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Registration number: 07662656

Weddings & Flowercraft Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Weddings & Flowercraft Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Weddings & Flowercraft Limited

Registration number: 07662656

Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

102

119

Tangible assets

6

2,294

3,059

 

2,396

3,178

Current assets

 

Stocks

7

275,000

220,000

Debtors

8

41,720

48,794

Cash at bank and in hand

 

3,966

55,685

 

320,686

324,479

Creditors: Amounts falling due within one year

9

(317,834)

(296,276)

Net current assets

 

2,852

28,203

Total assets less current liabilities

 

5,248

31,381

Creditors: Amounts falling due after more than one year

9

(20,718)

(30,465)

Provisions for liabilities

(326)

(435)

Net (liabilities)/assets

 

(15,796)

481

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

(15,896)

381

Shareholders' (deficit)/funds

 

(15,796)

481



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Weddings & Flowercraft Limited

Registration number: 07662656

Balance Sheet as at 30 June 2023 (continued)

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 


C P Woods
Director

 

Weddings & Flowercraft 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 England and Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
Mountcalm
3a Bacton Road
Felixstowe
Suffolk
IP11 7PZ
England

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

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

Going concern

The continuation of the company's activities is dependent on the continued financial support of its director. The financial statements have been prepared on a going concern basis on the understanding that the director's financial support will continue.

 

Weddings & Flowercraft Limited

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

2

Accounting policies (continued)

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 current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Weddings & Flowercraft Limited

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

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

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

Asset class

Amortisation method and rate

Trademark

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Weddings & Flowercraft Limited

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

2

Accounting policies (continued)

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 directors) during the year, was 3 (2022 - 3).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

765

1,020

Amortisation expense

17

17

 

Weddings & Flowercraft Limited

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

5

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2022

170

170

At 30 June 2023

170

170

Amortisation

At 1 July 2022

51

51

Amortisation charge

17

17

At 30 June 2023

68

68

Carrying amount

At 30 June 2023

102

102

At 30 June 2022

119

119

 

Weddings & Flowercraft Limited

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

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

11,498

11,498

At 30 June 2023

11,498

11,498

Depreciation

At 1 July 2022

8,439

8,439

Charge for the year

765

765

At 30 June 2023

9,204

9,204

Carrying amount

At 30 June 2023

2,294

2,294

At 30 June 2022

3,059

3,059

7

Stocks

2023
£

2022
£

Other inventories

275,000

220,000

 

Weddings & Flowercraft Limited

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

8

Debtors

Current

2023
£

2022
£

Trade debtors

37,569

46,030

Prepayments

2,611

2,612

Other debtors

1,540

152

 

41,720

48,794

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10,000

10,000

Trade creditors

 

27,153

29,643

Directors' loan accounts

12

273,008

227,608

Taxation and social security

 

7,634

28,948

Other creditors

 

39

77

 

317,834

296,276

Due after one year

 

Loans and borrowings

20,718

30,465

 

Weddings & Flowercraft Limited

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

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

60

60

60

60

Ordinary B shares of £1 each

13

13

13

13

Ordinary C shares of £1 each

12

12

12

12

Ordinary D shares of £1 each

15

15

15

15

 

100

100

100

100

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2022 - £91,549).

 

Weddings & Flowercraft Limited

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

12

Related party transactions

Summary of transactions with parent

The company is a subsidiary of W12 Superhoop Ltd which is a company registered in England and Wales. Consolidated accounts are not prepared under the small companies exemption.

 

Expenditure with and payables to related parties

2023

Parent
£

Purchase of goods and services

31,860

2022

Parent
£

Purchase of goods and services

30,960