Registered number
05091044
Cherubs Floral Design Ltd
Filleted Accounts
31 March 2023
Cherubs Floral Design Ltd
Registered number: 05091044
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,649 21,928
Current assets
Stocks 30,211 30,062
Debtors 4 22,136 101,114
Cash at bank and in hand 48,999 40,083
101,346 171,259
Creditors: amounts falling due within one year 5 (96,039) (174,268)
Net current assets/(liabilities) 5,307 (3,009)
Net assets 23,956 18,919
Capital and reserves
Called up share capital 2 2
Profit and loss account 23,954 18,917
Shareholders' funds 23,956 18,919
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J BARTON
Director
Approved by the board on 15 April 2024
Cherubs Floral Design Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 369 130,347 28,272 158,988
Additions - - 2,936 2,936
At 31 March 2023 369 130,347 31,208 161,924
Depreciation
At 1 April 2022 369 119,049 17,642 137,060
Charge for the year - 2,824 3,391 6,215
At 31 March 2023 369 121,873 21,033 143,275
Net book value
At 31 March 2023 - 8,474 10,175 18,649
At 31 March 2022 - 11,298 10,630 21,928
4 Debtors 2023 2022
£ £
Trade debtors 21,534 100,512
Other debtors 602 602
22,136 101,114
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 40,994 48,804
Trade creditors 2,130 22,160
Taxation and social security costs 36,433 99,263
Other creditors 16,482 4,041
96,039 174,268
6 Other information
Cherubs Floral Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8 Cantay House, Ardler Road, Reading RG4 5AE
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