Carbon Theory Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 10764279

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		14,000
Tangible Assets	5		-		2,146

			-		16,146
CURRENT ASSETS
Stocks		1,021,949		692,105
Debtors	6	1,604,011		1,275,227
Cash at bank and in hand		18,100		114,898

		2,644,060		2,082,230
Creditors: Amounts Falling Due Within One Year		(1,043,452 )		(610,977 )

NET CURRENT ASSETS (LIABILITIES)			1,600,608		1,471,253

TOTAL ASSETS LESS CURRENT LIABILITIES			1,600,608		1,487,399

Creditors: Amounts Falling Due After More Than One Year			(2,699,759 )		(1,988,730 )

NET LIABILITIES			(1,099,151 )		(501,331 )

CAPITAL AND RESERVES
Called up share capital	7		221		221
Share premium account			2,705,435		2,705,435
Profit and Loss Account			(3,804,807 )		(3,206,987 )

SHAREHOLDERS' FUNDS			(1,099,151)		(501,331)

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Carbon Theory Limited

Abridged Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Adam Minto

Director

28/05/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Carbon Theory Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10764279 . The registered office is Odeon House, 146 College Road, Harrow, HA1 1BH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

over 3 to 5 years

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 8)

4. Intangible Assets

	Total
	£
Cost
As at 1 January 2024	17,500
Disposals	(17,500 )

As at 31 December 2024	-

...CONTINUED

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Carbon Theory Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	3,500
Disposals	(3,500 )

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	14,000

5. Tangible Assets

	Total
	£
Cost
As at 1 January 2024	20,735
Disposals	(20,735 )

As at 31 December 2024	-

Depreciation
As at 1 January 2024	18,589
Disposals	(18,589 )

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	2,146

6. Debtors

	2024	2023
	£	£
Due after more than one year
Amounts owed by group undertakings	1,046,567	986,731

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	221	221

8. Related Party Transactions

During the year the company invoiced goods and services amounting to £115,579 (2023: £60,778) to Carbon Theory Inc, a wholly owned subsidiary incorporated in Delaware, USA.

As at the year end the company was owed £1,029,621 (2023: £977,735) from Carbon Theory Inc. The amounts are unsecured, interest free and with no fixed date of repayment.

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