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REGISTERED NUMBER: 00838371 (England and Wales)















Seed Developments Limited

Financial Statements for the Year Ended 31 March 2023






Seed Developments Limited (Registered number: 00838371)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Seed Developments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A N M Gould
D C Chance
D G Arnold
I C West





REGISTERED OFFICE: Unit A Huntworth Way
North Petherton
Bridgwater
Somerset
TA6 6FA





REGISTERED NUMBER: 00838371 (England and Wales)





AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF

Seed Developments Limited (Registered number: 00838371)

Abridged Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 362,169 378,364
Investments 6 1 1
362,170 378,365

CURRENT ASSETS
Stocks 210,690 290,403
Debtors 2,180,247 2,386,592
Cash at bank 63,043 158,230
2,453,980 2,835,225
CREDITORS
Amounts falling due within one year 299,588 554,924
NET CURRENT ASSETS 2,154,392 2,280,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,516,562

2,658,666

CREDITORS
Amounts falling due after more than one
year

-

(24,688

)

PROVISIONS FOR LIABILITIES (87,500 ) (88,752 )
NET ASSETS 2,429,062 2,545,226

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 2,423,062 2,539,226
SHAREHOLDERS' FUNDS 2,429,062 2,545,226

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:



A N M Gould - Director


Seed Developments Limited (Registered number: 00838371)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Seed Developments 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have ben prepared in accordance with applicable accounting standards and estimation techniques, and on a going concern basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over life of lease
Plant and machinery etc - 33% on cost and 10% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Seed Developments Limited (Registered number: 00838371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 45 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 812,277
Additions 32,832
Disposals (39,469 )
At 31 March 2023 805,640
DEPRECIATION
At 1 April 2022 433,913
Charge for year 39,916
Eliminated on disposal (30,358 )
At 31 March 2023 443,471
NET BOOK VALUE
At 31 March 2023 362,169
At 31 March 2022 378,364

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

Seed Developments Limited (Registered number: 00838371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year - 3,909
Between one and five years 330,525 -
330,525 3,909

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 26,509 52,775

Bank loans are secured over the assets of the company.

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

The Report of the Auditors was unqualified.

Nigel Blannin (Senior Statutory Auditor)
for and on behalf of Maxwells

10. ULTIMATE CONTROLLING PARTY

The controlling party is Seed Invesco Limited.

The ultimate controlling party is A N M Gould.