Acorah Software Products - Accounts Production 16.3.350 false true true 31 August 2023 1 September 2022 false 27 May 2025 1 September 2023 31 August 2024 31 August 2024 11519201 Mercia Fund Management (Nominees) Limited Dr Christopher Evans Miss Sophie Jayne Copley Dr Nicolaus Henke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11519201 2023-08-31 11519201 2024-08-31 11519201 2023-09-01 2024-08-31 11519201 frs-core:CurrentFinancialInstruments 2024-08-31 11519201 frs-core:ComputerEquipment 2024-08-31 11519201 frs-core:ComputerEquipment 2023-09-01 2024-08-31 11519201 frs-core:ComputerEquipment 2023-08-31 11519201 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 11519201 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 11519201 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 11519201 frs-core:PlantMachinery 2024-08-31 11519201 frs-core:PlantMachinery 2023-09-01 2024-08-31 11519201 frs-core:PlantMachinery 2023-08-31 11519201 frs-core:WithinOneYear 2024-08-31 11519201 frs-core:OtherReservesSubtotal 2024-08-31 11519201 frs-core:SharePremium 2024-08-31 11519201 frs-core:ShareCapital 2024-08-31 11519201 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 11519201 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11519201 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 11519201 frs-bus:SmallEntities 2023-09-01 2024-08-31 11519201 frs-bus:Audited 2023-09-01 2024-08-31 11519201 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 11519201 frs-bus:OrdinaryShareClass1 2023-09-01 2024-08-31 11519201 frs-bus:OrdinaryShareClass1 2024-08-31 11519201 frs-bus:OrdinaryShareClass2 2023-09-01 2024-08-31 11519201 frs-bus:OrdinaryShareClass2 2024-08-31 11519201 frs-bus:OrdinaryShareClass3 2023-09-01 2024-08-31 11519201 frs-bus:OrdinaryShareClass3 2024-08-31 11519201 frs-bus:OrdinaryShareClass4 2023-09-01 2024-08-31 11519201 frs-bus:OrdinaryShareClass4 2024-08-31 11519201 frs-core:UnlistedNon-exchangeTraded 2024-08-31 11519201 frs-core:UnlistedNon-exchangeTraded 2023-08-31 11519201 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 11519201 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-08-31 11519201 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 11519201 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 11519201 frs-bus:Director1 2023-09-01 2024-08-31 11519201 frs-bus:Director1 2023-08-31 11519201 frs-bus:Director1 2024-08-31 11519201 frs-bus:Director2 2023-09-01 2024-08-31 11519201 frs-bus:Director3 2023-09-01 2024-08-31 11519201 frs-bus:Director3 2023-08-31 11519201 frs-bus:Director3 2024-08-31 11519201 frs-bus:Director4 2023-09-01 2024-08-31 11519201 frs-countries:EnglandWales 2023-09-01 2024-08-31 11519201 frs-core:Subsidiary1 2023-09-01 2024-08-31 11519201 frs-core:Subsidiary1 2024-08-31 11519201 frs-core:Subsidiary1 1 2023-09-01 2024-08-31 11519201 2022-08-31 11519201 2023-08-31 11519201 2022-09-01 2023-08-31 11519201 frs-core:CurrentFinancialInstruments 2023-08-31 11519201 frs-core:WithinOneYear 2023-08-31 11519201 frs-core:OtherReservesSubtotal 2023-08-31 11519201 frs-core:SharePremium 2023-08-31 11519201 frs-core:ShareCapital 2023-08-31 11519201 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 11519201 frs-bus:OrdinaryShareClass1 2022-09-01 2023-08-31 11519201 frs-bus:OrdinaryShareClass2 2022-09-01 2023-08-31 11519201 frs-bus:OrdinaryShareClass3 2022-09-01 2023-08-31 11519201 frs-bus:OrdinaryShareClass4 2022-09-01 2023-08-31
Registered number: 11519201
Little Journey Limited
Financial Statements
For The Year Ended 31 August 2024
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—7
Page 1
Balance Sheet
Registered number: 11519201
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 666,269 1,069,552
Tangible Assets 5 55,268 50,947
Investments 6 8 8
721,545 1,120,507
CURRENT ASSETS
Debtors 7 1,151,216 1,168,611
Cash at bank and in hand 171,374 1,310,056
1,322,590 2,478,667
Creditors: Amounts Falling Due Within One Year 8 (915,205 ) (471,655 )
NET CURRENT ASSETS (LIABILITIES) 407,385 2,007,012
TOTAL ASSETS LESS CURRENT LIABILITIES 1,128,930 3,127,519
NET ASSETS 1,128,930 3,127,519
CAPITAL AND RESERVES
Called up share capital 9 223 223
Share premium account 4,089,517 4,089,517
Other reserves 175,244 39,045
Profit and Loss Account (3,136,054 ) (1,001,266 )
SHAREHOLDERS' FUNDS 1,128,930 3,127,519
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
Dr Christopher Evans
Director
23 May 2025
The notes on pages 2 to 7 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Little Journey Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11519201 . The registered office is Health Foundry, Royal Street, London, SE1 7LL.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Exemption From Preparing Consolidated Financial Statements
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
2.3. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future. 
The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.
2.4. Significant judgements and estimations
In the application of the company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actualnresults may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
2.5. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.6. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets include software development costs and are measured at cost less accumulated amortisation. 
It is amortised to profit and loss account over its estimated economic life of 4 years.
2.7. 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 25% Straight line
Computer Equipment 33% Straight line
2.8. Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs. Transaction costs are expensed as incurred. 
Fixed asset investments represent shares held in a subsidiary company.
2.9. Leasing and Hire Purchase Contracts
Rentals payable under operating leases are charged to the profit or loss on a straight line basis over the term of the relevant lease.
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Page 3
2.10. Cash and Cash Equivalents
Cash and cash equivalents comprise cash on call deposits.
2.11. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
2.12. 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.
2.13. Taxation
Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
2.14. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.15. 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.
2.16. 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.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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Page 4
2.17. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. 
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.
2.18. 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. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 19)
42 19
4. Intangible Assets
Development Costs
£
Cost
As at 1 September 2023 1,613,133
As at 31 August 2024 1,613,133
Amortisation
As at 1 September 2023 543,581
Provided during the period 403,283
As at 31 August 2024 946,864
Net Book Value
As at 31 August 2024 666,269
As at 1 September 2023 1,069,552
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 2,025 70,938 72,963
Additions - 37,060 37,060
Disposals - (1,291 ) (1,291 )
As at 31 August 2024 2,025 106,707 108,732
...CONTINUED
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Page 5
Depreciation
As at 1 September 2023 1,139 20,877 22,016
Provided during the period 506 31,108 31,614
Disposals - (166 ) (166 )
As at 31 August 2024 1,645 51,819 53,464
Net Book Value
As at 31 August 2024 380 54,888 55,268
As at 1 September 2023 886 50,061 50,947
6. Investments
Unlisted
£
Cost
As at 1 September 2023 8
As at 31 August 2024 8
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 8
As at 1 September 2023 8
In the prior year, the company acquired 100% of the share capital of Little Journey Inc, a company incorporated in United States.
Subsidiaries
Details of the company's subsidiaries as at 31 August 2024 are as follows:
Name of undertaking Registered Office Class of shares held Direct holding Indirect holding
Little Journey Inc United States Common stock 100.00% -
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
Capital and Reserves Profit/(loss)
£ £
Little Journey Inc (29,637 ) (29,645 )
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 274,849 376,983
Prepayments and accrued income 73,634 84,041
Other debtors 25,737 466,583
Corporation tax recoverable 744,423 241,004
Amounts owed by subsidiaries 32,573 -
1,151,216 1,168,611
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Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 104,320 90,121
Other taxes and social security 413,812 53,568
Other creditors 35,135 7,186
Accruals and deferred income 361,938 320,772
Amounts owed to subsidiaries - 8
915,205 471,655
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100,000 Ordinary Shares of £ 0.001 each 100 100
3,480 Ordinary A shares of £ 0.001 each 3 3
54,824 Ordinary B shares of £ 0.001 each 55 55
64,912 Ordinary C shares of £ 0.001 each 65 65
223 223
Events afters the End of the Reporting Period
On 25th September 2024, 21,813 Seed Plus Ordinary shares of £0.001 each were allotted and fully paid at a price of £51.39 per share.
On 4th October 2024, 2,490 Seed Plus Ordinary shares of £0.001 each were allotted and fully paid at a price of £51.39 per share.
On 11th December 2024, 64,623 Seed Plus Ordinary shares of £0.001 each were allotted and fully paid at a price of £51.39 per share and 22,153 Seed Plus Ordinary shares of £0.001 each were allotted and fully paid at a price of £47.26 per share.
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 20,348 16,770
20,348 16,770
The amount of non-cancellable operating lease payments recognised as an expense during the year was £38,824 (2023 - £16,998).
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Dr Christopher Evans (42 ) 7,400 - - 7,358
Miss Sophie Copley 1,304 8,600 (300 ) - 9,604
The above loan is unsecured, interest free and repayable on demand.
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12. Guarantees
HSBC Innovation Banking (HSBC) hold a fixed charge over the accounts to which they relate. There is one security interest in favour of HSBC, with a fixed charge, containing a negative pledge.
13. Audit Information
The auditor's report on the accounts of Little Journey Limited for the year ended 31 August 2024 was unqualified.
The auditor's report was signed by Christopher Rayner (Senior Statutory Auditor) for and on behalf of Craufurd Hale Audit Services Limited , Statutory Auditor.
Craufurd Hale Audit Services Limited
Arena Court
Crown Lane
Maidenhead
SL6 8QZ
Page 7