Acurable Limited 10310661 false 2025-01-01 2025-12-31 2025-12-31 The principal activity of the company is the development and provision of diagnostic medical products and services. Digita Accounts Production Advanced 6.30.9574.0 true false true true 10310661 2025-01-01 2025-12-31 10310661 2025-12-31 10310661 bus:OrdinaryShareClass1 2025-12-31 10310661 bus:OrdinaryShareClass2 2025-12-31 10310661 bus:OrdinaryShareClass3 2025-12-31 10310661 bus:OrdinaryShareClass4 2025-12-31 10310661 bus:PreferenceShareClass1 2025-12-31 10310661 core:CurrentFinancialInstruments 2025-12-31 10310661 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 10310661 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 10310661 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-12-31 10310661 core:PatentsTrademarksLicencesConcessionsSimilar 2025-12-31 10310661 core:AdditionsToInvestments 2025-12-31 10310661 core:CostValuation 2025-12-31 10310661 core:BetweenTwoFiveYears 2025-12-31 10310661 core:WithinOneYear 2025-12-31 10310661 core:FurnitureFittingsToolsEquipment 2025-12-31 10310661 core:LandBuildings 2025-12-31 10310661 bus:SmallEntities 2025-01-01 2025-12-31 10310661 bus:Audited 2025-01-01 2025-12-31 10310661 bus:FilletedAccounts 2025-01-01 2025-12-31 10310661 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 10310661 bus:RegisteredOffice 2025-01-01 2025-12-31 10310661 bus:CompanySecretary1 2025-01-01 2025-12-31 10310661 bus:Director1 2025-01-01 2025-12-31 10310661 bus:Director2 2025-01-01 2025-12-31 10310661 bus:Director3 2025-01-01 2025-12-31 10310661 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 10310661 bus:OrdinaryShareClass2 2025-01-01 2025-12-31 10310661 bus:OrdinaryShareClass3 2025-01-01 2025-12-31 10310661 bus:OrdinaryShareClass4 2025-01-01 2025-12-31 10310661 bus:PreferenceShareClass1 2025-01-01 2025-12-31 10310661 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10310661 bus:Agent1 2025-01-01 2025-12-31 10310661 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 10310661 core:PatentsTrademarksLicencesConcessionsSimilar 2025-01-01 2025-12-31 10310661 core:ComputerEquipment 2025-01-01 2025-12-31 10310661 core:FurnitureFittingsToolsEquipment 2025-01-01 2025-12-31 10310661 core:LandBuildings 2025-01-01 2025-12-31 10310661 core:LeaseholdImprovements 2025-01-01 2025-12-31 10310661 core:PlantMachinery 2025-01-01 2025-12-31 10310661 core:ParentEntities 2025-01-01 2025-12-31 10310661 core:Subsidiary1 2025-01-01 2025-12-31 10310661 core:Subsidiary1 1 2025-01-01 2025-12-31 10310661 1 2025-01-01 2025-12-31 10310661 countries:AllCountries 2025-01-01 2025-12-31 10310661 2024-12-31 10310661 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 10310661 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 10310661 core:CostValuation 2024-12-31 10310661 core:FurnitureFittingsToolsEquipment 2024-12-31 10310661 core:LandBuildings 2024-12-31 10310661 2024-01-01 2024-12-31 10310661 2024-12-31 10310661 bus:OrdinaryShareClass1 2024-12-31 10310661 bus:OrdinaryShareClass2 2024-12-31 10310661 bus:OrdinaryShareClass3 2024-12-31 10310661 bus:OrdinaryShareClass4 2024-12-31 10310661 bus:PreferenceShareClass1 2024-12-31 10310661 core:CurrentFinancialInstruments 2024-12-31 10310661 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10310661 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10310661 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 10310661 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 10310661 core:BetweenTwoFiveYears 2024-12-31 10310661 core:WithinOneYear 2024-12-31 10310661 core:FurnitureFittingsToolsEquipment 2024-12-31 10310661 core:LandBuildings 2024-12-31 10310661 core:Subsidiary1 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10310661

Acurable Limited
Filleted Financial Statements
for the Year Ended 31 December 2025

Acurable Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 12

Acurable Limited

Company Information

Directors | E Rodriguez-Villegas R Singh-Molares S Fernandez

Company secretary | S Bowyer

Registered office | 83 Victoria Street London SW1H 0HW

Auditors | Carbon Accountancy Limited Chartered Accountants and Registered Auditors 80-83 Long Lane London EC1A 9ET

Acurable Limited

(Registration number: 10310661)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 2,455,956 | 3,085,468
Tangible assets | 5 | 20,579 | 36,345
Investments | 6 | 29,039 | 2,677
|  | 2,505,574 | 3,124,490
Current assets |  |  |
Stocks | 7 | 558,540 | 611,828
Debtors | 8 | 727,323 | 306,915
Cash at bank and in hand |  | 2,006,334 | 3,373,291
|  | 3,292,197 | 4,292,034
Creditors: Amounts falling due within one year | 9 | (462,480) | (352,892)
Net current assets |  | 2,829,717 | 3,939,142
Total assets less current liabilities |  | 5,335,291 | 7,063,632
Creditors: Amounts falling due after more than one year | 9 | (94,805) | (198,910)
Net assets |  | 5,240,486 | 6,864,722
Capital and reserves |  |  |
Called up share capital | 10 | 306 | 306
Share premium reserve |  | 10,769,437 | 10,769,437
Other reserves |  | 197,926 | 170,994
Retained earnings |  | (5,727,183) | (4,076,015)
Shareholders' funds |  | 5,240,486 | 6,864,722

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 July 2026 and signed on its behalf by:

......................................... E Rodriguez-Villegas Director

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
83 Victoria Street
London
SW1H 0HW

These financial statements were authorised for issue by the Board on 30 July 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

At the year end, the company reported net assets of £5.2m (2024 - £6.8m) including cash balances of £2m (2024 - £3.4m). The board have prepared and reviewed cash flow forecasts in support of their growth plan for the company. The directors have considered the extent to which projected cash flows are committed and the expected headroom in a severe but plausible downside scenario.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable in respect of clinical collaborations, and is shown net of VAT and other sales related taxes. Revenue is recognised over the period in which clinical services are provided. Outright sales of hardware are recognised upon delivery to the customer.

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Government grants

Grants are recognized in income upon receipt or when receivable, unless there are future performance conditions, in which case they are recognized only when those conditions are met and held as a liability until then.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes 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
reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are
recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax
liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference
arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects
neither the tax profit nor the accounting profit.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures, fittings and office equipment | 25% on straight line basis
Medical equipment | 20% on straight line basis
Computer equipment | 25% - 50% on straight line basis
Leasehold improvements | over the period of the lease

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Intangible assets

The company's intangible fixed assets relate to the investment in the development of its non-invasive, wearable medical devices that continuously monitor respiratory and cardiovascular biosignals using acoustic sensors. The company policy is to amortize these costs over their useful economic life of 5 years, subject to annual impairment review. Expenditure for ongoing maintenance and support activities is recognised in the profit and loss account as an expense as incurred.
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.

Development costs

Expenditure on development activities may be capitalized if the process is technically and commercially feasible and the company intends and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the company can measure reliably the expenditure attributable during the development processe. The expenditure capitalized represents the cost of direct labour. Capitalised development expenditure is stated at cost less accumulated amortisation and less any accumulated impairment losses within the development of its products.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Patents and licences | Over the life of the patent
Development costs | 20% on straight line basis

Investments

Investments in equity and long terms loans in subsidiary undertakings are valued at historical cost less provision for impairments in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
Stocks of finished goods held for service licencing clinical use are treated as consumable medical devices and are expensed out of stock as they are issued to patients.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is
more representative of the time pattern in which economic benefits from the leases asset are consumed.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Share based payments

Share-based payment arrangements are recognised in the financial statements in accordance with Financial
Reporting Standard 102. Equity-settled share-based payments are ultimately recognised as an expense in the profit and loss account with a corresponding credit to “share option reserve”.
Cumulative adjustments where significant prior to vesting is recognised in the current period. Estimates are
revised subsequently if there is any indication that the number of share options expected to vest differs from
previous estimate. No adjustment is made to any expense recognised in prior periods if share options that have
vested are not exercised. Upon exercise of share options, the proceeds received net of attributable transaction costs are credited to share capital, and where appropriate share premium.

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2024 - 24).

4 | Intangible assets

| Patents and licences £ | Development costs £ | Total £
Cost or valuation
At 1 January 2025 | 326,030 | 5,985,063 | 6,311,093
Additions acquired separately | 64,548 | 257,609 | 322,157
At 31 December 2025 | 390,578 | 6,242,672 | 6,633,250
Amortisation
At 1 January 2025 | 61,416 | 3,164,209 | 3,225,625
Amortisation charge | 21,973 | 929,696 | 951,669
At 31 December 2025 | 83,389 | 4,093,905 | 4,177,294
Carrying amount
At 31 December 2025 | 307,189 | 2,148,767 | 2,455,956
At 31 December 2024 | 264,614 | 2,820,854 | 3,085,468

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

5 | Tangible assets

| Leasehold premises £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2025 | 13,513 | 94,146 | 107,659
Additions | - | 8,226 | 8,226
Disposals | - | (2,052) | (2,052)
At 31 December 2025 | 13,513 | 100,320 | 113,833
Depreciation
At 1 January 2025 | 5,485 | 65,829 | 71,314
Charge for the year | 3,378 | 19,362 | 22,740
Eliminated on disposal | - | (800) | (800)
At 31 December 2025 | 8,863 | 84,391 | 93,254
Carrying amount
At 31 December 2025 | 4,650 | 15,929 | 20,579
At 31 December 2024 | 8,028 | 28,317 | 36,345

Included within the net book value of land and buildings above is £4,650 (2024 - £8,028) in respect of leasehold improvements.

6 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 29,039 | 2,677

Subsidiaries | £
Cost or valuation
At 1 January 2025 | 2,677
Additions | 26,362
At 31 December 2025 | 29,039
Provision
Carrying amount
At 31 December 2025 | 29,039
At 31 December 2024 | 2,677

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

6 | Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Acurable SLU | Calle Virgen De Lujan, 50 2 BJ B, Seville, Spain. |  | 100% | 100%

7 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 143,708 | 108,638
Finished goods and goods for resale | 414,832 | 503,190
| 558,540 | 611,828

8 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 532,836 | 112,662
Amounts owed by related parties | 12 | 95,766 | 95,097
Prepayments |  | 50,936 | 53,856
Other debtors |  | 47,785 | 45,300
|  | 727,323 | 306,915

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

9 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 65,913 | 27,206
Taxation and social security | 190,133 | 71,080
Accruals and deferred income | 194,414 | 237,121
Other creditors | 12,020 | 17,485
| 462,480 | 352,892

Creditors: amounts falling due after more than one year

| 2025 £ | 2024 £
Due after one year |  |
Deferred income | 94,805 | 198,910

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares | 1,303,981 | 130 | 1,303,981 | 130
A Ordinary shares | 91,900 | 9 | 91,900 | 9
Deferred shares | 180,815 | 18 | 180,815 | 18
Seed shares | 702,400 | 70 | 702,400 | 70
Series A preferred | 786,249 | 79 | 786,249 | 79
| 3,065,345 | 306 | 3,065,345 | 306

Ordinary shares rank pari passu to A shares with the exception that A Ordinary shares have no voting rights in the company.

Seed shares hold full voting rights and, in priority over all others, the right to receive their original subscription price (plus unpaid dividends) on a sale, liquidation event, or other return of capital in proportion to the number of seed shares held.

Series A Preferred shares have full voting rights and received preferred payment on the proceeds of a sale, or equal rights on winding up to Seed shares.

Deferred shares have no rights with respect to voting or dividends, are irredeemable and carry entitlement up to a maximum of £1 upon winding up.

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

10 | Share capital (continued)

During the year no A Ordinary shares were issued (2024 - 1,250 at £2.57per share and 23,500 at £0.04 were issued) as a result of share option exercises. All shares have a nominal value of £0.0001.

At the year end, 124,862 share options were in issue (2024: 61,600). In the year, no (2024 - 24,750) share options were exercised and no (2024 - 4,750) share options lapsed. All share options are subject to a one-year vesting cliff commencing on the date of grant, following which the options vest over three years. No share options are held by Directors.

11 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 62,823 | 62,823
Later than one year and not later than five years | 70,913 | 133,736
| 133,736 | 196,559

The amount of non-cancellable operating lease payments recognised as an expense during the year was £62,823 (2024 - £62,823).

12 | Related party transactions

The company has taken advantage of paragraph 33.1A of FRS 102 and has not disclosed details of related party transactions with 100% owned entities within the group.

13 | Events after the financial period

The directors are of the opinion that there are no significant adjusting or non-adjusting events occurring after the reporting date.

Acurable Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

| Notes to the Financial Statements (continued)

14 | Audit report

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with
s444(5B) of the Companies Act 2006:

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 30 July 2026 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.

.........................................