Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01false2525truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08919085 2023-01-01 2023-12-31 08919085 2023-12-31 08919085 2022-01-01 2022-12-31 08919085 2022-12-31 08919085 c:Director3 2023-01-01 2023-12-31 08919085 d:PlantMachinery 2023-01-01 2023-12-31 08919085 d:PlantMachinery 2023-12-31 08919085 d:PlantMachinery 2022-12-31 08919085 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08919085 d:MotorVehicles 2023-01-01 2023-12-31 08919085 d:MotorVehicles 2023-12-31 08919085 d:MotorVehicles 2022-12-31 08919085 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08919085 d:FurnitureFittings 2023-01-01 2023-12-31 08919085 d:FurnitureFittings 2023-12-31 08919085 d:FurnitureFittings 2022-12-31 08919085 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08919085 d:OfficeEquipment 2023-01-01 2023-12-31 08919085 d:OfficeEquipment 2023-12-31 08919085 d:OfficeEquipment 2022-12-31 08919085 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08919085 d:ComputerEquipment 2023-01-01 2023-12-31 08919085 d:ComputerEquipment 2023-12-31 08919085 d:ComputerEquipment 2022-12-31 08919085 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08919085 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08919085 d:CurrentFinancialInstruments 2023-12-31 08919085 d:CurrentFinancialInstruments 2022-12-31 08919085 d:Non-currentFinancialInstruments 2023-12-31 08919085 d:Non-currentFinancialInstruments 2022-12-31 08919085 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08919085 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08919085 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08919085 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08919085 d:ShareCapital 2023-12-31 08919085 d:ShareCapital 2022-12-31 08919085 d:SharePremium 2023-12-31 08919085 d:SharePremium 2022-12-31 08919085 d:RetainedEarningsAccumulatedLosses 2023-12-31 08919085 d:RetainedEarningsAccumulatedLosses 2022-12-31 08919085 c:FRS102 2023-01-01 2023-12-31 08919085 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08919085 c:FullAccounts 2023-01-01 2023-12-31 08919085 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 08919085













Calysta (UK) Ltd

Financial statements
Information for filing with the registrar

31 December 2023




 
Calysta (UK) Ltd


Balance sheet
At 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,385,245
3,656,227

  
3,385,245
3,656,227

Current assets
  

Debtors
 5 
1,025,610
1,678,709

Cash at bank and in hand
  
501,687
559,230

  
1,527,297
2,237,939

Creditors: amounts falling due within one year
 6 
(2,192,202)
(4,377,228)

Net current liabilities
  
 
 
(664,905)
 
 
(2,139,289)

Total assets less current liabilities
  
2,720,340
1,516,938

Creditors: amounts falling due after more than one year
 7 
(1,125,656)
(940,955)

  

Net assets
  
1,594,684
575,983


Capital and reserves
  

Called up share capital 
  
1
1

Share premium account
  
9,201,020
9,201,020

Profit and loss account
  
(7,606,337)
(8,625,038)

Shareholders' funds
  
1,594,684
575,983


1

 
Calysta (UK) Ltd

    
Balance sheet (continued)
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 on 26 September 2024.




Blake Campbell
Director

Company registered number: 08919085
The notes on pages 3 to 7 form part of these financial statements.



2

 
Calysta (UK) Ltd
 
 

Notes to the financial statements
Year ended 31 December 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Third Floor Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

  
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.
Service revenue relates to an intercompany services agreement, effective as of 1 January 2019, between the company and its parent, Calysta Inc. The intercompany service agreement exists in the form of a pre-arranged mark-up of 10% on associated costs incurred.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

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.

3

 
Calysta (UK) Ltd
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

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, as follows:.

Depreciation is provided on the following basis:

Leasehold improvements
-
over remaining lease period
Plant and machinery
-
5% - 20% Straight Line
Fixtures and fittings
-
33% Straight Line
Lab equipment
-
20% Straight Line
Leased assets
-
over remaining lease period

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.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

  
2.7

Government grants

Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

  
2.8

Employee benefits

The company provides share-based payment arrangements to certain employees, directors, advisors and consultants. Equity-settled arrangements are measured at fair value at the date of grant. The fair value is expensed over the vesting period.
The company has no cash-settled arrangements.

4

 
Calysta (UK) Ltd
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 25).

5

 
Calysta (UK) Ltd
 
 

Notes to the financial statements
Year ended 31 December 2023

4.


Tangible fixed assets





Plant and machinery
Lab equipment
Fixtures and fittings
Leasehold imp'ments
Leased assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
6,549,718
714,473
69,360
141,915
668,820
8,144,286


Additions
-
17,336
-
34,701
845,315
897,352


Disposals
-
-
-
-
(397,212)
(397,212)



At 31 December 2023

6,549,718
731,809
69,360
176,616
1,116,923
8,644,426



Depreciation


At 1 January 2023
3,681,634
587,678
59,212
47,865
111,670
4,488,059


Charge for the year
616,945
51,355
6,952
25,840
133,903
834,995


Disposals
-
-
-
-
(63,873)
(63,873)



At 31 December 2023

4,298,579
639,033
66,164
73,705
181,700
5,259,181



Net book value



At 31 December 2023
2,251,139
92,776
3,196
102,911
935,223
3,385,245



At 31 December 2022
2,868,084
126,795
10,148
94,050
557,150
3,656,227

6

 
Calysta (UK) Ltd
 
 

Notes to the financial statements
Year ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
34,539
538,627

Amounts owed by group undertakings
285,276
285,276

Other debtors
248,484
197,594

Tax recoverable
457,311
657,212

1,025,610
1,678,709



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
154,281
109,252

Amounts owed to group undertakings
1,312,738
3,521,543

Other taxation and social security
79,678
82,668

Obligations under finance lease and hire purchase contracts
158,318
119,945

Other creditors
487,187
543,820

2,192,202
4,377,228



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
776,905
437,205

Government grants received
348,751
503,750

1,125,656
940,955





8.


Related party transactions

During the year the company operated an intercompany loan account with Calysta Inc. The balance due due to Calysta Inc at 31 December 2023 was £1,312,738 (2022: £3,521,543). This loan is unsecured, interest free and repayable on demand. The company also engaged in transactions with Calysseo (Chongqing) Company Limited, a Chinese company which is connected. The balance owing to the company at 31st December 2023 was £34,539 (2022: £538,627).

 
7