REGISTERED NUMBER: 00838371 (England and Wales)

Seed Developments Limited

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A N M Gould

D C Chance

D G Arnold

I C West

Lord N F Markham

REGISTERED OFFICE:

Unit A Huntworth Way

North Petherton

Bridgwater

Somerset

TA6 6FA

REGISTERED NUMBER:

00838371 (England and Wales)

AUDITORS:

Maxwells

Chartered Accountants

and Statutory Auditor

4 King Square

Bridgwater

Somerset

TA6 3YF

FIXED ASSETS

Intangible assets

5

4,000

5,680

Tangible assets

6

298,442

327,887

Investments

7

1

1

302,443

333,568

CURRENT ASSETS

Stocks

207,449

231,732

Debtors

2,233,815

2,081,199

Cash at bank

40,149

22,043

2,481,413

2,334,974

CREDITORS

Amounts falling due within one year

376,763

258,142

NET CURRENT ASSETS

2,104,650

2,076,832

TOTAL ASSETS LESS CURRENT LIABILITIES

2,407,093

2,410,400

PROVISIONS FOR LIABILITIES

75,500

83,000

NET ASSETS

2,331,593

2,327,400

CAPITAL AND RESERVES

Called up share capital

6,000

6,000

Retained earnings

2,325,593

2,321,400

SHAREHOLDERS' FUNDS

2,331,593

2,327,400

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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

A N M Gould - Director

1.	STATUTORY INFORMATION

Seed Developments 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have ben prepared in accordance with applicable accounting standards and estimation techniques, and on a going concern basis.

Turnover

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Land and buildings

-

over life of lease

Plant and machinery etc

-

33% on cost and 10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 37 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

6,480

AMORTISATION

At 1 April 2024

800

Amortisation for year

1,680

At 31 March 2025

2,480

NET BOOK VALUE

At 31 March 2025

4,000

At 31 March 2024

5,680

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

806,455

Additions

7,497

Disposals

(3,638

)

At 31 March 2025

810,314

DEPRECIATION

At 1 April 2024

478,568

Charge for year

33,728

Eliminated on disposal

(424

)

At 31 March 2025

511,872

NET BOOK VALUE

At 31 March 2025

298,442

At 31 March 2024

327,887

7.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

769

-

Between one and five years

170,628

249,264

171,397

249,264

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

-

5,721

Bank loans are secured over the assets of the company.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Blannin (Senior Statutory Auditor)

for and on behalf of Maxwells

11.	RELATED PARTY DISCLOSURES

During the year £5,700 (2024: £14,000) was paid to Horticultural Marketing Services, a business controlled by David Arnold, a director. These costs were invoiced at open market value.

At the year-end the company was owed £1,894,435 (2024: £1,889,185) by its parent, Seed Invesco Limited.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Seed Invesco Limited.