Floral Decor Limited 04521489 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of interior landscapers Digita Accounts Production Advanced 6.30.9574.0 true true 04521489 2022-07-01 2023-06-30 04521489 2023-06-30 04521489 core:FinanceLeases core:CurrentFinancialInstruments 2023-06-30 04521489 core:CurrentFinancialInstruments 2023-06-30 04521489 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04521489 core:Goodwill 2023-06-30 04521489 core:FurnitureFittingsToolsEquipment 2023-06-30 04521489 core:MotorVehicles 2023-06-30 04521489 bus:SmallEntities 2022-07-01 2023-06-30 04521489 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04521489 bus:FullAccounts 2022-07-01 2023-06-30 04521489 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04521489 bus:RegisteredOffice 2022-07-01 2023-06-30 04521489 bus:Director1 2022-07-01 2023-06-30 04521489 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04521489 core:Goodwill 2022-07-01 2023-06-30 04521489 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 04521489 core:MotorCars 2022-07-01 2023-06-30 04521489 core:MotorVehicles 2022-07-01 2023-06-30 04521489 core:PlantMachinery 2022-07-01 2023-06-30 04521489 countries:UnitedKingdom 2022-07-01 2023-06-30 04521489 2022-06-30 04521489 core:Goodwill 2022-06-30 04521489 core:FurnitureFittingsToolsEquipment 2022-06-30 04521489 core:MotorVehicles 2022-06-30 04521489 2021-07-01 2022-06-30 04521489 2022-06-30 04521489 core:FinanceLeases core:CurrentFinancialInstruments 2022-06-30 04521489 core:CurrentFinancialInstruments 2022-06-30 04521489 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 04521489 core:Goodwill 2022-06-30 04521489 core:FurnitureFittingsToolsEquipment 2022-06-30 04521489 core:MotorVehicles 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 04521489

Floral Decor Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Floral Decor Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Floral Decor Limited

(Registration number: 04521489)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

375

Tangible assets

5

-

689

 

-

1,064

Current assets

 

Stocks

6

40,454

33,990

Debtors

7

22,466

26,554

Cash at bank and in hand

 

88,869

56,981

 

151,789

117,525

Creditors: Amounts falling due within one year

8

(130,196)

(114,506)

Net current assets

 

21,593

3,019

Total assets less current liabilities

 

21,593

4,083

Provisions for liabilities

-

(130)

Net assets

 

21,593

3,953

Capital and reserves

 

Called up share capital

100

100

Retained earnings

21,493

3,853

Shareholders' funds

 

21,593

3,953

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 September 2023
 

.........................................

Mrs J Fairbank
Director

 

Floral Decor Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital incorporated in the United Kingdom and the company registration number is 04521489.

The address of its registered office is:
Brockway
Main Road
Hatcliffe
Grimsby
North East Lincolnshire
DN37 0SL

These financial statements were authorised for issue by the director on 7 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. There have been no changes to the accounting policies as a result of the adoption of the new standards.

Statement of compliance

These financial statements have been prepared in accordance with Financial reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements cover the individual entity only, they have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Floral Decor Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on intangible fixed assets so as to write off the cost; less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line basis

Plant and machinery

15% and 33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Floral Decor Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 3 (2022 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

30,000

30,000

At 30 June 2023

30,000

30,000

Amortisation

At 1 July 2022

29,625

29,625

Amortisation charge

375

375

At 30 June 2023

30,000

30,000

Carrying amount

At 30 June 2023

-

-

At 30 June 2022

375

375

 

Floral Decor Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Tangible assets

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

8,706

11,025

19,731

At 30 June 2023

8,706

11,025

19,731

Depreciation

At 1 July 2022

8,706

10,336

19,042

Charge for the year

-

689

689

At 30 June 2023

8,706

11,025

19,731

Carrying amount

At 30 June 2023

-

-

-

At 30 June 2022

-

689

689

6

Stocks

2023
£

2022
£

Other inventories

40,454

33,990

7

Debtors

Current

2023
£

2022
£

Trade debtors

21,221

24,823

Prepayments

1,245

1,731

 

22,466

26,554

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

5,222

5,855

Taxation and social security

 

20,776

22,538

Other creditors

 

77,678

55,805

Accruals and deferred income

 

26,520

22,097

Finance lease liabilities

 

-

594

Other borrowings

 

-

7,617

 

130,196

114,506

 

Floral Decor Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Finance lease liabilities

-

594

Other borrowings

77,522

63,422

77,522

64,016

10

Related party transactions

Directors and key management compensation

2023
£

2022
£

Contributions paid to money purchase schemes

-

10,000

Transactions with directors

Dividends paid to the directors during the year total £55,000 (2022- £47,453).