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REGISTERED NUMBER: 02095534 (England and Wales)















MILCOTE HALL QUALITY SEEDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






MILCOTE HALL QUALITY SEEDS LIMITED (REGISTERED NUMBER: 02095534)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILCOTE HALL QUALITY SEEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: J S Stanley
D J Stanley
J S R Stanley
Mrs E J Stanley





SECRETARY: Mrs E J Stanley





REGISTERED OFFICE: Milcote Hall Farm
Stratford Upon Avon
Warwickshire
CV37 8JG





REGISTERED NUMBER: 02095534 (England and Wales)





ACCOUNTANTS: Murphy Salisbury Limited
Chartered Accountants
15 Warwick Road
Stratford-upon-Avon
Warwickshire
CV37 6YW

MILCOTE HALL QUALITY SEEDS LIMITED (REGISTERED NUMBER: 02095534)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,278,463 1,081,607

CURRENT ASSETS
Stocks 293,349 328,040
Debtors 5 399,172 383,170
Investments 6 64 64
Cash at bank 1,734,866 1,199,515
2,427,451 1,910,789
CREDITORS
Amounts falling due within one year 7 596,495 326,240
NET CURRENT ASSETS 1,830,956 1,584,549
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,109,419

2,666,156

PROVISIONS FOR LIABILITIES 99,872 66,787
NET ASSETS 3,009,547 2,599,369

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,009,447 2,599,269
SHAREHOLDERS' FUNDS 3,009,547 2,599,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

MILCOTE HALL QUALITY SEEDS LIMITED (REGISTERED NUMBER: 02095534)

BALANCE SHEET - continued
30 JUNE 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:





J S Stanley - Director


MILCOTE HALL QUALITY SEEDS LIMITED (REGISTERED NUMBER: 02095534)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Milcote Hall Quality 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 equipment - 15% on reducing balance
Computer equipment - 25% straight line basis
Motor vehicles - 25% 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

MILCOTE HALL QUALITY SEEDS LIMITED (REGISTERED NUMBER: 02095534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and Plant and Computer Motor
buildings equipment equipment vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 813,300 806,839 33,703 24,850 1,678,692
Additions 64,583 193,966 675 - 259,224
Disposals - (25,000 ) - - (25,000 )
At 30 June 2023 877,883 975,805 34,378 24,850 1,912,916
DEPRECIATION
At 1 July 2022 - 555,777 32,098 9,210 597,085
Charge for year - 40,210 1,089 3,910 45,209
Eliminated on disposal - (7,841 ) - - (7,841 )
At 30 June 2023 - 588,146 33,187 13,120 634,453
NET BOOK VALUE
At 30 June 2023 877,883 387,659 1,191 11,730 1,278,463
At 30 June 2022 813,300 251,062 1,605 15,640 1,081,607

Freehold land and buildings are included at cost and are not depreciated due to their estimated remaining useful economic life exceeding 50 years.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 365,892 370,670
Other debtors 33,280 12,500
399,172 383,170

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 64 64

MILCOTE HALL QUALITY SEEDS LIMITED (REGISTERED NUMBER: 02095534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 428,030 242,793
Taxation and social security 100,667 54,180
Other creditors 67,798 29,267
596,495 326,240

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
J S Stanley and Mrs E J Stanley
Balance outstanding at start of year (707 ) (707 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (707 )

J S R Stanley
Balance outstanding at start of year (24,470 ) 60,071
Amounts advanced - 93,459
Amounts repaid - (178,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (24,470 )