REGISTERED NUMBER: 03952911 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Western Seeds Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

John Faulconbridge

Mrs Jeanne Faulconbridge

SECRETARY:

Jeanne Faulconbridge

REGISTERED OFFICE:

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

03952911 (England and Wales)

FIXED ASSETS

Intangible assets

4

1,373

1,648

Tangible assets

5

49,295

58,357

50,668

60,005

CURRENT ASSETS

Stocks

6

467,371

559,656

Debtors

7

27,358

22,953

Cash at bank and in hand

1,623

31

496,352

582,640

CREDITORS

Amounts falling due within one year

8

87,040

322,841

NET CURRENT ASSETS

409,312

259,799

TOTAL ASSETS LESS CURRENT LIABILITIES

459,980

319,804

CREDITORS

Amounts falling due after more than one year

9

-

(14,925

)

PROVISIONS FOR LIABILITIES

(12,315

)

(14,285

)

NET ASSETS

447,665

290,594

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

447,663

290,592

SHAREHOLDERS' FUNDS

447,665

290,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 29 September 2025 and were signed on its behalf by:

John Faulconbridge - Director

1.	STATUTORY INFORMATION

Western Seeds 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 ) .

4.	INTANGIBLE FIXED ASSETS

Trademark

£

COST

At 1 January 2024

and 31 December 2024

2,748

AMORTISATION

At 1 January 2024

1,100

Amortisation for year

275

At 31 December 2024

1,375

NET BOOK VALUE

At 31 December 2024

1,373

At 31 December 2023

1,648

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

11,755

144,498

6,064

Additions

-

812

-

At 31 December 2024

11,755

145,310

6,064

DEPRECIATION

At 1 January 2024

10,575

90,637

4,960

Charge for year

1,175

8,201

166

At 31 December 2024

11,750

98,838

5,126

NET BOOK VALUE

At 31 December 2024

5

46,472

938

At 31 December 2023

1,180

53,861

1,104

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

6,995

9,822

179,134

Additions

-

-

812

At 31 December 2024

6,995

9,822

179,946

DEPRECIATION

At 1 January 2024

6,995

7,610

120,777

Charge for year

-

332

9,874

At 31 December 2024

6,995

7,942

130,651

NET BOOK VALUE

At 31 December 2024

-

1,880

49,295

At 31 December 2023

-

2,212

58,357

6.

STOCKS

31.12.24

31.12.23

£

£

Stocks

467,371

559,656

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

8,541

4,213

Western Seeds Ireland Ltd

1,647

1,647

VAT

3,083

3,391

Prepayments

14,087

13,702

27,358

22,953

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

163,855

Hire purchase contracts

-

342

Payments on account

-

8,134

Trade creditors

23,906

92,678

Tax

55,053

29,493

Social Security and Other Taxes

371

1,260

Directors' current accounts

4,625

24,223

Accrued expenses

3,085

2,856

87,040

322,841

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

-

10,015

Bank loans - 2-5 years

-

4,910

-

14,925

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

-

153,840

Bank loans

-

24,940

-

178,780

Bank borrowings are secured by means of a fixed and floating charge over the company's assets.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

John Faulconbridge and Mrs Jeanne Faulconbridge

Balance outstanding at start of year

(24,223

)

(41,221

)

Amounts advanced

26,600

19,000

Amounts repaid

(7,002

)

(2,002

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,625

)

(24,223

)