Acorah Software Products - Accounts Production 16.3.350 false true true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 10548504 P Bredthauer V S Buitelaar C F Williams S Wright A Schenato true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10548504 2024-01-31 10548504 2025-01-31 10548504 2024-02-01 2025-01-31 10548504 frs-core:CurrentFinancialInstruments 2025-01-31 10548504 frs-core:ComputerEquipment 2025-01-31 10548504 frs-core:ComputerEquipment 2024-02-01 2025-01-31 10548504 frs-core:ComputerEquipment 2024-01-31 10548504 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-01 2025-01-31 10548504 frs-core:FurnitureFittings 2025-01-31 10548504 frs-core:FurnitureFittings 2024-02-01 2025-01-31 10548504 frs-core:FurnitureFittings 2024-01-31 10548504 frs-core:OtherResidualIntangibleAssets 2025-01-31 10548504 frs-core:OtherResidualIntangibleAssets 2024-02-01 2025-01-31 10548504 frs-core:OtherResidualIntangibleAssets 2024-01-31 10548504 frs-core:WithinOneYear 2025-01-31 10548504 frs-core:OtherReservesSubtotal 2025-01-31 10548504 frs-core:SharePremium 2025-01-31 10548504 frs-core:ShareCapital 2025-01-31 10548504 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 10548504 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 10548504 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 10548504 frs-bus:SmallEntities 2024-02-01 2025-01-31 10548504 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 10548504 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 10548504 frs-bus:OrdinaryShareClass1 2024-02-01 2025-01-31 10548504 frs-bus:OrdinaryShareClass1 2025-01-31 10548504 frs-bus:OrdinaryShareClass2 2024-02-01 2025-01-31 10548504 frs-bus:OrdinaryShareClass2 2025-01-31 10548504 frs-bus:OrdinaryShareClass3 2024-02-01 2025-01-31 10548504 frs-bus:OrdinaryShareClass3 2025-01-31 10548504 frs-bus:OrdinaryShareClass4 2024-02-01 2025-01-31 10548504 frs-bus:OrdinaryShareClass4 2025-01-31 10548504 1 2024-02-01 2025-01-31 10548504 frs-bus:Director1 2024-02-01 2025-01-31 10548504 frs-bus:Director2 2024-02-01 2025-01-31 10548504 frs-bus:Director3 2024-02-01 2025-01-31 10548504 frs-bus:Director4 2024-02-01 2025-01-31 10548504 frs-bus:Director5 2024-02-01 2025-01-31 10548504 frs-countries:EnglandWales 2024-02-01 2025-01-31 10548504 2023-01-31 10548504 2024-01-31 10548504 2023-02-01 2024-01-31 10548504 frs-core:CurrentFinancialInstruments 2024-01-31 10548504 frs-core:WithinOneYear 2024-01-31 10548504 frs-core:OtherReservesSubtotal 2024-01-31 10548504 frs-core:SharePremium 2024-01-31 10548504 frs-core:ShareCapital 2024-01-31 10548504 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 10548504 frs-bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10548504 frs-bus:OrdinaryShareClass2 2023-02-01 2024-01-31 10548504 frs-bus:OrdinaryShareClass3 2023-02-01 2024-01-31 10548504 frs-bus:OrdinaryShareClass4 2023-02-01 2024-01-31
Registered number: 10548504
Proda Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10548504
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,818 12,526
Tangible Assets 5 63,141 40,075
77,959 52,601
CURRENT ASSETS
Debtors 6 941,662 672,211
Cash at bank and in hand 2,397,042 2,096,340
3,338,704 2,768,551
Creditors: Amounts Falling Due Within One Year 7 (712,693 ) (472,955 )
NET CURRENT ASSETS (LIABILITIES) 2,626,011 2,295,596
TOTAL ASSETS LESS CURRENT LIABILITIES 2,703,970 2,348,197
NET ASSETS 2,703,970 2,348,197
CAPITAL AND RESERVES
Called up share capital 9 35,578 31,275
Share premium account 15,959,434 11,604,478
Other reserves 52,501 16,116
Profit and Loss Account (13,343,543 ) (9,303,672 )
SHAREHOLDERS' FUNDS 2,703,970 2,348,197
Page 1
Page 2
For the year ending 31 January 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
P Bredthauer
Director
12th June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Proda Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10548504 . The registered office is Arquen House, 4-6 Spicer Street, St. Albans, Hertfordshire, AL3 4PQ.
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 the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company incurred a loss during the year but had net current assets and a strong cash position at the year end. In April and May 2025, shortly after the year end, the company raised over £4.3 million in venture capital funding. Taking into account the post-year-end fundraising and the company’s financial projections, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales taxes. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Development costs are being amortised evenly over their estimated useful life of four years.
2.5. Research and Development
Research expenditure is written off against profits in the year in which it is incurred. 
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. 
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. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is provided on the following basis:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
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.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.
2.7. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
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2.8. 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 instruments.
Financial instruments are recognized in the company's statement of financial position when the company becomes party to the contractual provisions of the instruments. 
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
2.11. 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 into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the statement of comprehensive income when they fall due.
2.12. Share Based Payments
Where share options are awarded to employees, the fair value of the options is charged to the income statement over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 50 (2024: 32)
50 32
4. Intangible Assets
Website
£
Cost
As at 1 February 2024 27,050
Additions 7,000
Disposals (13,300 )
As at 31 January 2025 20,750
Amortisation
As at 1 February 2024 14,524
Provided during the period 4,708
Disposals (13,300 )
As at 31 January 2025 5,932
...CONTINUED
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Net Book Value
As at 31 January 2025 14,818
As at 1 February 2024 12,526
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2024 836 90,264 91,100
Additions 356 46,336 46,692
Disposals (836 ) (35,472 ) (36,308 )
As at 31 January 2025 356 101,128 101,484
Depreciation
As at 1 February 2024 836 50,189 51,025
Provided during the period 59 21,219 21,278
Disposals (836 ) (33,124 ) (33,960 )
As at 31 January 2025 59 38,284 38,343
Net Book Value
As at 31 January 2025 297 62,844 63,141
As at 1 February 2024 - 40,075 40,075
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 512,887 341,610
Prepayments and accrued income 106,483 123,724
Other debtors 79,200 66,753
Corporation tax recoverable assets 206,835 140,124
VAT 36,257 -
941,662 672,211
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 198,383 205,049
Other taxes and social securities 176,367 104,903
Accruals and deferred income 337,943 162,379
Directors' loan accounts - 624
712,693 472,955
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8. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The company has estimated cumulative tax losses of £10,117,081 (2024 - £7,052,400), available for carrying forward against future taxable profits. No provision for deferred tax on the losses has been recognised as it is not known exactly when the company will make profits against which to use the losses. Had a provision been made a deferred tax asset of £2,529,270 would have been recognised.
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
154,486 Ordinary Shares of £ 0.10 each 15,449 15,449
75,134 Seed Preference Shares of £ 0.10 each 7,513 7,513
83,129 Series A Shares of £ 0.10 each 8,313 8,313
43,033 Series A-1 shares of £ 0.10 each 4,303 -
35,578 31,275
43,033 Series A-1 shares of £0.10 each were allotted as fully paid at a premium of £101.32 per share during the year.
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 359,491 43,700
359,491 43,700
11. Reserves
Share premium account represents the amount by which the consideration received by the company for shares issued exceeds its nominal.
Retained earnings represents cumulative profits or losses, net of dividends paid and other adjustments.
Other reserves of £52,501 have been recognised for the cumulative share-based payment reserve.
12. Related Party Transactions
During the year the company operated loans with the directors of the company. The balance owed by the company to the directors at year end was £0 (2024: £624) This loan is interest free and payable on demand.
13. Ultimate Controlling Party
The company's ultimate controlling parties are C Williams and P Bredthauer.
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