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Registered number: 08947614
T. Holbrook & Co Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08947614
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 21,069 4,780
Tangible Assets 5 14,767 11,253
35,836 16,033
CURRENT ASSETS
Stocks 6 516,509 758,871
Debtors 7 113,405 93,208
Cash at bank and in hand 168,127 156,559
798,041 1,008,638
Creditors: Amounts Falling Due Within One Year 8 (992,021 ) (598,819 )
NET CURRENT ASSETS (LIABILITIES) (193,980 ) 409,819
TOTAL ASSETS LESS CURRENT LIABILITIES (158,144 ) 425,852
Creditors: Amounts Falling Due After More Than One Year 9 (453 ) (2,359 )
NET (LIABILITIES)/ASSETS (158,597 ) 423,493
CAPITAL AND RESERVES
Called up share capital 11 557 557
Share premium account 2,067,141 2,067,141
Share options reserves 759,290 558,927
Profit and Loss Account (2,985,585 ) (2,203,132 )
SHAREHOLDERS' FUNDS (158,597) 423,493
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For the year ending 30 June 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 25 June 2025 and were signed on its behalf by:
Mr Timothy Soar
Director
25 June 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
T. Holbrook & Co Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 08947614 . The registered office is 107 Clifton Street, London, EC2A 4LG.
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 there 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. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are trademarks. They are amortised to the profit and loss account over its estimated economic life of 10 years on a straight line basis once the trademark application has been approved.
2.6. 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 4 years on a straight line basis
Fixtures & Fittings 3 years on a straight line basis
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.

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2.7. 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 an an integral part of the total lease expenses.

2.8. Stocks and Work in Progress
Stocks is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.9. 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.
2.10. 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.
2.11. Taxation
Income tax expense represents the sum of the tax currently payable.
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 year 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.
Current tax for the year is recognised in profit or loss.
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2.12. 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.
2.13. Share Based Payments
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 11 (2023: 10)
11 10
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 July 2023 4,780
Additions 16,289
As at 30 June 2024 21,069
Net Book Value
As at 30 June 2024 21,069
As at 1 July 2023 4,780
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 21,635 8,804 16,247 46,686
Additions - 5,194 5,412 10,606
Disposals (21,635 ) - (6,835 ) (28,470 )
As at 30 June 2024 - 13,998 14,824 28,822
Depreciation
As at 1 July 2023 21,635 4,272 9,526 35,433
Provided during the period - 3,408 3,684 7,092
Disposals (21,635 ) - (6,835 ) (28,470 )
As at 30 June 2024 - 7,680 6,375 14,055
Net Book Value
As at 30 June 2024 - 6,318 8,449 14,767
As at 1 July 2023 - 4,532 6,721 11,253
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6. Stocks
2024 2023
£ £
Stock 516,509 758,871
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,632 39,234
Other debtors 54,773 53,974
113,405 93,208
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,357 2,985
Trade creditors 253,750 225,346
Bank loans and overdrafts - 85,000
Other creditors 568,238 147,544
Taxation and social security 165,676 137,944
992,021 598,819
Included in other creditors are outstanding pension contributions of £4,819 (2023: £2,288)
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 453 2,359
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,998 3,303
Later than one year and not later than five years 520 2,597
5,518 5,900
Less: Finance charges allocated to future periods 708 556
4,810 5,344
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 557 557
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 88,400 88,400
Later than one year and not later than five years 14,733 58,933
103,133 147,333
13. Post Balance Sheet Events
After the year-end, on 9 January and 18 March 2025, the company raised a total of £242,963 through the allotment of 15,007 Ordinary shares.
Additionally, on 28 May 2025, 8,000 Ordinary shares were allotted in exchange for the conversion of a loan and accrued interest totaling £129,520.
14. Related Party Transactions
Included within Other creditors are monies owed to a director amounting to £135,224 (2023: £129,401). The loan is repayable upon demand and interest is charged at a rate of 4.5% per annum.
15. 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 agreed by The Board. The options expire ten years after the date of the grant. Employees are not entitled to dividends until the shares are exercised. 
A reconciliation of share option movements during the year ended 30 June 2024 is shown below:
Number of options - weighted average exercise price
Outstanding as at 1 July 2023: 101,545 - £327,426
Granted during the year: nil - £nil
Forfeited during the year: nil - £nil
Exercised during the year: nil - £nil
Outstanding as at 30 June 2024: 101,545 - £327,426
The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share option schemes similar to that of the company.
Equity settled schemes - charges arising: £200,363 (2023: £511,305)
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