Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 February 2023 false 1 January 2024 31 December 2024 31 December 2024 11795698 Ms Line Gauteplass Dr Felipe Iza Perez Dr Roshna Mistry Mr Ralph Weir Mr Glen Clark iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11795698 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2024-12-31 11795698 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2024-12-31 11795698 2023-12-31 11795698 2024-12-31 11795698 2024-01-01 2024-12-31 11795698 frs-core:CurrentFinancialInstruments 2024-12-31 11795698 frs-core:Non-currentFinancialInstruments 2024-12-31 11795698 frs-core:BetweenOneFiveYears 2024-12-31 11795698 frs-core:ComputerEquipment 2024-12-31 11795698 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11795698 frs-core:ComputerEquipment 2023-12-31 11795698 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 11795698 frs-core:OtherResidualIntangibleAssets 2024-12-31 11795698 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 11795698 frs-core:OtherResidualIntangibleAssets 2023-12-31 11795698 frs-core:PlantMachinery 2024-12-31 11795698 frs-core:PlantMachinery 2024-01-01 2024-12-31 11795698 frs-core:PlantMachinery 2023-12-31 11795698 frs-core:WithinOneYear 2024-12-31 11795698 frs-core:OtherReservesSubtotal 2024-12-31 11795698 frs-core:SharePremium 2024-12-31 11795698 frs-core:ShareCapital 2024-12-31 11795698 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11795698 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11795698 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11795698 frs-bus:SmallEntities 2024-01-01 2024-12-31 11795698 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11795698 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11795698 frs-bus:Director1 2024-01-01 2024-12-31 11795698 frs-bus:Director2 2024-01-01 2024-12-31 11795698 frs-bus:Director3 2024-01-01 2024-12-31 11795698 frs-bus:Director4 2024-01-01 2024-12-31 11795698 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 11795698 frs-countries:EnglandWales 2024-01-01 2024-12-31 11795698 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-12-31 11795698 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-12-31 11795698 2023-01-31 11795698 2023-12-31 11795698 2023-02-01 2023-12-31 11795698 frs-core:CurrentFinancialInstruments 2023-12-31 11795698 frs-core:Non-currentFinancialInstruments 2023-12-31 11795698 frs-core:BetweenOneFiveYears 2023-12-31 11795698 frs-core:WithinOneYear 2023-12-31 11795698 frs-core:OtherReservesSubtotal 2023-12-31 11795698 frs-core:SharePremium 2023-12-31 11795698 frs-core:ShareCapital 2023-12-31 11795698 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11795698
Zayndu Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Zayndu Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
Zayndu Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 11795698

| 31 December 2024 | 31 December 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 35,380 |  | 37,474
Tangible Assets | 5 |  | 7,478 |  | 14,585
|  |  | 42,858 |  | 52,059
CURRENT ASSETS
Stocks | 6 | 221,875 |  | - |
Debtors | 7 | 330,114 |  | 71,575 |
Cash at bank and in hand |  | 412,063 |  | 1,717,286 |
|  | 964,052 |  | 1,788,861 |
Creditors: Amounts Falling Due Within One Year | 8 | (310,168 ) |  | (243,771 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 653,884 |  | 1,545,090
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 696,742 |  | 1,597,149
Creditors: Amounts Falling Due After More Than One Year |  |  | (720,889 ) |  | (814,227 )
NET (LIABILITIES)/ASSETS |  |  | (24,147 ) |  | 782,922
CAPITAL AND RESERVES
Called up share capital | 10 |  | 338 |  | 321
Share premium account |  |  | 3,596,792 |  | 3,245,104
Other reserves |  |  | 261,811 |  | -
Profit and Loss Account |  |  | (3,883,088 ) |  | (2,462,503 )
SHAREHOLDERS' FUNDS |  |  | (24,147) |  | 782,922

Page 1
Page 2
Zayndu 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 Ralph Weir Director
7 November 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Zayndu Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Zayndu Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11795698 . The registered office is Atic, Oakwood Drive, Loughborough, LE11 3QF.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Disclosure of long or short period
The previous financial period was shortened from 31 January 2024 to 31 December 2023 therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
2.2. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets represents patent costs. They are amortised to the profit and loss account over its estimated economic life of 20 years.
2.4. 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% Straight line basis
Computer Equipment | 33% Straight line basis

2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
Page 3
Page 4
Zayndu Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.8. 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 profit / loss before taxation.
2.9. Taxation
Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
2.10. 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.
2.11. Research and Development
In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
2.12. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee 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 estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised 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 (nominal value) and share premium when the options are exercised.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 12)
18 12
4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 January 2024 | 41,878
As at 31 December 2024 | 41,878
Amortisation
As at 1 January 2024 | 4,404
Provided during the period | 2,094
As at 31 December 2024 | 6,498
Net Book Value
As at 31 December 2024 | 35,380
As at 1 January 2024 | 37,474

Page 4
Page 5
Zayndu 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 | 30,411 | 5,979 | 36,390
Additions | - | 2,091 | 2,091
As at 31 December 2024 | 30,411 | 8,070 | 38,481
Depreciation
As at 1 January 2024 | 18,020 | 3,785 | 21,805
Provided during the period | 7,467 | 1,731 | 9,198
As at 31 December 2024 | 25,487 | 5,516 | 31,003
Net Book Value
As at 31 December 2024 | 4,924 | 2,554 | 7,478
As at 1 January 2024 | 12,391 | 2,194 | 14,585

6. Stocks

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Stock | 221,875 |  | -

7. Debtors

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 46,260 |  | -
Prepayments and accrued income | 144,900 |  | 19,166
Other debtors | 1,027 |  | -
Corporation tax recoverable assets | 122,066 |  | -
VAT | 15,861 |  | 52,409
| 330,114 |  | 71,575

8. Creditors: Amounts Falling Due Within One Year

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 46,573 |  | 148,748
Bank loans and overdrafts | 6,024 |  | 9,600
Other loans | 173,919 |  | 26,250
Other taxes and social security | 41,441 |  | 53,317
Other creditors | 8,072 |  | 4,556
Accruals and deferred income | 34,139 |  | 1,300
| 310,168 |  | 243,771

Page 5
Page 6
Zayndu Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
9. Loans
An analysis of the maturity of loans is given below:

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Amounts falling due within one year or on demand:
Bank loans | 6,024 |  | 9,600
Other loans | 173,919 |  | 26,250
| 179,943 |  | 35,850

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Amounts falling due between one and five years:
Bank loans | 26,606 |  | 29,055
Other loans | 694,283 |  | 785,172
| 720,889 |  | 814,227

Within other loans there is a loan from Innovate UK of £756,190 (2023: £700,922) and a loan from Loughborough University of £112,012 (2023: £110,500).
The Innovate UK loan is repayable from March 2023. The repayments are to be made quarterly for 20 quarters. The interest on this loan is 3.7% until December 2022. From January 2023 it increases to 7.4%. This loan has a fixed and floating charge over the company, including intellectual property. The balance of £173,919 (2023: £26,250) is due within one year and £582,271 (2023: £674,672) is due in 2-5 years.
The loan from Loughborough University was taken on 12th August 2019. This may be repaid at any time at the discretion of the directors. However, all or part of the loan is repayable upon receipt of a written demand from the lender. This may be served at any time following the accounts showing a positive distributable balance. The first 3 years of this loan are interest free and then it increases to 1.5%. This is due for payment in over 5 years.
The bank loan represents a bounce back loan from Santander of £48,000 taken on the 20th May 2020. The balance of £6,024 (2023: £9,600) is due within one year and £26,606 (2023: £29,055) is due in 2 - 5 years.
10. Share Capital

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 338 |  | 321

On 5 April 2024 251,328 new Ordinary B shares were issued at a price of £0.222816 per share.
On 25th June 2024 1,327,120 new Ordinary B shares were issued at a price of £0.222816 per share.
On 25th June 2024 158,277 new Ordinary B shares were issued at a price of £0.00001 per share.
Each share has a nominal value of £0.00001.
Page 6
Page 7
Zayndu Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Not later than one year | 100,615 |  | 98,828
Later than one year and not later than five years | 58,692 |  | 159,307
| 159,307 |  | 258,135

Page 7