Company Registration No. 7832790 (England and Wales)
Promixx Limited
Unaudited accounts
for the year ended 31 March 2025
Promixx Limited
Unaudited accounts
Contents
Promixx Limited
Company Information
for the year ended 31 March 2025
Directors
Joseph Faulkner-Edwards
John Cooper
David Manston
Company Number
7832790 (England and Wales)
Registered Office
14 Trade Street
Cardiff
CF10 5DT
Accountants
JSVM Limited
Certified Public Accountants
23a Dawkins Road
Poole
Dorset
BH15 4JY
Promixx Limited
Statement of financial position
as at 31 March 2025
Intangible assets
2,075,731
1,840,257
Tangible assets
237,893
251,047
Inventories
1,892,424
745,730
Debtors
4,065,972
2,579,617
Cash at bank and in hand
254,768
327,030
Creditors: amounts falling due within one year
(6,391,959)
(2,709,253)
Net current (liabilities)/assets
(178,795)
943,124
Total assets less current liabilities
2,134,984
3,034,583
Creditors: amounts falling due after more than one year
(65,552)
(125,997)
Net assets
2,069,432
2,908,586
Called up share capital
31,335
31,111
Share premium
1,954,142
1,952,291
Profit and loss account
83,955
925,184
Shareholders' funds
2,069,432
2,908,586
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by
Joseph Faulkner-Edwards
Director
Company Registration No. 7832790
Promixx Limited
Notes to the Accounts
for the year ended 31 March 2025
Promixx Limited is a private company, limited by shares, registered in England and Wales, registration number 7832790. The registered office is 14 Trade Street, Cardiff, CF10 5DT.
2
Compliance with accounting standards
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". The financial statements have been prepared under the historical cost convention.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 2The 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 accounts have been prepared under the historical cost convention.
Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group which comprises a small-sized group.
The group has taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts and not to disclose related party transactions with wholly owned subsidiaries within the group.
The accounts are presented in £ sterling.
Turnover represents the value, net of Value Added Tax, other sales taxes and discounts allowed, of goods and services provided to customers.
Turnover is recognised within the financial statements upon the receipt of payment from consumers or the invoicing and delivery of goods to trade customers.
Tangible fixed assets policy
Fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land & buildings
5 Years Straight Line
Plant & machinery
3 Years Straight Line
Fixtures & fittings
3 Years Straight Line
Computer equipment
3 Years Straight Line
Intellectual property is initially capitalised at cost and is subsequently carried at cost less accumulated amortisations and accumulated impairment losses.
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives.
Impairment of intangible fixed assets is reviewed annually and provided for within the financial statements where circumstances indicate that the carrying value of an asset is likely to not be fully recoverable.
Promixx Limited
Notes to the Accounts
for the year ended 31 March 2025
Expenditure on research and development is capitalised as product development costs in the year in which it is incurred to the extent that it can be demonstrated that:
- it is technically feasible to develop the product to be sold;
- adequate resources are available to complete the development;
- there is an intention to complete and sell the product;
- the company is able to sell the product;
- sale of the product will generate future economic benefits; and
- expenditure on the project can be measured reliably.
Capitalised development costs are amortised from the date of successful product trials over the periods in which the company expects to benefit from selling the products developed.
The useful life and the value of the capitalised development cost are assessed for impairment annually.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in in Group undertakings are stated at cost less any provision for impairment.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Intangible fixed assets
Goodwill
Other
Total
At 1 April 2024
1,000
2,410,142
2,411,142
Additions
-
422,779
422,779
At 31 March 2025
1,000
2,832,921
2,833,921
At 1 April 2024
1,000
569,885
570,885
Charge for the year
-
187,305
187,305
At 31 March 2025
1,000
757,190
758,190
At 31 March 2025
-
2,075,731
2,075,731
At 31 March 2024
-
1,840,257
1,840,257
Promixx Limited
Notes to the Accounts
for the year ended 31 March 2025
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2024
405,936
83,303
489,239
Additions
25,191
29,682
54,873
At 31 March 2025
431,127
112,985
544,112
At 1 April 2024
162,661
75,531
238,192
Charge for the year
57,764
10,263
68,027
At 31 March 2025
220,425
85,794
306,219
At 31 March 2025
210,702
27,191
237,893
At 31 March 2024
243,275
7,772
251,047
6
Investments
Subsidiary undertakings
Valuation at 1 April 2024
155
Valuation at 31 March 2025
155
The following subsidiaries are trading 100% direct subsidiaries of the Company:
Promixx Inc
registered in the United States of America with its Registered Office at 251 Little Falls Drive, Wilmington, New Castle, 19808;
Promixx Products (Europe) Limited
registered in the Republic of Ireland with its Registered Office at Inniscarra, Main Street Rathcoole, Co. Dublin, D24 EO29 Ireland.
The following subsidiaries are all non-trading 100% direct subsidiaries of the Company registered in the United Kingdom and sharing the Company's Registered Office address of 14 Trade Street, Cardiff, CF10 5DT:
Whey Forward Health Industries Limited
Vitality Whey Limited
Trade Xpansions Limited
Regenative Limited
Purism Limited
Amounts falling due within one year
Trade debtors
2,097,891
63,249
Amounts due from group undertakings etc.
1,777,072
1,416,455
Accrued income and prepayments
106,907
217,717
Other debtors
84,102
882,196
Promixx Limited
Notes to the Accounts
for the year ended 31 March 2025
8
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
2,754,677
2,191,276
Trade creditors
1,392,947
213,581
Taxes and social security
11,170
15,972
Deferred income
2,017,008
24,924
9
Creditors: amounts falling due after more than one year
2025
2024
Allotted, called up and fully paid:
3,133,530 Ordinary shares of £0.01 each
31,335.30
31,111.00
Shares issued during the period:
22,430 Ordinary shares of £0.01 each
224.30
A director's loan account of £8,900 is included within other debtors. This loan is interest-free and repayable on demand.
12
Average number of employees
During the year the average number of employees was 11 (2024: 12).