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Registered number: 12874890










FREDDIE'S FLOWERS BONDCO PLC










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023
 


 
FREDDIE'S FLOWERS BONDCO PLC
 

COMPANY INFORMATION


Directors
K R Abel 
E A I Bell 
F Garland 




Company secretary
E A I Bell



Registered number
12874890



Registered office
23-34 Ingate Place
London

SW8 3NS




Independent auditor
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor

2 Chawley Park

Cumnor Hill

Oxford

Oxfordshire

OX2 9GG





 
FREDDIE'S FLOWERS BONDCO PLC
 

CONTENTS



Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 16


 
FREDDIE'S FLOWERS BONDCO PLC
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2023

Introduction
 
Freddie’s Flowers Bondco Plc was incorporated on 13 September 2020.  The sole purpose of Freddie’s Flowers Bondco Plc is to be the corporate vehicle that holds the Freddie's Flowers Bond.
The Directors are pleased to present their Strategic Report and audited financial statements for the period ended 31 August 2023. As permitted by the Companies Act 2006, the financial statements have been prepared up to 3 September 2023.

Business review
 
In December 2020, Freddie’s Flowers issued a Flower Bond, raising £4,350,000 with an initial four-year term, where subscribers were able to choose to invest in the Flower Box Bond, the Cash Bond or a combination of the two. In return, investors receive a fixed rate of interest, either in flower boxes or in cash. 
This interest is funded through Freddie’s Flowers Bondco Plc's Parent Company, Freddie’s Flowers Limited.

Principal risks and uncertainties
 
The Directors are aware of a number of risks the company faces in the market in which it operates. The Directors, with the support of management, have implemented policies and procedures to eliminate or mitigate these risks.
The most significant risks and uncertainties affecting the Company are considered below.
Liquidity and cash flow risk
The Company is exposed to liquidity risk to fund its interest payments to Bondholders over the term of the bond. Interest payments are funded by its Parent Company, Freddie’s Flowers Ltd, which is the operating company in the UK. This risk is managed by undertaking detailed cash flow forecasting to monitor the Parent Company’s working capital requirements to ensure that sufficient cash resources are available to meet the Company’s obligations as they fall due.
Interest rate
The Company's borrowings bear interest at a fixed rate, reducing its exposure to interest rate risk. The Company monitors the liquidity and cash flow of its Parent Company to meet the capital and interest repayments of its borrowings.

Financial key performance indicators
 
The Company’s key financial performance indicator is its ability to make interest payments as they fall due. The Directors monitor the Company’s key performance indicator on a regular basis in order to assess the ongoing financial performance.

Page 1

 
FREDDIE'S FLOWERS BONDCO PLC
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023

Non financial key performance indicators
 
Management of the Company actively monitors a number of non-financial key performance indicators in relation to flower quality, delivery quality and customer service performance in relation to the product that is delivered to our Bondholders who have opted to have their bold yield paid in product rather than cash yield.
Section 172(1) statement and statement of engagement 
In accordance with the Companies Act 2006 (the Act) (as amended by the Companies (Miscellaneous Reporting) Regulations 2018), the directors must describe how they have had regard to the matters set out in section 172(1) of the Act, when performing their duty to promote the success of the Company. Each of the directors is mindful of their duties under section 172 of the Act to run the Company for the benefit of its shareholders, and in doing so, to take into account the long term impact of any decisions on stakeholder relationships and the impact of its activities on its reputation. The directors have identified the Company’s key stakeholders as its parent company and its bondholders. Building positive relations with these stakeholders, treating them well and with respect is essential to the success of the business. 
Shareholders
Freddie’s Flowers Bondco Plc is a wholly owned subsidiary of Freddie’s Flowers Limited. There is close engagement between the Group board, key management personnel and investors to deliver the strategic objectives of the Group. Freddie’s Flowers Bondco Plc provides its parent company, Freddie’s Flowers Limited, with funding.
  
Bondholders
Freddie's Flowers Bondco Plc issued its Flower Bond in order to help support Freddie's Flowers Ltd with funding to accelerate its growth. In exchange, the bondholders receive an attractive rate of return i.e. a fixed rate of interest, either in flower boxes or in cash. 
The Company aims to pay its bondholders in accordance with the terms of the Flower Bond. 
The directors have not identified any other key stakeholders given the straightforward nature of the Company.  


This report was approved by the board and signed on its behalf.



................................................
E A I Bell
Director
Date: 1 December 2023

Page 2

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2023

The directors present their report and the financial statements for the year ended 31 August 2023.

Directors

The directors who served during the year were:

K R Abel 
E A I Bell 
F Garland 

Results and dividends

The profit for the year, after taxation, amounted to £72,726 (2022 - £43,168).

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Page 3

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023

Auditor

The auditor, James Cowper Kreston Auditwill be proposed for reappointment in accordance with section 489 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 



................................................
E A I Bell
Director
Date: 1 December 2023

Page 4

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FREDDIE'S FLOWERS BONDCO PLC
 

Opinion


We have audited the financial statements of Freddie's Flowers Bondco Plc (the 'Company') for the year ended 31 August 2023, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 August 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 5

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FREDDIE'S FLOWERS BONDCO PLC (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FREDDIE'S FLOWERS BONDCO PLC (CONTINUED)


Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 
 
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 
 
The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

Enquiry of management and those charged with governance around actual and potential litigation and claims;  
Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations; 
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; 
Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.


Page 7

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FREDDIE'S FLOWERS BONDCO PLC (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





James Pitt BA BFP FCA (Senior Statutory Auditor)
  
for and on behalf of
James Cowper Kreston Audit
 
Chartered Accountants and Statutory Auditor
  
2 Chawley Park
Cumnor Hill
Oxford
Oxfordshire
OX2 9GG

1 December 2023
Page 8

 
FREDDIE'S FLOWERS BONDCO PLC
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2023

2023
2022
Note
 £
£

  

Administrative expenses
  
-
(6,975)

Operating profit/(loss)
  
-
(6,975)

Interest receivable and similar income
 6 
317,488
323,081

Interest payable and similar expenses
 7 
(244,762)
(272,938)

Profit before tax
  
72,726
43,168

Tax on profit
 8 
-
-

Profit for the financial year
  
72,726
43,168

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 12 to 16 form part of these financial statements.

Page 9

 
FREDDIE'S FLOWERS BONDCO PLC
REGISTERED NUMBER: 12874890

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 9 
4,423,648
4,378,660

  
4,423,648
4,378,660

Creditors: amounts falling due within one year
 10 
-
(27,738)

Net current assets
  
 
 
4,423,648
 
 
4,350,922

Total assets less current liabilities
  
4,423,648
4,350,922

Creditors: amounts falling due after more than one year
 11 
(4,262,108)
(4,262,108)

  

Net assets
  
161,540
88,814


Capital and reserves
  

Called up share capital 
 12 
50,000
50,000

Profit and loss account
 13 
111,540
38,814

  
161,540
88,814


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
E A I Bell
Director
Date: 1 December 2023

The notes on pages 12 to 16 form part of these financial statements.

Page 10

 
FREDDIE'S FLOWERS BONDCO PLC
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2021
50,000
(4,354)
45,646



Profit for the year
-
43,168
43,168



At 1 September 2022
50,000
38,814
88,814



Profit for the year
-
72,726
72,726


At 31 August 2023
50,000
111,540
161,540


The notes on pages 12 to 16 form part of these financial statements.

Page 11

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Freddie's Flowers Bondco Plc is a public limited company limited by its shares and incorporated in England and Wales. Its registered office is 23-34 Ingate Place, London, SW8 3NS.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Freddie's Flowers Limited as at 31 August 2023 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

 
2.3

Going concern

The company is reliant on the financial support of its parent, Freddie's Flowers Limited. The Directors of Freddie's Flowers Limited have confirmed that financial support will be provided for a period of at least 12 months from the financial statements were signed.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt based on the expected annual economic outflow to bond holder. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. 

Page 12

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

  
2.6

Debtors

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.

 
2.7

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.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 13

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Management has applied the following significant judgments or estimates in preparation of these financial statements.
Current and deferred taxation
The Company establishes provisions based on reasonable estimates. The amount of such provisions is based on various factors, such as experience with previous tax submissions. Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.
Recoverability of amounts owed by group undertakings
The Company considers amounts owed by group undertakings annually and estimates the provision for bad debts. In determining this, assumptions and estimates are made in relation to the likelihood of monies being recovered based on the plans of the Group.


4.


Auditor's remuneration


The audititor's remuneration is borne by the parent company, Freddie's Flowers Limited. Total remuneration for the current year is £8,400 (2022: £7,100).


5.


Employees




No remuneration was paid by the company to its employees in the year.

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3


6.


Interest receivable

2023
2022
£
£


Interest receivable from group companies
317,488
323,081

317,488
323,081

Page 14

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Interest payable and similar expenses

2023
2022
£
£


Bond holder interest
244,762
272,938

244,762
272,938


8.


Taxation


2023
2022
£
£



Current tax on profits for the year
-
-

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - lower than) the standard rate of corporation tax in the UK of 25% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
72,726
43,168


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2022 - 19%)
18,182
8,202

Effects of:


Group relief surrendered
(18,182)
(8,202)

Total tax charge for the year
-
-


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


9.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
4,423,648
4,378,660

4,423,648
4,378,660


Included within debtors are amounts owed by group undertakings which represent amounts owed to the parent company, Freddie's Flowers Limited. Interest is being charged at 7.5% per annum.

Page 15

 
FREDDIE'S FLOWERS BONDCO PLC
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
-
27,738

-
27,738



11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bonds
4,262,108
4,262,108

4,262,108
4,262,108


Bond holder funds are unsecured, accrue interest at 5% per annum in cash or 7.5% per annum in flower boxes and all current bonds are redeemable from 2 December 2024 at the option of the bond holder after an initial four year term. 


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



12,500 (2022 - 12,500) Ordinary shares of £1.00 each
12,500
12,500

Allotted, called up and partly paid



37,500 (2022 - 37,500) Ordinary shares of £1.00 each
37,500
37,500



13.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated profits/losses.


14.


Controlling party

The ultimate controlling party is Freddie's Flowers Limited by virtue of their shareholding in the immediate and ultimate parent company, Freddie's Flowers Limited, a company registered in England and Wales. Freddie's Flowers Limited prepares consolidated financial statements and these are available from Companies House, Crown Way, Cardiff, CF14 3UZ.


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