Shepton Mallet, BA4 6PZ.
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 company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Revenue is recognised to the extent that it is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods have passed to the buyer, usually on delivery of the goods and the costs incurred or to be incurred in respect of the transaction be measured reliably.
2.4. Research and Development
Expenditure on research and development is written off in the year it is incurred.
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:
Plant & Machinery over 4 years on a reducing balance basis
Equipment over 3 years on a straight line basis
Computer Equipment over 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. 
2.6. 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.
Leased assets acquired by way of finance lease are stated on initial recognition at an amount equal to the lower of their fair value and the present value of the minimum lease payments at inception of the lease, including any incremental costs directly attributable to negotiating and arranging the lease. At initial recognition a finance lease liability is recognised equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments, calculated using the interest rate implicit in the lease.
Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability using the rate implicit in the lease. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Contingent rents are charged as expenses in the periods in which they are incurred.
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 as an integral part of the total lease expenses.
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2.7. 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.
2.8. 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.
2.9. 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.
2.10. 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.
2.11. Share Based Payment
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 during the year was as follows: 14 (2023: 11)
14 11
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4. Tangible Assets
Plant & Machinery Equipment Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 31,903 7,830 6,307 46,040
Additions 33,408 287 374 34,069
As at 31 December 2024 65,311 8,117 6,681 80,109
Depreciation
As at 1 January 2024 17,665 652 3,145 21,462
Provided during the period 14,399 2,666 1,737 18,802
As at 31 December 2024 32,064 3,318 4,882 40,264
Net Book Value
As at 31 December 2024 33,247 4,799 1,799 39,845
As at 1 January 2024 14,238 7,178 3,162 24,578
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 23,238 -
5. Stocks
2024 2023
£ £
Stock 171,842 152,278
Finished goods 114,478 171,245
286,320 323,523
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,702 218
Other debtors 139,628 23,566
144,330 23,784
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,371 727
Trade creditors 330,395 210,867
Bank loans and overdrafts 7,233 7,233
Other loans 79,743 -
Other creditors 109,721 78,304
Taxation and social security 38,435 29,475
572,898 326,606
Included within other creditors are outstanding pension contributions of £7,314 (2023: £2,107)
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,971 -
Bank loans 31,948 39,181
Other creditors 13,494 -
61,413 39,181
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,922 727
Later than one year and not later than five years 19,331 -
28,253 727
Less: Finance charges allocated to future periods 4,911 -
23,342 727
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 26 24
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 115,797 -
Later than one year and not later than five years 354,967 -
470,764 -
12. Post Balance Sheet Events
On 31 January 2025, a total of 497,454 ordinary shares were allotted for £686,487.
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13. Share Based Payment
The 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 £2.52, £0.239 or £0.00001. 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 year ended 31 December 2024 is shown below:
Number of options - Weighted average exercise price 
Outstanding as at 1 January 2024: 41,967 - £0.14
Granted during the year: 26,751 - £2.52
Forfeited during the year: Nil - £Nil
Exercised during the year: (7500) - (£0.24)
Outstanding as at 31 December 2024: 61,218 - £1.17
Equity settled schemes - charges arising: £49,340 (2023: £64,034)
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