| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 June 2024 |
| for |
| SUFFOLK SEED STORES LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 June 2024 |
| for |
| SUFFOLK SEED STORES LIMITED |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Contents of the Financial Statements |
| for the Year Ended 29 June 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SUFFOLK SEED STORES LIMITED |
| Company Information |
| for the Year Ended 29 June 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Church Street |
| Framlingham |
| Woodbridge |
| Suffolk |
| IP13 9BQ |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Balance Sheet |
| 29 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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. |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Balance Sheet - continued |
| 29 June 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Notes to the Financial Statements |
| for the Year Ended 29 June 2024 |
| 1. | STATUTORY INFORMATION |
| SUFFOLK SEED STORES LIMITED is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 30 June 2023 |
| Additions |
| At 29 June 2024 |
| DEPRECIATION |
| At 30 June 2023 |
| Charge for year |
| At 29 June 2024 |
| NET BOOK VALUE |
| At 29 June 2024 |
| At 29 June 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 30 June 2023 |
| and 29 June 2024 |
| NET BOOK VALUE |
| At 29 June 2024 |
| At 29 June 2023 |
| Fair value at 29 June 2024 is represented by: |
| £ |
| Valuation in 2006 | 982,890 |
| Valuation in 2017 | (150,000 | ) |
| Cost | 117,110 |
| 950,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 117,110 | 117,110 |
| Investment property was valued on an open market basis on 11 December 2017 by NP Nicholas Percival . |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2024 |
| 5. | INVESTMENT PROPERTY - continued |
| No further revaluations have been carried out as the directors consider the value of £950,000 still represents a fair value at 29 June 2024. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors | 4,787 | 1,909 |
| Directors' current accounts | 14,238 | 5,709 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Tax |
| VAT | 121,576 | 111,674 |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 9) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 62,165 | 65,861 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2024 |
| 9. | LOANS - continued |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 62,165 | 65,861 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| The bank loans and overdrafts are secured against assets of the company. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 128,722 | 128,722 |
| Deferred |
| tax |
| £ |
| Balance at 30 June 2023 |
| Revaluation of investment prop |
| Balance at 29 June 2024 |
| 12. | RESERVES |
| The Profit and Loss reserve includes £704,168 (£2023: £704,168) of unrealised gains on the revaluation of investment property and other financial investments. |
| SUFFOLK SEED STORES LIMITED (Registered number: 00158227) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2024 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 29 June 2024 and 29 June 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 14. | RELATED PARTY DISCLOSURES |
| During the year the company procured management, bookkeeping and maintenance services from the director totalling £47,300 (2023 - £30,315). |