Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31No description of principal activity2022-08-01false147falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08605222 2022-08-01 2023-07-31 08605222 2021-08-01 2022-07-31 08605222 2023-07-31 08605222 2022-07-31 08605222 c:Director1 2022-08-01 2023-07-31 08605222 d:MotorVehicles 2022-08-01 2023-07-31 08605222 d:MotorVehicles 2023-07-31 08605222 d:MotorVehicles 2022-07-31 08605222 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08605222 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-08-01 2023-07-31 08605222 d:OfficeEquipment 2022-08-01 2023-07-31 08605222 d:OfficeEquipment 2023-07-31 08605222 d:OfficeEquipment 2022-07-31 08605222 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08605222 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-08-01 2023-07-31 08605222 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08605222 d:LeasedAssetsHeldAsLessee 2022-08-01 2023-07-31 08605222 d:Goodwill 2023-07-31 08605222 d:Goodwill 2022-07-31 08605222 d:CurrentFinancialInstruments 2023-07-31 08605222 d:CurrentFinancialInstruments 2022-07-31 08605222 d:Non-currentFinancialInstruments 2023-07-31 08605222 d:Non-currentFinancialInstruments 2022-07-31 08605222 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08605222 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08605222 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 08605222 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 08605222 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 08605222 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 08605222 d:ShareCapital 2023-07-31 08605222 d:ShareCapital 2022-07-31 08605222 d:RetainedEarningsAccumulatedLosses 2023-07-31 08605222 d:RetainedEarningsAccumulatedLosses 2022-07-31 08605222 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 08605222 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 08605222 c:FRS102 2022-08-01 2023-07-31 08605222 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08605222 c:FullAccounts 2022-08-01 2023-07-31 08605222 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08605222 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 08605222









FLOWERS ESTATE AGENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
FLOWERS ESTATE AGENTS LTD
REGISTERED NUMBER: 08605222

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
45,024
47,966

  
45,024
47,966

Current assets
  

Debtors: amounts falling due within one year
 6 
84,332
69,350

Cash at bank and in hand
 7 
148,076
186,173

  
232,408
255,523

Creditors: amounts falling due within one year
 8 
(58,494)
(69,080)

Net current assets
  
 
 
173,914
 
 
186,443

Total assets less current liabilities
  
218,938
234,409

Creditors: amounts falling due after more than one year
 9 
(19,168)
(29,166)

  

Net assets
  
199,770
205,243

Page 1

 
FLOWERS ESTATE AGENTS LTD
REGISTERED NUMBER: 08605222
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
199,769
205,242

  
199,770
205,243


The director considers 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 director acknowledges his 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 on 6 October 2023.




S Flowers
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Flowers Estate Agents Ltd, Company Registration Number 08605222
A company limited by shares and incorporated in England and Wales
Registered office address
London House
16 Oxford Street
Woodstock
OX20 1TS
The principal activity of the group is that of a real estate agent. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

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.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

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.

 
2.12

Cash and cash equivalents

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.

 
2.13

Creditors

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.

Page 5

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 7).

Page 6

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets



Goodwill

£



Cost


At 1 August 2022
50,000



At 31 July 2023

50,000



Amortisation


At 1 August 2022
50,000



At 31 July 2023

50,000



Net book value



At 31 July 2023
-



Page 7

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
53,141
20,928
74,069


Additions
8,795
1,841
10,636



At 31 July 2023

61,936
22,769
84,705



Depreciation


At 1 August 2022
12,178
13,925
26,103


Charge for the year on owned assets
-
1,926
1,926


Charge for the year on financed assets
11,652
-
11,652



At 31 July 2023

23,830
15,851
39,681



Net book value



At 31 July 2023
38,106
6,918
45,024


6.


Debtors

2023
2022
£
£


Trade debtors
38,602
62,854

Other debtors
35,000
-

Prepayments and accrued income
7,460
6,496

Deferred taxation
3,270
-

84,332
69,350


Page 8

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
148,076
186,173

Less: bank overdrafts
(1,179)
(251)

146,897
185,922



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1,179
251

Bank loans
10,000
10,000

Trade creditors
12,360
18,313

Corporation tax
9,163
20,861

Other taxation and social security
13,879
16,441

Other creditors
5,022
2,998

Accruals and deferred income
6,891
216

58,494
69,080



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,168
29,166

19,168
29,166


Page 9

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


Amounts falling due 2-5 years

Bank loans
19,167
29,167


29,167
39,167



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
148,076
186,173




Financial assets measured at fair value through profit or loss comprise; Cash at bank and in hand


12.


Pension commitments

The Company operates a defined contributions pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds.
The pension cost charge to the SJP pension represents contributions payable by the Company to the fund and amounted to £12,000 (2022 - £69,000).
The pension cost charge to the workplace pension represents contributions payable by the Company  to the fund and amounted to £3,641 (2022 - £2,802).
Contributions totalling £644 (2022 - £534) were payable to the fund at the balance sheet date.

Page 10

 
FLOWERS ESTATE AGENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

13.


Related party transactions

The director of the company, Mr S Flowers, have advanced funds to the company,
interest free and unsecured. Details of the balance are set out below and disclosed within Other
Creditors; Amounts falling due after within one year.
The company had advanced funds to Bridal Reloved Tring Limited, a company controlled by the spouse of Mr S Flowers. The amount is interest free and unsecured, details of the balance are
set out below and disclosed within Other Debtors: Amounts falling due within one year.


2023
2022
£
£

Mr S Flowers
(4,380)
(2,462)
Bridal Reloved Tring Lrd
35,000
-
30,620
(2,462)

 
Page 11