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REGISTERED NUMBER: 00158227 (England and Wales)










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: Mr J C Keer
Mr J R Kingston-Smith





SECRETARY: Mr J C Keer





REGISTERED OFFICE: 5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ





REGISTERED NUMBER: 00158227 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
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 6,213 2,581
Investment property 5 950,000 950,000
956,213 952,581

CURRENT ASSETS
Debtors 6 19,025 10,618
Cash at bank 3,424 9,350
22,449 19,968
CREDITORS
Amounts falling due within one year 7 159,062 147,040
NET CURRENT LIABILITIES (136,613 ) (127,072 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

819,600

825,509

CREDITORS
Amounts falling due after more than one
year

8

(158,546

)

(158,178

)

PROVISIONS FOR LIABILITIES 11 (128,722 ) (128,722 )
NET ASSETS 532,332 538,609

CAPITAL AND RESERVES
Called up share capital 11,983 11,983
Retained earnings 12 520,349 526,626
SHAREHOLDERS' FUNDS 532,332 538,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





Mr J R Kingston-Smith - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 2 (2023 - 2 ) .

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 22,966 2,708 25,674
Additions 6,600 - 6,600
At 29 June 2024 29,566 2,708 32,274
DEPRECIATION
At 30 June 2023 21,282 1,811 23,093
Charge for year 2,071 897 2,968
At 29 June 2024 23,353 2,708 26,061
NET BOOK VALUE
At 29 June 2024 6,213 - 6,213
At 29 June 2023 1,684 897 2,581

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 June 2023
and 29 June 2024 950,000
NET BOOK VALUE
At 29 June 2024 950,000
At 29 June 2023 950,000

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 - 3,000
Other debtors 4,787 1,909
Directors' current accounts 14,238 5,709
19,025 10,618

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 24,095 23,079
Trade creditors 2,200 -
Tax 2,878 4,304
VAT 121,576 111,674
Other creditors 2,714 2,714
Accrued expenses 5,599 5,269
159,062 147,040

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 158,546 158,178

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 24,095 23,079

Amounts falling due between one and two years:
Bank loans - 1-2 years 24,095 23,079

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 72,286 69,238

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 182,641 181,257

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 128,722
Revaluation of investment prop
Balance at 29 June 2024 128,722

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
£    £   
Mr J R Kingston-Smith
Balance outstanding at start of year 5,709 -
Amounts advanced 8,529 5,709
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,238 5,709

14. RELATED PARTY DISCLOSURES

During the year the company procured management, bookkeeping and maintenance services from the director totalling £47,300 (2023 - £30,315).