REGJSTERED COMPANY NUMBER: N1621885 (Northern Ireland)
REGISTERED CHARITY NUMBER: 100201
Report of the Trustees and
Unaudited Financial Statements
FOR THE YEAR ENDED
31 Deeember 2023
for
TRUE HARVLST SEEDS
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

TRUE HARVEST SEEDS
Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Report of the Trustees
I to 10
Independent Examiner'5 Report
Statement of Financial Activities
12
Balance Sheet
13 to 14
Notes to the Financial Statements
15 to 22

TRUE HARVEST SEEDS
Statement of Financial Activities
FOR THE YEAR ENDED 31 DECEMBER 2023
31112123
Total
funds
31112n2
Total
funds
Unrestricted
fund
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
DonatlODS and legacies
3,067
22,910
25,977
11,008
Other trading activities
Investment income
48,705
191
48,705
191
21,519
39
Total
51,963
22,910
74,873
32,566
EXPENDITURE ON
RaRsing fLU]ds
5,825
5,825
2,980
Charitable a¢tivities
Charitable Activity
29,861
23,807
53,668
36,071
Total
35,686
23,807
59,493
39,051
NET ￿COmE1(￿XPE￿DITURE}
16277
(897)
15J80
(6,485)
RECONCtLIATION OF FUNDS
Total funds brought forward
142,001
10,144
152,145
158,630
TOTAL FUNDS CARRIED FORWARI)
158278
9247
167,525
152,145
The notes forn) part of these fllmncial statements
12

TRUE HARVEST SEEDS
Balance Sheet
31 DECEMBER 2023
31112n3
Total
funds
31112122
Total
funds
Unrestricted
fund
Restrieted
funds
Notes
FIXED ASSETS
Tangible assets
Heritage assets
8,408
138,788
3,884
SJ63
12,292
144,151
14,197
138,901
io
147,196
9,247
156,443
153,098
CURRENT ASSETS
Cash at bank and in hand
33,017
33,017
42,393
CREDITORS
Amounts falling due within one year
(21,935)
(21935)
(43,346)
NET CURRENT ASSETS
11,082
11,082
(953)
TOTAL ASSETS LESS CURREiYr
LIABILITIES
158378
9247
167525
152,145
NET ASSETS
158,278
9247
167,525
152,145
FUNDS
Unrestricted fi￿dS
Restricted fijnds
12
158,278
9,247
142.001
10,144
TOTAL FUNDS
167,525
152,145
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 December 2023.
The members have not Tequired the company to obtain an audit of its financial statements for the year ended
31 Decernber 2023 in accordan¢¢ with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each f￿anCIal year and of its surplus or deficit for each fmancial year in accordance with the
requirements of Sections 394 and 395 and which othenvise comply with the requirements of the Companies Act
2006 relating to fmancial statements, so far as applicable to the charitable company.
(b)
The notes forni part of these f￿￿1claI statements
13
continued...

TRUE HARVEST SEEDS
Balance Sheet- continued
31 DECEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
The f￿anCIal statements were approved by the Board of Tn￿tee$ and authorised for issue on 26 September 2024 and
were signed on its behalf by:
R V Knight- Trustee
The notes forni part of these fllmncial statements
14

TRUE HARVEST SEEDS
otes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The fmancial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charÈties preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
ITeland' and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention, as modified by the revaluation of certain assets.
Critieal aecovnting judgements and key sources of estimation uncertaillty
Estimates and judgments made in the process of preparing the fmancial statements are continually evaluated and
are based on historical experience and other factors, including expectations of future events that are believed to
be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made
in applying the Trust's accounting policies or Ihat there are any critical accounting estirnates or assumptions
which may have a significant risk of causing a material adjusttnent to Ca￿yIng amounts of assets and liabilities
within the next financial year.
Income
All income is reco￿lSed in the Statement of Financial Activities once the charity has entitlement to the fimds, it
is probable that the income will be received and the amount can be me&sured reliably.
Expenditure
Liabilities are recognised as expenditure as s(M)D as there is a legal or conslrnctive obligation cotnmitting the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a b&sis consistent with the use of
resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to vnite off each asset over its estimated use￿1
life.
Herit2ge assets - seed collections
Seed collections are collection of wild flowers from all over Ireland. The cost of the collections have not been
capitalised up to 2020 as many of the collections has been donated to True Harvest Seeds. However the Board of
Trustees have revalued the collections as at 31 December 2020. The basis of this revaluation is detailed in note
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fimd is included in the notes to the fllwcial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis
over the period of the lease.
15
continued...

TRUE HARVEST SEEDS
Notes to the Financial Slatements - colltinued
FOR THE YEAR ENDED 31 DECEMBER 2023
OTHER TRADING AcfiviTIES
31J12ll3
31112122
Earned Income
48,705
21,519
INVESTMEiYf INCOME
31112n3
31112122
Deposit ac¢ount interest
191
39
RAISING FUNDS
Raising donations gnd legacies
31112n3
31112122
Support costs
51
NET tNCOMEI(EXPENDITURE)
Net income/(expenditure) is stated after chargingJ(crediting):
31112123
31112122
Depreciation - owned assets
Other operating leases
2,594
2,682
200
TRUSTEES. REMUNERATION AND BENEFITS
There were no tTUStees' remunerdtion or other benefits for the year ended 31 December 2023 nor for the year
ended 31 December 2022.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended
31 December 2022.
ST AFF COSTS
The average monthly number of employees during the year was as follows".
31112123
31112122
Management
Other
No employees received emoluments in excess of £60,000.
16
continued...

TRUE HARVEST SEEDS
Notes to the Financial Statements- Continued
FOR THE YEAR ENDED 31 DECEMBER 2023
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
funds
Total
fund5
INCOME AI¥D ENDOWMENTS FROM
Donations and legacies
583
10,425
11,008
Other trading activities
tnvestment income
21,519
39
21,519
39
Total
22,141
10.425
32,566
EXPENDITURE ON
Raising funds
2,980
2,980
Charitable activities
CharRtable Activity
25,214
10,857
36,071
Total
28,194
10,857
39,051
NET tNCOMEI(EXPENDITURE)
(6,053)
(432)
(6,485)
RECONCILIATION OF FUNDS
Total funds brought forward
148,054
10,576
158,630
TOTAL FUNDS CARRIED FORWARD
142.001
10,144
152,145
TANGIBLE FIXED ASSETS
Fixlures
and
rittings
Freehold
property
Plant and
machinery
COST
At l January 2023
Additions
12,036
6,700
2,190
At 31 December 2023
12,036
6,700
2,190
DEPRECIATION
At l January 2023
Charge for year
4,929
711
5268
358
lJ31
215
At 31 December 2023
5,640
5,626
1,546
NET BOOK VALUE
At 31 December 2023
6?96
1,074
644
At 31 December 2022
7,107
1,432
859
17
continued...

TRUE HARVEST SEEDS
Notes to the Financial Statem¢nts- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
TANGIBLE FIXED ASSETS- eontinued
Motor
vehicles
Computer
equipment
Totals
COST
At l January 2023
Additions
1556
8,855
689
31 J37
689
At 31 December 2023
1,556
9,544
32,026
DEPRECIATION
At l January 2023
Charge for year
1279
69
4a33
1241
17,140
2,594
At 31 December 2023
1,348
5J74
19,734
NET BOOK VALUE
At 31 December 2023
208
3,970
12,292
At 31 December 2022
277
4,522
14,197
io.
HERrtAGE ASSETS
Total
MARKET VALUE
At l January 2023
Adaitions
138,901
5,250
At 31 December 2023
144,151
NET BOOK VALUE
At 31 December 2023
144,151
At 31 December 2022
138,901
True Harvest Seeds is conserving Ireland's indigenous seed-bearing plants by securely storing their seeds.
Through the generous donations of seeds from local public and private landowners we are populating a seed
bank. The seeds and associated material are cared for at our Seed Centre, Kilclief, Co Do￿.
This work will ensure the security of our natsjrdl capital into the futuie. Seed and access to material and data may
be requested by bona fide individuals and organisations.
True Harvest Seeds have approximately over 350 seed collections from various native species, some of which
are Schedule 8 species meaning they are endangered and require a licence to collect and grow.
The majority of True Harvest Seeds collections are beld indefmitely and cared for to maintain their quality and to
make them available to the public.
18
continued...

TRUE HARVEST SEEDS
Notes to the Financial Slatem¢nts - continued
FOR THE YEAR ENDED 31 DECEMBER 2023
io.
HERITAGE ASSETS- continued
The cost of tbe seed collections have not been capilalised before 2020. All collections are, by their nature,
donations from land owners. Costs to collect were by True Harvest Seeds via various funding streams including
voluntary work. Prompted via discussions with our insurance company, the Board of Trustees have taken the
decision to revalue the assets and recognise them in Ihe balance sheet as heritage assets (which are biological in
nature) based on their fair value. To determine this value, for collections made in 2020 or earlier True Harvest
Seeds have used the same calculation that is used by Kews Millennium Seed Bank which is based on the cost to
replace collections. For the additions from 2021, we have used the actual cost of the seed collections as the
heritage asset value. In the year ending 31 December 2023 we have additions of15 new seed collections.
As a charity we do not charge for bona fide projects to witbdraw seeds from the seed bank and therefore no Cost
to the users is associated.
ii.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31112n3
31112122
Accrued expenses
Defe￿ed government grants
2,945
18,990
1,446
41,900
21,935
43,346
12.
MOVEMENT IN FUNDS
Net
movement
in lunds
At
31112123
At 111123
Unrestrieted funds
General fimd
142,001
16,277
158,278
Restricted funds
Heritage Lottery Fund
DAERAISLL
Co Down Rural Community
DAERA/SOS8
Awards For All
Newry Mourne Down District Council
Department for Communtiies Heritage
Fund
368
564
202
486
6,011
1,187
(93)
(141)
(51)
(122)
(162)
(297)
275
423
151
364
5,849
890
lJ26
(31)
1,295
10.144
(897)
9,247
TOTAL FUNDS
152,145
15?80
167,525
19
continued...

TRUE HARVEST SEEDS
Notes to the Financi21 Statements- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
12.
MOVEMENT IN FUNDS- eontinued
Net movernent in funds, included in the above are as follows:
Incoming
resourc
Resources
expended
Movement
in funds
Unrestricted funds
General fimd
51,963
(35,686)
16277
Restricted funds
Heritage Lottery Fund
DAER￿sLL
Co Down Rural Community
DAERAISOS8
Awards For All
Newry Mourne Down District Council
Department for Communtiies Heritage
Fund
LKLH
(93)
(141)
(51)
(122)
(162)
(297)
(93)
(141)
(51)
(122)
{162)
(297)
22,638
272
(22,669)
{272}
(31)
22,910
(23,807)
(897)
TOTAL FUNDS
74,873
(59,493)
15?80
Comparatives for movement in funds
Net
movement
in funds
A*
31112122
At 111122
Unrestricted funds
General fimd
148,054
(6,053)
142,001
Restrieted funds
Heritage Lottery Fund
DAERAISLL
Co Down Rural Community
DAERAISOS8
Awards For All
Newry Mourne DO￿ District Council
Department for Communtiies Heritage
Fund
492
752
270
(124)
(188)
(68)
(162)
(415)
(801)
368
564
202
486
6.011
1,187
6,426
1,988
1,326
1,326
10.576
(432)
10,144
TOTAL FUNDS
158,630
(6,485)
152,145
20
continued...

TRUE HARVEST SEEDS
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023
12.
MOVEMEIYT IN FU14DS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
Generdl fund
22,141
(28,194)
(6,053)
Restricted funds
Heritage Lottery Fund
DAERAISLL
Co Down Rural Community
DAEIWSOS8
Awards For All
Newry Mourne Down District Council
Department for Communtiies Heritage
Fund
LHLH
DBS
(124)
(188)
(68)
(162)
(415)
(801)
{124)
(188)
(68)
(162)
(415)
(801)
7,025
2,700
700
(5,699)
(2.700)
(700)
1,326
10,425
(10,857)
(432)
TOTAL FUNDS
32,566
(19,051)
(6.485)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in fullds
At
31112123
At ilin2
Unrestricted funds
General fund
148,054
10224
158,278
Restricted funds
Heritage Lottery Fund
DAERAISLL
Co Down Rural Conununity
DAERAISOS8
Awards For All
Newry Mourne Down District Council
Department foi Communtiie5 Heritage
Fund
492
752
270
648
6,426
1,988
(217)
(329)
(119)
(284)
(577)
(1,098)
275
423
151
364
5,849
890
1,295
1,295
10.576
(1,329)
9,247
TOTAL FUNDS
158,630
8,895
167,525
21
continued...

TRUE HARVEST SEEDS
Notes to the Financial Statements- eontinued
FOR THE YEAR ENDED 31 DECEMBER 2023
12.
MOVEMENT IN FUNDS - continued
A CU￿ellt year 12 months and prior year 12 months combined net movement in fimds, included in the above are
as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
74,104
(63,880)
10,224
Restricted funds
Heritage Lottery Fund
DAERA/SLL
Co Down Rural Community
DAERAISOS8
Awards For All
Newry Mourne DO￿ Distiict Council
Department for Communtiies Heritage
Fund
LHLH
DBS
(217)
(329)
(I 19)
(284)
(577)
(1,098)
(217)
(329)
(119)
(284)
(577)
(1,098)
29,663
2,972
700
(28,368)
(2.972)
(700)
1295
33,335
(34,664)
(1,329)
TOTAL FUNDS
107,439
(98,544)
8,895
13.
RELATED PARTY DISCLOSURES
There were no related party transactions foi the year ended 31 December 2023.
22