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SEEDL Group Limited

Registered Number
12562706
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

SEEDL Group Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Mr A Price

Registered Address

20-22 Wenlock Road
London
N1 7GU

Registered Number

12562706 (England and Wales)
SEEDL Group Limited
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid574574
Fixed assets
Tangible assets310,6439,208
10,6439,208
Current assets
Debtors457,31136,746
Cash at bank and on hand124,716140,485
182,027177,231
Creditors amounts falling due within one year5(254,865)(213,499)
Net current assets (liabilities)(72,264)(35,694)
Total assets less current liabilities(61,621)(26,486)
Creditors amounts falling due after one year6(335,177)(59,814)
Net assets(396,798)(86,300)
Capital and reserves
Called up share capital1,0001,000
Share premium527,411527,411
Profit and loss account(925,209)(614,711)
Shareholders' funds(396,798)(86,300)
The financial statements were approved and authorised for issue by the Director on 6 February 2025, and are signed on its behalf by:
Mr A Price
Director
Registered Company No. 12562706
SEEDL Group Limited
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Dep @20% SLM.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year1212
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 July 2312,0321,78113,813
Additions3,9187404,658
At 30 June 2415,9502,52118,471
Depreciation and impairment
At 01 July 234,3172884,605
Charge for year2,7354883,223
At 30 June 247,0527767,828
Net book value
At 30 June 248,8981,74510,643
At 30 June 237,7151,4939,208
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables32,30025,669
Other debtors8,892877
Prepayments and accrued income16,11910,200
Total57,31136,746
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,93118,127
Taxation and social security26,81626,776
Other creditors8,9425,086
Accrued liabilities and deferred income206,176163,510
Total254,865213,499
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts275,363-
Other creditors59,81459,814
Total335,17759,814
During the year, the company borrowed £300,000 which is due for repayment by August 2028. The loan is secured by fixed and floating charge on the assets of the company.
7.Related party transactions
Included within other other creditors as at year end is £230 (2023: £230), an amount owed to the directors of the company. The amount owed is unsecured and there are no specific terms to the repayment of this amount.