Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true46falsefalse2023-04-01No description of principal activity48false SC592928 2023-04-01 2024-03-31 SC592928 2022-04-01 2023-03-31 SC592928 2024-03-31 SC592928 2023-03-31 SC592928 c:Director1 2023-04-01 2024-03-31 SC592928 c:Director2 2023-04-01 2024-03-31 SC592928 c:Director3 2023-04-01 2024-03-31 SC592928 c:Director4 2023-04-01 2024-03-31 SC592928 c:Director5 2023-04-01 2024-03-31 SC592928 c:Director5 2024-03-31 SC592928 c:Director6 2023-04-01 2024-03-31 SC592928 c:Director6 2024-03-31 SC592928 c:Director7 2023-04-01 2024-03-31 SC592928 c:Director7 2024-03-31 SC592928 c:Director8 2023-04-01 2024-03-31 SC592928 c:Director8 2024-03-31 SC592928 c:RegisteredOffice 2023-04-01 2024-03-31 SC592928 d:Buildings 2023-04-01 2024-03-31 SC592928 d:Buildings 2024-03-31 SC592928 d:Buildings 2023-03-31 SC592928 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC592928 d:PlantMachinery 2023-04-01 2024-03-31 SC592928 d:PlantMachinery 2024-03-31 SC592928 d:PlantMachinery 2023-03-31 SC592928 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC592928 d:MotorVehicles 2023-04-01 2024-03-31 SC592928 d:MotorVehicles 2024-03-31 SC592928 d:MotorVehicles 2023-03-31 SC592928 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC592928 d:OfficeEquipment 2023-04-01 2024-03-31 SC592928 d:OfficeEquipment 2024-03-31 SC592928 d:OfficeEquipment 2023-03-31 SC592928 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC592928 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC592928 d:OtherPropertyPlantEquipment 2024-03-31 SC592928 d:OtherPropertyPlantEquipment 2023-03-31 SC592928 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC592928 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC592928 d:CurrentFinancialInstruments 2024-03-31 SC592928 d:CurrentFinancialInstruments 2023-03-31 SC592928 d:Non-currentFinancialInstruments 2024-03-31 SC592928 d:Non-currentFinancialInstruments 2023-03-31 SC592928 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC592928 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC592928 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC592928 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC592928 d:ShareCapital 2024-03-31 SC592928 d:ShareCapital 2023-03-31 SC592928 d:SharePremium 2024-03-31 SC592928 d:SharePremium 2023-03-31 SC592928 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC592928 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC592928 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC592928 c:OrdinaryShareClass1 2024-03-31 SC592928 c:OrdinaryShareClass1 2023-03-31 SC592928 c:OrdinaryShareClass2 2023-04-01 2024-03-31 SC592928 c:OrdinaryShareClass2 2024-03-31 SC592928 c:OrdinaryShareClass3 2023-04-01 2024-03-31 SC592928 c:OrdinaryShareClass3 2024-03-31 SC592928 c:FRS102 2023-04-01 2024-03-31 SC592928 c:Audited 2023-04-01 2024-03-31 SC592928 c:FullAccounts 2023-04-01 2024-03-31 SC592928 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC592928 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC592928 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC592928










AGRICARBON UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
AGRICARBON UK LIMITED
 

COMPANY INFORMATION


Directors
Mr S A Arbuckle 
Mrs A H Leeson 
Mr J M W Alexander 
Mr A J Strong 
Mrs C J Wale (resigned 23 November 2023)
Mr B Ahmad (appointed 24 November 2023)
Mrs A P J J Schoors (appointed 24 November 2023)
Mr K B Senivassen (appointed 30 November 2023)




Registered number
SC592928



Registered office
Muirloch Farm
Liff

Dundee

DD2 5NQ




Independent auditors
Sumer Auditco Limited
Chartered Accountants & Statutory Auditors

14 City Quay

Dundee

DD1 3JA





 
AGRICARBON UK LIMITED
REGISTERED NUMBER: SC592928

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,534,892
2,231,629

  
2,534,892
2,231,629

Current assets
  

Debtors: amounts falling due within one year
 5 
902,356
245,498

Bank and cash balances
  
5,589,048
395,474

  
6,491,404
640,972

Creditors: amounts falling due within one year
 6 
(948,680)
(610,358)

Net current assets
  
 
 
5,542,724
 
 
30,614

Total assets less current liabilities
  
8,077,616
2,262,243

Creditors: amounts falling due after more than one year
 7 
(147,694)
(291,599)

  

Net assets
  
7,929,922
1,970,644


Capital and reserves
  

Called up share capital 
 8 
461
313

Share premium account
  
14,500,565
5,500,840

Profit and loss account
  
(6,571,104)
(3,530,509)

  
7,929,922
1,970,644


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income and retained earnings 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 7 October 2024.




Mr A J Strong
Mrs A H Leeson
Director
Director

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
AGRICARBON UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Agricarbon UK Limited is a private company, limited by shares, incorporated in Scotland with registration number SC592928. The registered office is Muirloch Farm, Liff, Dundee, DD2 5NQ.

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 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

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
AGRICARBON UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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.

Where the company claims for research and development tax relief, the benefit is only recognised within the financial statements once the claim has been submitted and approved by HM Revenue & Customs.

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
AGRICARBON UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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 reporting date in the countries where the Company operates and generates income.

 
2.7

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:

Heritable property
-
10% straight line
Plant and machinery
-
10-50% straight line
Motor vehicles
-
20% straight line
Office equipment
-
25% straight line
Assets under construction
-
not depreciated

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
46
48

Page 4

 
AGRICARBON UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Assets under construction
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
287,090
1,564,791
259,703
49,391
429,413
2,590,388


Additions
109,999
206,107
25,910
23,582
366,702
732,300


Disposals
-
(28,611)
(14,994)
-
-
(43,605)



At 31 March 2024

397,089
1,742,287
270,619
72,973
796,115
3,279,083



Depreciation


At 1 April 2023
35,788
259,829
50,059
13,083
-
358,759


Charge for the year on owned assets
33,840
298,561
51,943
14,866
-
399,210


Disposals
-
(8,529)
(5,249)
-
-
(13,778)



At 31 March 2024

69,628
549,861
96,753
27,949
-
744,191



Net book value



At 31 March 2024
327,461
1,192,426
173,866
45,024
796,115
2,534,892



At 31 March 2023
251,302
1,304,962
209,644
36,308
429,413
2,231,629


5.


Debtors

2024
2023
£
£


Trade debtors
622,909
157,039

Other debtors
62,631
47,105

Prepayments and accrued income
216,816
41,354

902,356
245,498


Page 5

 
AGRICARBON UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
230,982
133,944

Other taxation and social security
80,889
63,042

Obligations under finance lease and hire purchase contracts
185,263
192,858

Other creditors
86,633
186,502

Accruals and deferred income
364,913
34,012

948,680
610,358



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
147,694
291,599



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,129,340 (2023 - 3,129,340) Ordinary shares shares of £0.00010 each
313
313
1,318,237 (2023 - Nil) A1 Preferred shares shares of £0.00010 each
132
-
164,444 (2023 - Nil) A2 Ordinary shares shares of £0.00010 each
16
-

461

313


During the course of the year the company issued 1,318,237 A1 Preferred £0.00010 shares and 164,444 A2 Ordinary £0.00010 shares for total consideration of £8,999,873.67.


9.


Share options

At the year end the Company held a total of 133,139 share options amongst 42 individuals (2023 - 135,639 share options amongst 28 individuals). During the year, 9,500 share options lapsed and there were 4 leavers. A further 32,639 were issued to 18 new individuals. The options are exercisable on the occurrence of an exit event, being a share sale, asset sale, an IPO or a voluntary winding up and lapse when the grantee ceasesd to work 25 hours per week or 75% of their working time as an employee or ceases to be an employee.       

Page 6

 
AGRICARBON UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 8 October 2024 by Douglas Rae (Senior statutory auditor) on behalf of Sumer Auditco Limited.


Page 7