REGISTERED NUMBER: 13436518 (England and Wales)

Rix Grain Drying Limited

Financial Statements for the Year Ended 31st December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R M A Clarke

REGISTERED OFFICE:

2 Humber Quays

Wellington Street West

Hull

East Yorkshire

HU1 2BN

REGISTERED NUMBER:

13436518 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

CURRENT ASSETS

Debtors

4

713,974

819,413

Cash at bank

251,971

1,994,969

965,945

2,814,382

CREDITORS

Amounts falling due within one year

5

1,665,279

2,840,126

NET CURRENT LIABILITIES

(699,334

)

(25,744

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(699,334

)

(25,744

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

(699,335

)

(25,745

)

SHAREHOLDERS' FUNDS

(699,334

)

(25,744

)

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 by the director and authorised for issue on 5th August 2026 and were signed by:

R M A Clarke - Director

1.	STATUTORY INFORMATION

Rix Grain Drying 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Going concern

The director has considered it appropriate that the company's financial statements are prepared on a going concern basis. The company is part of a wider group, but the parent undertaking has confirmed that it is not willing to provide financial support to the company, either currently or in the foreseeable future. As a result, the company must secure alternative sources of funding in order to meet its obligations as they fall due.

The director is actively exploring funding options and implementing measures to manage cash flow; however, no binding arrangements were in place at the date the financial statements were approved. These circumstances represent a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern.

Nevertheless, the financial statements have been prepared on a going concern basis, as the directors believe that there are reasonable prospects of securing sufficient funding and that the company will be able to continue trading for the foreseeable future.

Critical accounting judgements 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 if the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities as follows.

Accruals estimation

The financial statements include an accrual relating to an obligation arising from energy consumed out of contract. The final amount payable is subject to negotiation with the third party, and therefore involves significant judgement, with the directors using available market rates and the expertise of energy consultants to provide an estimate for the final unit price that will be agreed with the energy provider, however this estimate has a broad range of possible settlement values.

Based on this assessment, an accrual has been recognised representing management's best estimate of the expenditure required to settle the obligation as at the reporting date.

Due to the inherent uncertainty involved, the eventual settlement may differ from the amount provided. Management considers the judgement involved in determining this accrual to be critical because the outcome could materially influence the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

469,142

786,356

Tax

224,000

10,000

Prepayments

20,832

23,057

713,974

819,413

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,158

29,731

Amounts owed to group undertakings

539,158

747,645

Accruals and deferred income

165,176

772,926

Accrued expenses

957,787

1,289,824

1,665,279

2,840,126

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

1

1

1

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

8.	CONTINGENT LIABILITIES

The company is party to an unlimited debenture, omnibus guarantee and set-off agreement in favour of Lloyds Banking Group in respect of group borrowings. The potential liability under this agreement amounted to £52,497,022 (2024: 45,895,166).

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

The parent company of the group of undertakings for which group financial statements are drawn up and of which the company is a member is J. R. Rix & Sons Limited, registered in England and Wales.

J. R. Rix & Sons Limited is also the company's ultimate parent undertaking and its registered office is 2 Humber Quays, Wellington Street West, Hull, HU1 2BN. The only group in which the results of the company are consolidated is J. R. Rix & Sons Limited, and these can be obtained from Companies House.

J. R. Rix & Sons Limited has no ultimate controlling party.