SEARO LABS LTD
Recent Case Studies
Arrange a FREE Consultation Call and Let’s Discuss Your Goals!
BACKGROUND
Searo Labs is a UK‑based innovator operating at the intersection of technology, sustainability, and advanced materials. The company develops cutting‑edge solutions that leverage artificial intelligence and machine learning, alongside pioneering seaweed‑based, home‑compostable alternatives to single‑use plastics.
As a fast‑growing business in competitive and highly regulated markets, Searo Labs faced the dual challenge of scaling rapidly while navigating complex funding, compliance, and tax landscapes. They required a trusted partner to manage statutory reporting, corporate governance, and tax obligations — while also unlocking opportunities such as research and development (R&D) tax credits to fuel innovation.
CHALLENGES
- Navigating the financial and compliance requirements of a high‑growth start‑up.
- Managing statutory reporting, VAT, payroll, and corporation tax obligations without diverting focus from core innovation.
- Identifying and securing R&D tax relief to support ongoing product development.
- Ensuring governance and corporate records met investor and regulatory expectations.
Contact MMBA Accountants to
get the Experts
insights and guidance
Call us Today
OUR ROLE & SOLUTION
Strategic Financial Advisory
Waqqas Memon and the MMBA team became an embedded financial partner, providing tailored advice aligned with Searo Labs’ growth objectives. This included proactive compliance checks, strategic tax planning, and board‑level insights to support decision‑making.
R&D Claims Management
Statutory Financial Reporting
- Prepared annual statutory financial statements from management accounts, trial balances, and supporting schedules.
- Agreed deliverables upfront to ensure all reporting requirements were met before fieldwork.
- Filed approved accounts with Companies House on time.
Company Secretarial Services
- Maintained statutory registers in compliance with the Companies Act.
- Filed annual confirmation statements and facilitated director resolutions.
- Prepared governance documentation, including dividend approvals.
VAT Review & Submission
- Reviewed quarterly VAT returns, advising on complex VAT treatments.
- Submitted returns post‑approval, ensuring accuracy and timeliness.
Payroll Processing
- Managed monthly payroll in compliance with PAYE and NIC requirements.
- Ensured directors verified employment contracts and work permits.
Corporation Tax Compliance
- Prepared and filed annual corporation tax computations and CT600 returns.
- Produced tax disclosures, including deferred tax calculations.
- Implemented approved tax planning measures.
Cloud Accounting Support
- Provided a QuickBooks Online subscription at preferential rates, consolidating software and accountancy fees for administrative ease.
OUTCOME & IMPACT
- Delivered fully compliant statutory accounts and corporate filings on time, avoiding penalties and ensuring transparency for stakeholders.
- Maintained accurate statutory registers and governance documentation, supporting investor and regulatory confidence.
- Secured crucial funding to accelerate research and product development.
- Ensured timely VAT and corporation tax submissions, with proactive advice on VAT treatment and tax planning opportunities.
- Streamlined payroll and accounting processes through integrated cloud software, improving efficiency and reducing administrative burden.
- Established a collaborative relationship that continues to evolve with the company’s growth.
CLIENT TESTIMONIAL
Waqqas Memon and his team at MMBA have been a vital resource to our start-up Searo Labs and have continued to be as we have grown as a company in the technology sector. The services and advice we received have been highly professional, personal, and knowledgeable at all times. MMBA also developed and submitted an R&D claim on our behalf, which was dealt with seamlessly and without delay. I look forward to continuing to work together.”
—Searo Labs
