Silverfin false 28/02/2023 01/03/2022 28/02/2023 S C Clark 06/07/2021 A Jarvis 06/07/2021 G Whitaker 01/09/2018 J W Potgieter 24/06/2019 29 November 2023 The principal activity of the Company during the financial year was business support service activities. 11546988 2023-02-28 11546988 bus:Director1 2023-02-28 11546988 bus:Director2 2023-02-28 11546988 bus:Director3 2023-02-28 11546988 bus:Director4 2023-02-28 11546988 2022-02-28 11546988 core:CurrentFinancialInstruments 2023-02-28 11546988 core:CurrentFinancialInstruments 2022-02-28 11546988 core:Non-currentFinancialInstruments 2023-02-28 11546988 core:Non-currentFinancialInstruments 2022-02-28 11546988 core:ShareCapital 2023-02-28 11546988 core:ShareCapital 2022-02-28 11546988 core:SharePremium 2023-02-28 11546988 core:SharePremium 2022-02-28 11546988 core:RetainedEarningsAccumulatedLosses 2023-02-28 11546988 core:RetainedEarningsAccumulatedLosses 2022-02-28 11546988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 11546988 core:PatentsTrademarksLicencesConcessionsSimilar 2022-02-28 11546988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 11546988 core:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 11546988 core:ComputerEquipment 2022-02-28 11546988 core:ComputerEquipment 2023-02-28 11546988 core:CostValuation 2022-02-28 11546988 core:AdditionsToInvestments 2023-02-28 11546988 core:CostValuation 2023-02-28 11546988 bus:OrdinaryShareClass1 2023-02-28 11546988 bus:PreferenceShareClass1 2023-02-28 11546988 2022-03-01 2023-02-28 11546988 bus:FullAccounts 2022-03-01 2023-02-28 11546988 bus:SmallEntities 2022-03-01 2023-02-28 11546988 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11546988 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11546988 bus:Director1 2022-03-01 2023-02-28 11546988 bus:Director2 2022-03-01 2023-02-28 11546988 bus:Director3 2022-03-01 2023-02-28 11546988 bus:Director4 2022-03-01 2023-02-28 11546988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2022-03-01 2023-02-28 11546988 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-03-01 2023-02-28 11546988 core:ComputerEquipment core:TopRangeValue 2022-03-01 2023-02-28 11546988 2021-03-01 2022-02-28 11546988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 11546988 core:PatentsTrademarksLicencesConcessionsSimilar 2022-03-01 2023-02-28 11546988 core:ComputerEquipment 2022-03-01 2023-02-28 11546988 core:Subsidiary1 2022-03-01 2023-02-28 11546988 core:Subsidiary1 1 2022-03-01 2023-02-28 11546988 core:Subsidiary1 1 2021-03-01 2022-02-28 11546988 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 11546988 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11546988 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 11546988 bus:PreferenceShareClass1 2022-03-01 2023-02-28 11546988 bus:PreferenceShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 11546988 (England and Wales)

AGRIGATE ONE LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

AGRIGATE ONE LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

AGRIGATE ONE LIMITED

COMPANY INFORMATION

For the financial year ended 28 February 2023
AGRIGATE ONE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2023
DIRECTORS S C Clark
A Jarvis
G Whitaker
J W Potgieter
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 11546988 (England and Wales)
AGRIGATE ONE LIMITED

BALANCE SHEET

As at 28 February 2023
AGRIGATE ONE LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 1,729,258 1,133,164
Tangible assets 4 3,482 1,323
Investments 5 1 0
1,732,741 1,134,487
Current assets
Debtors 6 276,636 25,917
Cash at bank and in hand 1,048,583 185,143
1,325,219 211,060
Creditors: amounts falling due within one year 7 ( 191,636) ( 173,750)
Net current assets 1,133,583 37,310
Total assets less current liabilities 2,866,324 1,171,797
Creditors: amounts falling due after more than one year 8 0 ( 1,356,646)
Net assets/(liabilities) 2,866,324 ( 184,849)
Capital and reserves
Called-up share capital 9 13,571 3,653
Share premium account 3,506,115 522,388
Profit and loss account ( 653,362 ) ( 710,890 )
Total shareholders' funds/(deficit) 2,866,324 ( 184,849)

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Agrigate One Limited (registered number: 11546988) were approved and authorised for issue by the Board of Directors on 29 November 2023. They were signed on its behalf by:

G Whitaker
Director
AGRIGATE ONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
AGRIGATE ONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Agrigate One Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date and the gains or losses on translation are included in the profit and loss account.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.

Income from the provision of services is recognised in the period in which the services are provided to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition. Development costs relate to the development of software. Impairment losses are recognised to the extent that the carrying value of the asset exceeds its recoverable amount. The directors undertake to review the recoverable amount at each year end to determine whether an impairment is required.

Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Trademarks, patents and licences 10 years straight line
Tangible fixed assets

Tangible assets are stated 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 is charged so as the write off the costs of the assets over their estimated useful lives, as follows:

Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Interest-bearing borrowings are initially recorded at transaction price, net of transaction costs. They are subsequently carried at transaction price minus any repayments of the principal.

Interest expense is recognised on the basis of the compound interest method and is included in interest payable and other similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Financial assets are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

Ordinary share capital

Ordinary shares and preferred ordinary shares are classified as equity. Convertible redeemable preference shares are classified as debt.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Intangible assets

Development costs Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 March 2022 1,545,311 3,597 1,548,908
Additions 995,080 0 995,080
At 28 February 2023 2,540,391 3,597 2,543,988
Accumulated amortisation
At 01 March 2022 415,466 278 415,744
Charge for the financial year 398,626 360 398,986
At 28 February 2023 814,092 638 814,730
Net book value
At 28 February 2023 1,726,299 2,959 1,729,258
At 28 February 2022 1,129,845 3,319 1,133,164

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 March 2022 3,275 3,275
Additions 3,290 3,290
At 28 February 2023 6,565 6,565
Accumulated depreciation
At 01 March 2022 1,952 1,952
Charge for the financial year 1,131 1,131
At 28 February 2023 3,083 3,083
Net book value
At 28 February 2023 3,482 3,482
At 28 February 2022 1,323 1,323

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 March 2022 0
Additions 1
At 28 February 2023 1
Carrying value at 28 February 2023 1
Carrying value at 28 February 2022 0

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
28.02.2023
Ownership
28.02.2022
Agrigate Limited 22 Chancery Lane, London, WC2A 1LS Dormant Company Ordinary 100.00% 0.00%

6. Debtors

2023 2022
£ £
Trade debtors 158,102 19,929
Amounts owed by directors 0 450
Accrued income 0 2,590
VAT recoverable 1,057 2,948
Corporation tax 117,477 0
276,636 25,917

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 130,260 8,387
Other loans 1 15,417
Deferred income 6,500 0
Other taxation and social security 51,327 0
Other creditors 3,548 149,946
191,636 173,750

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Convertible loan notes 0 1,356,646

There are no amounts included above in respect of which any security has been given by the small entity.

Convertible unsecured loan notes comprise £0.01 convertible redeemable preferred shares. The convertible loan notes were converted to equity in the year ended 28 February 2023.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,057,014 Ordinary £0.001 shares of £ 0.001 each (2022: 1,000,000 shares of £ 0.001 each) 1,057 1,000
1,251,418 Preferred ordinary £0.01 preference shares of £ 0.01 each (2022: 265,337 shares of £ 0.01 each) 12,514 2,653
13,571 3,653

In the financial year ended 28 February 2023, the following share capital transactions took place:

57,014 Ordinary £0.001 shares were allotted with an aggregate nominal value of £57.014 for total consideration of £215,000.

42,011 Convertible Redeemable Preferred £0.01 shares were converted into 42,011 Preferred Ordinary £0.01 shares, with an aggregate nominal value of £420.11.

A bonus issue of 566,980 Preferred Ordinary £0.01 shares for an aggregate nominal value of £5,669.80.

377,090 Preferred Ordinary £0.01 shares were allotted with an aggregate nominal value of £3,770.90 for total consideration of £1,422,000.