Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 20 August 2025 1 January 2024 31 December 2024 31 December 2024 10381083 Mr L Humphreys Mr P O Thnoia Mr P L Griffiths Mr A C Probert iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10381083 2023-12-31 10381083 2024-12-31 10381083 2024-01-01 2024-12-31 10381083 frs-core:CurrentFinancialInstruments 2024-12-31 10381083 frs-core:Non-currentFinancialInstruments 2024-12-31 10381083 frs-core:ComputerEquipment 2024-12-31 10381083 frs-core:ComputerEquipment 2024-01-01 2024-12-31 10381083 frs-core:ComputerEquipment 2023-12-31 10381083 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-12-31 10381083 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-01-01 2024-12-31 10381083 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 10381083 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 10381083 frs-core:FurnitureFittings 2024-12-31 10381083 frs-core:FurnitureFittings 2024-01-01 2024-12-31 10381083 frs-core:FurnitureFittings 2023-12-31 10381083 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 10381083 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 10381083 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 10381083 frs-core:OtherResidualIntangibleAssets 2024-12-31 10381083 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 10381083 frs-core:OtherResidualIntangibleAssets 2023-12-31 10381083 frs-core:PlantMachinery 2024-12-31 10381083 frs-core:PlantMachinery 2024-01-01 2024-12-31 10381083 frs-core:PlantMachinery 2023-12-31 10381083 frs-core:WithinOneYear 2024-12-31 10381083 frs-core:SharePremium 2024-12-31 10381083 frs-core:ShareCapital 2024-12-31 10381083 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10381083 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10381083 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10381083 frs-bus:SmallEntities 2024-01-01 2024-12-31 10381083 frs-bus:Audited 2024-01-01 2024-12-31 10381083 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10381083 frs-bus:OrdinaryShareClass2 2024-01-01 2024-12-31 10381083 frs-bus:OrdinaryShareClass2 2024-12-31 10381083 frs-bus:OrdinaryShareClass3 2024-01-01 2024-12-31 10381083 frs-bus:OrdinaryShareClass3 2024-12-31 10381083 frs-bus:OrdinaryShareClass5 2024-01-01 2024-12-31 10381083 frs-bus:OrdinaryShareClass5 2024-12-31 10381083 frs-bus:Director1 2024-01-01 2024-12-31 10381083 frs-bus:Director2 2024-01-01 2024-12-31 10381083 frs-bus:Director3 2024-01-01 2024-12-31 10381083 frs-bus:Director4 2024-01-01 2024-12-31 10381083 frs-countries:EnglandWales 2024-01-01 2024-12-31 10381083 2022-12-31 10381083 2023-12-31 10381083 2023-01-01 2023-12-31 10381083 frs-core:CurrentFinancialInstruments 2023-12-31 10381083 frs-core:Non-currentFinancialInstruments 2023-12-31 10381083 frs-core:BetweenOneFiveYears 2023-12-31 10381083 frs-core:WithinOneYear 2023-12-31 10381083 frs-core:SharePremium 2023-12-31 10381083 frs-core:ShareCapital 2023-12-31 10381083 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10381083 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 10381083 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 10381083 frs-bus:OrdinaryShareClass5 2023-01-01 2023-12-31
Registered number: 10381083
Pill Time Limited
Financial Statements
For The Year Ended 31 December 2024
HSJ Audit Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 10381083
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 597,366 859,817
Tangible Assets 5 649,275 1,087,944
1,246,641 1,947,761
CURRENT ASSETS
Stocks 6 856,252 431,480
Debtors 7 1,966,601 1,291,543
Cash at bank and in hand 687,650 625,190
3,510,503 2,348,213
Creditors: Amounts Falling Due Within One Year 8 (3,584,667 ) (3,501,722 )
NET CURRENT ASSETS (LIABILITIES) (74,164 ) (1,153,509 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,172,477 794,252
Creditors: Amounts Falling Due After More Than One Year 9 (15,379,667 ) (9,001,820 )
NET LIABILITIES (14,207,190 ) (8,207,568 )
CAPITAL AND RESERVES
Called up share capital 11 14,973 14,973
Share premium account 19,794,023 19,794,023
Profit and Loss Account (34,016,186 ) (28,016,564 )
SHAREHOLDERS' FUNDS (14,207,190) (8,207,568)
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 L Humphreys
Director
20 August 2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pill Time Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10381083 . The registered office is Unit 7 & 8 Cribbs Causeway Centre The Laurels, Cribbs Causeway, Bristol, BS10 7TT.
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
As at 31st December 2024, the company had net current liabilities of £74,164 (2023: £1,153,509), and net liabilities of £14,207,190 (2023: £8,207,568), and reported a net loss for the year of £5,999,622 (2023: £6,193,647). The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements, which indicate that, taking into account the current economic outlook, the company will have sufficient funds, through its ability to raise cash resources from current investors, to meet its liabilities as they fall due for that period.
The current investors are committed to funding the business’ losses for the foreseeable future and providing sufficient resources to cover the going concern forecast period.
In preparing the forecasts, the directors have considered reasonable possible downside scenarios including factors resulting from the current economic outlook on the pricing and demand for the company’s products as well as input cost inflation.
Based on the forecasts prepared, including reasonable possible downside scenarios and assumptions as described above, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of the approval of these financial statements. Therefore, the financial statements are prepared on a going concern basis.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities 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. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period the revision and future periods where the revisions affects both current and future periods
2.4. 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 goods have been dispatched to the customer.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are in respect of licences and computer software. These are amortised to profit and loss account over its estimated economic life of 10 years and 3 years respectively.
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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:
Leasehold 20% Straight Line
Plant & Machinery 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 33.33% Straight Line
2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 79 (2023: 71)
79 71
4. Intangible Assets
Other Intellectual Property Total
£ £ £
Cost
As at 1 January 2024 2,719,089 60,000 2,779,089
Additions 248,151 - 248,151
As at 31 December 2024 2,967,240 60,000 3,027,240
Amortisation
As at 1 January 2024 1,877,772 41,500 1,919,272
Provided during the period 504,602 6,000 510,602
As at 31 December 2024 2,382,374 47,500 2,429,874
Net Book Value
As at 31 December 2024 584,866 12,500 597,366
As at 1 January 2024 841,317 18,500 859,817
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Page 4
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 324,866 2,008,698 221,029 243,997 2,798,590
Additions - 18,134 11,582 4,940 34,656
As at 31 December 2024 324,866 2,026,832 232,611 248,937 2,833,246
Depreciation
As at 1 January 2024 189,126 1,210,100 134,035 177,385 1,710,646
Provided during the period 45,594 350,449 34,882 42,400 473,325
As at 31 December 2024 234,720 1,560,549 168,917 219,785 2,183,971
Net Book Value
As at 31 December 2024 90,146 466,283 63,694 29,152 649,275
As at 1 January 2024 135,740 798,598 86,994 66,612 1,087,944
6. Stocks
2024 2023
£ £
Stock 856,252 431,480
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 896,984 693,497
Other debtors 1,069,617 598,046
1,966,601 1,291,543
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 37,570 247,486
Trade creditors 2,132,658 2,004,268
Other creditors 1,349,657 1,176,563
Taxation and social security 64,782 73,405
3,584,667 3,501,722
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 37,570
Other loans 15,379,667 8,964,250
15,379,667 9,001,820
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 37,570 247,486
Later than one year and not later than five years - 37,570
37,570 285,056
37,570 285,056
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
99,731 Ordinary A shares of £ 0.10 each 9,973 9,973
9,056 Ordinary B shares of £ 0.10 each 906 906
40,937 Ordinary D shares of £ 0.10 each 4,094 4,094
14,973 14,973
Ordinary A have the following rights, preferences and restrictions:
Each Ordinary A share has full voting rights and rights to dividends and on a return of capital in accordance with Article 14 of the Articles of Association. 
Ordinary B have the following rights, preferences and restrictions: 
Each Ordinary B share has full voting rights and rights to dividends and on a return of capital in accordance with Article 14 of the Articles of Association. 
Ordinary C have the following rights, preferences and restrictions: 
Each Ordinary C share has no voting rights and is entitled to the first 2.9% of any dividend or distribution. Each share is entitled to a return of capital in accordance with Article 14 of the Articles of Association. 
Ordinary D have the following rights, preferences and restrictions: 
Each Ordinary D share has full voting rights and rights to dividends and on a return of capital in accordance with Article 14 of the Articles of Association.
12. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
13. Audit Information
The auditor's report on the accounts of Pill Time Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Alex Finch FCCA (Senior Statutory Auditor) for and on behalf of HSJ Audit Limited , Statutory Auditor.
HSJ Audit Limited
Severn House
Hazell Drive
Newport
NP10 8FY
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