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REGISTERED NUMBER: 04492884 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2024

for

PREMIER SEED SERVICES LTD

PREMIER SEED SERVICES LTD (Registered number: 04492884)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER SEED SERVICES LTD

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr J A Stollery
Mrs N M Stollery
Mr A J Stollery
Ms J A Eaves





SECRETARY: Mr J A Stollery





REGISTERED OFFICE: 60 Low Street
Benhall
Saxmundham
Suffolk
IP17 1JE





REGISTERED NUMBER: 04492884 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

PREMIER SEED SERVICES LTD (Registered number: 04492884)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,292,832 1,211,585
1,292,832 1,211,585

CURRENT ASSETS
Stocks 100,000 127,890
Debtors 6 138,314 122,490
Cash at bank and in hand 349,645 271,219
587,959 521,599
CREDITORS
Amounts falling due within one year 7 35,365 118,112
NET CURRENT ASSETS 552,594 403,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,845,426

1,615,072

PROVISIONS FOR LIABILITIES 8 211,387 185,933
NET ASSETS 1,634,039 1,429,139

CAPITAL AND RESERVES
Called up share capital 5 5
Revaluation reserve 9 382,043 382,043
Retained earnings 1,251,991 1,047,091
SHAREHOLDERS' FUNDS 1,634,039 1,429,139

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.

PREMIER SEED SERVICES LTD (Registered number: 04492884)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





Mr J A Stollery - Director


PREMIER SEED SERVICES LTD (Registered number: 04492884)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

PREMIER SEED SERVICES LTD 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business, is being amortised evenly over its estimated useful life of 10 years and is written off to the profit and loss account.

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 - At varying rates
Plant and machinery - 10% on reducing balance
Seed plant machinery - 4% on reducing balance
Motor vehicles - 20% on reducing balance
Office & computer equipment - Straight line over 4 years

Revaluation of Seed Plant Machinery

In the year ended 30 June 2019 the directors' revalued Seed Plant Machinery and have recognized this equipment as a separate asset class. Depreciation is provided to write off the equipment at 4%. The directors' review the value of Seed Plant Machinery for any impairment on an annual basis. Any impairment to the assets classes fair value will be adjusted against reserves.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

PREMIER SEED SERVICES LTD (Registered number: 04492884)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 50,000
AMORTISATION
At 1 July 2023
and 30 June 2024 50,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Seed
Land and Plant and plant
buildings machinery machinery
£    £    £   
COST OR VALUATION
At 1 July 2023 589,255 216,831 671,294
Additions - 11,085 58,490
At 30 June 2024 589,255 227,916 729,784
DEPRECIATION
At 1 July 2023 121,400 68,325 118,346
Charge for year 20,570 15,959 24,458
At 30 June 2024 141,970 84,284 142,804
NET BOOK VALUE
At 30 June 2024 447,285 143,632 586,980
At 30 June 2023 467,855 148,506 552,948

PREMIER SEED SERVICES LTD (Registered number: 04492884)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Office &
Motor computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 111,947 11,167 1,600,494
Additions 97,041 5,658 172,274
At 30 June 2024 208,988 16,825 1,772,768
DEPRECIATION
At 1 July 2023 72,945 7,893 388,909
Charge for year 27,209 2,831 91,027
At 30 June 2024 100,154 10,724 479,936
NET BOOK VALUE
At 30 June 2024 108,834 6,101 1,292,832
At 30 June 2023 39,002 3,274 1,211,585

Cost or valuation at 30 June 2024 is represented by:

Seed
Land and Plant and plant
buildings machinery machinery
£    £    £   
Valuation in 2019 - - 374,989
Cost 589,255 227,916 354,795
589,255 227,916 729,784

Office &
Motor computer
vehicles equipment Totals
£    £    £   
Valuation in 2019 - - 374,989
Cost 208,988 16,825 1,397,779
208,988 16,825 1,772,768

If Seed Plant Machinery had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 236,511 236,511
Aggregate depreciation 96,669 96,669

PREMIER SEED SERVICES LTD (Registered number: 04492884)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Seed Plant Machinery was valued on an open market value basis on 30 June 2019 by the director Mr J Stollery, this value is still considered representative of current open market values as at 30 June 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,440 -
Unbilled sales contracts 65,000 80,000
Directors' current accounts 3,780 3,752
VAT 66,757 22,656
Prepayments 1,337 16,082
138,314 122,490

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,566 65,531
Tax 15,442 34,078
Social security and other taxes 6,793 10,365
Other creditors 2,954 2,608
Accrued expenses 5,610 5,530
35,365 118,112

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 211,387 185,933

Deferred
tax
£   
Balance at 1 July 2023 185,933
Movement in year 25,454
Balance at 30 June 2024 211,387

9. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 382,043

PREMIER SEED SERVICES LTD (Registered number: 04492884)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. DIRECTORS LOAN ACCOUNTS

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr J A Stollery
Balance outstanding at start of year (1,598 ) 6,945
Amounts advanced (122 ) -
Amounts repaid - (8,543 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,720 ) (1,598 )

Mr A J Stollery
Balance outstanding at start of year 5,500 2,500
Amounts advanced 5,500 5,500
Amounts repaid (5,500 ) (2,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,500 5,500

Ms J A Eaves
Balance outstanding at start of year (150 ) (500 )
Amounts advanced 150 350
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (150 )