Acorah Software Products - Accounts Production 16.3.350 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 13554402 Mr Michael Patterson Mr Oliver Robinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13554402 2024-01-31 13554402 2025-01-31 13554402 2024-02-01 2025-01-31 13554402 frs-core:CurrentFinancialInstruments 2025-01-31 13554402 frs-core:ComputerEquipment 2025-01-31 13554402 frs-core:ComputerEquipment 2024-02-01 2025-01-31 13554402 frs-core:ComputerEquipment 2024-01-31 13554402 frs-core:FurnitureFittings 2025-01-31 13554402 frs-core:FurnitureFittings 2024-02-01 2025-01-31 13554402 frs-core:FurnitureFittings 2024-01-31 13554402 frs-core:PlantMachinery 2025-01-31 13554402 frs-core:PlantMachinery 2024-02-01 2025-01-31 13554402 frs-core:PlantMachinery 2024-01-31 13554402 frs-core:OtherReservesSubtotal 2025-01-31 13554402 frs-core:SharePremium 2025-01-31 13554402 frs-core:ShareCapital 2025-01-31 13554402 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 13554402 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 13554402 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 13554402 frs-bus:SmallEntities 2024-02-01 2025-01-31 13554402 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 13554402 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 13554402 frs-core:CostValuation 2024-01-31 13554402 frs-core:CostValuation 2025-01-31 13554402 frs-core:ProvisionsForImpairmentInvestments 2024-01-31 13554402 frs-core:ProvisionsForImpairmentInvestments 2025-01-31 13554402 frs-bus:Director1 2024-02-01 2025-01-31 13554402 frs-bus:Director2 2024-02-01 2025-01-31 13554402 frs-countries:EnglandWales 2024-02-01 2025-01-31 13554402 2023-01-31 13554402 2024-01-31 13554402 2023-02-01 2024-01-31 13554402 frs-core:CurrentFinancialInstruments 2024-01-31 13554402 frs-core:OtherReservesSubtotal 2024-01-31 13554402 frs-core:SharePremium 2024-01-31 13554402 frs-core:ShareCapital 2024-01-31 13554402 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 13554402
Elemental Energy Technologies Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Venn Accounts
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13554402
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 269,859 557,457
Investments 5 51 51
269,910 557,508
CURRENT ASSETS
Stocks 6 480,248 57,809
Debtors 7 370,438 55,837
Cash at bank and in hand 824,456 388,774
1,675,142 502,420
Creditors: Amounts Falling Due Within One Year 8 (239,958 ) (1,056,409 )
NET CURRENT ASSETS (LIABILITIES) 1,435,184 (553,989 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,705,094 3,519
NET ASSETS 1,705,094 3,519
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 2,171,988 1,511,976
Other reserves 171,670 135,943
Profit and Loss Account (638,565 ) (1,644,401 )
SHAREHOLDERS' FUNDS 1,705,094 3,519
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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
Mr Michael Patterson
Director
14/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Elemental Energy Technologies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13554402 . The registered office is Unit 8, Kington Farm Draycott Lane, Kington St. Michael, Chippenham, SN14 6DH.
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. 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.
2.3. 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 20% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 20% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value. 
2.5. Foreign Currencies
The financial statements are presented in Sterling, which is also the functional currency of the company. Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 years 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 4)
6 4
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 700,433 2,481 4,317 707,231
Additions 10,911 17,890 3,104 31,905
Disposals (319,395 ) - - (319,395 )
As at 31 January 2025 391,949 20,371 7,421 419,741
Depreciation
As at 1 February 2024 148,012 647 1,115 149,774
Provided during the period 74,958 2,186 907 78,051
Disposals (77,943 ) - - (77,943 )
As at 31 January 2025 145,027 2,833 2,022 149,882
Net Book Value
As at 31 January 2025 246,922 17,538 5,399 269,859
As at 1 February 2024 552,421 1,834 3,202 557,457
5. Investments
Subsidiaries
£
Cost
As at 1 February 2024 51
As at 31 January 2025 51
Provision
As at 1 February 2024 -
As at 31 January 2025 -
Net Book Value
As at 31 January 2025 51
As at 1 February 2024 51
Elemental Energy Systems (Pty) Ltd is the wholly-owned subsidiary registered in South Africa. Investments in subsidiaries are held at cost less impairment. 
6. Stocks
2025 2024
as restated
£ £
Work in progress 480,248 57,809
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7. Debtors
2025 2024
as restated
£ £
Due within one year
Trade debtors 331,114 -
Amounts owed by group undertakings 19,826 28,598
Other debtors 19,498 27,239
370,438 55,837
8. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Trade creditors 132,521 72,550
Other creditors 91,811 982,818
Taxation and social security 15,626 1,041
239,958 1,056,409
9. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 1 1
10. Share Based payments
Share based arrangements existed during the period.
The company has 80,000 options granted and vesting at the period end date to be settled via equity. All options start to vest after the employee has completed 1 year of service for a period of 3 years (4 years in total). Options can be exercised after the 4 year period. 
21,660 options (2023: 20,416) vested during the period.
Details of movement in the number of options:
(i) outstanding at the beginning of the period; 80,000
(ii) granted during the period; 0
(iii) forfeited during the period; 0
(iv) exercised during the period; 0
(v) expired during the period; 0
(vi) outstanding at the end of the period; 80,000
(vi) exercisable at the period end date: 42,076
Management has determined the fair value of the equity instruments based on the most recent transaction in the entity's shares. An expense of £88,373 (2023: £83,297) has been recognised during the period, representing the fair value of the share-based awards vested during the accounting period.
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11. Transition to FRS 102
The company has transitioned to report under FRS 102 (1A), previously reporting under FRS 105.
Under the requirements of FRS 102 (Section 26), the company is now required to recognise the fair value of share options granted to employees as an expense over the vesting period, with a corresponding increase in equity. The company recognises the expense associated with the grant of equity-settled share options in the profit and loss account over the vesting period of the options, based on the fair value of the options at the grant date.
The adoption of the requirements of FRS 102 this change has resulted in the recognition of a share option expense in the financial statements for the year ended 31 January 2025. The prior year (2024) has been restated to present comparative information.
The impact of this change in policy on the company’s equity is £nil as at 31 January 2024. The impact on the company’s profit or loss for the year ended 31 January 2024 is an increased loss of £83,297, resulting in loss for the year to 31 January 2024 £981,216.
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