Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01truefalseNo description of principal activity1212true 05484366 2022-07-01 2023-06-30 05484366 2021-07-01 2022-06-30 05484366 2023-06-30 05484366 2022-06-30 05484366 c:Director3 2022-07-01 2023-06-30 05484366 d:Buildings 2022-07-01 2023-06-30 05484366 d:Buildings 2023-06-30 05484366 d:Buildings 2022-06-30 05484366 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05484366 d:PlantMachinery 2022-07-01 2023-06-30 05484366 d:PlantMachinery 2023-06-30 05484366 d:PlantMachinery 2022-06-30 05484366 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05484366 d:MotorVehicles 2022-07-01 2023-06-30 05484366 d:FurnitureFittings 2022-07-01 2023-06-30 05484366 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05484366 d:CurrentFinancialInstruments 2023-06-30 05484366 d:CurrentFinancialInstruments 2022-06-30 05484366 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05484366 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05484366 d:ShareCapital 2023-06-30 05484366 d:ShareCapital 2022-06-30 05484366 d:RetainedEarningsAccumulatedLosses 2023-06-30 05484366 d:RetainedEarningsAccumulatedLosses 2022-06-30 05484366 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05484366 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 05484366 c:OrdinaryShareClass1 2022-07-01 2023-06-30 05484366 c:OrdinaryShareClass1 2023-06-30 05484366 c:OrdinaryShareClass1 2022-06-30 05484366 c:FRS102 2022-07-01 2023-06-30 05484366 c:Audited 2022-07-01 2023-06-30 05484366 c:FullAccounts 2022-07-01 2023-06-30 05484366 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05484366 d:EntityControlledByKeyManagementPersonnel1 2022-07-01 2023-06-30 05484366 d:UltimateParent 2022-07-01 2023-06-30 05484366 c:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05484366 2 2022-07-01 2023-06-30 05484366 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05484366









LS PLANT BREEDING LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
LS PLANT BREEDING LIMITED
REGISTERED NUMBER: 05484366

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
274,915
279,509

Current assets
  

Stocks
 5 
1,051,802
569,712

Debtors: amounts falling due within one year
 6 
939,760
906,847

Cash at bank and in hand
 7 
702,701
1,244,315

  
2,694,263
2,720,874

Creditors: amounts falling due within one year
 8 
(1,146,274)
(1,130,830)

Net current assets
  
 
 
1,547,989
 
 
1,590,044

Total assets less current liabilities
  
1,822,904
1,869,553

Provisions for liabilities
  

Deferred tax
 9 
(57,796)
(55,844)

Net assets
  
1,765,108
1,813,709


Capital and reserves
  

Called up share capital 
 10 
10,000
10,000

Profit and loss account
  
1,755,108
1,803,709

  
1,765,108
1,813,709


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 March 2024.




C M Guest
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
LS PLANT BREEDING LIMITED
 

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

1.


General information

LS Plant Breeding Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The registered office is North Barn, Milton Road, Impington, Cambridge, CB24 9NG.
The nature of the Company's operations and principal activity continued to be that of plant breeding.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Royalty income relating to the sale by a licensee of a licensed product is recognised on an accruals basis in accordance with the substance of the relevant agreement and based on the receipt from the licensee of the relevant information to enable calculation of the royalty due.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
LS PLANT BREEDING LIMITED
 

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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
Straight line over the 15 year rent free term of the lease
Plant and machinery
-
20% per annum straight line
Motor vehicles
-
20% per annum straight line
Fixtures and fittings
-
20-25% per annum straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 3

 
LS PLANT BREEDING LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
LS PLANT BREEDING LIMITED
 

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

2.Accounting policies (continued)

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
LS PLANT BREEDING LIMITED
 

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

2.Accounting policies (continued)

 
2.16

Corporation and deferred taxation

The tax expense for the year comprises corporation and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.17

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. 
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 12).

Page 6

 
LS PLANT BREEDING LIMITED
 

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

4.


Tangible fixed assets





Leasehold property
Plant and machinery
Total

£
£
£



Cost 


At 1 July 2022
496,696
1,159,882
1,656,578


Additions
-
101,081
101,081



At 30 June 2023

496,696
1,260,963
1,757,659



Depreciation


At 1 July 2022
496,696
880,373
1,377,069


Charge for the year on owned assets
-
105,675
105,675



At 30 June 2023

496,696
986,048
1,482,744



Net book value



At 30 June 2023
-
274,915
274,915



At 30 June 2022
-
279,509
279,509


5.


Stocks

2023
2022
£
£

Raw materials
1,051,802
569,712



6.


Debtors

2023
2022
£
£


Trade debtors
515,704
506,628

Amounts owed by group undertakings
190,109
231,166

Other debtors
97,859
87,875

Prepayments and accrued income
136,088
81,178

939,760
906,847


Page 7

 
LS PLANT BREEDING LIMITED
 

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

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
702,701
1,244,315



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
219,751
234,990

Amounts owed to group undertakings
570,408
497,963

Other taxation and social security
232,734
277,675

Other creditors
123,381
120,202

1,146,274
1,130,830



9.


Deferred taxation




2023


£






At beginning of year
(55,844)


Charged to profit or loss
(1,952)



At end of year
(57,796)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(57,796)
(55,844)

(57,796)
(55,844)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000


Page 8

 
LS PLANT BREEDING LIMITED
 

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

11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £71,346 (2022 - £57,244). No contributions (2022 - £Nil) were payable to the fund at the balance sheet date. 


12.


Related party transactions

During the year the company made purchases from Saaten Union GmbH, an associate company to ultimate parent company, NPZ Lembke KG totalling £882,792 (2022 - £1,040,930).
The amount due to Saaten Union GmbH at the year end was £224,783 (2022 - £216,974).
During the year the company made sales to NPZ Lembke KG, a group company, totalling £516,716 (2022 - £488,396).
The company made purchases from NPZ Lembke KG, a group company, totalling £915,562 (2022 - £565,576)
The amount due from NPZ Lembke KG at the year end was £168,604 (2022 - £198,963).
The amount due to NPZ Lembke KG at the year end was £345,623 (2022 - £280,989)
During the year the company made sales to W.von Borries-Eckendorf GmbH & Co. KG, a fellow subsidiary, totalling £138,922 (2022 - £128,750).
The amount due from W.von Borries-Eckendorf GmbH & Co. KG at the year end was £21,505 (2022 - £32,203).
During the year the company paid dividends of £750,000 (2022 - £1,000,000) to the parent company, NPZ Lembke Semences S.A.R.L.


13.


Controlling party

The company is controlled by NPZ Lembke Semences S.A.R.L, a company incorporated in France. 
The ultimate controlling party is D Brauer.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 8 March 2024 by Shaun Jordan ACA (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 9