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REGISTERED NUMBER: 10258650 (England and Wales)















Agripep UK Ltd

Unaudited Financial Statements

for the period

1 September 2023 to 31 July 2024






Agripep UK Ltd (Registered number: 10258650)

Contents of the Financial Statements
for the period 1 September 2023 to 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Agripep UK Ltd

Company Information
for the period 1 September 2023 to 31 July 2024







Directors: Juan Castella
Patricia Pinedo
Richard Spendelow
Catherine Burling





Registered office: Bradfield Hall
Steam Mill Road
Manningtree
Essex
CO11 2QZ





Registered number: 10258650 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Agripep UK Ltd (Registered number: 10258650)

Balance Sheet
31 July 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 58,617 48,566
Investments 5 21,630 21,630
80,247 70,196

Current assets
Stocks 37,376 -
Debtors 6 1,489,872 1,091,015
Cash at bank 868,311 1,758,918
2,395,559 2,849,933
Creditors
Amounts falling due within one year 7 1,323,582 2,323,651
Net current assets 1,071,977 526,282
Total assets less current liabilities 1,152,224 596,478

Provisions for liabilities 10,986 -
Net assets 1,141,238 596,478

Capital and reserves
Called up share capital 8 100,000 100,000
Retained earnings 9 1,041,238 496,478
Shareholders' funds 1,141,238 596,478

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2024.

The members have not required the Company to obtain an audit of its financial statements for the period ended 31 July 2024 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.

Agripep UK Ltd (Registered number: 10258650)

Balance Sheet - continued
31 July 2024


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 Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:




Juan Castella - Director



Richard Spendelow - Director


Agripep UK Ltd (Registered number: 10258650)

Notes to the Financial Statements
for the period 1 September 2023 to 31 July 2024


1. Statutory information

Agripep UK 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.

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

These financial statements are rounded to the nearest £.

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.

Set out below is a summary of principal accounting policies, all of which have been consistently applied throughout the year and the preceding year (except as otherwise stated). The financial statements are presented in Sterling.

Significant judgements and estimates
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies
The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial period.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

(i) Recoverability of receivables
The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the aging of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers.

(ii) Determining residual values and useful economic lives of tangible assets
The Company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives is based on historical performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes. Judgement is applied by management when determining the residual values for tangible assets. When determining the residual value management aim to assess the amount that the Company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

Agripep UK Ltd (Registered number: 10258650)

Notes to the Financial Statements - continued
for the period 1 September 2023 to 31 July 2024


2. Accounting policies - continued

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

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

Sale of goods
Turnover 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 turnover 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Financial instruments
The Company has chosen to adopt Sections 11 of FRS 102 in respect of financial instruments.

(i) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Agripep UK Ltd (Registered number: 10258650)

Notes to the Financial Statements - continued
for the period 1 September 2023 to 31 July 2024


2. Accounting policies - continued

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The director's has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus, the director has continued to adopt the going concern basis of accounting in preparing these financial statements.

3. Employees and directors

The average number of employees during the period was 4 (2023 - 4 ) .

Agripep UK Ltd (Registered number: 10258650)

Notes to the Financial Statements - continued
for the period 1 September 2023 to 31 July 2024


4. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1 September 2023 - 52,147 5,373 57,520
Additions 20,850 23,332 - 44,182
Disposals - (28,996 ) - (28,996 )
At 31 July 2024 20,850 46,483 5,373 72,706
Depreciation
At 1 September 2023 - 7,527 1,427 8,954
Charge for period 2,317 9,602 2,463 14,382
Eliminated on disposal - (9,247 ) - (9,247 )
At 31 July 2024 2,317 7,882 3,890 14,089
Net book value
At 31 July 2024 18,533 38,601 1,483 58,617
At 31 August 2023 - 44,620 3,946 48,566

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 September 2023
and 31 July 2024 21,630
Net book value
At 31 July 2024 21,630
At 31 August 2023 21,630

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 1,476,587 953,924
Amounts owed by group undertakings - 119,914
Other debtors 13,285 17,177
1,489,872 1,091,015

7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,033,750 1,723,899
Taxation and social security 194,810 137,968
Other creditors 95,022 461,784
1,323,582 2,323,651

Agripep UK Ltd (Registered number: 10258650)

Notes to the Financial Statements - continued
for the period 1 September 2023 to 31 July 2024


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100,000 Ordinary £1 100,000 100,000

9. Reserves
Retained
earnings
£

At 1 September 2023 496,478
Profit for the period 794,760
Dividends (250,000 )
At 31 July 2024 1,041,238

10. Ultimate controlling party

The ultimate controlling party is Juan Castella.