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REGISTERED NUMBER: 04236948 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

HIGHFIELDS SEEDS LIMITED

HIGHFIELDS SEEDS LIMITED (REGISTERED NUMBER: 04236948)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHFIELDS SEEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: John Edward Cartwright
John William Ashmore





SECRETARY: John Edward Cartwright





REGISTERED OFFICE: Peckleton Lane
Desford
Leicester
LE9 9JU





REGISTERED NUMBER: 04236948 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants
25 Station Road
Hinckley
Leicestershire
LE10 1AP

HIGHFIELDS SEEDS LIMITED (REGISTERED NUMBER: 04236948)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,271 117,481

CURRENT ASSETS
Stocks 64,067 89,515
Debtors 5 520,113 884,152
Cash at bank and in hand 884,999 632,748
1,469,179 1,606,415
CREDITORS
Amounts falling due within one year 6 287,403 542,547
NET CURRENT ASSETS 1,181,776 1,063,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,285,047

1,181,349

PROVISIONS FOR LIABILITIES 28,551 28,551
NET ASSETS 1,256,496 1,152,798

CAPITAL AND RESERVES
Called up share capital 30,300 30,300
Retained earnings 1,226,196 1,122,498
SHAREHOLDERS' FUNDS 1,256,496 1,152,798

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

HIGHFIELDS SEEDS LIMITED (REGISTERED NUMBER: 04236948)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:




John Edward Cartwright - Director



John William Ashmore - Director


HIGHFIELDS SEEDS LIMITED (REGISTERED NUMBER: 04236948)

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

1. STATUTORY INFORMATION

Highfields 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.

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.
Plant and machinery - 10% on reducing balance
Office equipment and fixtures - 25% on cost and 10% on reducing balance
Motor vehicles - 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 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.

HIGHFIELDS SEEDS LIMITED (REGISTERED NUMBER: 04236948)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
Plant and and Motor
machinery fixtures vehicles Totals
£    £    £    £   
COST
At 1 June 2022 256,908 5,346 36,995 299,249
Disposals (7,048 ) (1,062 ) - (8,110 )
At 31 May 2023 249,860 4,284 36,995 291,139
DEPRECIATION
At 1 June 2022 150,178 3,877 27,713 181,768
Charge for year 12,053 300 1,857 14,210
Eliminated on disposal (7,048 ) (1,062 ) - (8,110 )
At 31 May 2023 155,183 3,115 29,570 187,868
NET BOOK VALUE
At 31 May 2023 94,677 1,169 7,425 103,271
At 31 May 2022 106,730 1,469 9,282 117,481

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 462,099 308,782
Others debtors 6,998 11,905
Directors' loan accounts 100 560,300
Tax 50,916 3,165
520,113 884,152

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 202,868 491,288
Corporation tax 9,004 -
Social security and other taxes 1,290 1,260
Other creditors 73,736 49,999
Directors' loan accounts 505 -
287,403 542,547

7. ULTIMATE CONTROLLING PARTY

The controlling party is John Edward Cartwright.

John E. Cartwright is a director and majority shareholder.