IRIS Accounts Production v24.2.0.383 12522090 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 0.010 0.010 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125220902023-03-31125220902024-03-31125220902023-04-012024-03-31125220902022-03-31125220902022-04-012023-03-31125220902023-03-3112522090ns15:EnglandWales2023-04-012024-03-3112522090ns14:PoundSterling2023-04-012024-03-3112522090ns10:Director12023-04-012024-03-3112522090ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3112522090ns10:SmallEntities2023-04-012024-03-3112522090ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3112522090ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3112522090ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3112522090ns10:FullAccounts2023-04-012024-03-3112522090ns10:OrdinaryShareClass12023-04-012024-03-31125220901ns10:OrdinaryShareClass12023-04-012024-03-3112522090ns10:Director22023-04-012024-03-3112522090ns10:Director32023-04-012024-03-3112522090ns10:Director42023-04-012024-03-3112522090ns10:Director52023-04-012024-03-3112522090ns10:CompanySecretary12023-04-012024-03-3112522090ns10:RegisteredOffice2023-04-012024-03-3112522090ns5:CurrentFinancialInstruments2024-03-3112522090ns5:CurrentFinancialInstruments2023-03-3112522090ns5:Non-currentFinancialInstruments2024-03-3112522090ns5:Non-currentFinancialInstruments2023-03-3112522090ns5:ShareCapital2024-03-3112522090ns5:ShareCapital2023-03-3112522090ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3112522090ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3112522090ns5:RetainedEarningsAccumulatedLosses2024-03-3112522090ns5:RetainedEarningsAccumulatedLosses2023-03-3112522090ns5:ComputerEquipment2023-04-012024-03-3112522090ns5:ComputerEquipment2023-03-3112522090ns5:ComputerEquipment2024-03-3112522090ns5:ComputerEquipment2023-03-3112522090ns5:CostValuation2023-03-3112522090ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3112522090ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3112522090ns5:Non-currentFinancialInstruments2023-04-012024-03-3112522090ns10:OrdinaryShareClass12024-03-311252209012023-04-012024-03-31
















4RDIGITAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024






4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

4RDIGITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: M A Kattenhorn
N Hughes
D P Janes
J J Kattenhorn
J M Ridley





SECRETARY: Bird & Bird Company Secretaries Limited





REGISTERED OFFICE: 12 New Fetter Lane
London
EC4A 1JP





REGISTERED NUMBER: 12522090 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,185 7,691
Investments 5 760 760
12,945 8,451

CURRENT ASSETS
Debtors 6 400,722 267,149
Cash at bank and in hand 905,352 416,833
1,306,074 683,982
CREDITORS
Amounts falling due within one year 7 967,553 481,986
NET CURRENT ASSETS 338,521 201,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,466

210,447

CREDITORS
Amounts falling due after more than one
year

8

-

(429,033

)

PROVISIONS FOR LIABILITIES (3,046 ) -
NET ASSETS/(LIABILITIES) 348,420 (218,586 )

CAPITAL AND RESERVES
Called up share capital 9 9 9
Share option reserve 2,680 -
Retained earnings 345,731 (218,595 )
SHAREHOLDERS' FUNDS 348,420 (218,586 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)

BALANCE SHEET - continued
31ST MARCH 2024


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 20th November 2024 and were signed on its behalf by:





D P Janes - Director


4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)

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

1. STATUTORY INFORMATION

4RDigital Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about 4RDigital Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured as the fair value of licence fee income and technical services receivable.

Licence fees are recognised for the use of Intellectual property. A perpetual Licence has been granted to a group company, however, the directors consider that the income should be spread over a useful life of 5 years. The initial consideration (exclusive of VAT) is payable in two equal instalments and released over the life of the licence. The first instalment was received in the year to 31 March 2024. The second instalment is receivable on the next financing round.

Technical services is income receivable from group company for technology services in line with the intra group agreement.

Income received in advance of the date of when the service is performed is recognised as a liability within deferred income.

Other income

Grant income is recognised against expenditure incurred, with income deferred/accrued accordingly.

Management service income is receivable from a group company in line with the intra-group services agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost


4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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 11 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2023 12,418
Additions 10,131
Disposals (1,311 )
At 31st March 2024 21,238
DEPRECIATION
At 1st April 2023 4,727
Charge for year 5,364
Eliminated on disposal (1,038 )
At 31st March 2024 9,053
NET BOOK VALUE
At 31st March 2024 12,185
At 31st March 2023 7,691

4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023
and 31st March 2024 760
NET BOOK VALUE
At 31st March 2024 760
At 31st March 2023 760

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 258,845 132,607
RDEC notional tax 21,238 19,566
RDEC debtor 95,130 51,932
SME R&D tax credit - 28,804
VAT - 21,589
Prepayments and accrued income 25,509 12,651
400,722 267,149

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 42,932 59,746
Social security and other taxes 26,220 26,171
VAT 50,982 -
Other creditors 3,139 3,230
Pension 21,471 -
Accruals and deferred income 822,809 392,839
967,553 481,986

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 429,033

During the financial year a £400,000 convertible loan with interest accruing at 6% was novated to the subsidiary company, Carbon Value Exchange Ltd.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90,750 Ordinary 0.000 1 9 9

750 Ordinary shares of 0.0001 each were allotted and fully paid for cash at par during the year.

4RDIGITAL LIMITED (REGISTERED NUMBER: 12522090)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

9. CALLED UP SHARE CAPITAL - continued

During the year the A ordinary, B ordinary, C ordinary and D ordinary shares were re-designated as ordinary shares. Also, during the year, the 900 ordinary shares issued at a par value of £0.01 were subdivided to 90,000 ordinary shares at a par value of £0.0001.

10. POST BALANCE SHEET EVENTS

On 22 April 2024 14,000 shares were repurchased by the company and cancelled, reducing the issued shares to 76,750 ordinary shares.

On 24 June 2024, 167 share options were converted into 167 ordinary shares and were issued at a par value of £0.0001.

11. SHARE BASED PAYMENT TRANSACTIONS

The company operates an approved EMI scheme for some employees, where they are granted share options in the company.

The options are granted with a fixed exercise price and are exercisable subject to various events occurring or after 9.5 years after the date of grant.

They may lapse subject to various events occurring or ten years after the date of grant. Employees are not entitled to dividends until the shares are exercised. They are required to remain in employment with the company until exercise, otherwise the options lapse. On exercise of the options by the employees, the company will issue ordinary shares. A reconciliation of the share option movement over the period to 31 March 2024 is shown below:




No
Exercise
price£
Granted 8,200 0.0001
Forfeited - -




ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
4RDIGITAL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 4RDigital Limited for the year ended 31st March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of 4RDigital Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 4RDigital Limited and state those matters that we have agreed to state to the Board of Directors of 4RDigital Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 4RDigital Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 4RDigital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 4RDigital Limited. You consider that 4RDigital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 4RDigital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


20th November 2024