IRIS Accounts Production v25.1.3.33 13576684 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 0.0100 0.0100 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135766842023-08-31135766842024-08-31135766842023-09-012024-08-31135766842022-08-31135766842022-09-012023-08-31135766842023-08-3113576684ns15:EnglandWales2023-09-012024-08-3113576684ns14:PoundSterling2023-09-012024-08-3113576684ns10:Director12023-09-012024-08-3113576684ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3113576684ns10:SmallEntities2023-09-012024-08-3113576684ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3113576684ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3113576684ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3113576684ns10:FullAccounts2023-09-012024-08-3113576684ns10:OrdinaryShareClass12023-09-012024-08-311357668411ns10:OrdinaryShareClass12023-09-012024-08-3113576684ns10:Director32023-09-012024-08-3113576684ns10:Director42023-09-012024-08-3113576684ns10:Director52023-09-012024-08-3113576684ns10:Director62023-09-012024-08-3113576684ns10:CompanySecretary12023-09-012024-08-3113576684ns10:RegisteredOffice2023-09-012024-08-3113576684ns5:CurrentFinancialInstruments2024-08-3113576684ns5:CurrentFinancialInstruments2023-08-3113576684ns5:ShareCapital2024-08-3113576684ns5:ShareCapital2023-08-3113576684ns5:SharePremium2024-08-3113576684ns5:SharePremium2023-08-3113576684ns5:RetainedEarningsAccumulatedLosses2024-08-3113576684ns5:RetainedEarningsAccumulatedLosses2023-08-3113576684ns5:PlantMachinery2023-08-3113576684ns5:PlantMachinery2023-09-012024-08-3113576684ns5:PlantMachinery2024-08-3113576684ns5:PlantMachinery2023-08-3113576684ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3113576684ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3113576684ns10:OrdinaryShareClass12024-08-31
REGISTERED NUMBER: 13576684 (England and Wales)















FRUITCAST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






FRUITCAST LIMITED (REGISTERED NUMBER: 13576684)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


FRUITCAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Dr R C Martin
Dr S Pearson
Mr R J Williamson
Mr J G Dobson
Dr S L Maloney





SECRETARY: Ms L J Brownlie





REGISTERED OFFICE: Plowright House
Riseholme
Lincoln
LN2 2LG





REGISTERED NUMBER: 13576684 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR

FRUITCAST LIMITED (REGISTERED NUMBER: 13576684)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 46,471 3,490

CURRENT ASSETS
Debtors 5 333,496 71,884
Cash at bank 248,386 223,617
581,882 295,501
CREDITORS
Amounts falling due within one year 6 113,095 54,268
NET CURRENT ASSETS 468,787 241,233
TOTAL ASSETS LESS CURRENT LIABILITIES 515,258 244,723

PROVISIONS FOR LIABILITIES 3,061 663
NET ASSETS 512,197 244,060

CAPITAL AND RESERVES
Called up share capital 7 2 2
Share premium 993,302 643,304
Retained earnings (481,107 ) (399,246 )
SHAREHOLDERS' FUNDS 512,197 244,060

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

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

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 23 May 2025 and were signed on its behalf by:





Dr R C Martin - Director


FRUITCAST LIMITED (REGISTERED NUMBER: 13576684)

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

1. STATUTORY INFORMATION

Fruitcast 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.

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

The financial statements cover the individual entity.

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

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Property, plant and equipment
Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery and fixtures & fittings25% on cost
Computer equipment33% on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FRUITCAST LIMITED (REGISTERED NUMBER: 13576684)

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

2. ACCOUNTING POLICIES - continued

Research and development
Research expenditure is written off to the income statement in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised and amortised over the period during which the company is expected to benefit

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grant income
Grants relating to revenue are recognised as income on a systemic basis over the period in which the related costs for which the grant is intended to compensate are recognised.

Grants relating to capital expenditure are credited to deferred income and are released to the income statement over the expected useful life of the assets.

Going concern
Despite the company having net assets, the company has made accumulated losses of £481,107. This necessitates the need to consider the appropriateness of preparing the financial statements on a going concern basis. The company is maintaining its strategy, with director and shareholder support, to continue to develop its fruit forecasting software. The directors considered a period in excess of 12 months from the date of approval of the financial statements when making this assessment and consider that in preparing the financial statements, they have taken into account all information that could reasonably be expected to be available. The company has met its financial milestones for both grant funding and further capital investment. On this basis they consider that it is appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 11 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2023 7,377
Additions 67,496
At 31 August 2024 74,873
DEPRECIATION
At 1 September 2023 3,887
Charge for year 24,515
At 31 August 2024 28,402
NET BOOK VALUE
At 31 August 2024 46,471
At 31 August 2023 3,490

FRUITCAST LIMITED (REGISTERED NUMBER: 13576684)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,000 -
Other debtors 309,496 71,884
333,496 71,884

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,620 5,033
Taxation and social security 25,335 25,792
Other creditors 83,140 23,443
113,095 54,268

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,828 Ordinary 0.001 2 2

272 Ordinary shares of 0.001 each were allotted as fully paid at a premium of 1287 per share during the year.

8. OTHER FINANCIAL COMMITMENTS

The company has the following commitments due as follows:

20242023
££

In one year2,0002,000
2-5 years--
2,0002,000