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REGISTERED NUMBER: 03352454 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

HURRELL & MCLEAN SEEDS LIMITED

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HURRELL & MCLEAN SEEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: E P A Gladstone
N A Gladstone
P R Elstob
J J Elstob





SECRETARY: J J Elstob





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 03352454 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,625 28,125
Tangible assets 5 303,943 68,831
Investments 6 418,396 417,106
737,964 514,062

CURRENT ASSETS
Stocks 161,935 149,872
Debtors 7 384,389 539,314
Cash at bank 1,587,650 1,338,261
2,133,974 2,027,447
CREDITORS
Amounts falling due within one year 8 331,251 464,374
NET CURRENT ASSETS 1,802,723 1,563,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,540,687

2,077,135

PROVISIONS FOR LIABILITIES 47,973 29,744
NET ASSETS 2,492,714 2,047,391

CAPITAL AND RESERVES
Called up share capital 9 56 56
Share premium 964,221 964,221
Revaluation reserve 10 38,923 38,923
Retained earnings 1,489,514 1,044,191
SHAREHOLDERS' FUNDS 2,492,714 2,047,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

BALANCE SHEET - continued
31 JANUARY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





N A Gladstone - Director


HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Hurrell & McLean Seeds 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 as modified by the revaluation of certain assets.

Turnover
Turnover relates to seed merchant income excluding discounts, rebates, value added tax and other taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 250,000
AMORTISATION
At 1 February 2022 221,875
Charge for year 12,500
At 31 January 2023 234,375
NET BOOK VALUE
At 31 January 2023 15,625
At 31 January 2022 28,125

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 310,888
Additions 277,463
At 31 January 2023 588,351
DEPRECIATION
At 1 February 2022 242,057
Charge for year 42,351
At 31 January 2023 284,408
NET BOOK VALUE
At 31 January 2023 303,943
At 31 January 2022 68,831

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2022 417,106
Additions 1,290
At 31 January 2023 418,396
NET BOOK VALUE
At 31 January 2023 418,396
At 31 January 2022 417,106

Cost or valuation at 31 January 2023 is represented by:

Other
investments
£   
Valuation in 2021 (9,154 )
Valuation in 2022 61,052
Valuation in 2023 1,290
Cost 365,208
418,396

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 365,208 365,208

Fixed asset investments were valued on an open market basis on 31 January 2023 by Hargreaves Lansdown .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 206,077 273,671
Other debtors 178,312 265,643
384,389 539,314

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 183,684 324,226
Taxation and social security 140,560 130,078
Other creditors 7,007 10,070
331,251 464,374

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
32 Ordinary A £1 32 32
4 Ordinary B £1 4 4
3 Ordinary C £1 3 3
3 Ordinary D £1 3 3
4 Ordinary E £1 4 4
4 Ordinary F £1 4 4
3 Ordinary G £1 3 3
3 Ordinary H £1 3 3
56 56

10. RESERVES
Revaluation
reserve
£   
At 1 February 2022
and 31 January 2023 38,923

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
E P A Gladstone
Balance outstanding at start of year - -
Amounts advanced 77 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 77 -

N A Gladstone
Balance outstanding at start of year - -
Amounts advanced 91,950 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 91,950 -

P R Elstob and J J Elstob
Balance outstanding at start of year - -
Amounts advanced 67,502 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,502 -