| REGISTERED NUMBER: |
| Financial Statements |
| For The Period 1 July 2023 to 31 December 2024 |
| for |
| Acc-Sel Genetics Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| For The Period 1 July 2023 to 31 December 2024 |
| for |
| Acc-Sel Genetics Limited |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Contents of the Financial Statements |
| For The Period 1 July 2023 to 31 December 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Acc-Sel Genetics Limited |
| Company Information |
| For The Period 1 July 2023 to 31 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditor |
| Goodridge Court |
| Goodridge Avenue |
| Gloucester |
| Gloucestershire |
| GL2 5EN |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Statement of Financial Position |
| 31 December 2024 |
| 31.12.24 | 30.6.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Notes to the Financial Statements |
| For The Period 1 July 2023 to 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Acc-Sel Genetics Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The period represents an 18 month period to 31 December 2024. The company extended its year end to be consistent with the group. |
| Related party disclosure exemption |
| Intercompany transactions and balances with the holding company which are eliminated on consolidation have not been disclosed separately in these accounts in accordance with the exemption under paragraph 33.1A of the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland'. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer . This is usually on delivery but on some occasions, the semen is stored for customers at the company's trading premises. |
| Goodwill |
| During the period, the directors assessed the goodwill to be fully impaired on the basis the brand was no longer being used. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Office equipment, fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Notes to the Financial Statements - continued |
| For The Period 1 July 2023 to 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. |
| Basic financial liabilities |
| Basic financial liabilities, including trade and other creditors, and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Notes to the Financial Statements - continued |
| For The Period 1 July 2023 to 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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 period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| Goodwill | software | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2023 |
| Additions |
| Impairments | (26,114 | ) | - | (26,114 | ) |
| At 31 December 2024 |
| AMORTISATION |
| Amortisation for period |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 30 June 2023 |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Notes to the Financial Statements - continued |
| For The Period 1 July 2023 to 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Office |
| equipment, |
| Improvements | fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 July 2023 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for period |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 30 June 2023 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 30 June 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 30.6.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments |
| Acc-Sel Genetics Limited (Registered number: 04191347) |
| Notes to the Financial Statements - continued |
| For The Period 1 July 2023 to 31 December 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 30.6.23 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.24 | 30.6.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 30.6.23 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | ULTIMATE PARENT UNDERTAKING AND CONSOLIDATED ACCOUNTS |
| The ultimate parent undertaking is Select Sires Inc, a company registered in USA. Consolidated group accounts can be obtained from that company at 5545 Avenida de los Robles, Visalia, California 93291, USA. |