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Registered number: 05484366









NPZ UK PLANT BREEDING LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
NPZ UK PLANT BREEDING LIMITED
REGISTERED NUMBER: 05484366

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
470,406
274,915

Current assets
  

Stocks
 5 
991,607
1,051,802

Debtors: amounts falling due within one year
 6 
1,062,636
939,760

Cash at bank
 7 
910,119
702,701

Current liabilities
  
2,964,362
2,694,263

Creditors: amounts falling due within one year
 8 
(1,402,680)
(1,146,274)

Net current assets
  
 
 
1,561,682
 
 
1,547,989

Total assets less current liabilities
  
2,032,088
1,822,904

  

Provisions for liabilities
  

Deferred tax
  
(96,948)
(57,796)

Net assets
  
1,935,140
1,765,108


Capital and reserves
  

Called up share capital 
 10 
10,000
10,000

Profit and loss account
  
1,925,140
1,755,108

  
1,935,140
1,765,108


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 on 6 March 2025.




................................................
C M Guest
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

NPZ UK Plant Breeding Limited is a private company limited by shares, incorporated in England and Wales, United Kingdom. The registered office is North Barn, Milton Road, Impington, Cambridge, CB24 9NG.
The nature of the Company's operations and principal activity continued to be that of plant breeding.

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 financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

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 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.

Royalty income relating to the sale by a licensee of a licensed product is recognised on an accruals basis in accordance with the substance of the relevant agreement and based on the receipt from the licensee of the relevant information to enable calculation of the royalty due.

 
2.4

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.

Page 2

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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:

Leasehold property
-
Straight line over the 15 year rent free term of the lease
Plant and machinery
-
20% per annum straight line
Motor vehicles
-
20% per annum straight line
Fixtures and fittings
-
20-25% per annum straight line

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.

 
2.5

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 balance sheet 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

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.
Page 3

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

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 Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors 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 instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.16

Corporation and deferred taxation

The tax expense for the year comprises corporation and deferred tax. 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.17

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. 
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 6

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Leasehold property
Plant and machinery
Total

£
£
£



Cost 


At 1 July 2023
496,696
1,260,963
1,757,659


Additions
18,328
320,886
339,214


Disposals
-
(3,985)
(3,985)



At 30 June 2024

515,024
1,577,864
2,092,888



Depreciation


At 1 July 2023
496,696
986,048
1,482,744


Charge for the year on owned assets
-
143,724
143,724


Disposals
-
(3,986)
(3,986)



At 30 June 2024

496,696
1,125,786
1,622,482



Net book value



At 30 June 2024
18,328
452,078
470,406



At 30 June 2023
-
274,915
274,915


5.


Stocks

2024
2023
£
£

Raw materials
991,607
1,051,802



6.


Debtors

2024
2023
£
£


Trade debtors
582,265
515,704

Amounts owed by group undertakings
260,433
190,109

Other debtors
118,068
97,859

Prepayments and accrued income
101,870
136,088

1,062,636
939,760


Page 7

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
910,119
702,701



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
190,336
219,751

Amounts owed to group undertakings
749,465
570,408

Other taxation and social security
218,992
232,734

Other creditors
243,887
123,381

1,402,680
1,146,274



9.


Deferred taxation




2024


£






At beginning of year
(57,796)


Charged to profit or loss
(39,152)



At end of year
(96,948)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(96,948)
(57,796)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000


Page 8

 
NPZ UK PLANT BREEDING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £93,784 (2023 - £71,346). £7,528 (2023 - £Nil) was payable to the fund at the balance sheet date. 


12.


Related party transactions

During the year the company made purchases from Saaten Union GmbH, an associate company to ultimate parent company, NPZ Lembke KG totalling £843,525 (2023 - £882,792).
The amount due to Saaten Union GmbH at the year end was £273,941 (2023 - £224,783).
During the year the company made sales to NPZ Lembke KG, a group company, totalling £521,535 (2023 - £516,716).
The company made purchases from NPZ Lembke KG, a group company, totalling £1,187,828 (2023 - £915,562)
The amount due from NPZ Lembke KG at the year end was £248,873 (2023 - £168,604).
The amount due to NPZ Lembke KG at the year end was £475,524 (2023 - £345,623)
During the year the company made sales to W.von Borries-Eckendorf GmbH & Co. KG, a fellow subsidiary, totalling £154,945 (2023 - £138,922).
The amount due from W.von Borries-Eckendorf GmbH & Co. KG at the year end was £11,560 (2023 - £21,505).
During the year the company paid dividends of £500,000 (2023 - £750,000) to the parent company, NPZ Lembke Semences S.A.R.L.


13.


Controlling party

The company is controlled by NPZ Lembke Semences S.A.R.L, a company incorporated in France. 
The ultimate controlling party is D Brauer.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 6 March 2025 by Shaun Jordan ACA (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 9