Feedstock Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09604780 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2018 TO 31 DECEMBER 2018

FOR

FEEDSTOCK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Henderson

Mr R Szabo

Mr L Wurfbain

REGISTERED OFFICE:

37 Floral Street

London

WC2E 9DJ

REGISTERED NUMBER:

09604780 (England and Wales)

ACCOUNTANTS:

Green and Purple Limited

The Barn

13-17 Margett Street

Cottenham

Cambridgeshire

CB24 8QY

FIXED ASSETS

Intangible assets

4

1,503,876

1,074,369

Tangible assets

5

9,228

4,935

1,513,104

1,079,304

CURRENT ASSETS

Debtors

6

153,541

169,307

Prepayments and accrued income

13,168

2,583

Cash at bank

163,139

53,388

329,848

225,278

CREDITORS

Amounts falling due within one year

7

492,551

535,135

NET CURRENT LIABILITIES

(162,703

)

(309,857

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,350,401

769,447

PROVISIONS FOR LIABILITIES

88,609

63,131

NET ASSETS

1,261,792

706,316

CAPITAL AND RESERVES

Called up share capital

8

174

146

Share premium

1,750,065

1,064,996

Retained earnings

(488,447

)

(358,826

)

SHAREHOLDERS' FUNDS

1,261,792

706,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 March 2019 and were signed on its behalf by:

Mr L Wurfbain - Director

1.	Statutory information

Feedstock Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

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

Going Concern

The financial statements have been prepared on a going concern basis. The company incurred losses of £129,621

during the period. However, to date the directors have been successful in raising additional share capital which

allows the company to meet its obligations when they become due. Since the period end the directors have

continued fundraising. The directors are therefore of the opinion that they should continue to adopt the going

concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Development costs are initially recognised at cost. After initial recognition they are measured at cost less any

accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible assets are initially recorded at cost and subsequently stated at cost less accumulation depreciation.

Depreciation

Depreciation is provided at the following rates:

Office equipment

10% reducing balance

Computer equipment

25% straight line

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the period was 10 (2018 - 7 ) .

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 June 2018

1,074,369

Additions

429,507

At 31 December 2018

1,503,876

Net book value

At 31 December 2018

1,503,876

At 31 May 2018

1,074,369

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 June 2018

7,760

Additions

5,807

At 31 December 2018

13,567

Depreciation

At 1 June 2018

2,825

Charge for period

1,514

At 31 December 2018

4,339

Net book value

At 31 December 2018

9,228

At 31 May 2018

4,935

6.

Debtors: amounts falling due within one year

2018

2018

£

£

Trade debtors

11,940

-

Other debtors

141,601

169,307

153,541

169,307

7.

Creditors: amounts falling due within one year

2018

2018

£

£

Trade creditors

5,568

11,507

Taxation and social security

18,364

23,311

Other creditors

468,619

500,317

492,551

535,135

8.	Called up share capital

Allotted, issued and fully paid:

Number

Class

Nominal value

31.12.18

31.5.18

100,000

Ordinary

0.001

100

100

42,933 (May 2018: 24,025)

Ordinary A

0.001

43

24

26,772 (May 2018: 21,486)

Series Seed

0.001

27

22

3,768 (May 2018: NIL)

Series Seed B

0.001

4

-

174

146

The following shares were issued during the period:

18,908 Ordinary A shares for cash of £463,246

5,286 Series Seed shares for cash of £129,507

3,768 Series Seed B shares for cash of £92,316