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Registered number: 12597351
















PLANT FOOD BASES LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024


































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PLANT FOOD BASES LIMITED
REGISTERED NUMBER:12597351

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

30 April
30 June
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
267,155
287,344

  
267,155
287,344

Current assets
  

Stocks
  
-
76,561

Debtors: amounts falling due within one year
 5 
838,191
1,357,450

Cash at bank and in hand
 6 
95
835

  
838,286
1,434,846

Creditors: amounts falling due within one year
 7 
(341,949)
(1,208,871)

Net current assets
  
 
 
496,337
 
 
225,975

Total assets less current liabilities
  
763,492
513,319

Creditors: amounts falling due after more than one year
 8 
-
(283,602)

  

Net assets
  
763,492
229,717


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
763,392
229,617

  
763,492
229,717


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





A D Rimmell
Director

Date: 19 September 2024

Page 1


PLANT FOOD BASES LIMITED
REGISTERED NUMBER:12597351
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2


PLANT FOOD BASES LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
100
(371,544)
(371,444)



Profit for the year
-
601,161
601,161



At 1 July 2023
100
229,617
229,717



Profit for the period
-
533,775
533,775


At 30 April 2024
100
763,392
763,492


The notes on pages 4 to 11 form part of these financial statements.

Page 3


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Plant Food Bases Litd is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 76 Charlton Road, Shepton Mallet, Somerset, BA4 5PD.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

On 29 November 2023 Framptons Limited acquired a further 55% of the share capital of the company, to take its shareholding to 100%. On the same day Profuragruppen AB, a privately owned Gothenburg-based investment company, acquired 100% of the share capital of Framptons Group Holdings Limited, the ultimate parent company of Framptons Limited.
The Directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company, and the group it is a member of, headed by Profuragruppen AB, to continue as a going concern. The Directors make this assessment in respect of a period of 12 months from the date of approval of the financial statements. 
Framptons is reliant on support from an intermediate holding company of its new owner, Provator AB, to enable it to continue as a going concern. Framptons has received a letter of support from its owner and the Directors have concluded that this support, and the resources available to Provator AB, provide sufficient support to enable the company to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. 
The directors believe that, taken as a whole, the factors described above enable the Group and the Company to continue as a going concern for the foreseeable future.

Page 4


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
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 Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 5


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

 
2.12

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Page 6


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)


2.12
FINANCIAL INSTRUMENTS (CONTINUED)


Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

3.


EMPLOYEES

Labour costs included within cost of sales are for employees remunerated through another group company, Framptons Limited.

The average monthly number of employees, including directors, during the period was 0 (2023:0).


4.


TANGIBLE FIXED ASSETS







Plant and machinery

£



COST OR VALUATION


At 1 July 2023
328,155


Additions
7,600



At 30 April 2024

335,755



DEPRECIATION


At 1 July 2023
40,811


Charge for the period on owned assets
27,789



At 30 April 2024

68,600



NET BOOK VALUE



At 30 April 2024
267,155



At 30 June 2023
287,344


5.


DEBTORS

30 April
30 June
2024
2023
£
£


Trade debtors
-
1,355,281

Amounts owed by group undertakings
836,587
-

Other debtors
1,604
2,169

838,191
1,357,450


Amounts owed by group undertakings are unsecured and repayable on demand.

Page 8


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

6.


CASH AND CASH EQUIVALENTS

30 April
30 June
2024
2023
£
£

Cash at bank and in hand
95
835

95
835



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30 April
30 June
2024
2023
£
£

Other loans
-
472,023

Trade creditors
300,116
585,006

Amounts owed to group undertakings
33,333
-

Other creditors
-
1,392

Accruals and deferred income
8,500
150,450

341,949
1,208,871


Amounts owed to group undertakings are unsecured and repayable on demand.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30 April
30 June
2024
2023
£
£

Other loans
-
283,602

-
283,602


Page 9


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


LOANS


Analysis of the maturity of loans is given below:


30 April
30 June
2024
2023
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Other loans
-
472,023


-
472,023


AMOUNTS FALLING DUE 2-5 YEARS

Other loans
-
283,602


-
283,602


-
755,625


The loan balance at the balance sheet date 30 June 2023 is made up of 2 loans provided by a shareholder of the company.
These loans were repaid in full during the year.


10.


SHARE CAPITAL

30 April
30 June
2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



45 (2023:45) R class shares of £1.00 each
45
45
45 (2023:45) F class shares of £1.00 each
45
45
10 (2023:10) A class shares of £1.00 each
10
10

100

100

All shares rank pari passu in all respects but shall constitute separate classes of shares. 



11.


RESERVES

Profit and loss account

The profit and loss account represents accumulated profits and losses.

Page 10


PLANT FOOD BASES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

12.


COMMITMENTS UNDER OPERATING LEASES

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

30 April
30 June
2024
2023
£
£


Not later than 1 year
20,000
20,000

Later than 1 year and not later than 5 years
58,333
75,000

78,333
95,000


13.


RELATED PARTY TRANSACTIONS

During the year the Company made sales of £1,813,676 (2023: £2,754,978) to a shareholder of the Company. 
During the year the Company made purchases of £491,420 (2023: £309,988) from shareholders of the Company. 
At the year end the Company had loans totaling £Nil (2023: £755,625) owed to a shareholder of the company. 


14.


CONTROLLING PARTY

 The immediate parent undertaking is Framptons Limited.

The parent undertaking and parent that prepares consolidated accounts for the smallest group that includes the company is Framptons Group Holdings Limited, a company incorporated in the UK.

The ultimate parent undertaking, and parent that prepares consolidated accounts for the largest group that includes the company is Profuragrupen AB, a company incorporated in Sweden.

The ultimate controlling party is Berndt Ivarsson.


15.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the period ended 30 April 2024 was unqualified.

The audit report was signed on 24 September 2024 by Ria Burridge FCCA (Senior statutory auditor) on behalf of Bishop Fleming Bath Limited.

 
Page 11