Carbon ThreeSixty Limited Accounts






Carbon ThreeSixty Limited

	Company No. 10854957
		Information for Filing with The Registrar
		31 March 2026

The Directors present their report and the accounts for the year ended 31 March 2026.

Principal activities
The principal activity of the company during the year under review was design, development and manufacture of composite structures.

Business review
The company continued to invest in the development of composite manufacturing processes and products, and has capitalised qualifying development expenditure in accordance with FRS 102 section 1A

Directors

The Directors who served at any time during the year were as follows:

E. Allnutt
W. Battrick
A.I. Smith







































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

W. Battrick
Director
08 September 2026

at	31 March 2026
Company No.		10854957	Notes	2026	2025 RE-STATED
				£	£
Fixed assets
	Intangible assets		4	1,351,552	1,066,411
	Tangible assets		5	658,483	768,617


				2,010,035	1,835,028
Current assets
	Stocks		6	148,603	134,797
	Debtors		7	1,434,788	882,083

	Cash at bank and in hand			61,807	239,830
				1,645,198	1,256,710
Creditors: Amount falling due within one year			8	(1,222,311)	(567,233)
Net current assets				422,887	689,477
Total assets less current liabilities				2,432,922	2,524,505
Creditors: Amounts falling due after more than one year			9	(1,569,055)	(1,669,237)
Provisions for liabilities
	Deferred taxation			(324,635)	(359,277)

Net assets				539,232	495,991

Capital and reserves
	Called up share capital			580	580
	Share premium account		12	122,777	122,777
	Revaluation reserve		12	99,966	67,020

	Profit and loss account		12	315,909	305,614

Total equity				539,232	495,991



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2026 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 08 September 2026 and signed on its behalf by:
W. Battrick
Director
08 September 2026

for the year ended 31 March 2026

General information

Carbon ThreeSixty Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 10854957

Its registered office is:

Unit 1 The Hub

Bumpers Way

Chippenham

SN14 6LH

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Going concern

The financial statements have been prepared on a going concern basis.

The company incurred a loss before taxation for the year ended 31 March 2026. The directors note that the result has been affected by the timing of revenue recognition on three customer contracts, revenue relating to which has been deferred at the year end in accordance with the company's accounting policies and is expected to be recognised in future accounting periods as the related performance obligations are satisfied.

At the balance sheet date, the company had cash balances of approximately £62,000 and current liabilities of £1,222,311.

The directors have prepared forecasts and cash flow projections covering a period of at least twelve months from the date of approval of these financial statements. These forecasts take account of the company's expected trading performance, the anticipated conversion of contracted work into revenue and ongoing funding activities.

Having considered these forecasts, together with available funding arrangements and the progress of current funding initiatives, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Contract Revenue is recognised by reference to stage of completion, measured by costs incurred as a proportion of total estimated costs. Amounts billed in excess of revenue recognised is held as deferred income. Revenue in excess of billing as accrued income. Expected losses provided in full.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Certain items of plant and machinery may be held at directors' valuation where this is considered to provide a more reliable measure of fair value than historic cost. Valuations are reviewed periodically and are based on market evidence where available, including recent transactions for comparable assets. Revaluation gains are recognised in other comprehensive income and accumulated within the revaluation reserve, except to the extent that they reverse a previous revaluation deficit recognised in profit or loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Leasehold land and buildings

10% straight line

Plant and machinery

20%- 33.33 % straight line

Motor vehicles

25% straight line

Furniture, fittings and equipment

10% & 33.33% straight line

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 3-5 years straight line.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade debtors are stated net of specific provisions where considered necessary by the directors. The directors have reviewed outstanding balances at the year end and consider no additional impairment provision is required.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2026	2025
			Number	Number
		The average monthly number of employees (including directors) during the year was:	48	33

4	Intangible fixed assets
			Goodwill	Patents and trade-marks	Develop-ment costs	Total
			£	£	£	£
		Cost
		At 1 April 2025	34,425	16,488	1,815,442	1,866,355
		Additions	-	-	548,630	548,630

		At 31 March 2026	34,425	16,488	2,364,072	2,414,985
		Amortisation and impairment
		At 1 April 2025	3,686	11,013	785,246	799,945
		Charge for the year	3,292	1,590	258,606	263,488


		At 31 March 2026	6,978	12,603	1,043,852	1,063,433
		Net book values
		At 31 March 2026	27,447	3,885	1,320,220	1,351,552
		At 31 March 2025	30,739	5,475	1,030,196	1,066,411

		Development expenditure is capitalised only where the directors are satisfied that the project meets the recognition criteria of FRS 102. The directors have reviewed the carrying value of capitalised development costs at the year end and are satisfied that the assets are recoverable from future commercial exploitation of the related products and technologies. The directors' assessment of recoverability includes the successful execution of the company's commercial growth strategy and the completion of the ongoing Series A investment round. The proceeds of the proposed fundraising are expected to accelerate product development, increase manufacturing capability and support market expansion, thereby enhancing the future economic benefits expected to arise from the capitalised development assets.

5	Tangible fixed assets
			Land and buildings	Plant and machinery	Moulds/RTM Tools & Jigs	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£	£	£
		Cost or revaluation
		At 1 April 2025	227,845	685,355	265,628	9,500	145,379	1,333,707
		Additions	7,972	29,968	-	-	7,594	45,534
		Revaluation	-	32,946	-	-	-	32,946
		Transfers	-	(22,852)	22,852	-	-	0

		At 31 March 2026	235,817	725,417	288,480	9,500	152,973	1,412,187
		Depreciation
		At 1 April 2025	31,522	194,019	254,102	4,936	80,512	565,091
		Charge for the year	23,057	119,678	11,314	1,141	33,423	188,613



		At 31 March 2026	54,579	313,697	265,416	6,077	113,935	753,704
		Net book values
		At 31 March 2026	181,238	411,720	23,064	3,423	39,038	658,483
		At 31 March 2025	196,323	491,336	11,526	4,564	64,867	768,617

6	Stocks
			2026	2025
			£	£


		Finished goods	148,603	134,797
			148,603	134,797

7	Debtors
			2026	2025
			£	£
		Trade debtors	696,403	360,058

		Corporation tax recoverable	-	241,222



		Other debtors	513,325	157,333
		Prepayments and accrued income	225,060	123,470
			1,434,788	882,083

		Amounts included within Other debtors that fall due after more than one year	130,947	134,240

8	Creditors:
		amounts falling due within one year
			2026	2025
			£	£

		Bank loans and overdrafts	1,492	7,136
		Other loans	99,104	-
		Obligations under finance lease and hire purchase contracts	5,997	-
		Trade creditors	483,447	189,405

		Taxes and social security	36,282	2,911
		Loans from directors	271,103	300,103
		Other creditors	7,245	2,048
		Accruals and deferred income	317,641	65,630
			1,222,311	567,233

9	Creditors:
		amounts falling due after more than one year
			2026	2025
			£	£

		Bank loans and overdrafts	-	1,078
		Other loans	1,555,396	1,654,500



		Other creditors	13,659	13,659

			1,569,055	1,669,237

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	62,252	303,299

			62,252	303,299

		The company has a secured loan facility with Wiltshire Council under the Green Prosperity Investment Fund (GPIF). The facility is secured by way of a debenture incorporating fixed and floating charges over the assets of the company. At 31 March 2026, the balance outstanding comprised: £1,054,500 repayable by instalments, with the loan maturing in June 2031; and £600,000 subject to an interest-only arrangement until 2028, at which point the principal balance becomes repayable.

Share Capital

Allotted, called up and fully paid: 57,950 Ordinary shares of £0.01 each, called up and fully paid.

Prior Year Adjustment

RDEC Debtor

During the year the directors identified that an asset arising from Research and Development Expenditure Credit ("RDEC") tax withheld and available for utilisation against future tax liabilities had not been recognised in the financial statements for the year ended 31 March 2024.Increase in profit and loss reserves £53,833 Increase in debtors £53,833. The effect of the adjustment is summarised below: As a result, comparative debtors and profit and loss reserves at 31 March 2025 have been increased by £53,833.

Deferred Tax on Capitalised Development Cost

During the year the directors identified that deferred taxation had not previously been recognised on capitalised development costs for which tax relief had already been obtained. Under FRS 102, deferred tax should be recognised on timing differences arising between the accounting carrying value of assets and the periods in which tax relief is obtained.

The comparative figures have therefore been restated to recognise the RDEC tax withheld asset and the associated deferred taxation liability. As a consequence of these adjustments, net assets at 31 March 2025 have been restated from £699,707, as previously reported, to £495,991.

12	Reserves
			Revaluation Reserve	Total other reserves
			£	£

		Movement on revaluation reserve	67,020	67,020


		At 31 March 2025 and 1 April 2025	67,020	67,020
		Movement on revaluation reserve	32,946	32,946


		At 31 March 2026	99,966	99,966

		The revaluation reserve represents cumulative unrealised gains arising from the revaluation of certain tangible fixed assets to fair value. The directors periodically review the carrying values of specialised manufacturing equipment and other qualifying assets by reference to market evidence, including comparable transactions and external market data where available. During the year, the directors identified certain specialised manufacturing assets acquired below estimated fair value based upon market evidence and comparable transactions. A revaluation surplus of £32,946 was recognised and credited to the revaluation reserve.

		Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
		Profit and loss account - includes all current and prior period retained profits and losses.

13	Guarantees and commitments
			2026	2025
			£	£
		Lease Commitments < 1 year	393,780	393,780

		Lease Commitments 1- 5 years	837,927	1,231,707

		Pension commitments	7,441	5,541



		At 31 March 2026, the company had future minimum lease payments under non-cancellable operating leases in respect of land and buildings per above. The commitments relate principally to the company's leased office and manufacturing premises at The Hub (Based on a 5 year break clause - 5th August 2029) and Unit 6 Cornbrash Park Sublet Unit 6 The company sublet Unit 6 - its leased premises to a third party from January 2025. Rental income receivable under the sublease is recognised within other operating income £54,636 for 2026. The Sub Lease has a mutual six month break so the non cancellable receivable is £27,318.

Related party disclosures

Transactions with related parties

During the year the directors continued to provide working capital funding to the company.

At 31 March 2026 an amount of £271,103 (2025: £300,103) was owed to directors and included within creditors falling due within one year. The transactions were undertaken on normal commercial terms agreed between the parties.