Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-212024-01-01falseNo description of principal activity20truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13780661 2024-01-01 2024-12-31 13780661 2023-01-01 2023-12-31 13780661 2024-12-31 13780661 2023-12-31 13780661 2023-01-01 13780661 1 2024-01-01 2024-12-31 13780661 d:CompanySecretary1 2024-01-01 2024-12-31 13780661 d:Director1 2024-01-01 2024-12-31 13780661 d:Director2 2024-01-01 2024-12-31 13780661 d:Director3 2024-01-01 2024-12-31 13780661 d:Director4 2024-01-01 2024-12-31 13780661 d:RegisteredOffice 2024-01-01 2024-12-31 13780661 c:ComputerEquipment 2024-01-01 2024-12-31 13780661 c:ComputerEquipment 2024-12-31 13780661 c:ComputerEquipment 2023-12-31 13780661 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13780661 c:CurrentFinancialInstruments 2024-12-31 13780661 c:CurrentFinancialInstruments 2023-12-31 13780661 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 13780661 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 13780661 c:ShareCapital 2024-01-01 2024-12-31 13780661 c:ShareCapital 2024-12-31 13780661 c:ShareCapital 2023-12-31 13780661 c:ShareCapital 2023-01-01 13780661 c:SharePremium 2024-01-01 2024-12-31 13780661 c:SharePremium 2024-12-31 13780661 c:SharePremium 2023-12-31 13780661 c:SharePremium 2023-01-01 13780661 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 13780661 c:RetainedEarningsAccumulatedLosses 2024-12-31 13780661 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13780661 c:RetainedEarningsAccumulatedLosses 2023-12-31 13780661 c:RetainedEarningsAccumulatedLosses 2023-01-01 13780661 d:OrdinaryShareClass1 2024-01-01 2024-12-31 13780661 d:OrdinaryShareClass1 2024-12-31 13780661 d:OrdinaryShareClass1 2023-12-31 13780661 d:FRS102 2024-01-01 2024-12-31 13780661 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13780661 d:FullAccounts 2024-01-01 2024-12-31 13780661 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13780661 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13780661 (England and Wales)














INGREDIFIND LIMITED
UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


 
INGREDIFIND LIMITED
 

 
COMPANY INFORMATION


Directors
N C P White 
M C White 
R G Bearden Jr 
J J Andrews 




Company secretary
Bird & Bird Company Secretaries Limited



Registered number
13780661



Registered office
12 New Fetter Lane

London

United Kingdom

EC4A 1JP




Accountants
ZEDRA Corporate Reporting Services (UK) Limited






 
INGREDIFIND LIMITED
 


CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 8



 
INGREDIFIND LIMITED
REGISTERED NUMBER:13780661


BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
2,985
1,424

  
2,985
1,424

Current assets
  

Debtors: amounts falling due within one year
 4 
51,780
29,911

Bank and cash balances
  
67,504
24,615

  
119,284
54,526

Creditors: amounts falling due within one year
 6 
(288,869)
(446,946)

Net current liabilities
  
 
 
(169,585)
 
 
(392,420)

Total assets less current liabilities
  
(166,600)
(390,996)

  

Net liabilities
  
(166,600)
(390,996)

Page 1


 
INGREDIFIND LIMITED
REGISTERED NUMBER:13780661

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
 7 
402,500
130,000

Share premium account
  
907,500
280,000

Profit and loss account
  
(1,476,600)
(800,996)

  
(166,600)
(390,996)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 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 comprehensive income 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 by: 




N C P White
Director

Date: 21 May 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 2


 
INGREDIFIND LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
130,000
280,000
(226,437)
183,563



Loss for the year
-
-
(574,559)
(574,559)



At 1 January 2024
130,000
280,000
(800,996)
(390,996)



Loss for the year
-
-
(675,604)
(675,604)

Shares issued during the year
272,500
627,500
-
900,000


At 31 December 2024
402,500
907,500
(1,476,600)
(166,600)


The notes on pages 4 to 8 form part of these financial statements.

Page 3


 
INGREDIFIND LIMITED
 

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

1.Accounting policies

 
1.1

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 Section 1A of 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:

 
1.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
1.3

Going concern

The Company is currently in the process of raising seed capital, and in the meantime the shareholders continue to fund the company. Accordingly, the directors have prepared the financial statements on the going concern basis as they expect to be able to continue trading for a period of at least 12 months based on loans provided by shareholders.

 
1.4

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.

 
1.5

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 balance sheet date in the countries where the Company operates and generates income.


Page 4


 
INGREDIFIND LIMITED
 

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

1.Accounting policies (continued)

 
1.6

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:

Computer equipment
-
36 months

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.

 
1.7

Debtors

Short term debtors are measured at transaction price.

 
1.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
1.9

Creditors

Short term creditors are measured at the transaction price.

 
1.10

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.

Page 5


 
INGREDIFIND LIMITED
 

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

1.Accounting policies (continued)

  
1.11

Research and development costs

Research and development costs are expensed in the period that they are incurred.


2.


Employees

The average monthly number of employees during the year was 2 (2023 - 0).


3.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
1,831


Additions
2,477



At 31 December 2024

4,308



Depreciation


At 1 January 2024
407


Charge for the year on owned assets
916



At 31 December 2024

1,323



Net book value



At 31 December 2024
2,985



At 31 December 2023
1,424

Page 6


 
INGREDIFIND LIMITED
 

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

4.


Debtors

2024
2023
£
£


Trade debtors
600
-

Amounts owed by group undertakings
2,511
666

Other debtors
25,099
4,592

Prepayments
8,353
3,667

VAT recoverable
15,218
20,986

51,781
29,911



5.


Fixed asset investments

Subsidiary undertaking
The Company has one subsidiary undertaking, Ingredifind Inc. The registered office address of this subsidiary is 1209 Orange Street, Wilmington, Deleware, 19801, United States. Ingredifind Limited holds 100% of the Ordinary shares of Ingredifind Inc.
The Company holds 100 shares at a par value of $0.00001 per share. As the financial statements are rounded to the nearest pound, this investment is not shown on the balance sheet.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
53,197
17,610

Other creditors
227,059
426,336

Accruals and deferred income
8,613
3,000

288,869
446,946


Other creditors represents a shareholder loan due to N C P White, the outstanding balance is £227,059 (2023: £426,336), this amount is unsecured, interest free and repayable on demand.

Page 7


 
INGREDIFIND LIMITED
 

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

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40,250,000 (2023 - 13,000,000) Ordinary shares of £0.01 each
402,500
130,000


On 27 September 2024, the interest-free loan balance of £900,000 owing by the Company to its members was converted into equity by way of the issue and allotment of 10,000,000 ordinary share at £0.09 each.
A further 17,250,000 shares were issued on the same day at £0.01 each. Consideration for these shares was made by capitalising £172,500 from the Company's share premium account. 


8.


Post balance sheet events

There were no adjusting or non-adjusting events ocurring between the end of the reporting period and the date these financial statements were approved.

 
Page 8