PLANT GENETICS INTERNATIONAL LIMITED
PLANT GENETICS INTERNATIONAL LIMITED
Company No:
PLANT GENETICS INTERNATIONAL LIMITED
Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar
For the financial year ended 31 December 2023
Pages for filing with the registrar
Unaudited Financial Statements
Contents
COMPANY INFORMATION
COMPANY INFORMATION (continued)
DIRECTORS | Mrs C Bourne (Resigned 10 October 2023) |
Mr E Bourne (Resigned 10 October 2023) | |
Mr D Langmead (Resigned 15 December 2023) | |
Mr E Marley | |
Mrs F Marley |
REGISTERED OFFICE | Centenary House Peninsula Park |
Rydon Lane | |
Exeter | |
EX2 7XE | |
United Kingdom |
BUSINESS ADDRESS | Ashcombe Road |
Dawlish | |
Devon | |
EX7 0QP |
COMPANY NUMBER | 09506669 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
BALANCE SHEET
BALANCE SHEET (continued)
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Investments | 4 |
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160,193 | 577,403 | |||
Current assets | ||||
Debtors | ||||
- due within one year | 5 |
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- due after more than one year | 5 |
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Cash at bank and in hand |
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337,141 | 805,482 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 233,464 | 473,817 | ||
Total assets less current liabilities | 393,657 | 1,051,220 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Share premium account |
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Other reserves |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
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The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476; -
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.
The financial statements of Plant Genetics International Limited (registered number:
Mr E Marley
Director |
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting policies
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
General information and basis of accounting
Plant Genetics International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Ashcombe Road, Dawlish, Devon, EX7 0QP.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover
Taxation
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Intangible assets
Other intangible assets |
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Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in subsidiary undertakings are recognised at cost.
Other Reserves
The company has a long term loan which is classified as a financing arrangement. The difference between the initial consideration and the present value of future payments, discounted at a market rate of interest, has been credited to 'other reserves'. Amounts equivalent to the notional interest charge are transferred between reserves until the loans are repaid. The loan was paid off in the year.
2. Employees
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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3. Intangible assets
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated amortisation | |||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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4. Fixed asset investments
Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 January 2023 |
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Disposals | (
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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5. Debtors
2023 | 2022 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Amounts owed by Group undertakings |
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6. Creditors: amounts falling due within one year
2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Accruals |
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Taxation and social security |
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7. Called-up share capital
2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Nil
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400 | 400 |
8. Related party transactions
Other related party transactions
2023 | 2022 | ||
£ | £ | ||
Amount owed by Valin Genetics Limited | 0 | 40,000 |
Interest was charged on the loan at 10% which is considered a market rate of interest.