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Registered number: 12467448










NUTRICOR AGRONOMICS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
NUTRICOR AGRONOMICS LIMITED
REGISTERED NUMBER: 12467448

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,019
14,179

  
10,019
14,179

Current assets
  

Stocks
  
68,000
68,000

Debtors: amounts falling due within one year
 5 
28,697
33,532

Cash at bank and in hand
 6 
9,470
2,917

  
106,167
104,449

Creditors: amounts falling due within one year
 7 
(223,404)
(194,020)

Net current liabilities
  
 
 
(117,237)
 
 
(89,571)

Total assets less current liabilities
  
(107,218)
(75,392)

  

Net liabilities
  
(107,218)
(75,392)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(107,219)
(75,393)

  
(107,218)
(75,392)


Page 1

 
NUTRICOR AGRONOMICS LIMITED
REGISTERED NUMBER: 12467448
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

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 income and retained earnings 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: 






M Atkins
Director

Date: 25 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NUTRICOR AGRONOMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Nutricor Agronomics Limited is a private limited company limited by shares. It is incorporated in England and Wales. The registered office is Unit 5 9 Atherton Way, Brigg, England, DN20 8AR.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through available funds and the support of the director. The director considers that it is appropriate to prepare the financial statements on a going concern basis as they expect the company to be able to trade within the facilities made available.

 
2.3

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
NUTRICOR AGRONOMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.5

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, as follows:.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Straight line
Motor vehicles
-
25%
Reducing balance
Computer equipment
-
20%
Reducing balance

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.

 
2.6

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.

 
2.7

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.

Page 4

 
NUTRICOR AGRONOMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
NUTRICOR AGRONOMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
12,755
10,750
762
24,267



At 29 February 2024

12,755
10,750
762
24,267



Depreciation


At 1 March 2023
5,106
4,704
278
10,088


Charge for the year on owned assets
2,551
1,512
97
4,160



At 29 February 2024

7,657
6,216
375
14,248



Net book value



At 29 February 2024
5,098
4,534
387
10,019



At 28 February 2023
7,649
6,046
484
14,179

Page 6

 
NUTRICOR AGRONOMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
14,842
21,886

Amounts owed by group undertakings
3,423
4,008

Other debtors
6,262
3,898

Prepayments and accrued income
4,170
3,740

28,697
33,532



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,470
2,917



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
33,384
2

Other creditors
187,020
191,018

Accruals and deferred income
3,000
3,000

223,404
194,020



8.


Controlling party

The Ultimate Parent Company is Nutricor Holdings Limited. The Company was under the control of the director who is also director of Nutricor Holdings Limited. The company is part of a small group.
 
Page 7