Acorah Software Products - Accounts Production 16.5.460 false true true 30 June 2024 1 July 2023 false 1 July 2024 30 June 2025 30 June 2025 11415741 Thomas Llewellyn-Jones Stephen Kitson Kero Limited Simon Bates Michael Dicker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11415741 2024-06-30 11415741 2025-06-30 11415741 2024-07-01 2025-06-30 11415741 frs-core:CurrentFinancialInstruments 2025-06-30 11415741 frs-core:BetweenOneFiveYears 2025-06-30 11415741 frs-core:ComputerEquipment 2025-06-30 11415741 frs-core:ComputerEquipment 2024-07-01 2025-06-30 11415741 frs-core:ComputerEquipment 2024-06-30 11415741 frs-core:FurnitureFittings 2025-06-30 11415741 frs-core:FurnitureFittings 2024-07-01 2025-06-30 11415741 frs-core:FurnitureFittings 2024-06-30 11415741 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-06-30 11415741 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-01 2025-06-30 11415741 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 11415741 frs-core:MotorVehicles 2025-06-30 11415741 frs-core:MotorVehicles 2024-07-01 2025-06-30 11415741 frs-core:MotorVehicles 2024-06-30 11415741 frs-core:PlantMachinery 2025-06-30 11415741 frs-core:PlantMachinery 2024-07-01 2025-06-30 11415741 frs-core:PlantMachinery 2024-06-30 11415741 frs-core:WithinOneYear 2025-06-30 11415741 frs-core:SharePremium 2025-06-30 11415741 frs-core:ShareCapital 2025-06-30 11415741 frs-core:RetainedEarningsAccumulatedLosses 2025-06-30 11415741 frs-bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 11415741 frs-bus:FilletedAccounts 2024-07-01 2025-06-30 11415741 frs-bus:SmallEntities 2024-07-01 2025-06-30 11415741 frs-bus:AuditExempt-NoAccountantsReport 2024-07-01 2025-06-30 11415741 frs-bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 11415741 frs-bus:OrdinaryShareClass1 2024-07-01 2025-06-30 11415741 frs-bus:OrdinaryShareClass1 2025-06-30 11415741 frs-bus:OrdinaryShareClass2 2024-07-01 2025-06-30 11415741 frs-bus:OrdinaryShareClass2 2025-06-30 11415741 frs-bus:Director1 2024-07-01 2025-06-30 11415741 frs-bus:Director2 2024-07-01 2025-06-30 11415741 frs-bus:Director3 2024-07-01 2025-06-30 11415741 frs-bus:Director4 2024-07-01 2025-06-30 11415741 frs-bus:Director5 2024-07-01 2025-06-30 11415741 frs-countries:EnglandWales 2024-07-01 2025-06-30 11415741 2023-06-30 11415741 2024-06-30 11415741 2023-07-01 2024-06-30 11415741 frs-core:CurrentFinancialInstruments 2024-06-30 11415741 frs-core:BetweenOneFiveYears 2024-06-30 11415741 frs-core:WithinOneYear 2024-06-30 11415741 frs-core:SharePremium 2024-06-30 11415741 frs-core:ShareCapital 2024-06-30 11415741 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 11415741 frs-bus:OrdinaryShareClass1 2023-07-01 2024-06-30 11415741 frs-bus:OrdinaryShareClass2 2023-07-01 2024-06-30
Registered number: 11415741
Actuation Lab Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2025
Actuation Lab Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Actuation Lab Ltd
Balance Sheet
As At 30 June 2025
Balance Sheet
Registered number: 11415741

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 104,230 |  | 131,650
|  |  | 104,230 |  | 131,650
CURRENT ASSETS
Debtors | 5 | 299,715 |  | 843,091 |
Cash at bank and in hand |  | 601,414 |  | 211,988 |
|  | 901,129 |  | 1,055,079 |
Creditors: Amounts Falling Due Within One Year | 6 | (150,336 ) |  | (313,055 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 750,793 |  | 742,024
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 855,023 |  | 873,674
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (2,599 ) |  | -
NET ASSETS |  |  | 852,424 |  | 873,674
CAPITAL AND RESERVES
Called up share capital | 7 |  | 6 |  | 5
Share premium account |  |  | 1,610,446 |  | 1,360,435
Profit and Loss Account |  |  | (758,028 ) |  | (486,766 )
SHAREHOLDERS' FUNDS |  |  | 852,424 |  | 873,674

Page 1
Page 2
Actuation Lab Ltd
Balance Sheet (continued)
As At 30 June 2025
For the year ending 30 June 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

Simon Bates Director
26/09/2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Actuation Lab Ltd
Notes to the Financial Statements
For The Year Ended 30 June 2025
Notes to the Financial Statements
1. General Information
Actuation Lab Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11415741 . The registered office is Unit 3a Princess Street, Bedminster, Bristol, BS3 4AG.
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
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. 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 Improvements | Straight line over 3 years
Plant & Machinery | Straight line over 3 - 10 years
Bicycles | Straight line over 1 - 1.5 years
Fixtures & Fittings | Straight line over 5 - 10 years
Computer Equipment | Straight line over 3 - 5 years

2.4. 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.
2.5. 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.
2.6. 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.
Page 3
Page 4
Actuation Lab Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
2.7. 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.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.8. Research and Development Costs
Research and development costs are written off to profit or loss in the year incurred.
2.9. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the company. The fair value of the services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The fair value of the option granted is calculated using the Black Scholes pricing model. The total amount expensed is recognised to profit and loss, with a corresponding increase in share option reserve, over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. The proceeds received net of any directly attributable transaction costs are credited to share capital and share premium when the options are exercised.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2024: 19)
18 19
4. Tangible Assets

| Land & Property
--- | ---
| Leasehold Improvements | Plant & Machinery | Bicycles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 July 2024 | 42,566 | 84,754 | 3,656 | 16,967
Additions | 4,110 | 19,891 | 1,457 | 3,618
Disposals | - | - | (3,836 ) | -
As at 30 June 2025 | 46,676 | 104,645 | 1,277 | 20,585
Depreciation
As at 1 July 2024 | 9,939 | 15,440 | 830 | 2,259
Provided during the period | 15,558 | 26,434 | 3,331 | 5,120
Disposals | - | - | (3,026 ) | -
As at 30 June 2025 | 25,497 | 41,874 | 1,135 | 7,379
Net Book Value
As at 30 June 2025 | 21,179 | 62,771 | 142 | 13,206
As at 1 July 2024 | 32,627 | 69,314 | 2,826 | 14,708

Page 4
Page 5
Actuation Lab Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 July 2024 | 20,208 | 168,151
Additions | 1,726 | 30,802
Disposals | (748 ) | (4,584 )
As at 30 June 2025 | 21,186 | 194,369
Depreciation
As at 1 July 2024 | 8,033 | 36,501
Provided during the period | 6,719 | 57,162
Disposals | (498 ) | (3,524 )
As at 30 June 2025 | 14,254 | 90,139
Net Book Value
As at 30 June 2025 | 6,932 | 104,230
As at 1 July 2024 | 12,175 | 131,650

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | - |  | 253,418
Other debtors | 299,715 |  | 589,673
| 299,715 |  | 843,091

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 31,355 |  | 49,347
Bank loans and overdrafts | - |  | 149,658
Other creditors | 76,473 |  | 95,664
Taxation and social security | 42,508 |  | 18,386
| 150,336 |  | 313,055

7. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
455,078 Ordinary Shares of £ 0.00001 each | 5 |  | 5
118,285 Ordinary A shares of £ 0.00001 each | 1 |  | -
| 6 |  | 5

During the year 16,267 Ordinary shares with an aggregate nominal value of 6p were issued for a total consideration of £50,006 and 26,431 Ordinary A shares with an aggregate nominal value of 26p were issued for a total consideration of £208,013.
On 10th June 2025, 91,874 Ordinary shares were reclassified as Ordinary A shares.
Page 5
Page 6
Actuation Lab Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
8. Other Commitments
The company has operating leases relating to office and equipment rental. The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 103,219 |  | 162,530
Later than one year and not later than five years | 48,343 |  | 151,074
| 151,562 |  | 313,604

9. Post Balance Sheet Events
Since the year end the company has issued a total of 8,864 shares for a total consideration of £69,760.
10. Share based payments
Approved share scheme
Certain employees have been granted options over unissued share capital of the company. The options expire ten years after the grant date.
The movements in the number of share options during the year were as follows:
Outstanding at beginning of year: 764 (2024: nil)
Granted during the year: 6,837 (2024: 1,769)
Lapsed during the year: 5,221 (2024: 1,005)
Outstanding at end of year: 2,380 (2024: 764)
The weighted average exercise price of share options issued and lapsed during the year was £1.12000 (2024: £0.00001). The weighted average exercise price of all share options at the year end was £0.76053 (2024: £0.00001).
Unapproved share scheme
Certain officers have been granted options over unissued share capital of the company. The options expire ten years after the grant date.
The movements in the number of share options during the year were as follows:
Outstanding at beginning of year: nil (2024: nil)
Granted during the year: 1,256 (2024: nil)
Lapsed during the year: nil (2024: nil)
Outstanding at end of year: 1,256 (2024: nil)
The weighted average exercise price of share options issued during the year was £1.12 (2024: N/A). The weighted average exercise price of all share options at the year end was £1.12 (2024: N/A).
Warrants
Certain shareholders have warrants conferring the right to subscribe for additional ordinary shares in the company.
The movement in the number of warrants during the year was as follows:
Outstanding at beginning of year: 1,706 (2024: 1,706)
Issued during the year: nil (2024: nil)
Outstanding and exercisable at end of year: 1,706 (2024: 1,706)
The weighted average exercise price of share warrants in issue at the start and end of the year was £4.24 (2024: £4.24).
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