Payne Crop Nutrition Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10344600

Payne Crop Nutrition Limited

Unaudited financial statements

31 July 2025

Payne Crop Nutrition Limited

Statement of financial position

31 July 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	368,365	440,953
Investments	6	27,000	54,772
		---------	---------
		395,365	495,725

Current assets

Stocks		1,178,358	731,013
Debtors	7	880,686	770,983
Cash at bank and in hand		1,215,444	2,217,998
		-----------	-----------
		3,274,488	3,719,994

Creditors: Amounts falling due within one year	8	( 2,520,230)		( 3,074,757)
		-----------		-----------
Net current assets			754,258		645,237
			-----------		-----------
Total assets less current liabilities			1,149,623		1,140,962

Creditors: Amounts falling due after more than one year	9		( 27,799)		( 41,589)

Provisions

Taxation including deferred tax		( 64,322)		( 96,916)

Accruals and deferred income	( 262,337)	( 231,279)
	-----------	-----------
Net assets	795,165	771,178
	-----------	-----------

Capital and reserves

Called up share capital	10	500,000	500,000
Profit and loss account		295,165	271,178
		---------	---------
Shareholders funds		795,165	771,178
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Payne Crop Nutrition Limited

Statement of financial position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 28 October 2025 , and are signed on behalf of the board by:

Mr D W Payne

Director

Company registration number: 10344600

Payne Crop Nutrition Limited

Notes to the financial statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fakenham Agri-Park, Hempton, Fakenham, NR21 7DY, Norfolk.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	Over the period of the lease
Plant and machinery	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the straight line method.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 9 (2024: 10 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 August 2024	17,145	874,527	196,353	38,215	1,126,240
Additions	–	132,649	–	–	132,649
Disposals	–	( 108,500)	( 19,800)	–	( 128,300)
	-------	---------	---------	-------	-----------
At 31 July 2025	17,145	898,676	176,553	38,215	1,130,589
	-------	---------	---------	-------	-----------
Depreciation
At 1 August 2024	429	589,644	68,985	26,229	685,287
Charge for the year	1,716	101,094	36,283	6,215	145,308
Disposals	–	( 50,633)	( 17,738)	–	( 68,371)
	-------	---------	---------	-------	-----------
At 31 July 2025	2,145	640,105	87,530	32,444	762,224
	-------	---------	---------	-------	-----------
Carrying amount
At 31 July 2025	15,000	258,571	89,023	5,771	368,365
	-------	---------	---------	-------	-----------
At 31 July 2024	16,716	284,883	127,368	11,986	440,953
	-------	---------	---------	-------	-----------

6. Investments

	Other investments
	£
Cost
At 1 August 2024 and 31 July 2025	54,772
	-------
Impairment
At 1 August 2024	–
Impairment losses	27,772
	-------
At 31 July 2025	27,772
	-------

Carrying amount
At 31 July 2025	27,000
	-------
At 31 July 2024	54,772
	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	719,681	644,797
Prepayments and accrued income	86,574	76,876
Other debtors	74,431	49,310
	---------	---------
	880,686	770,983
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans	9,167	10,000
Trade creditors	928,411	829,791
Social security and other taxes	289,345	390,050
Other loans	1,260,000	1,800,000
Obligations under finance leases and hire purchase contracts	33,307	44,916
	-----------	-----------
	2,520,230	3,074,757
	-----------	-----------

Obligations under finance leases and hire purchase contracts are secured on the assets concerned .

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans	–	9,167
Obligations under finance leases and hire purchase contracts	27,799	32,422
	-------	-------
	27,799	41,589
	-------	-------

Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	500,000	500,000	500,000	500,000
	---------	---------	---------	---------

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	174,659	174,659
Later than 1 year and not later than 5 years	698,637	698,637
Later than 5 years	654,972	829,632
	-----------	-----------
	1,528,268	1,702,928
	-----------	-----------