Acorah Software Products - Accounts Production 18.1.170 false true true 30 November 2024 1 April 2024 false 1 December 2024 30 November 2025 30 November 2025 11445207 Mr William Tunstall-Pedoe Mr Barak Berkowitz Ms Amelia Sarah Armour iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11445207 2024-11-30 11445207 2025-11-30 11445207 2024-12-01 2025-11-30 11445207 frs-core:CurrentFinancialInstruments 2025-11-30 11445207 frs-core:ComputerEquipment 2025-11-30 11445207 frs-core:ComputerEquipment 2024-12-01 2025-11-30 11445207 frs-core:ComputerEquipment 2024-11-30 11445207 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-01 2025-11-30 11445207 frs-core:FurnitureFittings 2025-11-30 11445207 frs-core:FurnitureFittings 2024-12-01 2025-11-30 11445207 frs-core:FurnitureFittings 2024-11-30 11445207 frs-core:NetGoodwill 2025-11-30 11445207 frs-core:NetGoodwill 2024-12-01 2025-11-30 11445207 frs-core:NetGoodwill 2024-11-30 11445207 frs-core:OtherResidualIntangibleAssets 2025-11-30 11445207 frs-core:OtherResidualIntangibleAssets 2024-12-01 2025-11-30 11445207 frs-core:OtherResidualIntangibleAssets 2024-11-30 11445207 frs-core:WithinOneYear 2025-11-30 11445207 frs-core:OtherReservesSubtotal 2025-11-30 11445207 frs-core:SharePremium 2025-11-30 11445207 frs-core:ShareCapital 2025-11-30 11445207 frs-core:RetainedEarningsAccumulatedLosses 2025-11-30 11445207 frs-bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 11445207 frs-bus:FilletedAccounts 2024-12-01 2025-11-30 11445207 frs-bus:SmallEntities 2024-12-01 2025-11-30 11445207 frs-bus:AuditExempt-NoAccountantsReport 2024-12-01 2025-11-30 11445207 frs-bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 11445207 frs-bus:OrdinaryShareClass1 2024-12-01 2025-11-30 11445207 frs-bus:OrdinaryShareClass1 2025-11-30 11445207 frs-bus:OrdinaryShareClass2 2024-12-01 2025-11-30 11445207 frs-bus:OrdinaryShareClass2 2025-11-30 11445207 frs-bus:OrdinaryShareClass3 2024-12-01 2025-11-30 11445207 frs-bus:OrdinaryShareClass3 2025-11-30 11445207 frs-bus:Director1 2024-12-01 2025-11-30 11445207 frs-bus:Director2 2024-12-01 2025-11-30 11445207 frs-bus:Director3 2024-12-01 2025-11-30 11445207 frs-countries:EnglandWales 2024-12-01 2025-11-30 11445207 2024-03-31 11445207 2024-11-30 11445207 2024-04-01 2024-11-30 11445207 frs-core:CurrentFinancialInstruments 2024-11-30 11445207 frs-core:WithinOneYear 2024-11-30 11445207 frs-core:OtherReservesSubtotal 2024-11-30 11445207 frs-core:SharePremium 2024-11-30 11445207 frs-core:ShareCapital 2024-11-30 11445207 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 11445207 frs-bus:OrdinaryShareClass1 2024-04-01 2024-11-30 11445207 frs-bus:OrdinaryShareClass2 2024-04-01 2024-11-30 11445207 frs-bus:OrdinaryShareClass3 2024-04-01 2024-11-30
Registered number: 11445207
Unlikely Artificial Intelligence Limited
Unaudited Financial Statements
For The Year Ended 30 November 2025
Wilson Partners Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Unlikely Artificial Intelligence Limited
Contents
Contents

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

Page 1
Unlikely Artificial Intelligence Limited
Balance Sheet
As At 30 November 2025
Balance Sheet
Registered number: 11445207

| 30 November 2025 | 30 November 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 559,112 |  | 429,146
Tangible Assets | 5 |  | 51,366 |  | 82,468
|  |  | 610,478 |  | 511,614
CURRENT ASSETS
Debtors | 6 | 2,090,060 |  | 2,014,596 |
Cash at bank and in hand |  | 2,145,009 |  | 2,968,669 |
|  | 4,235,069 |  | 4,983,265 |
Creditors: Amounts Falling Due Within One Year | 7 | (850,653 ) |  | (624,091 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 3,384,416 |  | 4,359,174
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 3,994,894 |  | 4,870,788
NET ASSETS |  |  | 3,994,894 |  | 4,870,788
CAPITAL AND RESERVES
Called up share capital | 8 |  | 258 |  | 159
Share premium account |  |  | 21,201,393 |  | 17,164,608
Other Reserves |  |  | 2,921,246 |  | 1,764,332
Profit and Loss Account |  |  | (20,128,003 ) |  | (14,058,311 )
SHAREHOLDERS' FUNDS |  |  | 3,994,894 |  | 4,870,788

Page 1
Page 2
Unlikely Artificial Intelligence Limited
Balance Sheet (continued)
As At 30 November 2025
For the year ending 30 November 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 William Tunstall-Pedoe Director
2 April 2026

The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Unlikely Artificial Intelligence Limited
Notes to the Financial Statements
For The Year Ended 30 November 2025
Notes to the Financial Statements
1. General Information
Unlikely Artificial Intelligence Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11445207 . The registered office is Victoria Hall, Victoria Street, Cambridge, CB1 1JP.
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 £.
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. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future.
The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
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:

Fixtures & Fittings | Straight line over 4 years
Computer Equipment | Straight line over 3 years

2.7. 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.
Page 3
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Unlikely Artificial Intelligence Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
2.8. 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.
2.9. 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.
2.10. 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.
2.11. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.12. 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.
2.13. 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 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.
Page 4
Page 5
Unlikely Artificial Intelligence Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
2.14. 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 cirteria 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2024: 63)
39 63
4. Intangible Assets

| Goodwill | Patents and Website | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 December 2024 | 50,000 | 480,640 | 530,640
Additions | - | 202,100 | 202,100
As at 30 November 2025 | 50,000 | 682,740 | 732,740
Amortisation
As at 1 December 2024 | 28,393 | 73,101 | 101,494
Provided during the period | 5,000 | 67,134 | 72,134
As at 30 November 2025 | 33,393 | 140,235 | 173,628
Net Book Value
As at 30 November 2025 | 16,607 | 542,505 | 559,112
As at 1 December 2024 | 21,607 | 407,539 | 429,146

5. Tangible Assets

| Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 December 2024 | 1,212 | 158,654 | 159,866
Additions | - | 19,846 | 19,846
Disposals | - | (5,331 ) | (5,331 )
As at 30 November 2025 | 1,212 | 173,169 | 174,381
Depreciation
As at 1 December 2024 | 179 | 77,219 | 77,398
Provided during the period | 303 | 48,340 | 48,643
Disposals | - | (3,026 ) | (3,026 )
As at 30 November 2025 | 482 | 122,533 | 123,015
Net Book Value
As at 30 November 2025 | 730 | 50,636 | 51,366
As at 1 December 2024 | 1,033 | 81,435 | 82,468

Page 5
Page 6
Unlikely Artificial Intelligence Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
6. Debtors

| 30 November 2025 |  | 30 November 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 201,926 |  | 3,392
Prepayments and accrued income | 55,337 |  | 86,647
Other debtors | 590,226 |  | 417,025
Corporation tax recoverable assets | 1,184,526 |  | 1,380,147
VAT | 58,045 |  | 126,938
Net wages | - |  | 447
| 2,090,060 |  | 2,014,596

7. Creditors: Amounts Falling Due Within One Year

| 30 November 2025 |  | 30 November 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 366,095 |  | 181,069
Other taxes and social security | 118,566 |  | 212,084
Other creditors | 249,981 |  | 22,151
Accruals and deferred income | 116,011 |  | 208,787
| 850,653 |  | 624,091

8. Share Capital

| 30 November 2025 |  | 30 November 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
1,283,805 Ordinary Shares of £ 0.0001 each | 128 |  | 123
359,540 Ordinary A shares of £ 0.0001 each | 36 |  | 36
938,737 Ordinary B shares of £ 0.0001 each | 94 |  | -
| 258 |  | 159

Shares issued during the period: | £
50,861 Ordinary Shares of £ 0.0001 each | 5
938,737 Ordinary B shares of £ 0.0001 each | 94
| 99

Within the year 50,861 Ordinary shares of £0.0001 each were allotted on the exercise of EMI options at a price of £0.01 per share.
On 7th July 2025, 938,737 Seed 2 shares of £0.0001 each were allotted and fully paid at a price of £4.333 per share.
Page 6
Page 7
Unlikely Artificial Intelligence Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 30 November 2025 |  | 30 November 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 107,913 |  | 82,800
| 107,913 |  | 82,800

Page 7