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REGISTERED NUMBER: 09604780 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FEEDSTOCK LTD

FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FEEDSTOCK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr C Henderson
Mr L Wurfbain





REGISTERED OFFICE: 7 Savoy Court
London
WC2R 0EX





REGISTERED NUMBER: 09604780 (England and Wales)





ACCOUNTANTS: Green and Purple Limited
Building 1000
Cambridge Research Park
Waterbeach
Cambridgeshire
CB25 9PD

FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,093,291 5,950,611
Tangible assets 5 1,802 4,897
6,095,093 5,955,508

CURRENT ASSETS
Debtors 6 259,078 617,372
Prepayments and accrued income 15,290 33,071
Cash at bank 86,814 219,275
361,182 869,718
CREDITORS
Amounts falling due within one year 7 (570,664 ) (1,147,159 )
NET CURRENT LIABILITIES (209,482 ) (277,441 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,885,611

5,678,067

CREDITORS
Amounts falling due after more than one year 8 (19,167 ) (29,167 )

PROVISIONS FOR LIABILITIES (702,146 ) (711,340 )
NET ASSETS 5,164,298 4,937,560

FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 9 402 254
Share premium 6,029,634 5,480,622
Retained earnings (865,738 ) (543,316 )
SHAREHOLDERS' FUNDS 5,164,298 4,937,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 27 March 2024 and were signed on its behalf by:





Mr L Wurfbain - Director


FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. Statutory information

Feedstock Ltd 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.

Going Concern
The financial statements have been prepared on a going concern basis. The company incurred a loss before tax of £480,388 during the period. The company have prepared forecasts which take account of the impact of the macro-economic challenges and the directors are of the opinion that they should continue to adopt the going concern basis.

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

Intangible assets
Development costs are initially recognised at cost. After initial recognition they are measured at cost less any accumulated amortisation and accumulated impairment losses.

Tangible fixed assets
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulation depreciation.

Depreciation

Depreciation is provided at the following rates:

Office equipment10% reducing balance
Computer equipment25% straight line

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.


FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 11 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 January 2023 6,027,891
Additions 745,464
At 31 December 2023 6,773,355
Amortisation
At 1 January 2023 77,280
Charge for year 602,784
At 31 December 2023 680,064
Net book value
At 31 December 2023 6,093,291
At 31 December 2022 5,950,611

FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 January 2023 29,948
Disposals (4,483 )
At 31 December 2023 25,465
Depreciation
At 1 January 2023 25,051
Charge for year 2,463
Eliminated on disposal (3,851 )
At 31 December 2023 23,663
Net book value
At 31 December 2023 1,802
At 31 December 2022 4,897

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 17,428 277,531
Other debtors 241,650 339,841
259,078 617,372

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 18,196 47,784
Taxation and social security 64,500 38,870
Other creditors 477,968 1,050,505
570,664 1,147,159

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 19,167 29,167

FEEDSTOCK LTD (REGISTERED NUMBER: 09604780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. Called up share capital

Allotted, issued and fully paid:

Number Class Nominal value 31.12.2023 31.12.2022


100,000 (2022: 100,000) Ordinary 0.001 100 100
60,382 (2022: 60,382) Ordinary A 0.001 60 60
26,772 (2022: 26,772) Series Seed 0.001 27 27
3,768 (2022: 3,768) Series Seed B 0.001 4 4
55,370 (2022: 55,370) Series A 0.001 55 55
6,117 (2022: 6,117) Series A Preferred 0.001 6 6
1,800 (2022: 1,800) Ordinary B 0.001 2 2
147,644 (2022: 0) C Preferred 0.001 148 -

402 254
The following shares were issued during the period:
147,644 C Preferred shares for cash of £549,088

10. Share-based payment transactions

Share Options31.12.202331.12.2022
NumberNumber

Outstanding at the beginning of the year19,03819,238
Granted during the year1,0001,300
Exercised during the year--
Cancelled during the year(4,770)(1,500)

Outstanding at the end of the year15,26819,038



The total charge for the year relating to employee share based payment plans was £Nil (2022: £Nil) in accordance with the provisions of FRS 102 (Section 1A).

On 15 August 2017, the Company commenced the operation of an Enterprise Management Incentive scheme (EMI). At 31 December 2023 9,410 (2022: 12,410) EMI options remained in issue. These options have an exercise price of between £0.001 and £20.92 per share.