Seed Innovations Limited
SEED Innovations Limited is a Guernsey-incorporated, AIM-listed closed-ended investment company (not an operating trading business). It invests in disruptive early-stage and growth technology, life sciences, cannabinoid, wellness and fintech companies, principally in North America and Europe, combining a longer-term venture capital approach with a tactical short-term trading strategy to capture liquidity. It is self-managed (no external investment manager) with day-to-day recommendations made by Executive Directors.
FY2025 in sixty seconds
year to 31 Mar 2025 · approved 19 Jun 2025 · 45 pages · Company website
SEED Innovations invests in young technology, life sciences, cannabis-related and financial technology companies. It has no sales to customers, so its results depend mainly on changes in the value of its investments. For the year to 31 March 2025 it made a profit of £367k, compared with a loss of £2.1m the year before.
Running costs fell to £744k from £952k. A loan it had made was written off as unrecoverable, and its holding in Northern Leaf was valued at nil after a failed stock market listing and an unsuccessful merger. The report describes difficult markets and muted investor interest.
Cash at the year end was £3.4m, with no borrowings. The company paid a one-off special dividend totalling £2.0m and bought back some of its shares. No final dividend is proposed.
The board says it remains optimistic but will look at other strategic options if new investments are not made. The shares ended the year 73.8% below the company's asset value per share. The auditor's opinion was clean, but 93% of the investments' value rests on judgement-based estimates for companies not traded on a market.
Not applicable — the Company has no trading revenue; returns derive from investment gains/losses and bank interest on cash held
The Company receives no revenues from external customers (Segmental Information)
page 34Operating costs remained stable despite inflationary pressures
Chairman's Statement: SEED's operating costs have remained stable despite ongoing inflationary pressures
page 4Chairman: the board remains optimistic and views the current disconnect between market value and intrinsic value of the portfolio as a compelling investment opportunity; if new investments are not made, the board will look at other strategic options.
page 4On 16 April 2024 the Company declared a special dividend of 1.0 pence (£0.01) per Ordinary Share (2024: £Nil), totalling £1,998,000 paid in the year. The Directors do not propose a final dividend for the year ended 31 March 2025 (2024: £Nil)
page 129 years on one page · FY2017–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Every figure is read again from the following year’s report: 145 confirmed, 4 differ.
No figure has been restated: every figure a later report printed again, it printed the same.