Fertilife Industry Limited

	Page
Strategic Report	1—2
Director's Report	3—4
Independent Auditor's Report	5—8
Consolidated Profit and Loss Account	9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11—12
Company Balance Sheet	13
Consolidated Statement of Changes in Equity	14
Company Statement of Changes in Equity	16
Consolidated Cash Flow Statement	17
Notes to the Consolidated Cash Flow Statement	18
Notes to the Financial Statements	19—25

The director presents his strategic report for the year ended 31 December 2024.

Review of the Business

The past year 2024, has continued to be a very challenging year for the Group .

Production

Despite the decreasing level of sales, the production unit still made its best efforts to maintain production volumes and sales.

The plant has kept a good level of profitability.

The production plant has continued to deliver a high quality product.

Development

The project to extend production capacity has been suspended for an indefinite period of time.

Corporate responsibility

Despite external factors, through the years Group continues to pay hight attention to the health and safety protection, protection human rights, social responsibility, codes of ethics and good practices.

Future plans

In 2025 the Group will continue its goal of strengthening its market position and development of strategic directions.

Principal Risks and Uncertainties

The Company has exposure to the following risks from its use of financial instruments:

o Interest rate risk

o Liquidity risk

o Market risk

The Group's risk management policies are established to identify and analyse the risks faced by the Group, toset appropriate risk limits and controls, and to monitor risks and adherence to limits.

Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group's activities.

Interest-rate risk

The Group's income and operating cash flows are exposed to changes in market interest rates.

Management monitors changes in interest rates and takes steps to mitigate these risks as far as practicable by ensuring that the Group has financial liabilities with both floating and fixed interest rates as appropriate.

Liquidity risk

Since the Group's business is capital-intensive, the lack of available funding and potential increases in market interest rates could have an impact on the Group's ability to obtain financing for the settlement of its liabilities or cash to meet its financial obligations.

The Group has a budgeting policy in place that allows the management to control current liquidity based on expected cash flows. These include, among others, operating cash flows, capital expenditure needs, funds borrowed from financial institutions.

Market risk

Market risk is the risk that the changes in market prices, such as foreign exchange rates and interest rates will affect the Group's income or the value of its holdings of financial instruments.

The objective of market risk management is to manage and control market risk exposure within acceptable parameters, while optimizing the return.

...CONTINUED

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Fertilife Industry Limited

Strategic Report (continued)

For The Year Ended 31 December 2024

Principal Risks and Uncertainties - continued

Capital risk management

The Group actively and regularly reviews and manages its capital position to maintain a balance between its liability and equity level.

Section 172(1) Statement

The board confirm that they have complied with their duty to promote the success of the Group, having due regard to section 172(1) (a) to (f) of the Companies Act 2006.

The decision making by the board has focussed on fostering relationships with stakeholders, comprising suppliers, customers and employees.

Strategic decisions are made with due consideration of the consequences in relation to delivering the long term objectives. The development plans for the Group, in the medium term, is set out in the strategic report.

The Group is conscious that the products which form the basis of the trading activity are chemical based and have a potential for environmental effect. The policy of investment in research and development, noted in the review of business, includes due consideration of environmental protection.

The reputation of the Group is important and this is reflected in the high standards applied when conducting business with all stakeholders.

On behalf of the board

Habiba Shirin

Director

13 May 2026

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Fertilife Industry Limited

Company No. 09909212

Director's Report For The Year Ended 31 December 2024

Director's Report

The director presents his report and the financial statements for the year ended 31 December 2024.

Principal Activity

The gorup's principal activity continues to be that of the wholesale of chemical products.

Directors

The director who held office during the year were as follows:

Habiba Shirin

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

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Fertilife Industry Limited

Director's Report (continued)

For The Year Ended 31 December 2024

Independent Auditors

The auditors, Crane & Partners Audit LLP, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Habiba Shirin

Director

13 May 2026

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Independent Auditor's Report

to the Members of

Fertilife Industry Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Fertilife Industry Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 December 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2024 and of the group's profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Independent Auditor's Report (continued)

to the Members of

Fertilife Industry Limited

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 3—4, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Fertilife Industry Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to those laws which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and tax legislation.

We evaluated management's opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and potential management bias towards accounting estimates.

Audit procedures included discussions with management, challenging assumptions made by management in their significant accounting estimates, and identifying and testing journal entries posted with unusual account combinations.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material fraud is higher than the risk of not detecting one resulting from error, as fraud may be deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Graham Atkin FCA (Senior Statutory Auditor)

for and on behalf of Crane & Partners Audit LLP , Statutory Auditor

13 May 2026

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

Fertilife Industry Limited

Crane & Partners Audit LLP

Leonard House

5-7 Newman Road

Bromley

Kent

BR1 1RJ

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Fertilife Industry Limited

Consolidated Profit and Loss Account

For The Year Ended 31 December 2024

Consolidated Profit and Loss Account

		2024	2023
	Notes	$	$
TURNOVER		5,577,292	6,304,215
Cost of sales		(3,463,186 )	(2,760,226 )

GROSS PROFIT		2,114,106	3,543,989

Administrative expenses		(1,775,411 )	(2,451,876 )

OPERATING PROFIT	3	338,695	1,092,113
Exceptional items		-	(465,413)
Other interest receivable and similar income	7	35,943	1,032
Interest payable and similar charges	8	(332 )	674,426

PROFIT BEFORE TAXATION		374,306	1,302,158
Tax on Profit		(112,399 )	(870,926 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		261,907	431,232


Profit attributable to:
Owners of the parent		207,059	182,917
Non-controlling interest		54,848	248,315

		261,907	431,232

The notes on pages 18 to 25 form part of these financial statements.

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Fertilife Industry Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 December 2024

Consolidated Statement of Comprehensive Income

	2024	2023
	$	$
PROFIT FOR THE FINANCIAL YEAR	261,907	431,232
OTHER COMPREHENSIVE INCOME:
Gain on revaluation of property, plant and equipment	617,697	1,893,622
Gain/(loss) due to foreign exchange differences	107,823	(5,261,018 )

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	987,427	(2,936,164 )


Total comprehensive income attributable to:
Owners of the parent	787,475	(1,417,865)
Non-controlling interest	199,952	(1,518,299)

	987,427	(2,936,164 )

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Fertilife Industry Limited

Consolidated Balance Sheet

As At 31 December 2024

Consolidated Balance Sheet

Registered number: 09909212

		2024		2023
	Notes	$	$	$	$
FIXED ASSETS
Intangible Assets	9		53,234		60,049
Tangible Assets	10		7,522,694		7,258,178

			7,575,928		7,318,227
CURRENT ASSETS
Stocks	12	3,133,452		3,150,750
Debtors	13	6,401,873		5,782,637
Cash at bank and in hand		979,631		782,585

		10,514,956		9,715,972
Creditors: Amounts Falling Due Within One Year	14	(147,241 )		(130,635 )

NET CURRENT ASSETS (LIABILITIES)			10,367,715		9,585,337

TOTAL ASSETS LESS CURRENT LIABILITIES			17,943,643		16,903,564

Creditors: Amounts Falling Due After More Than One Year	15		(1,553,876 )		(1,501,224 )

NET ASSETS			16,389,767		15,402,340

CAPITAL AND RESERVES
Called up share capital	17		1		1
Revaluation reserve			2,511,319		1,893,622
Profit and Loss Account			11,018,752		10,848,974

Equity attributable to owners of the parent			13,530,072		12,742,597
Non-controlling interest			2,859,695		2,659,743

TOTAL EQUITY			16,389,767		15,402,340

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Fertilife Industry Limited

Consolidated Balance Sheet (continued)

As At 31 December 2024

On behalf of the board

Habiba Shirin

Director

13 May 2026

The notes on pages 18 to 25 form part of these financial statements.

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Fertilife Industry Limited

Company Balance Sheet

As At 31 December 2024

Company Balance Sheet

Registered number: 09909212

		2024		2023
	Notes	$	$	$	$
FIXED ASSETS
Investments	11		72,703		72,703

			72,703		72,703
CURRENT ASSETS
Debtors	13	2,368,036		2,368,036
Cash at bank and in hand		10,715		11,047

		2,378,751		2,379,083
Creditors: Amounts Falling Due Within One Year	14	(36,183 )		(24,183 )

NET CURRENT ASSETS (LIABILITIES)			2,342,568		2,354,900

TOTAL ASSETS LESS CURRENT LIABILITIES			2,415,271		2,427,603

NET ASSETS			2,415,271		2,427,603

CAPITAL AND RESERVES
Called up share capital	17		1		1
Profit and Loss Account			2,415,270		2,427,602

SHAREHOLDERS' FUNDS			2,415,271		2,427,603

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's (loss)/profit for the year was £(12,332 ) (2023: £ 1,801,901 profit).

On behalf of the board

Habiba Shirin

Director

13 May 2026

The notes on pages 18 to 25 form part of these financial statements.

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Fertilife Industry Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2024

Consolidated Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total Attributable to Parent
	$	$	$	$
As at 1 January 2023	1	-	14,160,461	14,160,462
Profit for year	-	-	182,917	182,917

Surplus/(Deficit) on revaluation (Revaluation reserve)	-	1,893,622	-	1,893,622
Currency traslation	-	-	(3,494,404)	(3,494,404)

Other comprehensive income for the year	-	1,893,622	(3,494,404 )	(1,600,782 )

Total comprehensive income for the year	-	1,893,622	(3,311,487 )	(1,417,865 )

Dividends paid	-	-	-	-

As at 31 December 2023 and 1 January 2024	1	1,893,622	10,848,974	12,742,597


Profit for year	-	-	207,059	207,059

Surplus/(Deficit) on revaluation (Revaluation reserve)	-	617,697	-	617,697
Currency traslation	-	-	(37,281)	(37,281)

Other comprehensive income for the year	-	617,697	(37,281 )	580,416

Total comprehensive income for the year	-	617,697	169,778	787,475

As at 31 December 2024	1	2,511,319	11,018,752	13,530,072

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Fertilife Industry Limited

Consolidated Statement of Changes in Equity (continued)

For The Year Ended 31 December 2024

	Non-controlling interest	Total
	$	$
As at 1 January 2023	4,178,042	18,338,504
Profit for year	248,315	431,232

Surplus/(Deficit) on revaluation (Revaluation reserve)	-	1,893,622
Currency traslation	(1,766,614)	(5,261,018)

Other comprehensive income for the year	(1,766,614 )	(3,367,396 )

Total comprehensive income for the year	(1,518,299 )	(2,936,164)

Dividends paid	-	-

As at 31 December 2023 and 1 January 2024	2,659,743	15,402,340


Profit for year	54,848	261,907

Surplus/(Deficit) on revaluation (Revaluation reserve)	-	617,697
Currency traslation	145,104	107,823

Other comprehensive income for the year	145,104	725,520

Total comprehensive income for the year	199,952	987,427

As at 31 December 2024	2,859,695	16,389,767

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Fertilife Industry Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2024

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	$	$	$
As at 1 January 2023	1	625,701	625,702
Profit for the year and total comprehensive income	-	1,801,901	1,801,901

As at 31 December 2023 and 1 January 2024	1	2,427,602	2,427,603


Loss for the year and total comprehensive income	-	(12,332 )	(12,332)

As at 31 December 2024	1	2,415,270	2,415,271

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Fertilife Industry Limited

Consolidated Cash Flow Statement

For The Year Ended 31 December 2024

Consolidated Cash Flow Statement

		2024	2023
	Notes	$	$
Cash flows from operating activities
Net cash generated from operations	1	934,976	1,190,785
Interest paid		(332 )	(99,745 )
Tax paid		(112,399 )	(870,926 )

Net cash generated from operating activities		822,245	220,114

Cash flows from investing activities
Purchase of intangible assets		(1,621 )	-
Purchase of tangible assets		(712,173 )	(711,129 )
Interest received		35,943	1,032

Net cash used in investing activities		(677,851 )	(710,097 )

Cash flows from financing activities
Proceeds from new bank borrowings		52,652	-



Increase/(decrease) in cash and cash equivalents		197,046	(489,983 )
Cash and cash equivalents at beginning of year	2	782,585	1,272,568

Cash and cash equivalents at end of year	2	979,631	782,585

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Fertilife Industry Limited

Notes to the Consolidated Cash Flow Statement

For The Year Ended 31 December 2024

Notes to the Consolidated Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	$	$
Profit for the financial year	261,907	431,232
Adjustments for:
Tax on profit	112,399	870,926
Interest expense	332	99,745
Interest income	(35,943 )	(1,032 )
Amortisation of intangible assets	8,436	13,505
Depreciation of tangible assets	424,867	680,321
Foreign exchange losses/(gains)	748,310	(2,122,425)
Movements in working capital:
Decrease in stocks	17,298	714,546
(Increase)/decrease in trade and other debtors	(619,236 )	3,018,228
Increase/(decrease) in trade and other creditors	16,606	(2,514,261 )

Net cash generated from operations	934,976	1,190,785

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	$	$
Cash at bank and in hand	979,631	782,585

3. Analysis of changes in net debt

	As at 1 January 2024	Cash flows	As at 31 December 2024
	$	$	$
Cash at bank and in hand	782,585	197,046	979,631
Debts falling due after more than one year	(1,501,224)	(52,652)	(1,553,876)

	(718,639)	144,394	(574,245)

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Fertilife Industry Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Fertilife Industry Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09909212 . The registered office is Leonard House, 5 - 7 Newman Road, Kent, BR1 1RJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company its subsidiary undertaking made up to 31 December 2024.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	5% Reducing balance
Plant & Machinery	8% Reducing balance
Motor Vehicles	7% Reducing balance

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Fertilife Industry Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Stocks and Work in Progress

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 stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Fertilife Industry Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Operating Profit

The operating profit is stated after charging:

	2024	2023
	$	$
Depreciation of tangible fixed assets	424,867	680,321
Amortisation of intangible fixed assets	8,436	13,505

4. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2024	2023
	$	$
Audit Services
Audit of the group and company's financial statements	6,000	6,000


Other Services
Other non-audit services	6,000	6,000

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	$	$
Wages and salaries	1,059,472	1,044,741

6. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	Group		Company
	2024	2023	2024	2023
Office and administration	15	26	1	1
Manufacturing	63	56	-	-

	78	82	1	1

7. Interest Receivable and Similar Income

	2024	2023
	$	$
Bank interest receivable	35,943	1,032

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Fertilife Industry Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Interest Payable and Similar Charges

	2024	2023
	$	$
Bank loans and overdrafts	-	99,745
Foreign exchange charges	332	(774,171 )

	332	(674,426)

9. Intangible Assets

Group

	Other
	$
Cost
As at 1 January 2024	96,566
Additions	1,621

As at 31 December 2024	98,187

Amortisation
As at 1 January 2024	36,517
Provided during the period	8,436

As at 31 December 2024	44,953

Net Book Value
As at 31 December 2024	53,234

As at 1 January 2024	60,049

Company

The company had no intangible fixed assets as at 31 December 2024 or 31 December 2023.

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Fertilife Industry Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Tangible Assets

Group

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	$	$	$	$
Cost or Valuation
As at 1 January 2024	3,391,286	7,424,303	53,179	10,868,768
Additions	381,001	261,349	69,823	712,173
Revaluation	-	(22,790 )	-	(22,790 )

As at 31 December 2024	3,772,287	7,662,862	123,002	11,558,151

Depreciation
As at 1 January 2024	504,114	3,060,785	45,691	3,610,590
Provided during the period	125,198	295,516	4,153	424,867

As at 31 December 2024	629,312	3,356,301	49,844	4,035,457

Net Book Value
As at 31 December 2024	3,142,975	4,306,561	73,158	7,522,694

As at 1 January 2024	2,887,172	4,363,518	7,488	7,258,178

Company

The company had no tangible fixed assets as at 31 December 2024 or 31 December 2023.

11. Investments

Company

	Subsidiaries
	$
Cost
As at 1 January 2024	72,703

As at 31 December 2024	72,703

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	72,703

As at 1 January 2024	72,703

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Fertilife Industry Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Stocks

	2024	2023
	$	$
Stock	3,133,452	3,150,750

13. Debtors

	Group		Company
	2024	2023	2024	2023
	$	$	$	$
Due within one year
Trade debtors	4,033,531	3,414,298	-	-
Amounts owed by group undertakings	1,708,967	1,708,967	1,708,967	1,708,967
Amounts owed by participating interests	578,656	578,656	578,656	578,656
Other debtors	80,719	80,716	80,413	80,413

	6,401,873	5,782,637	2,368,036	2,368,036

14. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2024	2023	2024	2023
	$	$	$	$
Trade creditors	111,058	106,452	-	-
Accruals and deferred income	36,183	24,183	36,183	24,183

	147,241	130,635	36,183	24,183

15. Creditors: Amounts Falling Due After More Than One Year

	Group
	2024	2023
	$	$
Bank loans	1,553,876	1,501,224

16. Loans

An analysis of the maturity of loans is given below:

	Group
	2024	2023
	$	$
Amounts falling due between one and five years:
Bank loans	1,553,876	1,501,224

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Fertilife Industry Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

17. Share Capital

	2024	2023
Allotted, called up and fully paid	$	$
1 Ordinary shares of $ 1.00 each	1	1

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