1 September 2024 false No description of principal activity Taxfiler 2024.6 true 13570843business:PrivateLimitedCompanyLtd2024-09-012025-08-31 135708432024-08-31 135708432024-09-012025-08-31 13570843business:AuditExempt-NoAccountantsReport2024-09-012025-08-31 13570843business:FilletedAccounts2024-09-012025-08-31 135708432025-08-31 13570843business:Director12024-09-012025-08-31 13570843business:RegisteredOffice2024-09-012025-08-31 135708432024-08-31 13570843core:WithinOneYear2025-08-31 13570843core:WithinOneYear2024-08-31 13570843core:AfterOneYear2025-08-31 13570843core:AfterOneYear2024-08-31 13570843core:ShareCapitalcore:PreviouslyStatedAmount2025-08-31 13570843core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 13570843core:SharePremiumcore:PreviouslyStatedAmount2025-08-31 13570843core:SharePremiumcore:PreviouslyStatedAmount2024-08-31 13570843core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2025-08-31 13570843core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 13570843core:PreviouslyStatedAmount2025-08-31 13570843core:PreviouslyStatedAmount2024-08-31 13570843business:SmallEntities2024-09-012025-08-31 13570843countries:EnglandWales2024-09-012025-08-31 13570843core:PlantMachinery2024-09-012025-08-31 13570843core:FurnitureFittings2024-09-012025-08-31 13570843core:ComputerEquipment2024-09-012025-08-31 13570843core:PlantMachinery2024-08-31 13570843core:FurnitureFittings2024-08-31 13570843core:ComputerEquipment2024-08-31 13570843core:PlantMachinery2025-08-31 13570843core:FurnitureFittings2025-08-31 13570843core:ComputerEquipment2025-08-31 13570843business:Director112024-08-31 13570843business:Director112024-09-012025-08-31 13570843business:Director112025-08-31 13570843business:Director22024-09-012025-08-31 13570843business:Director222024-08-31 13570843business:Director222024-09-012025-08-31 13570843business:Director222025-08-31 1357084312024-09-012025-08-31 135708432023-09-012024-08-31 iso4217:GBP xbrli:pure
Company Registration No. 13570843 (England and Wales)
Dirac Software Limited Unaudited accounts for the year ended 31 August 2025
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 2025
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 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
100,669 
88,037 
Current assets
Inventories
5
521,018 
457,216 
Debtors
6
714,681 
966,718 
Cash at bank and in hand
548,739 
1,692,197 
1,784,438 
3,116,131 
Creditors: amounts falling due within one year
7
(188,732)
(138,263)
Net current assets
1,595,706 
2,977,868 
Total assets less current liabilities
1,696,375 
3,065,905 
Creditors: amounts falling due after more than one year
8
(372,319)
(643,271)
Net assets
1,324,056 
2,422,634 
Capital and reserves
Called up share capital
3 
3 
Share premium
3,503,508 
3,282,581 
Profit and loss account
(2,179,455)
(859,950)
Shareholders' funds
1,324,056 
2,422,634 
For the year ending 31 August 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 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 20 October 2025 and were signed on its behalf by
Ethan Nicholas, Horsfall Director Company Registration No. 13570843
- 4 -
Dirac Software Limited Notes to the Accounts for the year ended 31 August 2025
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, £ 37,356.31 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.
- 5 -
Dirac Software Limited Notes to the Accounts for the year ended 31 August 2025
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.
Prior period adjustment 2024
During the preparation of the financial statements for the year ended 31 August 2025, the director identified an error in the valuation of closing inventories in the prior year. Inventories at 31 August 2024 had been overstated by £46,435, due to a mis-posting in the year-end stock reconciliation. The correction of this error has been treated as a prior period adjustment in accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors. Comparative figures for the year ended 31 August 2024 have been restated as follows: Inventories: As previously stated: £485,458 Adjustment: (£46,435) As restated: £439,023 Net assets: As previously stated: £2,469,070 Adjustment: (£46,435) As restated: £2,422,634 Profit for the year: As previously stated: (£306,544) Adjustment: (£46,435) As restated: (£352,980)
Prior period adjustment 2023
During the preparation of the financial statements for the year ended 31 August 2024, the director identified an error in the valuation of closing inventories in the financial statements for the year ended 31 August 2023. Inventories at 31 August 2023 had been overstated by £372,048, resulting in the overstatement of net assets and profit for that year. The error has been corrected by way of a prior period adjustment in accordance with Section 10 of FRS 102. Comparative figures for the year ended 31 August 2024 have been restated where necessary, and the opening balance of retained earnings as at 1 September 2023 has been reduced by £372,048 to reflect the cumulative impact of the error.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
- 6 -
Dirac Software Limited Notes to the Accounts for the year ended 31 August 2025
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2024
81,008 
7,892 
2,452 
91,352 
Additions
- 
25,199 
11,961 
37,160 
At 31 August 2025
81,008 
33,091 
14,413 
128,512 
Depreciation
At 1 September 2024
952 
1,967 
396 
3,315 
Charge for the year
12,614 
9,085 
2,829 
24,528 
At 31 August 2025
13,566 
11,052 
3,225 
27,843 
Net book value
At 31 August 2025
67,442 
22,039 
11,188 
100,669 
At 31 August 2024
80,056 
5,925 
2,056 
88,037 
5
Inventories
2025 
2024 
£ 
£ 
Work in progress
32,458 
18,194 
Finished goods
488,560 
439,022 
521,018 
457,216 
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
VAT
73,851 
106,142 
Trade debtors
31,421 
195 
Amounts due from group undertakings etc.
- 
2,378 
Accrued income and prepayments
45,569 
14,834 
Other debtors
31,064 
44,954 
181,905 
168,503 
Amounts falling due after more than one year
Other debtors
532,776 
798,215 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
- 
4,928 
Trade creditors
159,921 
34,999 
Taxes and social security
26,060 
31,286 
Other creditors
251 
51,132 
Accruals
2,500 
15,918 
188,732 
138,263 
- 7 -
Dirac Software Limited Notes to the Accounts for the year ended 31 August 2025
8
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Obligations under finance leases and hire purchase contracts
372,319 
643,271 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Ethan Nicholas, Horsfall
1,962 
950 
- 
2,912 
Ruairidh Mungo Connor, Forgan
1,407 
- 
1,407 
- 
3,369 
950 
1,407 
2,912 
10
Post balance sheet events
The company has disputed certain shipping charges billed by FedEx amounting to approximately £14,300. Management considers it probable that the company will receive a refund, but as the amount is not yet virtually certain, no asset has been recognised in these financial statements. The refund is expected to be resolved in FY 2026.
11
Average number of employees
During the year the average number of employees was 12 (2024: 5).
- 8 -