| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| CIBUS CAPITAL LLP |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| CIBUS CAPITAL LLP |
| CIBUS CAPITAL LLP (REGISTERED NUMBER: OC320407) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| General Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| CIBUS CAPITAL LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| INDEPENDENT AUDITORS: |
| Statutory Auditors |
| Appledram Barns |
| Birdham Road |
| Chichester |
| West Sussex |
| PO20 7EQ |
| CIBUS CAPITAL LLP (REGISTERED NUMBER: OC320407) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS | 477,970 | 1,114,179 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
125,000 |
125,001 |
| MEMBERS' OTHER INTERESTS |
| Other reserves |
| 477,970 | 1,114,179 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 9 | 125,000 | 125,001 |
| Members' other interests | 352,970 | 989,178 |
| Amounts due from members | 5 | (403 | ) | (1 | ) |
| 477,567 | 1,114,178 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| CIBUS CAPITAL LLP (REGISTERED NUMBER: OC320407) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Cibus Capital LLP is a limited liability partnership incorporated and domiciled in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Turnover |
| Revenue comprises of advisory fees and reimbursed fund expenditure and is recognised on an accruals basis to the extent that it is probable that future economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are recorded at historical cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
| Improvements to property - in accordance with the property lease |
| Office equipment - 3 years |
| Fixtures and fittings - 25% on cost |
| Computer equipment - 3 years |
| Residual values, useful lives and depreciation method are reviewed, and adjusted if appropriate, at each year end. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within administrative expenses in the income statement. |
| Financial instruments |
| Financial assets |
| The LLP's financial assets comprise basic financial assets, being trade and other receivables and cash at bank. |
| Cash is represented by cash on deposit with financial institutions repayable without penalty on notice of not more than 24 hours. |
| Trade and other receivables are measured initially at transaction price and thereafter at the undiscounted amount expected to be received which includes any impairment. |
| Financial assets are derecognised when contractual rights to the cash flows from the financial asset expire or are settled, or when substantially all the risks and rewards of ownership have been transferred. |
| Impairment |
| An impairment loss is measured as the difference between an asset's carrying amount and best estimate of the amount that the LLP would receive for the asset if it were to be sold at the reporting date. |
| CIBUS CAPITAL LLP (REGISTERED NUMBER: OC320407) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial liabilities |
| The LLP's financial liabilities comprise basic financial liabilities, being trade and other payables. These are initially recognised at transaction price and thereafter at the undiscounted amount expected to be paid. |
| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Offsetting |
| Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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. |
| Foreign currencies |
| Functional and presentation currency |
| The LLP's functional and presentational currency is Pound Sterling (£), which is rounding to the nearest Pound (£). |
| Transactions and balances |
| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the date of the transaction. |
| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical costs 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 is determined. |
| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement. |
| Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within administrative expenses. |
| 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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
| Taxation |
| No provision has been made for current or deferred taxation in the financial statements of the LLP. Each Member is exclusively liable for any tax liabilities arising out of their interest in the LLP which will be assessed on the individual Members and not the LLP. |
| Prior period adjustment |
| The financial statements have been restated to recognise the gross amount of reimbursed fund expenditure within revenue in the period to 31 March 2024 of £668,625 that was previously netted off within administrative expenses. The restatement has resulted in £nil impact on profit for the prior period. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| CIBUS CAPITAL LLP (REGISTERED NUMBER: OC320407) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Office | and | Computer |
| equipment | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Amounts due from members | 403 | 1 |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Pensions payable | 3,542 | 3,575 |
| Other creditors |
| Accruals and deferred income |
| 7. | LEASING AGREEMENTS |
| At 31 March 2025, the LLP had total commitments under non-cancellable operating leases over the remaining life of those leases of £266,496 (2024: £266,496). |
| CIBUS CAPITAL LLP (REGISTERED NUMBER: OC320407) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Other creditors | 17,973 | 14,601 |
| Included within other creditors is £17,973 (2024: £14,601). There is a fixed and floating charge over the assets of the LLP as a result of banking arrangements with HSBC. A member has also provided a personal guarantee as security. |
| 9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2025 | 2024 |
| £ | £ |
| Amounts owed to members in respect of profits | - | 1 |
| Capital account | 125,000 | 125,000 |
| 125,000 | 125,001 |
| Falling due within one year | 125,000 | 125,001 |
| Debts due to ordinary creditors rank in preference to loans and other debts due to Members in the event of a winding up. All amounts due to Members are interest free and repayable on demand. |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | PENSION COMMITMENTS |
| The LLP operates a defined contribution pension scheme. At the balance sheet date the LLP had unpaid contributions of £3,542 (2024: £3,575). |