Caseware UK (AP4) 2023.0.135 2023.0.135 The principal activity of the Company is that of development of biocatalysis process technologies.2023-01-01falsetrue4132trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC237393 2023-01-01 2023-12-31 SC237393 2022-01-01 2022-12-31 SC237393 2023-12-31 SC237393 2022-12-31 SC237393 c:Director1 2023-01-01 2023-12-31 SC237393 c:Director2 2023-01-01 2023-12-31 SC237393 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 SC237393 d:Buildings d:ShortLeaseholdAssets 2023-12-31 SC237393 d:Buildings d:ShortLeaseholdAssets 2022-12-31 SC237393 d:PlantMachinery 2023-01-01 2023-12-31 SC237393 d:PlantMachinery 2023-12-31 SC237393 d:PlantMachinery 2022-12-31 SC237393 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC237393 d:MotorVehicles 2023-01-01 2023-12-31 SC237393 d:MotorVehicles 2023-12-31 SC237393 d:MotorVehicles 2022-12-31 SC237393 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC237393 d:FurnitureFittings 2023-01-01 2023-12-31 SC237393 d:FurnitureFittings 2023-12-31 SC237393 d:FurnitureFittings 2022-12-31 SC237393 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC237393 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC237393 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 SC237393 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 SC237393 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 SC237393 d:CurrentFinancialInstruments 2023-12-31 SC237393 d:CurrentFinancialInstruments 2022-12-31 SC237393 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC237393 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC237393 d:ShareCapital 2023-12-31 SC237393 d:ShareCapital 2022-12-31 SC237393 d:SharePremium 2023-12-31 SC237393 d:SharePremium 2022-12-31 SC237393 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC237393 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC237393 c:FRS102 2023-01-01 2023-12-31 SC237393 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC237393 c:FullAccounts 2023-01-01 2023-12-31 SC237393 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC237393 d:WithinOneYear 2023-12-31 SC237393 d:WithinOneYear 2022-12-31 SC237393 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 SC237393 2 2023-01-01 2023-12-31 SC237393 6 2023-01-01 2023-12-31 SC237393 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 SC237393 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 SC237393 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 SC237393 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 SC237393 d:OtherDeferredTax 2023-12-31 SC237393 d:OtherDeferredTax 2022-12-31 SC237393 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 SC237393 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: SC237393










Ingenza Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2023

 
Ingenza Limited
Registered number: SC237393

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
53,513
71,971

Tangible assets
 5 
771,129
490,901

Investments
 6 
783,465
783,465

  
1,608,107
1,346,337

Current assets
  

Debtors: amounts falling due within one year
 7 
1,443,141
1,514,273

Cash at bank and in hand
  
780,149
1,309,381

  
2,223,290
2,823,654

Creditors: amounts falling due within one year
 8 
(1,449,157)
(2,038,786)

Net current assets
  
 
 
774,133
 
 
784,868

Total assets less current liabilities
  
2,382,240
2,131,205

  

Net assets
  
2,382,240
2,131,205


Capital and reserves
  

Called up share capital 
  
106
106

Share premium account
  
64,986
64,986

Profit and loss account
  
2,317,148
2,066,113

  
2,382,240
2,131,205


Page 1

 
Ingenza Limited
Registered number: SC237393

Balance Sheet (continued)
As at 31 December 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Ian Fotheringham
................................................
Jaymin Amin
Director
Director
Date: 24 September 2024
Date:24 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

Ingenza Limited is a private limited liability company incorporated in Scotland, registration number SC237393. The address of the registered office and principal place of business is Roslin Innovation Centre, Charnock Bradley Building, Easter Bush Campus, Bush Farm Road, Roslin, Scotland, EH25 9RG.
The financial statements are presented in sterling and rounded to the nearest £1.
The principal activity of the company is that of the development of biocatalysis process technologies.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
4
years

Page 5

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold Property Improvements
-
Over term of the lease
Plant & machinery
-
25% Straight line
Leased Bikes
-
33% Straight line
Fixtures, fittings and computer equipment
-
33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 6

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 41 (2022 - 32).


4.


Intangible assets




Patents

£



Cost


At 1 January 2023
184,202


Additions
26,737


Disposals
(31,708)



At 31 December 2023

179,231



Amortisation


At 1 January 2023
112,231


Charge for the year on owned assets
35,535


On disposals
(22,048)



At 31 December 2023

125,718



Net book value



At 31 December 2023
53,513



At 31 December 2022
71,971



Page 7

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

5.


Tangible fixed assets





Leasehold Property Improvements
Plant & machinery
Leased Bicycles
Fixtures, fittings and equipment
Total

£
£
£
£
£



Cost


At 1 January 2023
425,000
1,491,811
958
52,972
1,970,741


Additions
152,240
390,340
-
34,986
577,566


Disposals
-
(136,799)
(958)
(13,355)
(151,112)



At 31 December 2023

577,240
1,745,352
-
74,603
2,397,195



Depreciation


At 1 January 2023
368,334
1,065,192
958
45,356
1,479,840


Charge for the year on owned assets
56,666
229,686
-
10,986
297,338


Disposals
-
(136,799)
(958)
(13,355)
(151,112)



At 31 December 2023

425,000
1,158,079
-
42,987
1,626,066



Net book value



At 31 December 2023
152,240
587,273
-
31,616
771,129



At 31 December 2022
56,666
426,619
-
7,616
490,901


6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
783,465



At 31 December 2023
783,465




Page 8

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

7.


Debtors

2023
2022
£
£


Trade debtors
298,869
468,644

Amounts owed by joint ventures and associated undertakings
350,472
350,472

Other debtors
104,714
165,630

Prepayments and accrued income
467,268
216,895

Deferred taxation
221,818
312,632

1,443,141
1,514,273



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
11,214
-

Trade creditors
801,041
322,547

Other taxation and social security
55,386
61,421

Other creditors
-
87,636

Accruals and deferred income
581,516
1,567,182

1,449,157
2,038,786


Page 9

 
Ingenza Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

9.


Deferred taxation




2023


£






At beginning of year
312,632


Charged to profit or loss
(90,814)



At end of year
221,818

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(151,278)
(102,588)

Tax losses carried forward
212,125
254,249

R&D Tax Credit
160,971
160,971

221,818
312,632


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £102,801 (2022 - £68,178). Contributions totalling £Nil (2022 - £7,543) were payable to the fund at the balance sheet date.


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
-
211,154

-
211,154


12.


Controlling party

The company is controlled by the parent company, Ingenza Holdings Limited. 
The group, headed by Ingenza Holdings Limited, qualify as small as set out in section 383 of the Companies Act 2006 and is therefore eligible for exemption from preparing consolidated accounts.

Page 10