Registered number
12213708
MICOVA LTD
Filleted Abridged Accounts
31 December 2024

MICOVA LTD
Registered number: | 12213708
Abridged Balance Sheet
as at 31 December 2024
Notes |  |  | 2024 |  |  | 2023
$ | $
Fixed assets
Intangible assets | 5 |  |  | 142,093 |  |  | 142,093
Net current assets |  |  |  | - |  |  | -
Total assets less current liabilities |  |  |  | 142,093 |  |  | 142,093
Creditors: amounts falling due after more than one year | 9 |  |  | (241,158) |  |  | (241,044)
Net liabilities |  |  |  | (99,065) |  |  | (98,951)
Capital and reserves
Called up share capital | 10 |  |  | 175,000 |  |  | 175,000
Profit and loss account |  |  |  | (274,065) |  |  | (273,951)
Shareholders' funds |  |  |  | (99,065) |  |  | (98,951)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS 102, “the Financial Reporting Standard applicable in the UK and Republic of Ireland”.
The directors have chosen not to file a copy of the company’s profit and loss account.
Abayomi Awobokun
Director
Approved by the board on 15 September 2025

MICOVA LTD
Notes to the Abridged Accounts
for the year ended 31 December 2024
1 | General information
| MICOVA LTD is a private company limited by shares and incorporated in England and Wales. The address of its registered office is:
| 130 Portway
| London
| E15 3QJ
| It is expected that the Company will cease its holding activities and be in the process of being closed over the course of the next twelve months.
2 | Statement of Compliance
| These abridged financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102, “The Financial Reporting Standard applicable to the UK and Republic of Ireland”.
3 | Accounting policies
| The principal accounting policies applied in the preparation of these financial statements are set out below. The company has adopted FRS 102, Section 1A (Small Entities) in these financial statements. These policies have been consistently applied to all the periods presented, unless otherwise stated.
| Basis of preparation
| These financial statements are prepared for the period from 1 January 2024 to 31 December 2024. Comparative information is for the period from 1 January 2023 to 31 December 2023.
| As noted in the Directors’ report, the Company will cease its activities over the course of the next twelve months and accordingly the abridged financial statements have been prepared on a basis other than going concern. All assets have been considered at their realisable value.
| The directors have requested confirmation that the Company’s shareholders and lenders waive their loans and continue to provide the necessary level of support to enable the Company to meet its remaining liabilities.
| Group accounts not prepared
| The Company was exempt from the requirement to prepare group accounts under section 399 of the Act as it qualifies as small in accordance with section 383 of the Act.
| Foreign currency
| The Company’s functional and accounts presentation currency is the United States dollar (“USD”). All figures filed are in USD.
| Foreign currency transactions are translated into functional currency using the spot exchange rates at the dates of the transaction. 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 the profit and loss account.
| Fixed assets
| Intangible assets are investments in manufacturing process design studies and market studies. They are initially recognised at cost and are stated at the amount initially recognized, less accumulated amortisation and accumulated impairment losses. Amortisation will commence when the intangible asset is available for use and the depreciable amount will be allocated on a systematic basis over its useful life.
| The investment in equity shares is held at cost less accumulated impairment loss.
| Fixed assets are tested for impairment if there is any indication that an asset may be impaired at the balance sheet date. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount if the impairment test indicates that the recoverable amount is less than its carrying amount.
| Share capital and distributions to equity holders
| Ordinary shares are classified as equity. Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company’s shareholders.
4 | Employees | 2024 |  | 2023
Number | Number
| Average number of persons employed by the company | 0 |  | 0
5 | Intangible fixed assets | $
| Cost
| At 1 January 2024 | 142,093
| At 31 December 2024 | 142,093
| Amortisation
| At 31 December 2024 | -
| Net book value
| At 31 December 2024 | 142,093
| At 31 December 2023 | 142,093
6 | Investments
Investments in
subsidiary | Other
undertakings | investments | Total
$ | $ | $
| Cost
| At 31 December 2024 | - |  | - |  | -
| Details of undertakings
| Details of the investments in which the Company holds 20 % or more of the nominal value of any class of share capital are as follows:
| Undertaking | Registered office |  | Holding |  | Proportion of voting rights and shared held
|  |  |  |  |  | 2023 |  | 2022
| Imolede Chemicals FZE | Nigeria | Ordinary | 100% |  | 100%
| Fertilizer Rocks Limited | Nigeria | Ordinary | 99.99% |  | 99.99%
| The principal activity of Imolede Chemicals FZE is to engage in the business of manufacturing and marketing Fertilisers in West Africa. The company ceased trading in 2022
| The principal activity of Fertilizer Rocks Limited is the in-country distribution of domestically produced urea for agricultural uses. The company ceased trading in 2022
7 | Other creditors – amounts falling due after one year | 2024 |  | 2023
$ | $
| Shareholder loans | 144,344 |  | 144,230
| Other loans and borrowings | 96,814 |  | 96,814
|  |  |  |  |  | 241,158 |  | 241,044
| For loans from the Company’s shareholders, there are no interest or repayment terms currently in place.
8 | Share capital
| Allotted, called up and fully paid shares
|  | 2024 |  |  |  | 2023
Number | $ | Number | $
| Ordinary fully paid shares of $1 | 175,000 |  | 1 |  | 175,000 |  | 1
9 | Related party transactions
| During the year the Company’s shareholders have advanced an additional $114 to the Company (2023: $551). The shareholder loans amount to $144,344 as at 31 December 2024 (2023: $144,230). There are no interest or repayment terms currently in place.
10 | Events after the reporting date
| The Company has no significant post balance-sheet event to report.

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