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REGISTERED NUMBER: 03352454 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

HURRELL & MCLEAN SEEDS LIMITED

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HURRELL & MCLEAN SEEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: E P A Gladstone
N A Gladstone
P R Elstob
J J Elstob





SECRETARY: J J Elstob





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 03352454 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,125 15,625
Tangible assets 5 1,066,135 303,943
1,069,260 319,568

CURRENT ASSETS
Stocks 154,800 161,935
Debtors 6 1,392,090 384,389
Cash at bank 796,365 2,006,046
2,343,255 2,552,370
CREDITORS
Amounts falling due within one year 7 391,772 331,251
NET CURRENT ASSETS 1,951,483 2,221,119
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,020,743

2,540,687

PROVISIONS FOR LIABILITIES 54,870 47,973
NET ASSETS 2,965,873 2,492,714

CAPITAL AND RESERVES
Called up share capital 8 56 56
Share premium 964,221 964,221
Revaluation reserve 9 - 38,923
Retained earnings 2,001,596 1,489,514
SHAREHOLDERS' FUNDS 2,965,873 2,492,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

BALANCE SHEET - continued
31 JANUARY 2024


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 30 October 2024 and were signed on its behalf by:





N A Gladstone - Director


HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Hurrell & McLean 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 as modified by the revaluation of certain assets.

Turnover
Turnover relates to seed merchant income excluding discounts, rebates, value added tax and other taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 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.

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 250,000
AMORTISATION
At 1 February 2023 234,375
Charge for year 12,500
At 31 January 2024 246,875
NET BOOK VALUE
At 31 January 2024 3,125
At 31 January 2023 15,625

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 - 588,351 588,351
Additions 812,098 183,185 995,283
Disposals - (198,184 ) (198,184 )
At 31 January 2024 812,098 573,352 1,385,450
DEPRECIATION
At 1 February 2023 - 284,408 284,408
Charge for year 16,242 43,438 59,680
Eliminated on disposal - (24,773 ) (24,773 )
At 31 January 2024 16,242 303,073 319,315
NET BOOK VALUE
At 31 January 2024 795,856 270,279 1,066,135
At 31 January 2023 - 303,943 303,943

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 185,366 206,077
Other debtors 1,206,724 178,312
1,392,090 384,389

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 102,689 183,684
Taxation and social security 279,917 140,560
Other creditors 9,166 7,007
391,772 331,251

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
32 Ordinary A £1 32 32
4 Ordinary B £1 4 4
3 Ordinary C £1 3 3
3 Ordinary D £1 3 3
4 Ordinary E £1 4 4
4 Ordinary F £1 4 4
3 Ordinary G £1 3 3
3 Ordinary H £1 3 3
56 56

9. RESERVES
Revaluation
reserve
£   
At 1 February 2023 38,923
Transfer to non distributable reserve (38,923 )

At 31 January 2024 -

HURRELL & MCLEAN SEEDS LIMITED (REGISTERED NUMBER: 03352454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
E P A Gladstone
Balance outstanding at start of year 77 (576 )
Amounts advanced 989 653
Amounts repaid (1,066 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 77

N A Gladstone
Balance outstanding at start of year 91,950 (496 )
Amounts advanced 1,064,721 163,946
Amounts repaid (560,500 ) (71,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 596,171 91,950

P R Elstob and J J Elstob
Balance outstanding at start of year 67,502 (497 )
Amounts advanced 1,103,175 204,999
Amounts repaid (608,500 ) (137,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 562,177 67,502