Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Dr R J Clement 25/01/2021 Dr T C Hill 25/01/2021 Dr R H Mitchell 25/01/2021 28 May 2025 The principal activity of the Company during the financial year was providing services to monitor ecosystems. 13157033 2024-12-31 13157033 bus:Director1 2024-12-31 13157033 bus:Director2 2024-12-31 13157033 bus:Director3 2024-12-31 13157033 2023-12-31 13157033 core:CurrentFinancialInstruments 2024-12-31 13157033 core:CurrentFinancialInstruments 2023-12-31 13157033 core:Non-currentFinancialInstruments 2024-12-31 13157033 core:Non-currentFinancialInstruments 2023-12-31 13157033 core:ShareCapital 2024-12-31 13157033 core:ShareCapital 2023-12-31 13157033 core:RetainedEarningsAccumulatedLosses 2024-12-31 13157033 core:RetainedEarningsAccumulatedLosses 2023-12-31 13157033 core:OtherResidualIntangibleAssets 2023-12-31 13157033 core:OtherResidualIntangibleAssets 2024-12-31 13157033 core:PlantMachinery 2023-12-31 13157033 core:OfficeEquipment 2023-12-31 13157033 core:ComputerEquipment 2023-12-31 13157033 core:PlantMachinery 2024-12-31 13157033 core:OfficeEquipment 2024-12-31 13157033 core:ComputerEquipment 2024-12-31 13157033 core:CostValuation 2023-12-31 13157033 core:CostValuation 2024-12-31 13157033 bus:OrdinaryShareClass1 2024-12-31 13157033 2024-01-01 2024-12-31 13157033 bus:FilletedAccounts 2024-01-01 2024-12-31 13157033 bus:SmallEntities 2024-01-01 2024-12-31 13157033 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13157033 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13157033 bus:Director1 2024-01-01 2024-12-31 13157033 bus:Director2 2024-01-01 2024-12-31 13157033 bus:Director3 2024-01-01 2024-12-31 13157033 core:OtherResidualIntangibleAssets core:TopRangeValue 2024-01-01 2024-12-31 13157033 core:PlantMachinery core:BottomRangeValue 2024-01-01 2024-12-31 13157033 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 13157033 core:OfficeEquipment core:BottomRangeValue 2024-01-01 2024-12-31 13157033 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 13157033 core:ComputerEquipment core:BottomRangeValue 2024-01-01 2024-12-31 13157033 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 13157033 2023-01-01 2023-12-31 13157033 core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 13157033 core:PlantMachinery 2024-01-01 2024-12-31 13157033 core:OfficeEquipment 2024-01-01 2024-12-31 13157033 core:ComputerEquipment 2024-01-01 2024-12-31 13157033 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 13157033 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13157033 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13157033 (England and Wales)

QUANTERRA SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

QUANTERRA SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

QUANTERRA SYSTEMS LIMITED

BALANCE SHEET

As at 31 December 2024
QUANTERRA SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 91 104
Tangible assets 4 670,054 285,965
Investments 5 7 7
670,152 286,076
Current assets
Stocks 144,592 407,191
Debtors 6 396,747 78,833
Cash at bank and in hand 932,508 806,206
1,473,847 1,292,230
Creditors: amounts falling due within one year 7 ( 1,849,183) ( 1,353,677)
Net current liabilities (375,336) (61,447)
Total assets less current liabilities 294,816 224,629
Creditors: amounts falling due after more than one year 8 0 ( 103,156)
Provision for liabilities ( 73,000) ( 57,500)
Net assets 221,816 63,973
Capital and reserves
Called-up share capital 9 1,150 1,150
Profit and loss account 220,666 62,823
Total shareholders' funds 221,816 63,973

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Quanterra Systems Limited (registered number: 13157033) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

Dr R H Mitchell
Director
QUANTERRA SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
QUANTERRA SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quanterra Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House, Peninsula Park, Rydon Lane, Exeter, EX2 7XE, England, United Kingdom. The principal place of business is Streatham Court, Rennes Drive, Exeter, EX4 4PU.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS102.

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

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

For projects which span across the end of the financial period, revenue is either deferred or accrued based on the proportion of the project that relates to the relevant financial period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 3 - 5 years straight line
Office equipment 2 - 3 years straight line
Computer equipment 2 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Convertible loan notes
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition, the financial liability component is recorded at its fair value. At the date of issue, in the case of a convertible bond denominated in the functional currency of the issuer that may be converted into a fixed number of equity shares, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in the equity reserve within equity and is not subsequently remeasured.

Transaction costs are apportioned between the liability and equity components of the convertible instrument based on their relative fair values at the date of issue. The portion relating to the equity component is charged directly against equity.

The convertible loan notes are non-basic financial instruments and as such are accounted for at fair value which is the balance repayable plus an additional amount reflecting the value of the discount on the shares expected to be issued on conversion.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Warrants

The warrants are non-basic financial instruments and as such are accounted for at fair value and calculated based on the expected likelihood and magnitude of the payment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 10

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 130 130
At 31 December 2024 130 130
Accumulated amortisation
At 01 January 2024 26 26
Charge for the financial year 13 13
At 31 December 2024 39 39
Net book value
At 31 December 2024 91 91
At 31 December 2023 104 104

4. Tangible assets

Plant and machinery Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 January 2024 310,220 9,002 14,746 333,968
Additions 423,235 1,857 3,577 428,669
At 31 December 2024 733,455 10,859 18,323 762,637
Accumulated depreciation
At 01 January 2024 30,341 6,536 11,126 48,003
Charge for the financial year 38,230 2,704 3,646 44,580
At 31 December 2024 68,571 9,240 14,772 92,583
Net book value
At 31 December 2024 664,884 1,619 3,551 670,054
At 31 December 2023 279,879 2,466 3,620 285,965

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 7
At 31 December 2024 7
Carrying value at 31 December 2024 7
Carrying value at 31 December 2023 7

6. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 345,713 0
Other debtors 51,034 78,833
396,747 78,833

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,503 31
Other loans 757,702 760,011
Accruals and deferred income 1,066,885 583,079
Other taxation and social security 23,093 8,843
Other creditors 0 1,713
1,849,183 1,353,677

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 0 103,156

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
115,000 Ordinary Shares shares of £ 0.01 each 1,150 1,150