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Company No: 01478575 (England and Wales)

K & B FLETCHER LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

K & B FLETCHER LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

K & B FLETCHER LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
K & B FLETCHER LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR Mrs S Lynes
SECRETARY Mrs S Lynes
REGISTERED OFFICE Yew Tree Farm Hatt Common
East Woodhay
Newbury
RG20 0NG
England
United Kingdom
COMPANY NUMBER 01478575 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
K & B FLETCHER LIMITED

BALANCE SHEET

As at 31 July 2023
K & B FLETCHER LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 441,071 414,471
441,071 414,471
Current assets
Debtors 4 19,641 42,057
Cash at bank and in hand 36,227 31,883
55,868 73,940
Creditors: amounts falling due within one year 5 ( 38,961) ( 65,851)
Net current assets 16,907 8,089
Total assets less current liabilities 457,978 422,560
Provision for liabilities ( 5,261) 0
Net assets 452,717 422,560
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 452,617 422,460
Total shareholder's funds 452,717 422,560

For the financial year ending 31 July 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 financial statements of K & B Fletcher Limited (registered number: 01478575) were approved and authorised for issue by the Director on 04 April 2024. They were signed on its behalf by:

Mrs S Lynes
Director
K & B FLETCHER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
K & B FLETCHER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

K & B Fletcher Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Yew Tree Farm, Hatt Common, East Woodhay, Newbury, RG20 0NG.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

No depreciation is provided on land and buildings. See "critical estimates" below for further details.

Land and buildings not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Critical accounting judgements and key sources of estimation uncertainity

In applying the company’s accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgements and estimates that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

No depreciation is provided on land and buildings, as the directors consider that the useful economic life of the company's properties is such that depreciation would be immaterial. The company has a policy and practice of regular maintenance and repair (charges for which are recognised in the profit and loss account such that these assets are kept to their previously assessed standard of performance, and the properties are unlikely to suffer from economic or technological obsolescence. The properties are reviewed for impairment each year.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 August 2022 387,616 48,862 21,290 457,768
Additions 25,765 5,500 5,250 36,515
Disposals 0 0 ( 12,000) ( 12,000)
At 31 July 2023 413,381 54,362 14,540 482,283
Accumulated depreciation
At 01 August 2022 0 29,656 13,641 43,297
Charge for the financial year 0 6,178 3,055 9,233
Disposals 0 0 ( 11,318) ( 11,318)
At 31 July 2023 0 35,834 5,378 41,212
Net book value
At 31 July 2023 413,381 18,528 9,162 441,071
At 31 July 2022 387,616 19,206 7,649 414,471

4. Debtors

2023 2022
£ £
Trade debtors 11,818 6,730
Deferred tax asset 0 562
VAT recoverable 0 5,783
Corporation tax 2,441 3,715
Other debtors 5,382 25,267
19,641 42,057

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,609 41,312
Amounts owed to director 5,739 5,677
Accruals 1,400 1,300
Other taxation and social security 2,420 0
Other creditors 27,793 17,562
38,961 65,851

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Other related party transactions

2023 2022
£ £
At the balance sheet date the amount due to associated companies totalled 27,381 17,562