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VITAL SEEDS LTD

Registered Number
11141744
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2024

VITAL SEEDS LTD
Company Information
for the period from 1 February 2024 to 31 October 2024

Directors

GROOM, Alexander Frederick
SCHLUMBERGER, Ronja

Registered Address

Baddaford Farm
Ashburton
Newton Abbot
TQ13 7NF

Registered Number

11141744 (England and Wales)
VITAL SEEDS LTD
Statement of Financial Position
31 October 2024

Notes

31 Oct 2024

31 Jan 2024

£

£

£

£

Fixed assets
Tangible assets349,50810,223
49,50810,223
Current assets
Stocks417,16957,184
Debtors16,16411,147
Cash at bank and on hand279,480305,862
312,813374,193
Creditors amounts falling due within one year5(16,474)(33,338)
Net current assets (liabilities)296,339340,855
Total assets less current liabilities345,847351,078
Net assets345,847351,078
Capital and reserves
Called up share capital1001
Profit and loss account345,747351,077
Shareholders' funds345,847351,078
The financial statements were approved and authorised for issue by the Board of Directors on 12 May 2025, and are signed on its behalf by:
GROOM, Alexander Frederick
Director
SCHLUMBERGER, Ronja
Director

Registered Company No. 11141744
VITAL SEEDS LTD
Notes to the Financial Statements
for the period ended 31 October 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).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242024
Average number of employees during the year65
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 248,34217,86926,211
Additions44,670-44,670
At 31 October 2453,01217,86970,881
Depreciation and impairment
At 01 February 245,49610,49215,988
Charge for year4,0021,3835,385
At 31 October 249,49811,87521,373
Net book value
At 31 October 2443,5145,99449,508
At 31 January 242,8467,37710,223
4.Stocks

2024

2024

££
Finished goods17,16957,184
Total17,16957,184
5.Creditors: amounts due within one year

2024

2024

££
Trade creditors / trade payables6,5383,458
Bank borrowings and overdrafts-47
Taxation and social security-20,798
Other creditors9,9369,035
Total16,47433,338