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Company Registration No. 07575896 (England and Wales)
Weeding Technologies Limited Unaudited accounts for the period from 1 January 2023 to 30 December 2023
Weeding Technologies Limited Unaudited accounts Contents
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Weeding Technologies Limited Company Information for the period from 1 January 2023 to 30 December 2023
Directors
L P de Montaignac Dr R D Wylie M Hutchinson LCIF Representatives Limited
Company Number
07575896 (England and Wales)
Registered Office
3 Fortune Way London NW10 6UF England
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Weeding Technologies Limited Statement of financial position as at 30 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,215 
2,954 
Current assets
Inventories
504,232 
756,035 
Debtors
632,304 
784,533 
Cash at bank and in hand
12,749 
81,290 
1,149,285 
1,621,858 
Creditors: amounts falling due within one year
(1,751,642)
(1,927,006)
Net current liabilities
(602,357)
(305,148)
Total assets less current liabilities
(600,142)
(302,194)
Creditors: amounts falling due after more than one year
(1,168,275)
(345,659)
Net liabilities
(1,768,417)
(647,853)
Capital and reserves
Called up share capital
11,736 
11,411 
Share premium
16,047,680 
15,836,726 
Profit and loss account
(17,827,833)
(16,495,990)
Shareholders' funds
(1,768,417)
(647,853)
For the period ending 30 December 2023 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.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by
L P de Montaignac Director Company Registration No. 07575896
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Weeding Technologies Limited Notes to the Accounts for the period from 1 January 2023 to 30 December 2023
1
Statutory information
Weeding Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 07575896. The registered office is 3 Fortune Way, London, NW10 6UF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
During the year, the Company made a loss. As at 31 December 2023, the Company had net current liabilities of £602k and gross cash in hand of £12.8k supplemented by an overdraft. The company raised £220k by way of a share issue in November 2023. The Company has raised £800k by way of a convertible loan note in December 2023. This enabled the Company to repay all CBIL loans and some other loans and provide fresh working capital. Management have considered the Companys financial performance since the balance sheet date and have prepared cash flow projections , which indicates that additional finance needs to be raised to provide the Company with the resources to execute its strategy and ensure that the Company can continue to operate as a going concern. During 2024 the company raised £807k by way of a share issue and £300k through a shareholder loan. As of March 2025, the Company was in the process of raising £200k by way of a share issue which was expected to close by the end of Apr 2025. Cash flow projections inherently involve several judgments and assumptions as to existing and future product performance. Management and is confident that the financing received subsequent to the year end and in the process of being raised will provide the Company with sufficient resources to continue to operate. The requirement for additional investment and the ability to deliver on the projections themselves are conditions that indicate the existence of material uncertainties, which may cast significant doubt about the Companys ability to continue as a going concern. Nevertheless, after considering the uncertainties described above, the directors have a reasonable expectation that the Company can continue in operational existence for the foreseeable future. It is on this basis that the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern.
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Weeding Technologies Limited Notes to the Accounts for the period from 1 January 2023 to 30 December 2023
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from the rental of machines is recognised on a straight line basis over the rental period.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant & machinery
3/5 years
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct purchases and, where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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Weeding Technologies Limited Notes to the Accounts for the period from 1 January 2023 to 30 December 2023
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial labilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Pension costs
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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Weeding Technologies Limited Notes to the Accounts for the period from 1 January 2023 to 30 December 2023
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using observable market price, independent fair valuation or other valuation method that that uses market data to the greatest extent practicable to estimate what the price of those equity instruments would be. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity. When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value. Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
266,642 
Additions
1,854 
At 30 December 2023
268,496 
Depreciation
At 1 January 2023
263,688 
Charge for the period
2,593 
At 30 December 2023
266,281 
Net book value
At 30 December 2023
2,215 
At 31 December 2022
2,954 
5
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
318,983 Ordinary shares of £0.01 each
3,189.83 
3,189.83 
625,327 A Ordinary of £0.01 each
6,253.27 
6,253.27 
229,314 B Ordinary of £0.01 each
2,293.14 
1,967.64 
11,736.24 
11,410.74 
Shares issued during the period:
32,550 B Ordinary of £0.01 each
325.50 
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Weeding Technologies Limited Notes to the Accounts for the period from 1 January 2023 to 30 December 2023
6
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
40,824 
102,765 
Later than one year and not later than five years
- 
40,824 
40,824 
143,589 
7
Transactions with related parties
At the year-end, an amount of £60,000 (2022: £30,000) was owed to key management personal and £78,792 (2022: £78,792) to connected parties.
8
Post balance sheet events
During 2024 the company raised £807k by way of a share issue and £300k through a shareholder loan. As of March 2025, the Company was in the process of raising £200k by way of a share issue which was expected to close by the end of Apr 2025.
9
Average number of employees
During the period the average number of employees was 12 (2022: 16).
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