IRIS Accounts Production v24.3.0.553 00983390 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009833902023-06-30009833902024-06-30009833902023-07-012024-06-30009833902022-06-30009833902022-07-012023-06-30009833902023-06-3000983390ns15:EnglandWales2023-07-012024-06-3000983390ns14:PoundSterling2023-07-012024-06-3000983390ns10:Director12023-07-012024-06-3000983390ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3000983390ns10:SmallEntities2023-07-012024-06-3000983390ns10:AuditExemptWithAccountantsReport2023-07-012024-06-3000983390ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3000983390ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000983390ns10:FullAccounts2023-07-012024-06-3000983390ns10:OrdinaryShareClass12023-07-012024-06-3000983390ns10:Director22023-07-012024-06-3000983390ns10:RegisteredOffice2023-07-012024-06-3000983390ns5:CurrentFinancialInstruments2024-06-3000983390ns5:CurrentFinancialInstruments2023-06-3000983390ns5:Non-currentFinancialInstruments2024-06-3000983390ns5:Non-currentFinancialInstruments2023-06-3000983390ns5:ShareCapital2024-06-3000983390ns5:ShareCapital2023-06-3000983390ns5:RetainedEarningsAccumulatedLosses2024-06-3000983390ns5:RetainedEarningsAccumulatedLosses2023-06-3000983390ns5:LandBuildings2023-07-012024-06-3000983390ns5:PlantMachinery2023-07-012024-06-3000983390ns5:LandBuildings2023-06-3000983390ns5:PlantMachinery2023-06-3000983390ns5:LandBuildings2024-06-3000983390ns5:PlantMachinery2024-06-3000983390ns5:LandBuildings2023-06-3000983390ns5:PlantMachinery2023-06-3000983390ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3000983390ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3000983390ns5:Secured2024-06-3000983390ns5:Secured2023-06-3000983390ns10:OrdinaryShareClass12024-06-30009833901ns10:Director12023-06-30009833901ns10:Director12022-06-30009833901ns10:Director12023-07-012024-06-30009833901ns10:Director12022-07-012023-06-30009833901ns10:Director12024-06-30009833901ns10:Director12023-06-30
REGISTERED NUMBER: 00983390 (England and Wales)















EDWIN E. HARE & CO. (SEEDS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






EDWIN E. HARE & CO. (SEEDS) LIMITED (REGISTERED NUMBER: 00983390)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6

Accountants' Report 7

EDWIN E. HARE & CO. (SEEDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A D Hare
Mrs N J Hyde





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: 76 Station Road
Ruskington
Sleaford
Lincolnshire
NG34 9BZ





REGISTERED NUMBER: 00983390 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

EDWIN E. HARE & CO. (SEEDS) LIMITED (REGISTERED NUMBER: 00983390)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 995,719 971,666
Investment property 5 600,000 600,000
1,595,719 1,571,666

CURRENT ASSETS
Stocks 248,187 226,158
Debtors 6 307,152 358,706
Cash at bank 145,113 274,056
700,452 858,920
CREDITORS
Amounts falling due within one year 7 209,672 555,807
NET CURRENT ASSETS 490,780 303,113
TOTAL ASSETS LESS CURRENT LIABILITIES 2,086,499 1,874,779

CREDITORS
Amounts falling due after more than one year 8 (186,229 ) (20,688 )

PROVISIONS FOR LIABILITIES (4,280 ) (3,289 )
NET ASSETS 1,895,990 1,850,802

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 1,895,890 1,850,702
SHAREHOLDERS' FUNDS 1,895,990 1,850,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

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 22 October 2024 and were signed on its behalf by:



A D Hare - Director


EDWIN E. HARE & CO. (SEEDS) LIMITED (REGISTERED NUMBER: 00983390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Edwin E. Hare & Co. (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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other 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 - 5% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

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.

EDWIN E. HARE & CO. (SEEDS) LIMITED (REGISTERED NUMBER: 00983390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 1,222,975 152,930 1,375,905
Additions - 47,242 47,242
At 30 June 2024 1,222,975 200,172 1,423,147
DEPRECIATION
At 1 July 2023 264,350 139,889 404,239
Charge for year 8,796 14,393 23,189
At 30 June 2024 273,146 154,282 427,428
NET BOOK VALUE
At 30 June 2024 949,829 45,890 995,719
At 30 June 2023 958,625 13,041 971,666

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 600,000
NET BOOK VALUE
At 30 June 2024 600,000
At 30 June 2023 600,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2010 42,054
Valuation in 2012 5,000
Valuation in 2015 30,000
Valuation in 2018 40,000
Valuation in 2019 40,000
Cost 442,946
600,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 442,946 442,946

Investment property was valued on an open market basis on 30 June 2019 by the directors .

The value of the investment property has not moved materially between the valuation date and the financial reporting date.

EDWIN E. HARE & CO. (SEEDS) LIMITED (REGISTERED NUMBER: 00983390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,746 4,049
Loan to Banovallum Properties Ltd 279,320 300,923
Other debtors 18,086 53,734
307,152 358,706

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,607 227,364
Trade creditors 2,250 -
Taxation and social security 18,434 66,566
Other creditors 164,381 261,877
209,672 555,807

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 186,229 20,688

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years 103,003 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 210,836 248,052

The bank loans and overdraft are secured by legal charges for £526,662 in favour of Barclays Bank Plc dated 30 July 2008 and 28 May 2010 over freehold property known as 76 Station Road, Ruskington. There is also a debenture dated 7 April 2008 in favour of Barclays Bank Plc incorporating a mortgage over all land and a fixed and floating charge over all assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES

Within reserves there are non-distributable reserves of £149,835 (2023: £149,835) in relation to property revaluations and £18,000 (2023: £18,000) in relation to capital reserves.

EDWIN E. HARE & CO. (SEEDS) LIMITED (REGISTERED NUMBER: 00983390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
A D Hare
Balance outstanding at start of year 41,407 46,216
Amounts advanced 61,365 56,179
Amounts repaid (136,292 ) (60,988 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (33,520 ) 41,407

At the year end date the company owed £122,702 (2023 : £27,914) to the other director. Interest on overdrawn directors loan accounts is charged at the official rate. The balances outstanding are unsecured and repayable on demand.

13. RELATED PARTY DISCLOSURES

At the balance sheet date, an interest free loan of £279,320 was owed from Banovallum Properties Limited, an associated company.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EDWIN E. HARE & CO. (SEEDS) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Edwin E. Hare & Co. (Seeds) Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Edwin E. Hare & Co. (Seeds) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Edwin E. Hare & Co. (Seeds) Limited and state those matters that we have agreed to state to the Board of Directors of Edwin E. Hare & Co. (Seeds) Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Edwin E. Hare & Co. (Seeds) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Edwin E. Hare & Co. (Seeds) Limited. You consider that Edwin E. Hare & Co. (Seeds) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Edwin E. Hare & Co. (Seeds) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


14 October 2024