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Registered number: 00653934
SEYMOUR STEVENS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 MARCH 2025
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SEYMOUR STEVENS LIMITED
REGISTERED NUMBER: 00653934
BALANCE SHEET
AS AT 30 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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SEYMOUR STEVENS LIMITED
REGISTERED NUMBER: 00653934
BALANCE SHEET (CONTINUED)
AS AT 30 MARCH 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 7 form part of these financial statements.
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SEYMOUR STEVENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
Seymour Stevens Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is Luddenham Court, Luddenham, Faversham, Kent, ME13 0TH.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company’s cashflow is variable depending on the timing of produce sales. Creditors includes £220,117 owed to the directors for which immediate payment is not required. The directors consider that the Company has sufficient assets to meet its liabilities, so the going concern basis remains appropriate.
Turnover comprises of amounts derived from the provision of goods and services in the normal course of business, net of discounts and Value Added Tax. Income is recognised once the company has transferred the significant risks and rewards of ownership and it is probable that the company will receive the consideration due under the contract.
Income due under the Basic Payment Scheme is included in the accounts for the calendar year to which it relates, provided that the qualifying conditions have been met.
Other amounts received under agri-environmental schemes are included in turnover for the period to which they relate.
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SEYMOUR STEVENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both a straight line and reducing balance approach.
Depreciation is provided on the following basis:
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Freehold land is not depreciated
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L/Term Leasehold Property
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20% and 12.5% of net book value
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Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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SEYMOUR STEVENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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The directors have made key assumptions regarding the valuation of stock. The stock has been valued by the directors and at the end of the reporting period has been estimated at £93,730 (2024: £122,670).
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The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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SEYMOUR STEVENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
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L/Term Leasehold Property
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Charge for the year on owned assets
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The net book value of land and buildings may be further analysed as follows:
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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SEYMOUR STEVENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £NIL (2024: £127). Contributions totalling £NIL (2024: £NIL) were payable to the fund at the balance sheet date and are included in creditors.
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