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REGISTERED NUMBER: 00278975 (England and Wales)















Kieft & Sons Limited

Audited Financial Statements for the Year Ended 31 May 2023






Kieft & Sons Limited (Registered number: 00278975)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Kieft & Sons Limited

Company Information
for the Year Ended 31 May 2023







Directors: A Bird
W L N Roozen





Secretary: A Bird





Registered office: Reepham Road
Horsford
Norwich
Norfolk
NR30 3AL





Registered number: 00278975 (England and Wales)





Auditors: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Kieft & Sons Limited (Registered number: 00278975)

Statement of Financial Position
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 148,543 149,864

Current assets
Stocks 144,834 187,209
Debtors 5 106,586 127,253
Cash at bank and in hand 136,886 174,789
388,306 489,251
Creditors
Amounts falling due within one year 6 131,979 268,557
Net current assets 256,327 220,694
Total assets less current liabilities 404,870 370,558

Provisions for liabilities 18,979 12,540
Net assets 385,891 358,018

Capital and reserves
Called up share capital 51,000 51,000
Share premium 149,600 149,600
Retained earnings 185,291 157,418
Shareholders' funds 385,891 358,018

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:




W L N Roozen - Director



A Bird - Director


Kieft & Sons Limited (Registered number: 00278975)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. Statutory information

Kieft & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts allowed and excluding VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on their receipt of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures fittings and equipment - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Kieft & Sons Limited (Registered number: 00278975)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 5 ) .

4. Tangible fixed assets
Fixtures
fittings
and Motor
equipment vehicles Totals
£    £    £   
Cost
At 1 June 2022 770,466 10,745 781,211
Additions 1,858 14,990 16,848
At 31 May 2023 772,324 25,735 798,059
Depreciation
At 1 June 2022 620,757 10,590 631,347
Charge for year 17,388 781 18,169
At 31 May 2023 638,145 11,371 649,516
Net book value
At 31 May 2023 134,179 14,364 148,543
At 31 May 2022 149,709 155 149,864

Kieft & Sons Limited (Registered number: 00278975)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. Debtors: amounts falling due within one year
31/5/23 31/5/22
£    £   
Trade debtors 86,565 109,236
Amounts owed by group undertakings 2,600 2,802
Other debtors 17,421 15,215
106,586 127,253

6. Creditors: amounts falling due within one year
31/5/23 31/5/22
£    £   
Trade creditors 21,619 43,501
Amounts owed to group undertakings 49,769 169,584
Taxation and social security 44,916 44,520
Other creditors 15,675 10,952
131,979 268,557

7. Leasing agreements
The company's premises is owned by Roozen Flowerbulb Group BV, its immediate parent company. The annual rent is £25,000 ( 2022 - £25,000 ) per annum.

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Nicholas Toon (Senior Statutory Auditor)
for and on behalf of Fairhead Bradford

9. Related party disclosures

During the year the company had the following transactions with other companies within the group:-

a) rent and services purchased from Roozen Flowerbulb Group BV £25,000 ( 2022 - £25,000 )
b) purchases of goods and services from M Thoolen BV £ 760,551 ( 2022 - £784,417 )

The company also incurred costs on behalf of M Thoolen BV of £11,933 ( 2022 - £18,624 )

The above transactions were on normal commercial terms.

At the year end date the amounts due to and from other group companies are as disclosed in notes 6 and 7 to the financial statements.

10. Ultimate controlling party

The company is 100% owned by Roozen Flowerbulb Group BV, a company incorporated in the Netherlands. A copy of its financial statements may be obtained from the company's registered office at Hofgeestereinde 22, 1991 AX Velserbroek, The Netherlands.

The company is ultimately controlled by Mr W L N Roozen, a director of both the company and Roozen Flowerbulb Group BV.