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REGISTERED NUMBER: 05872092 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Micromix Plant Health Limited

Micromix Plant Health Limited (Registered number: 05872092)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Micromix Plant Health Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: R Clapham



SECRETARY: Mrs J Newell



REGISTERED OFFICE: 3 Coachgap Lane
Langar
Nottinghamshire
NG13 9HP



REGISTERED NUMBER: 05872092 (England and Wales)



SENIOR STATUTORY AUDITOR: Rachel Rudkin FCCA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
14 London Road
Newark
Nottinghamshire
NG24 1TW

Micromix Plant Health Limited (Registered number: 05872092)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,398 77,309
Investments 5 119,720 119,720
156,118 197,029

CURRENT ASSETS
Stocks 1,051,713 512,701
Debtors 6 1,648,931 1,368,757
Cash at bank 559,312 381,477
3,259,956 2,262,935
CREDITORS
Amounts falling due within one year 7 3,633,820 2,922,624
NET CURRENT LIABILITIES (373,864 ) (659,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(217,746

)

(462,660

)

PROVISIONS FOR LIABILITIES 10 120,000 70,000
NET LIABILITIES (337,746 ) (532,660 )

CAPITAL AND RESERVES
Called up share capital 11 4 4
Share premium 12 45,000 45,000
Retained earnings 12 (382,750 ) (577,664 )
SHAREHOLDERS' FUNDS (337,746 ) (532,660 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





R Clapham - Director


Micromix Plant Health Limited (Registered number: 05872092)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Micromix Plant Health Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about Micromix Plant Health Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Olmix SA, ZA du Haut du Bois, 56580 Brehan, France.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

This year, the company has adopted the group's policy for obsolete and slow moving stock.


Micromix Plant Health Limited (Registered number: 05872092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 year 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are recognised when a present obligation (legal or constructive) exists in respect of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation and where the amount can be reliably estimated by the directors. Where the impact is material, provisions are discounted to present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 31 ) .

Micromix Plant Health Limited (Registered number: 05872092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 54,743 373,472 33,686 37,855 499,756
DEPRECIATION
At 1 January 2023 17,743 334,128 32,721 37,855 422,447
Charge for year 10,949 29,680 282 - 40,911
At 31 December 2023 28,692 363,808 33,003 37,855 463,358
NET BOOK VALUE
At 31 December 2023 26,051 9,664 683 - 36,398
At 31 December 2022 37,000 39,344 965 - 77,309

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 119,720
NET BOOK VALUE
At 31 December 2023 119,720
At 31 December 2022 119,720

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 316,576 246,448
Amounts owed by group undertakings 1,044,978 928,161
Other debtors 50,528 55,365
VAT 39,812 55,610
Deferred tax asset
Tax losses carried forward 30,950 -
Prepayments and accrued income 166,087 83,173
1,648,931 1,368,757

Micromix Plant Health Limited (Registered number: 05872092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) - 986
Trade creditors 698,779 352,623
Amounts owed to group undertakings 2,707,689 2,421,150
Social security and other taxes 23,486 25,052
Other creditors 57,794 54,513
Accruals and deferred income 146,072 68,300
3,633,820 2,922,624

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year - 986

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 122,713 101,943
Between one and five years 115,190 147,903
237,903 249,846

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 986

Bank loans and hire purchase agreements are secured by way of fixed and floating charges over the company assets.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Other provisions 120,000 70,000

Micromix Plant Health Limited (Registered number: 05872092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 January 2023 - 70,000
Provided during year - 50,000
Credit to Income Statement during year (30,950 ) -
Balance at 31 December 2023 (30,950 ) 120,000

The 'other provision' relates to the anticipated cost of clearing accumulated materials in the yard. The amount provided for has been based on quotations received. The work is expected to take place in 2024.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4,096 Ordinary £0.00 1 4 4

12. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 (577,664 ) 45,000 (532,664 )
Profit for the year 194,914 194,914
At 31 December 2023 (382,750 ) 45,000 (337,750 )

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Rudkin FCCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

14. RELATED PARTY DISCLOSURES

Micromix Plant Health Fertilizantes Do Brazil Ltda

The company owns a 100% (2022 - 100%) shareholding in the above named company. Transactions were conducted with this company throughout the period at an arms length basis.
The amount owed to the company at the balance sheet date is £845,161 (2022: £827,001).

Micromix Plant Health Limited (Registered number: 05872092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

15. POST BALANCE SHEET EVENTS

Following the balance sheet date on 28 March 2024, the company underwent a change of ownership. This entailed leaving the group headed by Olmix SA. As a result, significant changes were made to the balance sheet, including the repayment of all amounts owed by and to group undertakings and divestment of the company subsidiary as disclosed in note 15 to these financial statements.

16. GOING CONCERN

After reviewing the company's forecasts and projections, corroborated by a profitable 2023, management has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.The company therefore continues to adopt the going concern basis in preparing its financial statements.