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Company Registration No. 13570843 (England and Wales)
Dirac Software Limited Unaudited accounts for the year ended 31 August 2024
Dirac Software Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Dirac Software Limited Company Information for the year ended 31 August 2024
Director
Ethan Nicholas, Horsfall
Company Number
13570843 (England and Wales)
Registered Office
Unit 16-18 Acton Park Estate The Vale London London W3 7QE England
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
- 3 -
Dirac Software Limited Statement of financial position as at 31 August 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
88,037
4,414
Current assets
Inventories
5
503,652
78,685
Debtors
6
966,718
41,676
Cash at bank and in hand
1,692,197
54,434
3,162,567
174,795
Creditors: amounts falling due within one year
7
(138,263)
(17,417)
Net current assets
3,024,304
157,378
Total assets less current liabilities
3,112,341
161,792
Creditors: amounts falling due after more than one year
8
(643,271)
(166,333)
Net assets/(liabilities)
2,469,070
(4,541)
Capital and reserves
Called up share capital
3
383,431
Share premium
3,282,581
122,000
Profit and loss account
(813,514)
(509,972)
Shareholders' funds
2,469,070
(4,541)
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 September 2025 and were signed on its behalf by
Ethan Nicholas, Horsfall Director Company Registration No. 13570843
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Dirac Software Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Dirac Software Limited is a private company, limited by shares, registered in England and Wales, registration number 13570843. The registered office is Unit 16-18, Acton Park Estate, The Vale, London, London, W3 7QE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Fixtures & fittings
33.33%
Computer equipment
33.33%
Investments
The company holds funds in a money market instrument through Wise, and as of year-end, £7,376.43 of accrued income was recognised as receivable based on Wise-provided investment reporting.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Dirac Software Limited Notes to the Accounts for the year ended 31 August 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
-
4,240
363
4,603
Additions
81,008
3,652
2,089
86,749
At 31 August 2024
81,008
7,892
2,452
91,352
Depreciation
At 1 September 2023
-
118
71
189
Charge for the year
952
1,849
325
3,126
At 31 August 2024
952
1,967
396
3,315
Net book value
At 31 August 2024
80,056
5,925
2,056
88,037
At 31 August 2023
-
4,122
292
4,414
5
Inventories
2024
2023
£
£
Work in progress
18,194
78,685
Finished goods
485,458
-
503,652
78,685
6
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
106,142
-
Trade debtors
195
-
Amounts due from group undertakings etc.
2,378
-
Accrued income and prepayments
14,834
-
Other debtors
44,954
41,676
168,503
41,676
Amounts falling due after more than one year
Other debtors
798,215
-
- 6 -
Dirac Software Limited Notes to the Accounts for the year ended 31 August 2024
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,928
-
Trade creditors
34,999
-
Taxes and social security
31,286
-
Other creditors
51,132
17,417
Accruals
15,918
-
138,263
17,417
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
-
166,333
Obligations under finance leases and hire purchase contracts
643,271
-
643,271
166,333
9
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Ethan Nicholas, Horsfall
-
1,962
-
1,962
Ruairidh Mungo Connor, Forgan
-
1,407
-
1,407
-
3,369
-
3,369
10
Average number of employees
During the year the average number of employees was 5 (2023: 2).
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