Acorah Software Products - Accounts Production 16.8.310 false true true 31 October 2024 1 November 2023 false 1 November 2024 31 October 2025 31 October 2025 12256780 Mr Daniel Silvertown Mr Benjamin Silvertown Mr Jacob Andreou Mr Jeroen Arts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12256780 2024-10-31 12256780 2025-10-31 12256780 2024-11-01 2025-10-31 12256780 frs-core:CurrentFinancialInstruments 2025-10-31 12256780 frs-core:ComputerEquipment 2025-10-31 12256780 frs-core:ComputerEquipment 2024-11-01 2025-10-31 12256780 frs-core:ComputerEquipment 2024-10-31 12256780 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-11-01 2025-10-31 12256780 frs-core:FurnitureFittings 2025-10-31 12256780 frs-core:FurnitureFittings 2024-11-01 2025-10-31 12256780 frs-core:FurnitureFittings 2024-10-31 12256780 frs-core:OtherResidualIntangibleAssets 2025-10-31 12256780 frs-core:OtherResidualIntangibleAssets 2024-11-01 2025-10-31 12256780 frs-core:OtherResidualIntangibleAssets 2024-10-31 12256780 frs-core:PlantMachinery 2025-10-31 12256780 frs-core:PlantMachinery 2024-11-01 2025-10-31 12256780 frs-core:PlantMachinery 2024-10-31 12256780 frs-core:OtherReservesSubtotal 2025-10-31 12256780 frs-core:SharePremium 2025-10-31 12256780 frs-core:ShareCapital 2025-10-31 12256780 frs-core:RetainedEarningsAccumulatedLosses 2025-10-31 12256780 frs-bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 12256780 frs-bus:FilletedAccounts 2024-11-01 2025-10-31 12256780 frs-bus:SmallEntities 2024-11-01 2025-10-31 12256780 frs-bus:AuditExempt-NoAccountantsReport 2024-11-01 2025-10-31 12256780 frs-bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 12256780 frs-bus:Director1 2024-11-01 2025-10-31 12256780 frs-bus:Director2 2024-11-01 2025-10-31 12256780 frs-bus:Director3 2024-11-01 2025-10-31 12256780 frs-bus:Director4 2024-11-01 2025-10-31 12256780 frs-core:CurrentFinancialInstruments 1 2025-10-31 12256780 frs-countries:EnglandWales 2024-11-01 2025-10-31 12256780 2023-10-31 12256780 2024-10-31 12256780 2023-11-01 2024-10-31 12256780 frs-core:CurrentFinancialInstruments 2024-10-31 12256780 frs-core:OtherReservesSubtotal 2024-10-31 12256780 frs-core:SharePremium 2024-10-31 12256780 frs-core:ShareCapital 2024-10-31 12256780 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 12256780 frs-core:CurrentFinancialInstruments 1 2024-10-31
Registered number: 12256780
Lapse Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2025
Daly Accounting
The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Lapse Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2025
Unaudited Financial Statements

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

Page 1
Lapse Ltd
Balance Sheet
As At 31 October 2025
Balance Sheet
Registered number: 12256780

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 3 |  | - |  | 396
Tangible Assets | 4 |  | 98,739 |  | 141,739
|  |  | 98,739 |  | 142,135
CURRENT ASSETS
Debtors | 5 | 996,024 |  | 335,622 |
Cash at bank and in hand |  | 14,894,048 |  | 20,712,657 |
|  | 15,890,072 |  | 21,048,279 |
Creditors: Amounts Falling Due Within One Year | 6 | (153,432 ) |  | (203,121 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 15,736,640 |  | 20,845,158
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 15,835,379 |  | 20,987,293
NET ASSETS |  |  | 15,835,379 |  | 20,987,293
CAPITAL AND RESERVES
Called up share capital | 7 |  | 2 |  | 2
Share premium account |  |  | 33,563,840 |  | 33,563,840
Other reserves |  |  | 1,033,704 |  | 418,927
Profit and Loss Account |  |  | (18,762,167 ) |  | (12,995,476 )
SHAREHOLDERS' FUNDS |  |  | 15,835,379 |  | 20,987,293

Page 1
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Lapse Ltd
Balance Sheet (continued)
As At 31 October 2025
For the year ending 31 October 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

Mr Daniel Silvertown Director
9th January 2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Lapse Ltd
Notes to the Financial Statements
For The Year Ended 31 October 2025
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Going Concern Disclosure
The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on the going concern basis
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of four years.
Development costs are written off to profit and loss as incurred. This represents a change in accounting policy for development expenditure from capitalising and amortising such costs over four years to expensing development costs as incurred. Management considers this policy provides more reliable and relevant information to users of the financial statements, given the uncertainty over the timing and amount of future economic benefits arising from development activities.
The change in accounting policy has been applied retrospectively with comparative figures restated accordingly, previously capitalised development costs have been charged to profit or loss, and opening reserves adjusted as at the start of the comparative period.
1.4. 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% Straightline
Fixtures & Fittings | 25% Straightline
Computer Equipment | 25% Straightline

1.5. 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.
1.6. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Research and development (R&D) tax credits of £602,489 relating to prior periods have been recognised in the profit and loss account in the current year. These amounts were not recognised in earlier periods due to uncertainty arising from an ongoing HMRC enquiry into the Company’s R&D tax claims. The enquiry has since been resolved and, accordingly, the directors consider it appropriate to recognise the credits in the current year.
No deferred tax asset has been recognised in respect of these losses, as the directors consider that there is insufficient certainty regarding their recoverability in the short term.
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Lapse Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
1.7. Share-based Payments
The Company issues equity-settled share options to certain employees. Equity-settled share-based payment transactions are measured at fair value (excluding the effect of non market-based vesting conditions) at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company's estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions.
Fair value is measured by use of the Black Scholes pricing model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management's best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.
The fair value of options offered under equity settled share based payment schemes is determined at grant date and expensed in the profit and loss account over the vesting period with a corresponding credit to retained earnings.
Where vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable.
Estimates are subsequently revised if there is any indication that the number of share options expected to vest differs from previous estimates. Any adjustment to cumulative share-based compensation resulting from a revision is recognised in the current period.
The number of vested options ultimately exercised by holders does not impact the expense recorded in any period.
Upon exercise of share options, the proceeds received, net of any directly attributable transaction costs, are allocated to share capital up to the nominal value of the shares issued with any difference allocated to the share premium account.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 23 (2024: 17)
23 17
3. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 November 2024 | 3,800
As at 31 October 2025 | 3,800
Amortisation
As at 1 November 2024 | 3,404
Provided during the period | 396
As at 31 October 2025 | 3,800
Net Book Value
As at 31 October 2025 | -
As at 1 November 2024 | 396

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Lapse Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
4. Tangible Assets

| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost
As at 1 November 2024 | 3,163 | 57,020 | 167,335 | 227,518
Additions | - | 495 | 17,776 | 18,271
Disposals | - | (16,245 ) | - | (16,245 )
As at 31 October 2025 | 3,163 | 41,270 | 185,111 | 229,544
Depreciation
As at 1 November 2024 | 2,504 | 19,427 | 63,848 | 85,779
Provided during the period | 659 | 14,609 | 43,634 | 58,902
Disposals | - | (13,876 ) | - | (13,876 )
As at 31 October 2025 | 3,163 | 20,160 | 107,482 | 130,805
Net Book Value
As at 31 October 2025 | - | 21,110 | 77,629 | 98,739
As at 1 November 2024 | 659 | 37,593 | 103,487 | 141,739

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Prepayments and accrued income | 188,682 |  | 115,379
Other debtors | 68,400 |  | 68,400
R&d tax credits | 602,489 |  | -
VAT | 136,453 |  | 151,843
| 996,024 |  | 335,622

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 17,059 |  | 21,586
Other creditors | 36,832 |  | 84,204
Taxation and social security | 99,541 |  | 97,331
| 153,432 |  | 203,121

7. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 2 |  | 2

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Lapse Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
8. Other Commitments
The total of future minimum lease payments under operating leases are as follows:

| Land and buildings
--- | ---
| 2025 | 2024
| £ | £
Within 1 year | 684,000 | 684,000
Between 1 and 5 years | 114,000 | 798,000
| 798,000 | 1,482,000

9. Share-based payment
The Company has a share option scheme for certain employees. The total number of employees of the Company that share options have been granted to is 8.
In certain circumstances the options may lapse if the relevant individual ceases to be an employee of the Company.
The total number of share options outstanding at 31st October 2024 was 7,649,040 with a weighted average exercise price of £0.14.
The vesting period is four years. If the options remain unexercised after a period of ten years from the date of grant, the options expire.
The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.
The Company recognised total expenses of £614,777 (2024: £255,297) related to equity-settled share-based payment transactions.
10. General Information
Lapse Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12256780 . The registered office is 23 Cobalt Building Lower Pemberton, Ashford, Kent, TN25 4BF.
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