Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-319The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-01false10falsetruefalse 11761312 2023-06-01 2024-05-31 11761312 2022-06-01 2023-05-31 11761312 2024-05-31 11761312 2023-05-31 11761312 2022-06-01 11761312 c:Director5 2023-06-01 2024-05-31 11761312 d:PlantMachinery 2023-06-01 2024-05-31 11761312 d:PlantMachinery 2024-05-31 11761312 d:PlantMachinery 2023-05-31 11761312 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11761312 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 11761312 d:MotorVehicles 2023-06-01 2024-05-31 11761312 d:MotorVehicles 2024-05-31 11761312 d:MotorVehicles 2023-05-31 11761312 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11761312 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 11761312 d:ComputerEquipment 2023-06-01 2024-05-31 11761312 d:ComputerEquipment 2024-05-31 11761312 d:ComputerEquipment 2023-05-31 11761312 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11761312 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 11761312 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11761312 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 11761312 d:CurrentFinancialInstruments 2024-05-31 11761312 d:CurrentFinancialInstruments 2023-05-31 11761312 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 11761312 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11761312 d:ShareCapital 2024-05-31 11761312 d:ShareCapital 2023-05-31 11761312 d:RetainedEarningsAccumulatedLosses 2024-05-31 11761312 d:RetainedEarningsAccumulatedLosses 2023-05-31 11761312 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 11761312 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 11761312 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 11761312 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 11761312 c:OrdinaryShareClass1 2023-06-01 2024-05-31 11761312 c:OrdinaryShareClass1 2024-05-31 11761312 c:OrdinaryShareClass1 2023-05-31 11761312 c:OrdinaryShareClass2 2023-06-01 2024-05-31 11761312 c:OrdinaryShareClass2 2024-05-31 11761312 c:OrdinaryShareClass2 2023-05-31 11761312 c:FRS102 2023-06-01 2024-05-31 11761312 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11761312 c:FullAccounts 2023-06-01 2024-05-31 11761312 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11761312 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 11761312 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 11761312 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11761312









SEED ENVIRONMENTAL (IRELAND) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
REGISTERED NUMBER: 11761312

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
22,239
16,539

  
22,239
16,539

CURRENT ASSETS
  

Stocks
  
17,800
-

Debtors: amounts falling due within one year
 5 
723,115
543,171

Cash at bank and in hand
 6 
153,165
79,621

  
894,080
622,792

Creditors: amounts falling due within one year
 7 
(665,825)
(544,758)

NET CURRENT ASSETS
  
 
 
228,255
 
 
78,034

TOTAL ASSETS LESS CURRENT LIABILITIES
  
250,494
94,573

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(4,827)
(3,315)

  
 
 
(4,827)
 
 
(3,315)

NET ASSETS
  
245,667
91,258


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
245,567
91,158

  
245,667
91,258


Page 1

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
REGISTERED NUMBER: 11761312
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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.

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




F C Cawley
Director

Date: 24 March 2025

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

Page 2

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

Seed Environmental (Ireland) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is One St Peter's Square, Manchester, M2 3DE.
Its principal trading address is Unit 14, Graham Industrial Park, Belfast, BT3 9LP.

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

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of consulting and contracting services and goods supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.4

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 ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.8
TANGIBLE FIXED ASSETS (CONTINUED)

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
Computer 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.

 
2.9

STOCKS

Stocks compriseconsumables and are stated at the lower of cost and net realisable value.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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 ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.15

DIVIDENDS

Equity dividends are recognised when they become legally payable.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 10 (2023 - 9).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



COST 


At 1 June 2023
9,898
20,478
12,473
42,849


Additions
8,308
-
4,088
12,396



At 31 May 2024

18,206
20,478
16,561
55,245



DEPRECIATION


At 1 June 2023
4,499
11,196
10,615
26,310


Charge for the year on owned assets
2,349
405
1,673
4,427


Charge for the year on financed assets
-
2,269
-
2,269



At 31 May 2024

6,848
13,870
12,288
33,006



NET BOOK VALUE



At 31 May 2024
11,358
6,608
4,273
22,239



At 31 May 2023
5,399
9,282
1,858
16,539

Page 6

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

           4.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£


Motor vehicles
5,636
7,905


5.


DEBTORS

2024
2023
£
£

Trade debtors excluding factored debts
108,036
41,874

Factored debts
352,028
329,382

Amounts owed by group undertakings
82,590
80,090

Prepayments and accrued income
180,461
91,825

723,115
543,171







6.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
153,165
79,621

Less: bank overdrafts
(145,847)
(96,956)

7,318
(17,335)


Page 7

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
145,847
96,956

Trade creditors
86,738
54,277

Amounts owed to group undertakings
261,684
251,209

Corporation tax
103,651
41,679

Other taxation and social security
46,442
77,176

Obligations under finance lease and hire purchase contracts
442
4,584

Other creditors
5,037
4,917

Accruals and deferred income
15,984
13,960

665,825
544,758


Bank overdrafts of £145,847 (2023 - £96,956) are secrued by a charge over the Company's factored debts and a fixed and floating charge over the Company's other assets.
Obligations under finance leases are secured on the assets concerned.
The Company operates a defined contribution pension scheme. Contributions totalling £4,032 (2023 - £3,994) were payable to the fund at the balance sheet date and are included within other creditors.


8.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
3,315
5,034


Charged/(credited) to profit or loss
1,512
(1,719)



AT END OF YEAR
4,827
3,315

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
5,173
3,664

Short term timing differences
(346)
(349)

4,827
3,315

Page 8

 
SEED ENVIRONMENTAL (IRELAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



7,600 (2023 - 7,600) A Ordinary shares of £0.01 each
76
76
2,400 (2023 - 2,400) B Ordinary shares of £0.01 each
24
24

100

100



10.FINANCIAL COMMITMENTS

Total financial commitments, guarentees and contingencies that are not included on the balance sheet amount to £25,673 (2023 - £3,885).
 
Page 9