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Registered number: 09112725 REALIPM (UK) LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
REALIPM (UK) LTD REGISTERED NUMBER:09112725
BALANCE SHEET AS AT 31 DECEMBER 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  |  |  |
Fixed assets |  |  |  |  |
Intangible assets | 5 |  | 441,814 |  | 325,718
|  |  | 441,814 |  | 325,718
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,716 |  | 2,049 |
Cash at bank and in hand | 7 | 27,108 |  | 13 |
|  | 28,824 |  | 2,062 |
Creditors: amounts falling due within one year | 8 | (738,849) |  | (552,500) |
Net current liabilities |  |  | (710,025) |  | (550,438)
Total assets less current liabilities |  |  | (268,211) |  | (224,720)
Net liabilities |  |  | £(268,211) |  | £(224,720)
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 6,667 |  | 6,667
Share premium account | 10 |  | 1,067,838 |  | 1,067,838
Profit and loss account | 10 |  | (1,342,716) |  | (1,299,225)
|  |  | £(268,211) |  | £(224,720)
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 August 2026.
JM Vandoorne-Feys
Director
The notes on pages 2 to 9 form part of these financial statements. Page 1
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
RealIPM (UK) Ltd is a private company, limited by shares, incorporated in England and Wales. The Company number is 09460512 and the registered office of the company and the principal place of business is Unit 1 Wyvern Way, Henwood Industrial Estate, Ashford, Kent, TN24 8DW. The company's principal activity is the research and development of new crop protection solutions. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis. RealIPM (UK) Limited is a subsidiary of RealIPM Company (Kenya) Limited which in turn is a subsidiary of Biobest Group NV, a company incorporated in Belgium. RealIPM (UK) Limited is dependent on the continuing financial support of its parent undertaking, Biobest Group NV, to operate as a going concern. The parent undertaking has confirmed in writing that it will allow RealIPM (UK) Limited to subordinate payments of the inter-group balance to enable RealIPM (UK) Limited to be able to settle its third party liabilities in full as they fall due for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors consider that it is appropriate to prepare the financial statements on the going concern basis. Page 2
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP and presented in whole pounds. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 3
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 4
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The critical judgements made by management and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. Valuation of intangible fixed assets Intangible fixed assets are stated at historical cost less accumulated amortisation and any accumulated impairment losses. In determining the useful economic life, residual value and amortisation method, management use their historical knowledge of such assets and the market within which the Company operates. Valuation of deferred taxation The provision for deferred taxation represents the timing differences that have originated but not reversed by the balance sheet date. In determining the provision, management's best estimates of the timing differences being reversed at the substantially enacted tax rate at the balance sheet date.
4. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
Page 5
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Intangible assets
|  | Develop-ment expenditure | Computer software | Total
| Cost |  |  |
| At 1 January 2025 | 325,718 | - | 325,718
| Additions | 103,584 | 14,164 | 117,748
| At 31 December 2025 | 429,302 | 14,164 | 443,466
| Amortisation |  |  |
| Charge for the year on owned assets | - | 1,652 | 1,652
| At 31 December 2025 | - | 1,652 | 1,652
| Net book value |  |  |
| At 31 December 2025 | £429,302 | £12,512 | £441,814
| At 31 December 2024 | £325,718 | £- | £325,718
| The individual intangible assets which are material to the financial statements are as follows:
|  | Net book value
|  | 2025 | 2024
| Development expenditure |  |
| Registration of active ingredient Metarhizium Ansipoliae | 429,302 | 325,718
| The intangible asset is still in development and the amortisation period has not yet commenced. Once registered, the asset will be amortised over the period of the registration.
Page 6
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
| Other debtors | 1,716 | 549
| Prepayments and accrued income | - | 1,500
|  | £1,716 | £2,049
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
| Cash at bank and in hand | 27,108 | 13
|  | £27,108 | £13
8. | Creditors: Amounts falling due within one year
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
| Trade creditors | - | 2,500
| Amounts owed to group undertakings | 723,249 | 534,001
| Accruals and deferred income | 15,600 | 15,999
|  | £738,849 | £552,500
9. | Share capital
|  |  |  |  | 2025 | 2024
|  | Allotted, called up and fully paid |  |
|  | 666,670 (2024 - 666,670) Ordinary shares of £0.01 each | £6,667 | £6,667
10. | Reserves
Profit and loss account Enter user text here - user input Page 7
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Prior year adjustment
Reconciliation of changes in equity
|  | 31 December 2024
|  | £
| Adjustments to prior year |
| Reduction in interest payable accrual | 195,597
| Adjustment to accruals in respect of fees | (11,833)
| Total adjustments | 183,764
| Equity as previously reported | (408,484)
| Equity as adjusted | (224,720)
| Reconciliation of changes in profit/(loss) for the previous financial period |
|  | 2024
|  | £
| Adjustments to prior year |
| Reduction in interest payable accrual | 195,597
| Adjustment to accruals in respect of fees | (6,500)
| Total adjustments | 189,097
| Loss as previously reported | (32,750)
| Profit as adjusted | 156,347
Brought forward reserves at 1 January 2024 were also restated to reflect the cumulative accruals differences arising in respect of fees. The profit and loss reserves have been reduced by £5,333 at 1 January 2024. Notes to reconciliation On acquisition of the company into the group during the period ended 31 December 2023, the loan from a former director and shareholder was repaid with interest. The interest had been accrued within the financial statements up to 31 December 2022 at an agreed rate of interest. As part of the acquisition agreement, in January 2024, this interest rate was reduced which resulted in a reduction of interest of £195,597. This reduction has now been credited in the correct period. In addition, accruals that were previously not amended in respect of fees have now been restated.
12. | Ultimate parent undertaking and controlling party
At the balance sheet date, the immediate parent undertaking is Real IPM Company (Kenya) Ltd, a company incorporated in Kenya. Real IPM Company (Kenya) Ltd is the controlling party of the company. The parent undertaking of the smallest group to consolidate their financial statements is Biobest Group NV, a company incorporated in Belgium. The registered office of the company is Isle Velden 18, B-2260, Westerlo, Belgium. The parent undertaking of the largest group to consolidate these financial statements is Floridienne SA, a company incorporated in Belgium. The registered address of the company is Drève Richelle 161, bte 4, Bât P, Waterloo Park Office, B-1410, Waterloo, Belgium. The ultimate parent undertaking is Floridienne SA, a company incorporated in Belgium. Floridienne SA is also the most senior parent entity producing publicly available financial statements. Page 8
REALIPM (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 12.Ultimate parent undertaking and controlling party (continued) Floridienne SA is the ultimate controlling party of the company. The company is quoted on the Belgium Stock Exchange. Floridienne SA has prepared consolidated financial statements which include this company and are publicly available.
13. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 13 August 2026 by Claire Parry FCA (Senior Statutory Auditor) on behalf of Magee Gammon Corporate Limited.
Page 9