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Registration number: 07528150

Seed Technical Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Seed Technical Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Seed Technical Ltd

(Registration number: 07528150)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,727

2,851

Current assets

 

Debtors

5

52,877

42,772

Cash at bank and in hand

 

3,753

2,358

 

56,630

45,130

Creditors: Amounts falling due within one year

6

(37,163)

(28,341)

Net current assets

 

19,467

16,789

Net assets

 

21,194

19,640

Capital and reserves

 

Called up share capital

25

25

Retained earnings

21,169

19,615

Shareholders' funds

 

21,194

19,640

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

.........................................
T Potts
Company secretary and director

 

Seed Technical Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 Hedgeway
Newbury
Berkshire
RG14 2PB
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of safety and reliability consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Motor vehicles

25% reducing balance basis

 

Seed Technical Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for safety and reliability consultancy services performed in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

8,864

15,418

24,282

At 31 March 2024

8,864

15,418

24,282

Depreciation

At 1 April 2023

7,707

13,724

21,431

Charge for the year

701

423

1,124

At 31 March 2024

8,408

14,147

22,555

Carrying amount

At 31 March 2024

456

1,271

1,727

At 31 March 2023

1,157

1,694

2,851

5

Debtors

 

Seed Technical Ltd

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

Current

2024
£

2023
£

Trade debtors

15,984

15,382

Other debtors

36,893

27,390

 

52,877

42,772

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

175

-

Taxation and social security

36,308

27,661

Other creditors

680

680

37,163

28,341

7

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

T Potts

8,979

13,030

(839)

21,170

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

T Potts

9,834

6,430

(7,285)

8,979