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 SC543722 Mr Nicholas Beeson Mr Stuart Gilmore James O'Dowd Mr Bryan Turner Burness Paull LLP iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC543722 2023-08-31 SC543722 2024-08-31 SC543722 2023-09-01 2024-08-31 SC543722 frs-core:CurrentFinancialInstruments 2024-08-31 SC543722 frs-core:Non-currentFinancialInstruments 2024-08-31 SC543722 frs-core:ComputerEquipment 2024-08-31 SC543722 frs-core:ComputerEquipment 2023-09-01 2024-08-31 SC543722 frs-core:ComputerEquipment 2023-08-31 SC543722 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-08-31 SC543722 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-09-01 2024-08-31 SC543722 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-08-31 SC543722 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 SC543722 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 SC543722 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 SC543722 frs-core:MotorVehicles 2024-08-31 SC543722 frs-core:MotorVehicles 2023-09-01 2024-08-31 SC543722 frs-core:MotorVehicles 2023-08-31 SC543722 frs-core:OtherResidualIntangibleAssets 2024-08-31 SC543722 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 SC543722 frs-core:OtherResidualIntangibleAssets 2023-08-31 SC543722 frs-core:PlantMachinery 2024-08-31 SC543722 frs-core:PlantMachinery 2023-09-01 2024-08-31 SC543722 frs-core:PlantMachinery 2023-08-31 SC543722 frs-core:SharePremium 2024-08-31 SC543722 frs-core:ShareCapital 2024-08-31 SC543722 frs-core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 SC543722 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC543722 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC543722 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC543722 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC543722 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC543722 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC543722 frs-bus:Director1 2023-09-01 2024-08-31 SC543722 frs-bus:Director2 2023-09-01 2024-08-31 SC543722 frs-bus:Director3 2023-09-01 2024-08-31 SC543722 frs-bus:Director4 2023-09-01 2024-08-31 SC543722 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 SC543722 frs-countries:Scotland 2023-09-01 2024-08-31 SC543722 2022-08-31 SC543722 2023-08-31 SC543722 2022-09-01 2023-08-31 SC543722 frs-core:CurrentFinancialInstruments 2023-08-31 SC543722 frs-core:Non-currentFinancialInstruments 2023-08-31 SC543722 frs-core:SharePremium 2022-08-31 SC543722 frs-core:SharePremium 2023-08-31 SC543722 frs-core:ShareCapital 2022-08-31 SC543722 frs-core:ShareCapital 2023-08-31 SC543722 frs-core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 SC543722 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-08-31 SC543722 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: SC543722
Ebar Initiatives Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Jenson Solutions
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: SC543722
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 166,414 203,188
Tangible Assets 5 281,411 472,857
447,825 676,045
CURRENT ASSETS
Stocks 6 58,073 26,943
Debtors 7 53,172 12,557
Cash at bank and in hand 184,693 625,533
295,938 665,033
Creditors: Amounts Falling Due Within One Year 8 (273,260 ) (195,476 )
NET CURRENT ASSETS (LIABILITIES) 22,678 469,557
TOTAL ASSETS LESS CURRENT LIABILITIES 470,503 1,145,602
Creditors: Amounts Falling Due After More Than One Year 9 - (24,341 )
NET ASSETS 470,503 1,121,261
CAPITAL AND RESERVES
Called up share capital 10 38,702 38,702
Share premium account 2,704,103 2,704,103
Profit and Loss Account (2,272,302 ) (1,621,544 )
SHAREHOLDERS' FUNDS 470,503 1,121,261
Page 1
Page 2
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.
On behalf of the board
Mr Nicholas Beeson
Director
27/05/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 September 2022 34,444 1,809,181 (938,006 ) 905,619
Loss for the year and total comprehensive income - - (683,538 ) (683,538)
Arising on shares issued during the period 4,258 894,922 - 899,180
As at 31 August 2023 and 1 September 2023 38,702 2,704,103 (1,621,544 ) 1,121,261
Loss for the year and total comprehensive income - - (650,758 ) (650,758)
As at 31 August 2024 38,702 2,704,103 (2,272,302 ) 470,503
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Ebar Initiatives Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC543722 . The registered office is 2 Marischal Square, Broad Street, Aberdeen, AB10 1DQ.
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
During the 2024 financial year,  the company reported an operating loss.   The directors acknowledge the continuing reliance on the financial support from investors in order to grow their asset fleet and to develop new products.   The directors have been encouraged with the support that has been provided to the business from the public sector to date.
The directors have prepared financial projections through to August 2026 and they show there is sufficient working capital to fund the company should events go as planned.   As previously noted, the directors recognise that the company requires further investment in order to continue to grow and operate.   Whilst no capital was raised during the 2024 financial year,  post year end further funding was secured to provide working capital for the company for the 2025 financial year.   The directors are now in discussions with third parties with regards to securing further funding in 2026, to allow them to continue their expansion and provide working capital for the company as it expands its operations in the UK and overseas.   Whilst the outcome of these discussions is inherently uncertain,  the directors are prepared,  at the time of signing these financial statements,  to change the direction of the company to accommodate future funding outcomes for the long‑term financial security of the company.
In conclusion,  notwithstanding the uncertainty noted above,  the directors have a reasonable expectation that the company will obtain sufficient financial resources to meet liabilities as they fall due,  for at least twelve months from the approval date of these financial statements.   The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:
Computer software 3 years straight line
Development costs 3 years straight line 
Trademarks, patents and licences 20 years straight line
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2.5. 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 is 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 to the profit and loss on a straight line basis over their expected useful economic lives, which range from three to five years.
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.
2.6. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are Trademarks, patents and licences.  It is amortised to the profit and loss account over its estimated economic life of 20 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 5 years straight line
Motor Vehicles 4 years straight line
Computer Equipment 4 years straight line
Assets under construction are not depreciated
2.8. 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.
2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Intangible Assets
Trademarks, patents and licences Development Costs Software Total
£ £ £ £
Cost
As at 1 September 2023 119,126 125,612 77,375 322,113
Additions 20,425 - 18,125 38,550
As at 31 August 2024 139,551 125,612 95,500 360,663
Amortisation
As at 1 September 2023 9,861 81,731 27,333 118,925
Provided during the period 6,245 41,870 27,209 75,324
As at 31 August 2024 16,106 123,601 54,542 194,249
Net Book Value
As at 31 August 2024 123,445 2,011 40,958 166,414
As at 1 September 2023 109,265 43,881 50,042 203,188
Software includes assets under construction of £8,750 (2023 £nil)
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 634,312 - 6,025 640,337
Additions - 16,112 - 16,112
Disposals (518 ) - - (518 )
As at 31 August 2024 633,794 16,112 6,025 655,931
Depreciation
As at 1 September 2023 164,533 - 2,947 167,480
Provided during the period 205,561 504 975 207,040
As at 31 August 2024 370,094 504 3,922 374,520
Net Book Value
As at 31 August 2024 263,700 15,608 2,103 281,411
As at 1 September 2023 469,779 - 3,078 472,857
Plant and Machinery includes assets under construction of £nil (2032, £68,106)
6. Stocks
2024 2023
£ £
Work in progress 58,073 26,943
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,947 720
Prepayments and accrued income 17,557 9,457
Other debtors 505 -
VAT - 2,380
Net wages 163 -
53,172 12,557
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 218,115 169,880
Other taxes and social security - 14,708
VAT 2,000 -
Other creditors 1,665 2,899
Accruals and deferred income 51,480 7,989
273,260 195,476
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 24,341
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 38,702 38,702
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