1 February 2021 v2022.13.1 limited_company_frs_102_section_1a_v1_0_8 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBPSC5624302021-02-012022-01-31SC5624302022-01-31SC5624302021-01-31SC562430core:WithinOneYear2022-01-31SC562430core:WithinOneYear2021-01-31SC562430core:AfterOneYear2022-01-31SC562430core:AfterOneYear2021-01-31SC562430core:ShareCapital2022-01-31SC562430core:ShareCapital2021-01-31SC562430core:RetainedEarningsAccumulatedLosses2022-01-31SC562430core:RetainedEarningsAccumulatedLosses2021-01-31SC562430bus:Director12021-02-012022-01-31SC562430bus:RegisteredOffice2021-02-012022-01-31SC562430core:FurnitureFittings2021-02-012022-01-31SC562430core:OfficeEquipment2021-02-012022-01-31SC562430core:MotorVehicles2021-02-012022-01-31SC5624302020-02-012021-01-31SC562430core:PlantMachinery2021-02-01SC562430core:PlantMachinery2021-02-012022-01-31SC562430core:PlantMachinery2022-01-31SC562430core:PlantMachinery2021-01-31SC56243012021-02-012022-01-31SC562430countries:Scotland2021-02-012022-01-31SC562430bus:AuditExemptWithAccountantsReport2021-02-012022-01-31SC562430bus:PrivateLimitedCompanyLtd2021-02-012022-01-31SC562430bus:SmallEntities2021-02-012022-01-31SC562430bus:FullAccounts2021-02-012022-01-31
Company registration number:
SC562430
Seeds For The Soul Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2022
Seeds For The Soul Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Seeds For The Soul Limited
Year ended
31 January 2022
As described on the statement of financial position, the Board of Directors of
Seeds For The Soul Limited
are responsible for the preparation of the
financial statements
for the year ended
31 January 2022
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Horizon Chartered Accountants
11 Somerset Place
Glasgow
G3 7JT
United Kingdom
Date:
5 September 2022
Seeds For The Soul Limited
Statement of Financial Position
31 January 2022
20222021
Note££
Fixed assets    
Tangible assets 5
62,970
 
9,748
 
Current assets    
Stocks
15,002
 
31,594
 
Debtors 6
34,979
 
29,710
 
Cash at bank and in hand
67,571
 
72,533
 
117,552
 
133,837
 
Creditors: amounts falling due within one year 7
(46,493
)
(51,992
)
Net current assets
71,059
 
81,845
 
Total assets less current liabilities 134,029   91,593  
Creditors: amounts falling due after more than one year 8
(41,666
)
(47,500
)
Net assets
92,363
 
44,093
 
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
92,353
 
44,083
 
Shareholders funds
92,363
 
44,093
 
For the year ending
31 January 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
5 September 2022
, and are signed on behalf of the board by:
T Norman
Director
Company registration number:
SC562430
Seeds For The Soul Limited
Notes to the Financial Statements
Year ended
31 January 2022

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
11 Somerset Place
,
Glasgow
,
G3 7JT
, Scotland.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
25% reducing balance
Office equipment
25% reducing balance
Motor vehicles
25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

4 Average number of employees

The average number of persons employed by the company during the year was
16
(2021:
12.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2021
16,019
 
Additions
60,963
 
At
31 January 2022
76,982
 
Depreciation  
At
1 February 2021
6,271
 
Charge
7,741
 
At
31 January 2022
14,012
 
Carrying amount  
At
31 January 2022
62,970
 
At 31 January 2021
9,748
 

6 Debtors

20222021
££
Trade debtors
6,769
 
1,500
 
Other debtors
28,210
 
28,210
 
34,979
 
29,710
 

7 Creditors: amounts falling due within one year

20222021
££
Bank loans and overdrafts
5,556
 
2,500
 
Trade creditors
6,004
 
369
 
Taxation and social security
20,331
 
27,727
 
Other creditors
14,602
 
21,396
 
46,493
 
51,992
 

8 Creditors: amounts falling due after more than one year

20222021
££
Bank loans and overdrafts
41,666
 
47,500