IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4488792023-03-31SC4488792024-03-31SC4488792023-04-012024-03-31SC4488792022-03-31SC4488792022-04-012023-03-31SC4488792023-03-31SC448879ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-31SC448879ns15:PoundSterling2023-04-012024-03-31SC448879ns11:FRS1022023-04-012024-03-31SC448879ns11:IndependentExaminationCharity2023-04-012024-03-31SC448879ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC448879ns11:FullAccounts2023-04-012024-03-31SC448879ns11:CharitiesSORP2023-04-012024-03-31SC448879ns16:EnglandWales2023-04-012024-03-31SC448879ns11:RegisteredOffice2023-04-012024-03-31SC448879ns0:Trustee12023-04-012024-03-31SC448879ns0:Trustee32023-04-012024-03-31SC448879ns0:Trustee42023-04-012024-03-31SC448879ns0:Trustee22023-04-012024-03-31SC448879ns0:Trustee52023-04-012024-03-31SC448879ns0:Trustee62023-04-012024-03-31SC448879ns0:Trustee72023-04-012024-03-31SC448879ns11:CompanySecretary12023-04-012024-03-31SC448879ns0:TotalUnrestrictedFunds2023-04-012024-03-31SC448879ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC448879ns0:Activity82023-04-012024-03-31SC448879ns0:Activity8ns0:TotalUnrestrictedFunds2023-04-012024-03-31SC448879ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC448879ns0:Activity82022-04-012023-03-31SC448879ns0:Activity92023-04-012024-03-31SC448879ns0:TotalUnrestrictedFundsns0:Activity92023-04-012024-03-31SC448879ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC448879ns0:Activity92022-04-012023-03-31SC448879ns0:TotalUnrestrictedFunds2023-03-31SC448879ns0:TotalRestrictedIncomeFunds2023-03-31SC448879ns0:TotalUnrestrictedFunds2024-03-31SC448879ns0:TotalRestrictedIncomeFunds2024-03-31SC448879ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-31SC448879ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2024-03-31SC448879ns10:WithinOneYear2024-03-31SC448879ns10:WithinOneYear2023-03-31SC448879ns0:TotalUnrestrictedFundsns10:AfterOneYear2024-03-31SC448879ns10:AfterOneYearns0:TotalRestrictedIncomeFunds2024-03-31SC448879ns10:AfterOneYear2024-03-31SC448879ns10:AfterOneYear2023-03-31SC44887922023-04-012024-03-31SC44887912023-04-012024-03-31SC44887912022-04-012023-03-31SC448879ns10:OwnedAssets2023-04-012024-03-31SC448879ns10:OwnedAssets2022-04-012023-03-31SC448879ns10:LeasedAssets2023-04-012024-03-31SC448879ns10:LeasedAssets2022-04-012023-03-31SC448879ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC448879ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC448879ns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC448879ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC448879ns0:TotalUnrestrictedFundsns0:Activity92022-04-012023-03-31SC448879ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC448879ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-31SC448879ns10:PlantMachinery2023-03-31SC448879ns10:MotorVehicles2023-03-31SC448879ns10:ComputerEquipment2023-03-31SC448879ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-04-012024-03-31SC448879ns10:PlantMachinery2023-04-012024-03-31SC448879ns10:MotorVehicles2023-04-012024-03-31SC448879ns10:ComputerEquipment2023-04-012024-03-31SC448879ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-03-31SC448879ns10:PlantMachinery2024-03-31SC448879ns10:MotorVehicles2024-03-31SC448879ns10:ComputerEquipment2024-03-31SC448879ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-31SC448879ns10:PlantMachinery2023-03-31SC448879ns10:MotorVehicles2023-03-31SC448879ns10:ComputerEquipment2023-03-31SC448879ns10:WithinOneYear2022-03-31SC448879ns10:BetweenOneFiveYears2024-03-31SC448879ns10:BetweenOneFiveYears2023-03-31SC448879ns10:MoreThanFiveYears2024-03-31SC448879ns10:MoreThanFiveYears2023-03-31SC448879ns10:AllPeriods2024-03-31SC448879ns10:AllPeriods2023-03-31
REGISTERED COMPANY NUMBER: SC448879 (Scotland)
REGISTERED CHARITY NUMBER: 050056














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Seed Box Limited

The Seed Box Limited






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Statement of Financial Position 7 to 8

Notes to the Financial Statements 9 to 17

The Seed Box Limited (Registered number: SC448879)

Report of the Trustees
for the Year Ended 31 March 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable company's objectives are, by the promotion of education in horticulture and gardening, including the sale of garden produce, to provide training and therapy for individuals with a learning disability, mental health problem or who require similar additional support.

Significant activities
- We are pleased to announce that our new site at Lochton of Leys, Banchory is nearing completion, with the plan to fully operate from there by July 2024. We would like to extend our gratitude to the Leys estate for their significant support throughout this project, which will provide expanded placement and training opportunities for our colleagues, improved road access, and enhanced facilities for both our staff and customers. The new facility will also provide long-term resilience for The Seed Box Ltd.

- There was a significant increase in Grants & Donations again during this financial year. Most of these were to help fund the Lochton of Leys project. The Trustees and everyone at The Seed Box Ltd are extremely grateful to the following funders for all their support:

Aberdeen Airport FundFinnis ScottFoundation Scotland Vattenfall Fund
Percy BiltonEB Scotland (SEPA)Social Investment Scotland
Foundation Scotland,Marr AreaMulberry Trust
Aberdeenshire CouncilGladstone FamilyThe Aberbrothock Charitable Trust
J & F Burnett of LeysBarratt HomesKing George V Banchory
Callender Trust Tesco Scotland

-There was an increase in Stall Income as The Seed Box Ltd continued to run The Aboyne Farmer's Market for most months in 2023-2024 as well as attending other local Markets. There is a lot of work involved in organising the market and stall prices were increased for this year.

- We have renewed our lease with the Ballogie Estate which is for a 5-year lease effective 1st June 2023. The current agreement with the Glen Tanar Estate walled garden continues. A lease was signed for the land at Lochton of Leys effective 1st October 2023 for a 25-year period.

- The Seed Box Ltd has been recognised with the King's Award for Voluntary Service in November 2023. This is a testament to the dedication and hard work of our staff, Trustees, and volunteers, who have made an invaluable contribution to our organisation.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
- Service & Transport Income increased by approx. £43,275. There was a council rate uplift in line with government requirement effective 1st April 2023 and there were more service users transported this year.

- Veg sales increased slightly by £759 during the year. Slight increase in veg customers for the year.

- Plant Sales also remained steady with a slight decrease of £383 this year - The Open weekend was held again at our Ballogie site and was once again widely supported by the community.

- We have approx. 14 volunteers attending The Seed Box Ltd every week. The company is most grateful for all the time & effort the volunteers give to The Seed Box Ltd and thank them for their continued support.


The Seed Box Limited (Registered number: SC448879)

Report of the Trustees
for the Year Ended 31 March 2024

FINANCIAL REVIEW
Financial position
- At 31 March 2024, the charity held £126,210 in bank accounts. Some of this money is grants for the new site project which have been paid up front.

- Most of the charity's income is covered through Service Level Agreements with Aberdeenshire Council, Angus Council & Perth & Kinross Council. Some income is also as a result of direct referrals. Additional income is made from Produce Sales from garden products etc and is part of the charity's training and wellbeing therapy for its users.

-Wages have increased due to a staff pay rise effective April 2023 in line with the government requirement for a Social Care Pay uplift. We also took on a PT member of staff in November 2023 whose role is Training and Support Co-ordinator.

-Professional fees associated with the Lochton of Leys Project have decreased as anticipated, standing at approximately £3,726. This reduction is primarily due to the project entering the build phase.

-Motor vehicle and Hire Purchase expenses have increased by £1,484 for the year, despite a slight decrease in fuel prices. This upward trend can be attributed to several factors, including the acquisition of a small, second-hand vehicle in July 2023 to support the insurance & transportation of service users. Additionally, a vehicle was rented for a few days when an existing vehicle developed an exhaust leak.

-There has been a slight increase in insurance costs to cover the new site at Lochton of Leys.

- Repairs and Renewals have increased mainly due to the development of the new site at Lochton of Leys, Banchory.

Reserves policy
The Trustees reviewed the Reserves Policy in November 2023 and agreed that the organisation should maintain approximately £68,000 in reserves. This amount is intended to cover the necessary expenses for at least three months, including staff wages and overhead costs.

Going concern
-The service & transport income has increased by £43,275 as well as an increase in the amount of grants & donations received, of £163,483. This helped The Seed Box Ltd remain a viable going concern.

- The Seed Box Ltd currently has significant cash reserves (£126,210). With this healthy balance and the tight financial controls in place, the Trustees do not have any current concerns over the viability of the enterprise.

-The Seed Box Ltd are nearing completion of a new site to allow the charity to take on more co-workers, which should be operational by July 2024. This will enable the Enterprise to increase its size and long-term resilience. The Trustees have secured funding to cover the cost of this project.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Seed Box Ltd is a Company Limited by Guarantee, as defined by the Companies Act 2006. It was Incorporated on 30 April 2013 and was registered as a Charity on 19 March 2020. The Company was established under a Memorandum of Association which established the objects and powers of the company and it is governed under its Articles of Association.


The Seed Box Limited (Registered number: SC448879)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Seed Box Ltd was awarded charity status on 19 March 2020 on which date all the existing directors were appointed as Trustees.

The structure of the charity consists of members who have the right to attend general meetings and appoint the director / Trustees, and director / Trustees who hold regular meetings and generally control and supervise the activities of the charitable company.

Mrs B L Rowlands, who is a Trustee is employed on behalf of The Seed Box Ltd as The Manager to carry out the day-to-day management of the company. This is in accordance with The Seed Box Ltd Articles of Association. None of the Trustees have any beneficial interest in the company. All Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC448879 (Scotland)

Registered Charity number
050056

Registered office
Walled Garden
Ballogie
Aboyne
Aberdeenshire
AB34 5DT

Trustees
Mrs B L Rowlands
Mr P J Rowlands
Ms A P Dykes
Mr G F C Haslam Chairperson
Mrs L Gray
Mrs W Buchan
Mrs J Hessing

The appointment of existing Trustees will be ratified and any new Trustees will be appointed by the membership at the annual general meeting.

Company Secretary
Mrs B L Rowlands

Independent Examiner
The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR


The Seed Box Limited (Registered number: SC448879)

Report of the Trustees
for the Year Ended 31 March 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 19 November 2024 and signed on its behalf by:





Mr G F C Haslam - Trustee

Independent Examiner's Report to the Trustees of
The Seed Box Limited

I report on the accounts for the year ended 31 March 2024 set out on pages six to seventeen.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Louise A Considine
The Institute of Chartered Accountants of Scotland

The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

19 November 2024

The Seed Box Limited

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 2,181 161,302 163,483 135,615

Charitable activities
Charitable Activites 275,153 - 275,153 228,579

Other trading activities 4 5,404 - 5,404 4,853
Investment income 5 1,374 - 1,374 388
Other income - - - 2,253
Total 284,112 161,302 445,414 371,688

EXPENDITURE ON
Raising funds 85 - 85 81

Charitable activities
Charitable Activites - - - 151
Cost of Charitable Activities 288,700 5,650 294,350 237,818

Other 1,164 - 1,164 1,453
Total 289,949 5,650 295,599 239,503

NET INCOME/(EXPENDITURE) (5,837 ) 155,652 149,815 132,185


RECONCILIATION OF FUNDS
Total funds brought forward 89,931 113,690 203,621 71,436

TOTAL FUNDS CARRIED FORWARD 84,094 269,342 353,436 203,621

The Seed Box Limited (Registered number: SC448879)

Statement of Financial Position
31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 98,492 258,414 356,906 213,975

CURRENT ASSETS
Stocks 12 8,611 - 8,611 6,399
Debtors 13 17,199 - 17,199 10,034
Cash at bank and in hand 115,282 10,928 126,210 90,886
141,092 10,928 152,020 107,319

CREDITORS
Amounts falling due within one year 14 (152,009 ) - (152,009 ) (110,393 )

NET CURRENT ASSETS (10,917 ) 10,928 11 (3,074 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

87,575

269,342

356,917

210,901

CREDITORS
Amounts falling due after more than one year 15 (3,481 ) - (3,481 ) (7,280 )

NET ASSETS 84,094 269,342 353,436 203,621
FUNDS 18
Unrestricted funds 84,094 89,931
Restricted funds 269,342 113,690
TOTAL FUNDS 353,436 203,621

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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.


The Seed Box Limited (Registered number: SC448879)

Statement of Financial Position - continued
31 March 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 19 November 2024 and were signed on its behalf by:





Mrs B L Rowlands - Trustee

The Seed Box Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Seed Box Ltd is a private charitable company limited by guarantee and registered in Scotland. The charity's registered number, company number and and registered office can be found in the Reference and Administration Details section of the Report of the Trustees.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c).

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from Government and other grants is recognised when the charity is entitled to the funds, and any conditions attached to the grants have been met, it is probable that the income will be recieved, and the amounts can be measured reliably and is not deferred.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions, then the income is deferred and not recognised until either the conditions are fully met or the fulfilment of the conditions are wholly within the control of the charity and it is probable that those conditions will be met within the reporting period.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure is incurred in direct pursuance of the charity's principal objectives and includes staff costs and support costs.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include general overheads and governance costs.

Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and carried at cost. Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The rates applied are:

The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Plant & machinery 25% on reducing balance
Motor vehicles25% on reducing balance
Computer equipment25% on reducing balance
Improvements to property 10% on straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3. DONATIONS AND LEGACIES
2024 2023
£    £   
Donations 102,681 22,927
Grants 60,802 112,688
163,483 135,615

The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

2024 2023
£    £   
Mulberry Trust 10,000 7,500
Grants for Lochton of Leys 50,802 93,188
AVA - 10,000
Community Food Fund - 2,000
60,802 112,688

4. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Fundraising events 129 533
Stall income 5,275 4,320
5,404 4,853

5. INVESTMENT INCOME
2024 2023
£    £   
Deposit account interest 1,374 388

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 29,332 1,518
Depreciation - assets on hire purchase contracts and finance leases 5,740 5,269
Other operating leases 4,917 3,000
Surplus on disposal of fixed assets - (2,253 )
Interest on hire purchase contracts 1,164 1,453
Interest on loans 8,899 1,662

7. TRUSTEES' REMUNERATION AND BENEFITS
2024 2023
£    £   
Trustees' salaries 31,814 29,238
Trustees' pension contributions to money purchase schemes 758 690
32,572 29,928

Mrs B Rowlands is employed to run the charity on a day to day basis.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. STAFF COSTS
2024 2023
£    £   
Wages and salaries 159,132 147,638
Social security costs 6,791 5,977
Other pension costs 3,084 2,847
169,007 156,462

The average monthly number of employees during the year was as follows:

2024 2023
Manager 1 1
Service providers 5 5
Administration 2 2
8 8

No employees received emoluments in excess of £60,000.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 20,427 115,188 135,615

Charitable activities
Charitable Activites 228,579 - 228,579

Other trading activities 4,853 - 4,853
Investment income 388 - 388
Other income 2,253 - 2,253
Total 256,500 115,188 371,688

EXPENDITURE ON
Raising funds 81 - 81

Charitable activities
Charitable Activites 151 - 151
Cost of Charitable Activities 236,320 1,498 237,818

Other 1,453 - 1,453
Total 238,005 1,498 239,503

NET INCOME 18,495 113,690 132,185


RECONCILIATION OF FUNDS
Total funds brought forward 71,436 - 71,436


The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   
TOTAL FUNDS CARRIED FORWARD 89,931 113,690 203,621

10. INDEPENDENT EXAMINER'S FEES

2024 2023
£    £   
Independent examiner's fees 1,385 865
Tax advisory services 100 -
Consultancy services 50 -

11. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 172,217 15,930 36,917 4,291 229,355
Additions 132,367 35,161 10,100 375 178,003
At 31 March 2024 304,584 51,091 47,017 4,666 407,358
DEPRECIATION
At 1 April 2023 - 3,592 10,896 892 15,380
Charge for year 20,291 5,911 7,989 881 35,072
At 31 March 2024 20,291 9,503 18,885 1,773 50,452
NET BOOK VALUE
At 31 March 2024 284,293 41,588 28,132 2,893 356,906
At 31 March 2023 172,217 12,338 26,021 3,399 213,975

The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor
vehicles
£   
COST
At 1 April 2023 33,077
Transfer to ownership (13,082 )
At 31 March 2024 19,995
DEPRECIATION
At 1 April 2023 8,856
Charge for year 5,740
Transfer to ownership (8,972 )
At 31 March 2024 5,624
NET BOOK VALUE
At 31 March 2024 14,371
At 31 March 2023 24,221

12. STOCKS
2024 2023
£    £   
Stocks 8,611 6,399

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,772 -
Prepayments and accrued income 15,427 10,034
17,199 10,034


The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 16) 138,619 96,000
Hire purchase (see note 17) 3,798 5,999
Trade creditors 1,502 937
Social security and other taxes 2,511 1,836
VAT 3,354 1,842
Other creditors 770 324
Accruals and deferred income 1,455 3,455
152,009 110,393

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase (see note 17) 3,481 7,280

16. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Other loans 138,619 96,000

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,798 5,999
Between one and five years 3,481 7,280
7,279 13,279
Non-cancellable operating leases
2024 2023
£    £   
Within one year 12,500 8,167
Between one and five years 45,583 50,000
In more than five years - 5,083
58,083 63,250


The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 89,931 (5,837 ) 84,094

Restricted funds
Lochton of Leys 113,690 138,724 252,414
Seed Box restricted funds - 16,928 16,928
113,690 155,652 269,342
TOTAL FUNDS 203,621 149,815 353,436

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 284,112 (289,949 ) (5,837 )

Restricted funds
Lochton of Leys 144,302 (5,578 ) 138,724
Seed Box restricted funds 17,000 (72 ) 16,928
161,302 (5,650 ) 155,652
TOTAL FUNDS 445,414 (295,599 ) 149,815


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 71,436 18,495 89,931

Restricted funds
Lochton of Leys - 113,690 113,690

TOTAL FUNDS 71,436 132,185 203,621

The Seed Box Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 256,500 (238,005 ) 18,495

Restricted funds
Lochton of Leys 115,188 (1,498 ) 113,690

TOTAL FUNDS 371,688 (239,503 ) 132,185

Movement on the general fund represents the difference between incoming resources and expenditure incurred providing the charity's services and administering the charity.

The rise in total income of £73,726 was mainly a result of the following:

- Service & Transport Income increased by approximately £43,275. There was a council rate uplift in line with government requirements, effective from 1st April 2023 and there were more service users transported this year.

- Grant & Donation Income increased again during the financial year by £27,868 and most of this was to help fund the Lochton of Leys project.

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.