Acorah Software Products - Accounts Production 16.4.675 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11153050 Mr. Tuhin Chakraborty Dr Raphael Holca-Lamarre Mr Eitai Tsiddon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11153050 2023-12-31 11153050 2024-12-31 11153050 2024-01-01 2024-12-31 11153050 frs-core:CurrentFinancialInstruments 2024-12-31 11153050 frs-core:Non-currentFinancialInstruments 2024-12-31 11153050 frs-core:ComputerEquipment 2024-12-31 11153050 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11153050 frs-core:ComputerEquipment 2023-12-31 11153050 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 11153050 frs-core:FurnitureFittings 2024-12-31 11153050 frs-core:FurnitureFittings 2024-01-01 2024-12-31 11153050 frs-core:FurnitureFittings 2023-12-31 11153050 frs-core:OtherResidualIntangibleAssets 2024-12-31 11153050 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 11153050 frs-core:OtherResidualIntangibleAssets 2023-12-31 11153050 frs-core:OtherReservesSubtotal 2024-12-31 11153050 frs-core:SharePremium 2024-12-31 11153050 frs-core:ShareCapital 2024-12-31 11153050 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11153050 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11153050 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11153050 frs-bus:SmallEntities 2024-01-01 2024-12-31 11153050 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11153050 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11153050 frs-bus:Director1 2024-01-01 2024-12-31 11153050 frs-bus:Director2 2024-01-01 2024-12-31 11153050 frs-bus:Director2 2023-12-31 11153050 frs-bus:Director2 2024-12-31 11153050 frs-bus:Director3 2024-01-01 2024-12-31 11153050 frs-countries:EnglandWales 2024-01-01 2024-12-31 11153050 2022-12-31 11153050 2023-12-31 11153050 2023-01-01 2023-12-31 11153050 frs-core:CurrentFinancialInstruments 2023-12-31 11153050 frs-core:Non-currentFinancialInstruments 2023-12-31 11153050 frs-core:OtherReservesSubtotal 2023-12-31 11153050 frs-core:SharePremium 2023-12-31 11153050 frs-core:ShareCapital 2023-12-31 11153050 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11153050
Mimica Automation Limited
Financial Statements
For The Year Ended 31 December 2024
Mimica Automation Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Mimica Automation Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 11153050

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 60,406 |  | 88,380
Tangible Assets | 5 |  | 50,013 |  | 8,585
|  |  | 110,419 |  | 96,965
CURRENT ASSETS
Debtors | 6 | 1,180,582 |  | 311,917 |
Cash at bank and in hand |  | 760,495 |  | 596,907 |
|  | 1,941,077 |  | 908,824 |
Creditors: Amounts Falling Due Within One Year | 7 | (2,493,760 ) |  | (929,175 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (552,683 ) |  | (20,351 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (442,264 ) |  | 76,614
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (764,479 ) |  | -
NET (LIABILITIES)/ASSETS |  |  | (1,206,743 ) |  | 76,614
CAPITAL AND RESERVES
Called up share capital | 9 |  | 134 |  | 126
Share premium account |  |  | 8,877,914 |  | 5,688,721
Other reserves |  |  | 30,885 |  | -
Profit and Loss Account |  |  | (10,115,676 ) |  | (5,612,233 )
SHAREHOLDERS' FUNDS |  |  | (1,206,743) |  | 76,614

Page 1
Page 2
Mimica Automation Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 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.
On behalf of the board

Dr Raphael Holca-Lamarre Director
16/09/2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Mimica Automation Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Mimica Automation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11153050 . The registered office is 20 St Thomas Street St. Thomas Street, London, SE1 9RS.
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
In assessing the appropriateness of the going concern basis of preparation, the directors have reviewed the Company’s financial position through to December 2025. Subsequent to the year end, the Company successfully raised additional funding of £11.5 million. On the basis of this funding and the forecasts prepared, the directors consider that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. The directors are not aware of any material uncertainties that may cast significant doubt on the Company’s ability to continue as a going concern.
2.3. 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 the rendering of services.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software development costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. 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:

Fixtures & Fittings | 20% Straight Line
Computer Equipment | 25% Straight Line

2.6. 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Convertible loans
Convertible loans are accounted for as compound financial instruments under FRS 102. On initial recognition, the fair value of the liability component is determined by discounting contractual cash flows at the prevailing market interest rate for a similar instrument without conversion. The equity component is recognised as the residual between the proceeds received and the liability component.
The liability is subsequently measured at amortised cost using the effective interest method, with interest expense recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
Page 3
Page 4
Mimica Automation Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 January 2024 | 139,870
As at 31 December 2024 | 139,870
Amortisation
As at 1 January 2024 | 51,490
Provided during the period | 27,974
As at 31 December 2024 | 79,464
Net Book Value
As at 31 December 2024 | 60,406
As at 1 January 2024 | 88,380

5. Tangible Assets

| Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | - | 14,709 | 14,709
Additions | 510 | 50,360 | 50,870
As at 31 December 2024 | 510 | 65,069 | 65,579
Depreciation
As at 1 January 2024 | - | 6,124 | 6,124
Provided during the period | 85 | 9,357 | 9,442
As at 31 December 2024 | 85 | 15,481 | 15,566
Net Book Value
As at 31 December 2024 | 425 | 49,588 | 50,013
As at 1 January 2024 | - | 8,585 | 8,585

6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 1,037,115 |  | 256,372
Other debtors | 143,467 |  | 55,545
| 1,180,582 |  | 311,917

Page 4
Page 5
Mimica Automation Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 153,057 |  | 45,951
Other creditors | 2,296,267 |  | 840,295
Taxation and social security | 44,436 |  | 42,929
| 2,493,760 |  | 929,175

8. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Other loans | 764,479 |  | -

9. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 134 |  | 126

10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 January 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2024
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr. Tuhin Chakraborty | - | 5,356 | - | - | 5,356

The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
As at 31 December 2024, the director, Mr R Holca-Lamarre, was owed £573 (2023: £573) by the company.
These loans were interest free with no set repayment terms.
12. Convertible Loans
In December 2024, the company issued a £795,365 unsecured convertible loan which is repayable on 16 March 2026, unless converted earlier. The loan is interest free.
In accordance with FRS 102, the instrument has been classified as a compound financial instrument. On initial recognition, the liability component was measured at the present value of future cash flows discounted at the market rate of 8%, being £764,480. The equity component of £30,885 was recognised in equity within Other Reserves.
The liability component is subsequently measured at amortised cost using the effective interest method. The equity component is not remeasured after initial recognition.
As at 31 December 2024, no conversion had occurred and the carrying amounts were as follows:

- Liability component: £764,480
- Equity component: £30,885

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