REGISTERED NUMBER: 12431630 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SMAXTEC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

C P Howarth

REGISTERED OFFICE:

10 Warren House

Deepdale Business Park

Bakewell

Derbyshire

DE45 1GT

REGISTERED NUMBER:

12431630 (England and Wales)

ACCOUNTANTS:

Cooper Parry Advisory Limited

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Tangible assets

4

12,850

27,102

CURRENT ASSETS

Stocks

229,442

187,667

Debtors

5

547,134

367,682

Cash at bank

197,685

101,027

974,261

656,376

CREDITORS

Amounts falling due within one year

6

2,746,959

2,387,104

NET CURRENT LIABILITIES

(1,772,698

)

(1,730,728

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,759,848

)

(1,703,626

)

CREDITORS

Amounts falling due after more than one year

7

604,613

604,313

NET LIABILITIES

(2,364,461

)

(2,307,939

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(2,364,561

)

(2,308,039

)

SHAREHOLDERS' FUNDS

(2,364,461

)

(2,307,939

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 and authorised for issue by the director and authorised for issue on 31 October 2025 and were signed by:

C P Howarth - Director

1.	STATUTORY INFORMATION

Smaxtec Limited 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

At the balance sheet date the company had net liabilities of £2,307,939. The ability of the company to continue trading is dependant upon the continued support of the companys creditors. The director is of the opinion that this support will continue for the foreseeable future and so considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not contain any adjustments that would be required if this support were to be withdrawn.

Turnover

Turnover represents the total invoiced value of goods supplied by the company in the ordinary course of business, net of trade discounts, value added tax (VAT), and other sales-related taxes.

Revenue is recognised when the following conditions are met:

1.Sale of goods: Revenue from the sale of agricultural machinery, equipment, and supplies is recognised when control of the goods has passed to the customer, which is typically upon delivery or collection, and when it is probable that economic benefits associated with the transaction will flow to the company.

2. Delivery terms: Where goods are delivered to customers, revenue is recognised at the point of delivery, in accordance with the agreed terms or delivery conditions.

3. Payment terms: Revenue is recognised only when the amount of consideration can be measured reliably and collection is reasonably assured under the terms of sale.

4. Returns and warranties: Provision is made for expected returns and warranty obligations where applicable, based on historical trends and contractual terms.

The company does not engage in long-term contracts or provide installation services. All revenue is derived from wholesale transactions with agricultural businesses and distributors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life.

Plant and machinery

25% on cost

Furniture and fittings

25% on cost

Motor vehicles

25% on cost

Computer equipment

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

50,320

Additions

1,889

Disposals

(27,214

)

At 31 December 2024

24,995

DEPRECIATION

At 1 January 2024

23,218

Charge for year

5,918

Eliminated on disposal

(16,991

)

At 31 December 2024

12,145

NET BOOK VALUE

At 31 December 2024

12,850

At 31 December 2023

27,102

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

514,836

348,775

Other debtors

32,298

18,907

547,134

367,682

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

25,828

20,899

Amounts owed to group undertakings

2,442,192

2,288,931

Taxation and social security

156,741

48,309

Other creditors

122,198

28,965

2,746,959

2,387,104

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Other creditors

604,613

604,313

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

100

Ordinary

£1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

as restated

£

£

C P Howarth

Balance outstanding at start of year

2,918

1,194

Amounts advanced

3,803

1,724

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,721

2,918

10.	RELATED PARTY DISCLOSURES

smaXtec Limited is wholly owned by smaXtec animal care GmbH.

During the period smaXtec Limited issued invoices totalling £1.205.612 (2023 - £6,108) to smaXtec animal care GmbH.

During the period smaXtec animal care GmbH issued invoices totalling £1.397.588 (2023 - £831,770) to smaXtec Limited.

During the period smaXtec animal care GmbH paid expenses on behalf of smaXtec Limited totalling £90.303 (2023 - £145,332).

During the period smaXtec animal care GmbH loaned €Nil (2023 - €Nil) to smaXtec Limited plus accrued interest of €nil (2023 - €nil).

The balance due to smaXtec animal care GmbH as at 31 December 2024 was £3,049,178 (2023: £2,893,244).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is smaXtec animal care GmbH.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Cooper Parry Advisory Limited

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

Date: .............................................