Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
COMPANY INFORMATION
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MOA TECHNOLOGY LIMITED
CONTENTS
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MOA TECHNOLOGY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present the Strategic Report for the year ended 31 December 2024.
The principal activity of Moa Technology Limited ("the Company") is the research and development of new agricultural herbicides.
The Company’s purpose is to discover and develop safe, effective and affordable herbicides to help farmers globally to protect their harvests, with the goal of becoming the leading innovator for the crop protection industry. The key factor determining the Company’s success is its ability to discover multiple molecules which have novel herbicidal modes of action, meaning that they can impede weed growth in ways that are completely different to existing commercial herbicides and are thus capable of breaking herbicide resistance. Spun out of Oxford University in 2017, the Company has developed a significant body of IP, including its GALAXY platform which carries out high-throughput screening of synthetic and naturally occurring chemical compounds to identify those with potential novel herbicidal mode of action. Having screened to date over 750,000 synthetic and naturally occurring compounds, GALAXY has identified 70 novel mode of action areas. Three of these modes of action have already successfully progressed through further evaluation by the Company’s other platforms in its Oxford laboratories and testing at the Company’s glasshouse facility. In H2 2024, all three advanced programmes entered their first season of field trials in the US, UK, Spain and France, in which strong and consistent evidence of herbicidal effectiveness was recorded. Further rounds of international field trials are planned for 2025. In July 2024, the Company entered into its first major commercial agreement, with Nufarm, a leading global manufacturer and distributor of agricultural products. The deal provides Nufarm with exclusive access to a new mode of action product in one of the Company's advanced programmes. Moa will receive upfront payments, milestone development payments and eventual royalties from sales of the herbicide. Nufarm will also exclusively retain the option to commercialise other Moa compounds from the same mode of action area. Nufarm and the Company will be jointly responsible for steering the new mode of action through the research phase, expected to take around two years. The Company’s management believes that a licensing model, in which the Company receives a combination of upfront payments, milestone payments and royalty payments from commercial partners in exchange for the rights to develop and commercialise its new modes of action, represents the most profitable and capital efficient route to market. The Company has also seen significant interest from potential commercial partners wishing to collaborate on product development at an even earlier stage, leveraging the Company’s proprietary platforms, data and R&D expertise, which could lead to additional revenue streams in the short to mid-term.
Regulatory risk
The agricultural crop protection industry is highly regulated and appropriate regulatory approvals must be gained before new products can be launched into the market. New product registration processes require extensive human and environmental safety studies and can take several years. While the Company rigorously screens its products for toxicity from a very early stage in the R&D process, long term studies are essential to ensure that farmers and consumers have complete confidence in the safety of the products, and that the environmental impact is minimal. Intellectual Property (IP) risk Safeguarding proprietary discoveries is crucial. Moa has implemented robust IP protection strategies to maintain its competitive advantage through a combination of patents, trade secrets and know how. Economic and Financial risks The Company will require periodic capital investment to support its R&D activities until it is cash flow positive. Financial risk management The principal financial risks to which the Company are exposed are discussed below.
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MOA TECHNOLOGY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Currency risks
The Company’s revenue to date has been in US Dollars and future equity raises may also be in US Dollars but we pay for goods and services in a variety of currencies, mainly pound sterling, US Dollar, Euro and Australian Dollar. The Company mitigates the risk by holding cash in a variety of currencies and by monitoring the fluctuations in the exchange rates, taking advantage of favourable market conditions. Liquidity risks The Company holds some cash in term deposit accounts. Management monitors rolling forecasts of the Company's expected cash flows with the objective of ensuring that the Company has sufficient cash on hand to meet all its future obligations. As of 31 December 2024, the Company has net cash of £11.4m. Credit risk Investments of cash surpluses are made through banks which must fulfil credit rating criteria approved by the board. All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary. Competition risks There is a risk that new entrants could enter the market and reduce future profit potential for the Company. To reduce this risk the Company has patented its GALAXY and TARGET platforms and remains firmly focused on its commercial goals. Supply Chain risks The Company has a procurement system in place to ensure that product levels are monitored and remain at a consistent level. Key consumables are managed through a preferred supplier list to help ensure the Company can benefit from stable prices and economies of scale. The risk is further reduced by setting up standing orders with companies and putting in place contracts with suppliers which are most critical to our operations. This ensures our supply remains stable and as per the agreed terms of the contract. Compliance risks The Company uses a variety of resources to ensure compliance regulations are adhered to. The Company is required to appoint a Biological Safety Officer (BSO), conduct, and review regular risk assessments, appoint a Health and Safety and a GM Safety Committee, and to hold health and safety and GM safety review sessions. We also work with an experienced Health and Safety organisation to help with our approval requirements and conduct external audits of our processes, procedures and facilities. The Company is required to follow the HSE GMO Contained Regulations 2014 and has plant phytosanitary requirements from APHA and Defra to adhere to. Product Pipeline There is a risk that anticipated income from our platform and pipeline technology could be delayed. The Company has established clear goals to ensure the transition to a commercial Company is successful. The Company has invested in people and created new roles to facilitate this. Government risks There is a risk that the Government could reduce the scope or revoke the R&D tax credit scheme that the Company currently benefits from. This is regularly monitored so that any changes can be managed.
The main financial KPIs are revenue and cost tracking versus budget, whilst the main non-financial KPI's are progress tracking regarding completion of Company strategic milestones.
Revenue for FY24 was £1.9m due to our first major commercial deal, signed with Nufarm in July 2024. Moa received $4m (USD) in FY24 from Nufarm and recognised revenue of £1.9m, with the balance of £1.2m recognised as deferred income, to be recognised as revenue in FY25. Costs are tracked continuously over time (full monthly closing) to be able to identify any deviations early. The directors consider the results for the year ended 31 December 2024 as expected and in line with budget expectations. The Company utilised 96% of its annual budget in 2024 with 84% being spent on research and development expenses. The remainder of the costs were spent on general and administrative expenses. The Company's loss for the year, after taxation, amounted to £10.8m (FY23: £12.3m). The net assets of the Company total £12.2m (FY23: £22.2m).
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MOA TECHNOLOGY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company broadly achieved all its strategic milestones for FY24, signing a first major commercial deal, bringing three novel mode-of-action herbicides through successful international field trials and expanding the capabilities of our herbicide discovery platform. Section 172(1) Companies Act 2006 The directors confirm that they have acted in good faith in the way they consider what would be most likely to promote the success of the Company for the benefit of its members. In doing so they have considered, among other matters, those set out in section 172(1) (a) to (f) of the Companies Act 2006: the likely consequences of any decision in the long term; the interests of the Company's employees; the need to foster the Company's business relationships with suppliers, customers and others; the impact of the Company's operations on the community and the environment; the desirability of the Company maintaining a reputation for high standards of business conduct; and the need to act fairly as between members of the Company. This statement applies equally to the directors individually and when acting collectively as the board. In discharging their duties in relation to section 172 (1), careful consideration is given to the matters set out above. The stakeholders we consider in this regard are primarily employees, suppliers and customers, the communities we operate in, the wider world and environment. Engagement with our shareholders and all stakeholders is of fundamental importance across the business and the directors are focused on building these relationships on a continuous basis. Communities Our purpose is to support the agricultural community by empowering farmers to protect their harvests. In doing so, the Company will support the wider community by helping ensure affordable food security for all. The Company also provides skilled employment at different levels of experience and qualification, offering opportunities to individuals from a wide diversity of backgrounds to develop to their full potential. These include year-long industry sandwich placements and summer internships to give university students experience of working in a professional research laboratory, and short work experience placements to school-age children. Environment The Company aims to make its biggest impact on the environment by helping farmers meet rising global food demand by increasing yield from their existing land, rather than converting more land to agricultural use. The Company estimates that avoided land use change from future Moa herbicides could annually save as much as 600 million tonnes of CO2e and over 2 million hectares of nature loss. The Company also aims to reduce the impact of its own business operations on the environment. It set up an internal Green Team in 2024 which has partnered with the MyGreenLab scheme to benchmark and help reduce the impact of our laboratories on the environment, achieving Gold certification in our first year of participation. In 2024 the Company also measured its CO2e emissions for the 1st time, working with Positive Planet. In 2024 we recorded no Scope 1 or Scope 2 emissions and 2,325 tonnes CO2e in Scope 3 emissions (32 tonnes per FTE). We are formulating a plan to reduce our emissions intensity and will set out longer term targets during 2025. Engagement with employees Our employees are critical to the success of our business, and we are committed to helping them develop their full potential while working together to fulfil the Company’s purpose. The Company encourages two-way participation from all personnel and conducts quarterly anonymous workplace surveys to gather feedback and measure employee sentiment so that any concerns can be quickly addressed. Employee development Continuous learning is essential to achieving the Company’s goals, and to that end the Company encourages all employees to develop their professional skills, whether by studying for advanced degrees, on the job practical training, attendance at academic and industry conferences, or participating in the Company’s mentorship programme.
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MOA TECHNOLOGY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board and signed on its behalf.
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MOA TECHNOLOGY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present their report and the financial statements for the year ended 31 December 2024.
The Directors who served during the year were:
The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
There have been no significant events affecting the Company since the year end.
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MOA TECHNOLOGY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditor, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
The loss for the year, after taxation, amounted to £10,769,678 (2023 - loss £12,288,997).
This report was approved by the board and signed on its behalf.
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MOA TECHNOLOGY LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MOA TECHNOLOGY LIMITED
We have audited the financial statements of MoA Technology Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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MOA TECHNOLOGY LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MOA TECHNOLOGY LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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MOA TECHNOLOGY LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MOA TECHNOLOGY LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims;
∙Enquiry of management and those charged with governance to identify any material instances of non compliance with laws and regulations;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditor
201 Cumnor Hill
Cumnor Hill
Oxfordshire
OX2 9GG
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MOA TECHNOLOGY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
REGISTERED NUMBER: 10895764
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 29 form part of these financial statements.
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MOA TECHNOLOGY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
MOA Technology Limited is a private company limited by share capital and incorporated in England and
Wales. The Company's registered office is The Bellhouse Building, The Magdalen Centre, The Oxford Science Park, 1 Robert Robinson Avenue, Oxford, United Kingdom, OX4 4GA The Company's principal activity is Research and Development in the field of sustainable herbicides. The comparative figures are for a 16 month period and are therefore not comparable.
2.Accounting policies
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
During the year Moa Technology Limited made a pre tax loss of £12,671,504 (2023: £14,882,080) and had net assets at 31 December 2024 of £12,158,397 (2023: £22,164,739) including cash and cash equivalents of £11,424,689 (2023: £18,945,033).
The Company is several years away from profitability and will rely on equity funding in the period prior to profitability. The Company last raised equity financing in a Series B financing round closed in May 2022. The Directors intend to raise further equity financing through a Series C round in 2025. The Directors have prepared budgets and forecasts assessing the required resources to continue in operational existence for the foreseeable future. The Directors consider these budgets and forecasts to be achievable, however, the Directors have considered alternative scenarios which continue to demonstrate the Company remaining cash positive for a period of at least 12 months from the approval of these financial statements. The Directors, therefore, continue to prepare the financial statements on the going concern basis.
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
Amortisation is provided on the following bases:
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:
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.
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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 the deduction of all its liabilities.
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the assets and projected disposal values. Share based payment The fair value of the share options at the date of grant is determined using the Black-Scholes model. This model uses key assumptions including the risk free rate, share price and volatility of the share price. The fair value of the options at the date of grant is then charged to the Consolidated Statement of Comprehensive Income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Balance Sheet date so that ultimately the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Stage of completion The Company makes an assessment of its future performance obligations and the extent to which the costs incurred represent the value attributable to revenue. Due to the early stage of contracts, there is some uncertainty as to the stage of progress towards satisfaction of the performance obligations.
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of turnover by country of destination:
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MOA TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 £266,696 (2023 :£192,202) . Contributions totalling £51,583 (2023: £Nil) were payable to the fund at the balance sheet date and are included in creditors.
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