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Registered number: 11246890
Lambda Energy Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Niall Haughian
Iain Beath
Monica Saavedra
Company Number 11246890
Registered Office Crop Technology Southern Innovation Hub
College Road
Cranfield
Beds
MK43 0AL
Accountants HJP Chartered
Audley House
Northbridge Road
Berkhamsted
Herts
HP4 1EH
Page 1
Page 2
Balance Sheet
Registered number: 11246890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 391,622 190,755
Tangible Assets 5 1,594 8,284
393,216 199,039
CURRENT ASSETS
Debtors 6 173,800 109,597
Cash at bank and in hand 36,872 2,191
210,672 111,788
Creditors: Amounts Falling Due Within One Year 7 (151,162 ) (459,854 )
NET CURRENT ASSETS (LIABILITIES) 59,510 (348,066 )
TOTAL ASSETS LESS CURRENT LIABILITIES 452,726 (149,027 )
Creditors: Amounts Falling Due After More Than One Year 8 (23,130 ) (45,690 )
NET ASSETS/(LIABILITIES) 429,596 (194,717 )
CAPITAL AND RESERVES
Called up share capital 9 308 239
Share premium account 937,400 509,756
Profit and Loss Account (508,112 ) (704,712 )
SHAREHOLDERS' FUNDS 429,596 (194,717)
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For the year ending 31 March 2024 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
Niall Haughian
Director
19 July 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Lambda Energy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11246890 . The registered office is Crop Technology Southern Innovation Hub, College Road, Cranfield, Beds, MK43 0AL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Presentation currency
The accounts are presented in GBP sterling.
2.2. Going Concern Disclosure
The directors are happy that the company is operating as a going concern, due to the high likeliness of future government grants. 
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets (including purchased goodwill and patents but excluding Research and Development) are included at cost less accumulated amortisation. The amortisation rate is calculated on a 25% straight line basis.
2.5. Research and Development
There is an intangible asset for Research and Development costs incurred within the accounting period, capitalised under S1308 CTA 2009. The directors are satisfied that all relevant criteria have been met under both S1308 CTA 2009 and FRS 102 section 18.  It is being amortised on a 10% straight line basis as the useful life can not be reliably measured, as per FRS 102 section 18.20.
This is a policy change commencing period ended 31 March 2023. Prior to this, Research and Development had been expensed in the year it occurred.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 50% Reducing Balance
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2.7. Taxation
Deferred Tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
A Deferred Tax Asset has not been provided for, as unrelieved tax losses are not able to be reliably measured against expected future income at this point.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 214,387
Additions 251,249
As at 31 March 2024 465,636
Amortisation
As at 1 April 2023 23,632
Provided during the period 50,382
As at 31 March 2024 74,014
Net Book Value
As at 31 March 2024 391,622
As at 1 April 2023 190,755
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 28,956 18,145 47,101
Additions 1,877 - 1,877
As at 31 March 2024 30,833 18,145 48,978
...CONTINUED
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Depreciation
As at 1 April 2023 24,831 13,986 38,817
Provided during the period 4,408 4,159 8,567
As at 31 March 2024 29,239 18,145 47,384
Net Book Value
As at 31 March 2024 1,594 - 1,594
As at 1 April 2023 4,125 4,159 8,284
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 173,800 109,597
Included within Other Debtors for period ended 31 March 2024 is taxation of £(35,333) which reflects the Research and Development tax credit from the accounting periods ending:
- 31 March 2024 (£35,333)
Included within Other Debtors for period ended 31 March 2023 is taxation of £(64,476) which reflects the Research and Development tax credits from the accounting periods ending:
- 31 March 2022 (£42,929)
- 31 March 2023 (£21,547)
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,560 4,332
Trade creditors 96,879 95,626
Other creditors 33,068 359,896
Taxation and social security 13,655 -
151,162 459,854
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 23,130 45,690
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 308 239
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