Company No: 12660176 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	D Harris
	J R Lawson-Brown
	G P C Strafford
	N S Tiller

Registered office	Plexal The Press Centre Here East
	14 East Bay Lane
	London. E20 3BS
	United Kingdom

Company number

12660176 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

	Note	31.12.2024		31.12.2023
		£		£
Fixed assets
Intangible assets	3	965,883		600,442
Tangible assets	4	15,907		18,102
		981,790		618,544
Current assets
Debtors
- due within one year	5	196,546		157,251
- due after more than one year	5	7,200		7,200
Cash at bank and in hand		589,261		1,190,848
		793,007		1,355,299
Creditors: amounts falling due within one year	6	( 959,157)		( 218,718)
Net current (liabilities)/assets		(166,150)		1,136,581
Total assets less current liabilities		815,640		1,755,125
Net assets		815,640		1,755,125
Capital and reserves
Called-up share capital	7	551		517
Share premium account		3,569,535		3,119,568
Profit and loss account		( 2,754,446 )		( 1,364,960 )
Total shareholders' funds		815,640		1,755,125

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 members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Carbon Quota Limited (registered number: 12660176) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

N S Tiller Director

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 period, unless otherwise stated.

General information and basis of accounting

Carbon Quota 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 Plexal The Press Centre Here East, 14 East Bay Lane, London. E20 3BS, United Kingdom.

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.

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.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

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

5 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 or reducing balance basis over its expected useful life, as follows:

Computer equipment

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

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.

2. Employees

	Year ended 31.12.2024		Period from 01.07.2023 to 31.12.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	20		16

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	762,449		762,449
Additions	580,982		580,982
At 31 December 2024	1,343,431		1,343,431
Accumulated amortisation
At 01 January 2024	162,007		162,007
Charge for the financial year	215,541		215,541
At 31 December 2024	377,548		377,548
Net book value
At 31 December 2024	965,883		965,883
At 31 December 2023	600,442		600,442

4. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2024	31,073		31,073
Additions	11,685		11,685
At 31 December 2024	42,758		42,758
Accumulated depreciation
At 01 January 2024	12,971		12,971
Charge for the financial year	13,880		13,880
At 31 December 2024	26,851		26,851
Net book value
At 31 December 2024	15,907		15,907
At 31 December 2023	18,102		18,102

5. Debtors

	31.12.2024		31.12.2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	92,298		127,595
Interest and similar income receivable	22		0
Prepayments and accrued income	103,812		8,266
VAT recoverable	114		20,790
Other debtors	300		600
	196,546		157,251
Debtors: amounts falling due after more than one year
Other debtors	7,200		7,200

6. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Trade creditors	76,135		57,435
Other loans	500,000		0
Accruals and deferred income	67,237		148,462
Other taxation and social security	315,785		3,461
Other creditors	0		9,360
	959,157		218,718

7. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
3,858,899 Ordinary shares of £ 0.0001 each	385.89		385.89
1,654,034 Preference shares of £ 0.0001 each (31.12.2023: 1,315,689 shares of £ 0.0001 each)	165.40		131.57
	551.29		517.46

Shares issued during the period: 338,345 preference shares of £0.0001 each.

9. Related party transactions

All related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions.

10. Ultimate controlling party

In the opinion of the directors there is no ultimate controlling party.