REGISTERED NUMBER: 06911560 (England and Wales)

Billericay Fertiliser Services Limited

Group strategic report,

Report of the directors and

Consolidated financial statements

for the year ended 31 December 2025

Page

Company information

1

Group strategic report

2

Report of the directors

4

Report of the independent auditors

6

Consolidated statement of comprehensive income

10

Consolidated balance sheet

11

Company balance sheet

13

Consolidated statement of changes in equity

15

Company statement of changes in equity

16

Consolidated cash flow statement

17

Notes to the consolidated cash flow statement

18

Notes to the consolidated financial statements

20

Directors:

R J Platt

S H Nichols

D Platt

Registered office:

Quaintways, Workhouse Lane

South Woodham Ferrers

Chelmsford

CM3 8RD

Registered number:

06911560 (England and Wales)

Auditors:

Clay Ratnage Strevens & Hills

Chartered Accountants and

Statutory Auditor

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

The group's principal activities are that of the manufacture, storage and retail of liquid and suspension fertilisers. There have been no changes to these activities during the year.

Review of business

The directors are pleased with the performance of the group, considering the market conditions prevailing during the year under review.

The group's gross profit for the year increased to £2,399,658 for the year ended 31 December 2025 (2024 - £2,338,984). However, the group's gross profit margin has decreased from 23.7% in 2024 to 21.1% for 2025.

The conflict in the Ukraine contributed to a significant increase in the price of fuel and other raw materials of fertiliser during the previous year. The market became more stable during the year under review, leading to a decrease in the price of raw materials as more supply lines became available. These prices have remained in line with historic levels subsequent to the year end.

Profit before tax has increased from £938,907 to £949,685, this is mainly attributable to the increase in turnover during the year.

The directors will continue to develop and invest in the group’s research and development with regards to the formulation of commercial fertiliser.

The directors are pleased with the state of the financial affairs of the group at the balance sheet date.

Principal risks and uncertainties

The group has invested significantly in its infrastructure to ensure that it is able to deal with any changes in the industry.

Other general principal risks and uncertainties identified by the directors of the group relate to factors concerning the price volatility of raw materials; the effect of government taxation; and environmental policies. The group is, however, in a good position operationally to adapt to continuing challenges.

Financial key performance indicators

The directors consider that the key financial performance indicators are as follows:

Gross Profit Percentage - The directors confirm that the gross profit percentage has decreased to 21.1% (2024 - 23.7%), which is in line with expectations. The directors believe that margins will remain fairly consistent in the short to medium term.

Trade Receivable Days - The directors confirm that trade receivable days have decreased slightly to 29 days (2024 - 32 days), the decrease indicates that the credit control procedures have been more stringent than during the previous year. The directors expect trade receivable days to remain consistent in subsequent years, however they may place focus on trying to reduce this.

On behalf of the board:

R J Platt - Director

4 June 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2025.

Principal activity

The principal activity of the group in the year under review was that of the manufacture and retail of liquid and suspension fertilisers. There have been no changes to these activities during the year.

Dividends

Dividends amounting to £100,000 (2024 - £100,000) were paid during the year. The directors do not recommend the payment of any further dividends.

Research and development

The group is currently involved in numerous research and development projects relating primarily to the formulation of new fertiliser products.

Future developments

The directors are not aware of any likely future developments which would have a significant effect on the group.

Directors

The directors who served during the year were:

R J Platt

S H Nichols

D Platt

Fixed assets

Details of movements in fixed assets are set out in the notes to the accounts.

Events since the end of the year

There have been no events subsequent to the year end which materially affect the results for the year or the group's state of affairs at 31 December 2025.

Close company

The parent company and its subsidiary are close companies within the meaning of S.439 CTA 2010.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Report of the directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the 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. They are 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.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006, Clay Ratnage Strevens & Hills will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

On behalf of the board:

R J Platt - Director

4 June 2026

Opinion

We have audited the financial statements of Billericay Fertiliser Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated statement of comprehensive income, Consolidated balance sheet, Company balance sheet, Consolidated statement of changes in equity, Company statement of changes in equity, Consolidated cash flow statement and Notes to the consolidated cash flow statement, Notes to the financial statements, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's profit 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 directors' 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's and the parent company's ability to continue as a going concern for a period of at least twelve 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 directors are responsible for the other information. The other information comprises the information in the Group strategic report and the Report of the directors, but does not include the financial statements and our Report of the auditors thereon.

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.

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 Group strategic report and the Report of the directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group strategic report and the Report of the directors 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 the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Report of the directors.

We have nothing to report in respect of the following matters where 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 and returns; or

-	certain disclosures of directors' 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 Directors' responsibilities statement set out on page five, the directors are 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 directors determine 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 directors are responsible for assessing the group's and the 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.

Auditors' 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 a Report of the auditors 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:

To identify risks of material misstatement due to fraud we assess events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures include:

-

Obtaining an understanding of the legal and regulatory frameworks applicable to the group and the sectors in which it operates.

-

Obtaining an understanding of how the group is complying with those legal and regulatory frameworks by making enquiries to the group accounting department and management.

-

Assessing the susceptibility of the group financial statements to material misstatement caused by fraud or other irregularities, by undertaking the following procedures:

-

Identifying and assessing the design effectiveness of controls which management have in place to prevent and detect fraud.

-

Understanding how those charged with governance consider and address the potential for override of controls and management bias.

-

Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

-

Assessing the extent of compliance with the relevant laws and regulations.

-

Assessing the extent to which pressures exist which may increase the risk of fraudulent revenue recognition.

Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team, as well as potential risks pertaining to the group of which this company is a member.

The inherent limitations of audit present an unavoidable risk that we, the auditors, may not detect some material misstatements within the financial statements despite proper planning and performance of our duties as auditors. Equally, there remains a risk of the non-detection of fraud which could involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. The audit procedures carried out are designed to detect material misstatements within the financial statements. We take no responsibility for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

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 we are required to state to them in a Report of the auditors 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.

Steven James Garrod (Senior Statutory Auditor)

for and on behalf of Clay Ratnage Strevens & Hills

Chartered Accountants and

Statutory Auditor

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

4 June 2026

Revenue

4

11,375,954

9,877,115

Cost of sales

8,976,298

7,538,131

Gross profit

2,399,656

2,338,984

Administrative expenses

1,657,192

1,603,945

742,464

735,039

Other operating income

60,000

60,000

Operating profit

6

802,464

795,039

Interest receivable and similar income

7

154,608

149,774

957,072

944,813

Interest payable and similar expenses

8

7,388

5,906

Profit before taxation

949,684

938,907

Tax on profit

9

255,460

237,526

Profit for the financial year

694,224

701,381

Other comprehensive income

-

-

Total comprehensive income for the year

694,224

701,381

Profit attributable to:

Owners of the parent

694,224

701,381

Total comprehensive income attributable to:

Owners of the parent

694,224

701,381

Fixed assets

Tangible assets

12

2,181,275

2,165,664

Investments

13

-

-

2,181,275

2,165,664

Current assets

Stock

14

1,908,000

1,636,000

Debtors

15

1,218,879

1,001,373

Cash at bank

4,573,138

4,110,506

7,700,017

6,747,879

Creditors

Amounts falling due within one year

16

2,286,081

1,937,832

Net current assets

5,413,936

4,810,047

Total assets less current liabilities

7,595,211

6,975,711

Creditors

Amounts falling due after more than one year

17

(18,807

)

(2,863

)

Provisions for liabilities

20

(276,227

)

(266,895

)

Net assets

7,300,177

6,705,953

Capital and reserves

Called up share capital

21

35,340

35,340

Share premium

251,148

251,148

Revaluation reserve

809,373

809,373

Capital redemption reserve

43,820

43,820

Retained earnings

6,160,496

5,566,272

Shareholders' funds

7,300,177

6,705,953

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

R J Platt - Director

Fixed assets

Tangible assets

12

1,920,661

1,879,321

Investments

13

100

100

1,920,761

1,879,421

Current assets

Stock

14

1,908,000

1,636,000

Debtors

15

1,405,993

1,218,190

Cash at bank

4,548,218

4,098,399

7,862,211

6,952,589

Creditors

Amounts falling due within one year

16

2,260,214

1,913,680

Net current assets

5,601,997

5,038,909

Total assets less current liabilities

7,522,758

6,918,330

Creditors

Amounts falling due after more than one year

17

(18,807

)

(2,863

)

Provisions for liabilities

20

(235,807

)

(225,472

)

Net assets

7,268,144

6,689,995

Capital and reserves

Called up share capital

21

35,340

35,340

Share premium

251,148

251,148

Revaluation reserve

809,373

809,373

Capital redemption reserve

43,820

43,820

Retained earnings

6,128,463

5,550,314

Shareholders' funds

7,268,144

6,689,995

Company's profit for the financial year

678,149

699,925

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

R J Platt - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2024

35,340

4,964,891

251,148

Changes in equity

Dividends on equity shares

-

(100,000

)

-

Total comprehensive income

-

701,381

-

Balance at 31 December 2024

35,340

5,566,272

251,148

Changes in equity

Dividends on equity shares

-

(100,000

)

-

Total comprehensive income

-

694,224

-

Balance at 31 December 2025

35,340

6,160,496

251,148

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1 January 2024

809,373

43,820

6,104,572

Changes in equity

Dividends on equity shares

-

-

(100,000

)

Total comprehensive income

-

-

701,381

Balance at 31 December 2024

809,373

43,820

6,705,953

Changes in equity

Dividends on equity shares

-

-

(100,000

)

Total comprehensive income

-

-

694,224

Balance at 31 December 2025

809,373

43,820

7,300,177

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2024

35,340

4,950,389

251,148

Changes in equity

Total comprehensive income

-

699,925

-

Dividends on equity shares

-

(100,000

)

-

Balance at 31 December 2024

35,340

5,550,314

251,148

Changes in equity

Total comprehensive income

-

678,149

-

Dividends on equity shares

-

(100,000

)

-

Balance at 31 December 2025

35,340

6,128,463

251,148

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1 January 2024

809,373

43,820

6,090,070

Changes in equity

Total comprehensive income

-

-

699,925

Dividends on equity shares

-

-

(100,000

)

Balance at 31 December 2024

809,373

43,820

6,689,995

Changes in equity

Total comprehensive income

-

-

678,149

Dividends on equity shares

-

-

(100,000

)

Balance at 31 December 2025

809,373

43,820

7,268,144

Cash flows from operating activities

Cash generated from operations

1

519,736

1,344,519

Interest element of hire purchase payments paid

(1,872

)

(4,545

)

Finance costs paid

(5,516

)

(1,361

)

Tax paid

(406,946

)

(208,866

)

Net cash from operating activities

105,402

1,129,747

Cash flows from investing activities

Purchase of tangible fixed assets

(248,243

)

(122,203

)

Sale of tangible fixed assets

37,001

19,977

Interest received

154,608

149,774

Net cash from investing activities

(56,634

)

47,548

Cash flows from financing activities

Capital repayments in year

(925

)

(66,662

)

Amount introduced by directors

183,118

69,161

Amount withdrawn by directors

(224,869

)

(24,953

)

Equity dividends paid

(100,000

)

(100,000

)

Net cash from financing activities

(142,676

)

(122,454

)

(Decrease)/increase in cash and cash equivalents

(93,908

)

1,054,841

Cash and cash equivalents at beginning of year

2

4,110,506

3,055,665

Cash and cash equivalents at end of year

2

4,016,598

4,110,506

1.	Reconciliation of profit before taxation to cash generated from operations

2025

2024

£

£

Profit before taxation

949,684

938,907

Depreciation charges

205,602

210,225

(Profit)/loss on disposal of fixed assets

(9,971

)

14,922

Finance costs

7,388

5,906

Finance income

(154,608

)

(149,774

)

998,095

1,020,186

(Increase)/decrease in stock

(272,000

)

6,000

(Increase)/decrease in trade and other debtors

(186,009

)

316,488

(Decrease)/increase in trade and other creditors

(20,350

)

1,845

Cash generated from operations

519,736

1,344,519

2.	Cash and cash equivalents

The amounts disclosed on the Cash flow statement in respect of cash and cash equivalents are in respect of these Balance sheet amounts:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

4,573,138

4,110,506

Bank overdrafts

(556,540

)

-

4,016,598

4,110,506

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

4,110,506

3,055,665