Company registration number 12720577 (England and Wales)
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,585
3,690
Tangible assets
4
1,242
1,864
6,827
5,554
Current assets
Debtors
5
376,177
37,825
Cash at bank and in hand
51,332
527,159
427,509
564,984
Creditors: amounts falling due within one year
6
(65,469)
(211,505)
Net current assets
362,040
353,479
Net assets
368,867
359,033
Capital and reserves
Called up share capital
7
198
198
Share premium account
832,128
690,018
Capital redemption reserve
10
10
Profit and loss reserves
(463,469)
(331,193)
Total equity
368,867
359,033
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 May 2025 and are signed on its behalf by:
Mr S M Pearce
Director
Company registration number 12720577 (England and Wales)
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Accumont Ltd (formerly AgBioScout Ltd) is a private company limited by shares incorporated in England and Wales. The registered office is 71-75 Shelton Street, London, Greater London, WC2H 9JQ.
1.1
Reporting period
The financial statements in the prior year covered a period of 17 months, and therefore, the comparative amounts presented in these financial statements are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discount.
Revenue is recognised over the period of service when, and to the extent that, the company obtains the rights to consideration in exchange for the service provided.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Website
10% Straight Line
1.5
Tangible fixed assets
Tangible fixed assets are measured at cost, 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:
Computers
25% Straight Line
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
10
3
Intangible fixed assets
Website
£
Cost
At 1 January 2024
4,100
Additions
2,385
At 31 December 2024
6,485
Amortisation and impairment
At 1 January 2024
410
Amortisation charged for the year
490
At 31 December 2024
900
Carrying amount
At 31 December 2024
5,585
At 31 December 2023
3,690
4
Tangible fixed assets
Computers
£
Cost
At 1 January 2024 and 31 December 2024
2,487
Depreciation and impairment
At 1 January 2024
623
Depreciation charged in the year
622
At 31 December 2024
1,245
Carrying amount
At 31 December 2024
1,242
At 31 December 2023
1,864
ACCUMONT LTD (FORMERLY AGBIOSCOUT LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
299,028
22,358
Other debtors
4,571
299,028
26,929
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note )
77,149
10,896
Total debtors
376,177
37,825
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
55,347
194,617
Taxation and social security
6,186
7,007
Other creditors
999
7,193
Accruals and deferred income
2,937
2,688
65,469
211,505
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
19,831
19,831
198
198