Acorah Software Products - Accounts Production 19.3.600 false true true 31 December 2024 1 January 2024 false 1 January 2025 31 December 2025 31 December 2025 10342970 Dr Y Cheong Ms T Cooper Mr C E Dickson Mr C J Dickson Ms K V Rowley Mr D Wilkinson Mr S E Withnell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10342970 2024-12-31 10342970 2025-12-31 10342970 2025-01-01 2025-12-31 10342970 frs-core:CurrentFinancialInstruments 2025-12-31 10342970 frs-core:Non-currentFinancialInstruments 2025-12-31 10342970 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 10342970 frs-core:OtherResidualIntangibleAssets 2025-12-31 10342970 frs-core:OtherResidualIntangibleAssets 2025-01-01 2025-12-31 10342970 frs-core:OtherResidualIntangibleAssets 2024-12-31 10342970 frs-core:SharePremium 2025-12-31 10342970 frs-core:ShareCapital 2025-12-31 10342970 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 10342970 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10342970 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 10342970 frs-bus:SmallEntities 2025-01-01 2025-12-31 10342970 frs-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 10342970 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 10342970 frs-bus:Director1 2025-01-01 2025-12-31 10342970 frs-bus:Director2 2025-01-01 2025-12-31 10342970 frs-bus:Director3 2025-01-01 2025-12-31 10342970 frs-bus:Director4 2025-01-01 2025-12-31 10342970 frs-bus:Director5 2025-01-01 2025-12-31 10342970 frs-bus:Director6 2025-01-01 2025-12-31 10342970 frs-bus:Director7 2025-01-01 2025-12-31 10342970 frs-countries:EnglandWales 2025-01-01 2025-12-31 10342970 2023-12-31 10342970 2024-12-31 10342970 2024-01-01 2024-12-31 10342970 frs-core:CurrentFinancialInstruments 2024-12-31 10342970 frs-core:Non-currentFinancialInstruments 2024-12-31 10342970 frs-core:SharePremium 2024-12-31 10342970 frs-core:ShareCapital 2024-12-31 10342970 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31
Registered number: 10342970
Verso Biosense Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Verso Biosense Group Limited
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Verso Biosense Group Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 10342970
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 142,517 142,526
142,517 142,526
CURRENT ASSETS
Debtors 5 12,652,076 10,614,935
Cash at bank and in hand 1,929 165
12,654,005 10,615,100
Creditors: Amounts Falling Due Within One Year 6 (5,098,253 ) (49,818 )
NET CURRENT ASSETS (LIABILITIES) 7,555,752 10,565,282
TOTAL ASSETS LESS CURRENT LIABILITIES 7,698,269 10,707,808
Creditors: Amounts Falling Due After More Than One Year 7 - (2,536,689 )
NET ASSETS 7,698,269 8,171,119
CAPITAL AND RESERVES
Called up share capital 8 401,354 401,354
Share premium account 8,865,453 8,865,453
Profit and Loss Account (1,568,538 ) (1,095,688 )
SHAREHOLDERS' FUNDS 7,698,269 8,171,119
Page 1
Page 2
Verso Biosense Group Limited
Balance Sheet (continued)
As At 31 December 2025
For the year ending 31 December 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
Ms K V Rowley
Director
16/09/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Verso Biosense Group Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Verso Biosense Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10342970 . The registered office is 115b Innovation Drive, Milton Park, Milton, Abingdon, OX14 4RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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.
2.2. Going Concern Disclosure
These financial statements are prepared on the going concern basis. The directors have consider that
the group has sufficient reserves to meet liabilities as they fall due for a period of at least twelve months
from the date of the signing of the accounts and as such the preparation of the accounts on a going
concern basis is appropriate.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
2.4. 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
...CONTINUED
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Verso Biosense Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.4. Financial Instruments - continued
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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 if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.5. 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.
2.6. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. 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 or 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 January 2025 142,526
As at 31 December 2025 142,526
Amortisation
As at 1 January 2025 -
Impairment losses 9
As at 31 December 2025 9
Net Book Value
As at 31 December 2025 142,517
As at 1 January 2025 142,526
5. Debtors
2025 2024
as restated
£ £
Due within one year
Amounts owed by group undertakings 12,624,460 10,507,122
Other debtors 27,616 107,813
12,652,076 10,614,935
Page 4
Page 5
Verso Biosense Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Trade creditors 20,873 48,453
Other creditors 5,077,380 1,365
5,098,253 49,818
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
as restated
£ £
Other creditors - 2,536,689
8. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 401,354 401,354
9. Contingent Liabilities
The company is part of a VAT group with its' subsidiaries, Verso Biosense Limited and Verso Biosense R&D Limited. As such it is jointly and severally liable for the VAT liabilities of other group members.
10. Post Balance Sheet Events
From 29 to 30 July 2026, the Company allotted 44,800 ordinary shares of £0.50 each at par for cash, raising £22,400.
11. Related Party Transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
The following amounts were outstanding at the reporting end date:
       Amounts due to related parties                                                                       2025               2024
                                                                                                                                       £                      £
       Other related parties                                                                                               -            500,000
       Amounts due from related parties                                                                   2025                2024
                                                                                                                                        £                      £
       Entities over which the entity has control, joint control                                 10,507,122        7,077,354
       or significant influence 
       Other related parties                                                                                      105,000        2,158,000
12. Prior Year Adjustments
During the year ending 31 December 2025 the Company identified an error from the year ended 31 December 2023. In that year, £14,000 was credited to share capital and £791,959 to share premium. Both amounts related to share options. These options can only be exercised if the Company is sold.
No shares were actually issued in the year ending 31 December 2025. The options had not been exercised. Under the Company's accounting policy (note 1.6), in accordance with Section 26 of FRS 102, no amount should be recognised for these options until a sale of the Company is probable. A sale was not probable at 31 December 2023 or at 31 December 2025. 
Under section 610 of the Companies Act 2006, share capital and share premium may only reflect shares that have actually been issued and paid for. As no shares were issued, the £14,000 and £791,959 should not have been recorded in these accounts.
...CONTINUED
Page 5
Page 6
Verso Biosense Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
The error has been corrected by restating the prior period. This follows Section 10 of FRS 102. The correction does not change total equity, net assets, or profit for any period. It does not change cash flows. The table below shows the effect on the Company's financial statements.
Capital and reserves                           As previously    Adjustments          Restated 
                                                                      stated £                      £                      £
Called up share capital                                    415,354           (14,000)           401,354
Share premium account                                9,657,412         (791,959)        8,865,453
Profit and loss reserves                               (1,901,647)          805,959       (1,095,688)
Total Equity                                                8,171,119                    -          8,171,119
The correction reduces share capital by £14,000 and share premium by £791,959 at 1 January 2024. It increases the profit and loss reserve by £805,959 at that date. Total equity is unchanged.
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