REGISTERED NUMBER: 05305579 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GREEN FARM SEEDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Davies

Mrs S Davies

SECRETARY:

Mrs S Davies

REGISTERED OFFICE:

Green Farm

Newent

Gloucestershire

GL18 1JU

REGISTERED NUMBER:

05305579 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

522,813

459,426

CURRENT ASSETS

Stocks

257,119

249,199

Debtors

5

576,400

453,169

Cash at bank

433,050

221,323

1,266,569

923,691

CREDITORS

Amounts falling due within one year

6

466,692

295,948

NET CURRENT ASSETS

799,877

627,743

TOTAL ASSETS LESS CURRENT LIABILITIES

1,322,690

1,087,169

CREDITORS

Amounts falling due after more than one year

7

(8,808

)

(28,991

)

PROVISIONS FOR LIABILITIES

(27,418

)

(24,882

)

NET ASSETS

1,286,464

1,033,296

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

1,286,454

1,033,286

SHAREHOLDERS' FUNDS

1,286,464

1,033,296

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 Statement of Income and Retained Earnings 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:

M Davies - Director

Mrs S Davies - Director

1.	STATUTORY INFORMATION

Green Farm 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

-

12.5% & 25% on cost respectively

Equipment

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 1a. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Going concern

There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

Provisions

Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

property

property

Equipment

£

£

£

COST

At 1 January 2024

-

383,070

169,008

Additions

80,000

-

15,803

At 31 December 2024

80,000

383,070

184,811

DEPRECIATION

At 1 January 2024

-

60,665

90,060

Charge for year

-

7,661

20,459

At 31 December 2024

-

68,326

110,519

NET BOOK VALUE

At 31 December 2024

80,000

314,744

74,292

At 31 December 2023

-

322,405

78,948

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

11,870

120,993

16,860

701,801

Additions

-

11,620

-

107,423

At 31 December 2024

11,870

132,613

16,860

809,224

DEPRECIATION

At 1 January 2024

5,655

72,680

13,315

242,375

Charge for year

932

12,688

2,296

44,036

At 31 December 2024

6,587

85,368

15,611

286,411

NET BOOK VALUE

At 31 December 2024

5,283

47,245

1,249

522,813

At 31 December 2023

6,215

48,313

3,545

459,426

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

194,975

127,860

Other debtors

34,323

58,409

Directors' loan accounts

307,735

222,443

VAT

29,817

31,490

Prepayments

9,550

12,967

576,400

453,169

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,332

10,077

Hire purchase contracts

9,851

8,963

Trade creditors

274,676

214,970

Corporation tax

159,231

53,279

Social security and other taxes

2,458

2,816

Wages control account

-

(1,222

)

Pension

582

625

Credit Card

4,772

2,420

Accruals and deferred income

4,790

4,020

466,692

295,948

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

7,034

10,332

Bank loans - 2-5 years

-

7,034

Hire purchase contracts

1,774

11,625

8,808

28,991

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

17,366

27,443

Bank loans and overdrafts are secured by way of personal guarantee by the directors.

In addition, HSBC UK Bank Plc holds a fixed and floating charge over all assets created 14 June 2021.

Hire Purchase contracts are secured on the individual assets subject to that contract

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

M Davies and Mrs S Davies

Balance outstanding at start of year

222,443

141,845

Amounts advanced

340,799

282,413

Amounts repaid

(255,505

)

(201,815

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

307,737

222,443

Interest has been charged on the above balance at the HMRC approved rate. There are no set repayment terms