Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 12373820 Mr William Simpson Mr Daniel Meese Dr James Mckenzie Mr Robert Stern Mr John Kilcoyne Mr Julian Ormerod iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12373820 2023-12-31 12373820 2024-12-31 12373820 2024-01-01 2024-12-31 12373820 frs-core:CurrentFinancialInstruments 2024-12-31 12373820 frs-core:ComputerEquipment 2024-12-31 12373820 frs-core:ComputerEquipment 2024-01-01 2024-12-31 12373820 frs-core:ComputerEquipment 2023-12-31 12373820 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 12373820 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 12373820 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 12373820 frs-core:PlantMachinery 2024-12-31 12373820 frs-core:PlantMachinery 2024-01-01 2024-12-31 12373820 frs-core:PlantMachinery 2023-12-31 12373820 frs-core:SharePremium 2024-12-31 12373820 frs-core:ShareCapital 2024-12-31 12373820 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12373820 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12373820 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12373820 frs-bus:SmallEntities 2024-01-01 2024-12-31 12373820 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12373820 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12373820 frs-bus:Director1 2024-01-01 2024-12-31 12373820 frs-bus:Director2 2024-01-01 2024-12-31 12373820 frs-bus:Director3 2024-01-01 2024-12-31 12373820 frs-bus:Director4 2024-01-01 2024-12-31 12373820 frs-bus:Director5 2024-01-01 2024-12-31 12373820 frs-bus:Director6 2024-01-01 2024-12-31 12373820 frs-countries:EnglandWales 2024-01-01 2024-12-31 12373820 2022-12-31 12373820 2023-12-31 12373820 2023-01-01 2023-12-31 12373820 frs-core:CurrentFinancialInstruments 2023-12-31 12373820 frs-core:SharePremium 2023-12-31 12373820 frs-core:ShareCapital 2023-12-31 12373820 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 12373820
Ventripace Medical Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Ventripace Medical Ltd
Contents
Contents

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

Page 1
Ventripace Medical Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 12373820

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 83,009 |  | 103,661
Tangible Assets | 5 |  | 4,444 |  | 2,203
|  |  | 87,453 |  | 105,864
CURRENT ASSETS
Debtors | 6 | 649 |  | 45,477 |
Cash at bank and in hand |  | 19,916 |  | 48,887 |
|  | 20,565 |  | 94,364 |
Creditors: Amounts Falling Due Within One Year | 7 | (3,423 ) |  | (3,382 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 17,142 |  | 90,982
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 104,595 |  | 196,846
NET ASSETS |  |  | 104,595 |  | 196,846
CAPITAL AND RESERVES
Called up share capital | 8 |  | 18 |  | 18
Share premium account |  |  | 560,000 |  | 560,000
Profit and Loss Account |  |  | (455,423 ) |  | (363,172 )
SHAREHOLDERS' FUNDS |  |  | 104,595 |  | 196,846

Page 1
Page 2
Ventripace Medical Ltd
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

Mr William Simpson Director
16 September 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Ventripace Medical Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Ventripace Medical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12373820 . The registered office is Bee House, 140 Eastern Avenue, Milton Park, Oxfordshire.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
These financial statements are presented in pound sterling which is the functional currency of the company.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about 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 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are development costs. They are amortised to profit and loss account over their estimated economic life of five years.
2.5. Research and Development
Expenditure on research and development has been capitalised as an intangible asset and amortised over its economic life of five years.
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 | 25% Reducing Balance
Computer Equipment | 25% reducing balance

2.7. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Ventripace Medical Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.8. 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. 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.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was as follows: 4 (2023: 2)
4 2
4. Intangible Assets

| Development Costs
--- | ---
| £
Cost
As at 1 January 2024 | 156,951
Additions | 12,294
As at 31 December 2024 | 169,245
Amortisation
As at 1 January 2024 | 53,290
Provided during the period | 32,946
As at 31 December 2024 | 86,236
Net Book Value
As at 31 December 2024 | 83,009
As at 1 January 2024 | 103,661

Page 4
Page 5
Ventripace Medical Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Tangible Assets

| Plant & Machinery | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | - | 3,646 | 3,646
Additions | 3,381 | - | 3,381
As at 31 December 2024 | 3,381 | 3,646 | 7,027
Depreciation
As at 1 January 2024 | - | 1,443 | 1,443
Provided during the period | 589 | 551 | 1,140
As at 31 December 2024 | 589 | 1,994 | 2,583
Net Book Value
As at 31 December 2024 | 2,792 | 1,652 | 4,444
As at 1 January 2024 | - | 2,203 | 2,203

6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Prepayments and accrued income | 418 |  | -
Other debtors | 231 |  | 45,477
| 649 |  | 45,477

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 95 |  | 1
Other creditors | 808 |  | 1,006
Accruals and deferred income | 2,520 |  | 2,375
| 3,423 |  | 3,382

8. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 18 |  | 18

9. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £200 (2023 - £394) were due to the fund. They are included in Other Creditors.
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