Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31falseThe principal activity of the Company is electrical installation.52023-06-017truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08487834 2023-06-01 2024-05-31 08487834 2022-06-01 2023-05-31 08487834 2024-05-31 08487834 2023-05-31 08487834 c:Director3 2023-06-01 2024-05-31 08487834 d:PlantMachinery 2023-06-01 2024-05-31 08487834 d:PlantMachinery 2024-05-31 08487834 d:PlantMachinery 2023-05-31 08487834 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08487834 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08487834 d:MotorVehicles 2023-06-01 2024-05-31 08487834 d:MotorVehicles 2024-05-31 08487834 d:MotorVehicles 2023-05-31 08487834 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08487834 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08487834 d:OfficeEquipment 2023-06-01 2024-05-31 08487834 d:OfficeEquipment 2024-05-31 08487834 d:OfficeEquipment 2023-05-31 08487834 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08487834 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08487834 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08487834 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08487834 d:CurrentFinancialInstruments 2024-05-31 08487834 d:CurrentFinancialInstruments 2023-05-31 08487834 d:Non-currentFinancialInstruments 2024-05-31 08487834 d:Non-currentFinancialInstruments 2023-05-31 08487834 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 08487834 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08487834 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 08487834 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08487834 d:ShareCapital 2024-05-31 08487834 d:ShareCapital 2023-05-31 08487834 d:RetainedEarningsAccumulatedLosses 2024-05-31 08487834 d:RetainedEarningsAccumulatedLosses 2023-05-31 08487834 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 08487834 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 08487834 d:OtherDeferredTax 2024-05-31 08487834 d:OtherDeferredTax 2023-05-31 08487834 c:OrdinaryShareClass1 2023-06-01 2024-05-31 08487834 c:OrdinaryShareClass1 2024-05-31 08487834 c:OrdinaryShareClass1 2023-05-31 08487834 c:OrdinaryShareClass2 2023-06-01 2024-05-31 08487834 c:OrdinaryShareClass2 2024-05-31 08487834 c:OrdinaryShareClass2 2023-05-31 08487834 c:FRS102 2023-06-01 2024-05-31 08487834 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08487834 c:FullAccounts 2023-06-01 2024-05-31 08487834 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08487834 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 08487834 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 08487834 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 08487834 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 08487834 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08487834









SEED RENEWABLES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
SEED RENEWABLES LIMITED
REGISTERED NUMBER: 08487834

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Tangible assets
 4 
52,362
32,325

  
52,362
32,325

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
230,058
621,814

Cash at bank and in hand
  
91,758
531,637

  
321,816
1,153,451

Creditors: amounts falling due within one year
 6 
(310,096)
(1,094,271)

NET CURRENT ASSETS
  
 
 
11,720
 
 
59,180

Creditors: amounts falling due after more than one year
 7 
(12,597)
-

Deferred tax
 9 
(12,824)
(7,783)

NET ASSETS
  
38,661
83,722


CAPITAL AND RESERVES
  

Called up share capital 
 10 
120
120

Profit and loss account
  
38,541
83,602

  
38,661
83,722


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

Page 1

 
SEED RENEWABLES LIMITED
REGISTERED NUMBER: 08487834
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




L P Heath
Director

Date: 27 February 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

Seed Renewables Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA. Its principal place of business is Unit 3, Landwades Business Park, Kennett, Newmarket, Suffolk, CB8 7PN.
The Company's functional and presentational currency is GBP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current 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 income 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.


Page 4

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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.

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

Depreciation is provided on the following basis:

Plant and machinery
-
33%
reducing balance
Motor vehicles
-
33%
reducing balance
Office equipment
-
33%
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.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

DIVIDENDS

Equity dividends are recognised when they become legally payable.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 7).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST


At 1 June 2023
3,500
30,995
643
35,138


Additions
7,598
22,990
8,539
39,127



At 31 May 2024

11,098
53,985
9,182
74,265



DEPRECIATION


At 1 June 2023
194
2,583
36
2,813


Charge for the year on owned assets
3,296
10,332
2,269
15,897


Charge for the year on financed assets
-
3,193
-
3,193



At 31 May 2024

3,490
16,108
2,305
21,903



NET BOOK VALUE



At 31 May 2024
7,608
37,877
6,877
52,362



At 31 May 2023
3,306
28,412
607
32,325

The net carrying amount of assets held under hire purchases included in motor vehicles is £19,797 (2023: £Nil).

Page 6

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


DEBTORS

2024
2023
£
£

Trade debtors
162,103
96,743

Other debtors
8,818
5,582

Called up share capital not paid
18
18

Prepayments and accrued income
59,119
519,471

230,058
621,814



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
207,882
484,990

Corporation tax
60,033
48,844

Other taxation and social security
4,095
48,345

Obligations under finance lease and hire purchase contracts
3,720
-

Other creditors
3,466
32,413

Accruals and deferred income
30,900
479,679

310,096
1,094,271


Other creditors include contributions of £1,710 (2023 - £2,069) payable to the Company's defined contribution pension scheme at the balance sheet date.
Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
12,597
-

12,597
-


Obligations under finance lease and hire purchase contracts are secured on the assets concerned.

Page 7

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
3,720
-

Between 1-5 years
12,597
-

16,317
-


9.


DEFERRED TAXATION




2024


£






At beginning of year
7,783


Charged to profit or loss
5,041



AT END OF YEAR
12,824

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
13,091
8,081

Short term timing differences
(267)
(298)

12,824
7,783

Page 8

 
SEED RENEWABLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



600 (2023 - 9,000) A Ordinary shares of £0.01 each
6
90
11,400 (2023 - 3,000) B Ordinary shares of £0.01 each
114
30

120

120

On 7 October 2024, 8,400 A Ordinary shares of £0.01 each were re-designated as 8,400 B Ordinary shares of £0.01 each.


 
Page 9