IRIS Accounts Production v23.4.0.336 12795742 Board of Directors Board of Directors 1.10.22 30.9.23 30.9.23 7.3.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh127957422022-09-30127957422023-09-30127957422022-10-012023-09-30127957422021-09-30127957422021-10-012022-09-30127957422022-09-3012795742ns15:EnglandWales2022-10-012023-09-3012795742ns14:PoundSterling2022-10-012023-09-3012795742ns10:Director12022-10-012023-09-3012795742ns10:Director22022-10-012023-09-3012795742ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3012795742ns10:SmallEntities2022-10-012023-09-3012795742ns10:Audited2022-10-012023-09-3012795742ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3012795742ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3012795742ns10:FullAccounts2022-10-012023-09-3012795742ns10:OrdinaryShareClass12022-10-012023-09-3012795742ns10:CompanySecretary12022-10-012023-09-3012795742ns10:RegisteredOffice2022-10-012023-09-3012795742ns5:CurrentFinancialInstruments2023-09-3012795742ns5:CurrentFinancialInstruments2022-09-3012795742ns5:ShareCapital2023-09-3012795742ns5:ShareCapital2022-09-3012795742ns5:RetainedEarningsAccumulatedLosses2023-09-3012795742ns5:RetainedEarningsAccumulatedLosses2022-09-3012795742ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3012795742ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3012795742ns5:CurrentFinancialInstruments2022-10-012023-09-3012795742ns5:WithinOneYear2023-09-3012795742ns5:WithinOneYear2022-09-3012795742ns5:BetweenOneFiveYears2023-09-3012795742ns5:BetweenOneFiveYears2022-09-3012795742ns5:AllPeriods2023-09-3012795742ns5:AllPeriods2022-09-3012795742ns10:OrdinaryShareClass12023-09-30
REGISTERED NUMBER: 12795742 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED

C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED (REGISTERED NUMBER: 12795742)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED

COMPANY INFORMATION
For The Year Ended 30 September 2023







DIRECTORS: Professor N S Scrutton FRS
M H Smith



SECRETARY: P Dennison ACA, FCCA



REGISTERED OFFICE: 20 Mannin Way
Lancaster Business Park
Caton Road
Lancaster
Lancashire
LA1 3SW



REGISTERED NUMBER: 12795742 (England and Wales)



SENIOR STATUTORY AUDITOR: Antonia Aldridge-Brown FCCA



AUDITORS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED (REGISTERED NUMBER: 12795742)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 293,583 1,312,328
Cash at bank 1,237,948 7,912,381
1,531,531 9,224,709
CREDITORS
Amounts falling due within one year 5 1,481,245 9,224,609
NET CURRENT ASSETS 50,286 100
TOTAL ASSETS LESS CURRENT LIABILITIES 50,286 100

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 50,186 -
SHAREHOLDERS' FUNDS 50,286 100

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:




M H Smith - Director



Professor N S Scrutton FRS - Director


C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED (REGISTERED NUMBER: 12795742)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2023


1. STATUTORY INFORMATION

C3 Biotechnologies (Maritime and Aerospace) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no departures from that standard.

The Company's functional and presentational currency is GBP. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED (REGISTERED NUMBER: 12795742)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances, are
initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective
interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for
objective evidence of impairment. If an asset is impaired the impairment loss is the difference
between the carrying amount and the present value of the estimated cash flows discounted at the
asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are
transferred to another party or (c) despite having retained some significant risks and rewards of
ownership, control of the asset has been transferred to another party who has the practical ability to
unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other payables, 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
receipts discounted at a market rate of interest. Debt instruments are subsequently carried at
amortised cost, using the effective interest rate method.

Trade payables 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 payment is
due within one year or less. If not, they are presented as non-current liabilities. Trade payables are
recognised initially at transaction price and subsequently measured at amortised cost using the
effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED (REGISTERED NUMBER: 12795742)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The directors have considered the impact the current economic environment in relation to their assessment of going concern and in their opinion have taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 85,500 1,284,430
Tax 67,330 -
VAT 89,970 -
Prepayments and accrued income 50,783 27,898
293,583 1,312,328

C3 BIOTECHNOLOGIES
(MARITIME AND AEROSPACE) LIMITED (REGISTERED NUMBER: 12795742)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 248,557 428,884
Amounts owed to group undertakings 56,768 32,518
Social security and other taxes 8,743 1,176
VAT - 37,012
Accruals and deferred income 1,167,177 8,725,019
1,481,245 9,224,609

Within accruals and deferred income, is deferred income relating to the Vermeer 3 contract that the company is undertaking of £1,044,826 (2022: £8,688,510) which will be used against future allowable expenditure.

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 142,500 142,500
Between one and five years 142,500 285,000
285,000 427,500

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Antonia Aldridge-Brown FCCA (Senior Statutory Auditor)
for and on behalf of TC Group

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The controlling party is C3 Biotechnologies Limited.

The ultimate controlling party is the directors of C3 Biotechnologies Limited by virtue of their shareholdings.

The registered office is 20 Mannin Way Lancaster Business Park, Caton Road, Lancaster, Lancashire, United Kingdom, LA1 3SW.