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Registration number: 10220473

OM Flowers Ltd

Annual Report and Unaudited Financial Statements

For The Period from 1 July 2022 to 31 December 2023

 

OM Flowers Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

OM Flowers Ltd

(Registration number: 10220473)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Intangible assets

4

 

52,412

 

-

Tangible assets

5

 

9,557

 

7,618

Investments

6

 

76,836

 

70,915

   

138,805

 

78,533

Current assets

   

 

Stocks

7

50,601

 

9,194

 

Debtors

8

119,437

 

56,601

 

Cash at bank and in hand

 

89,352

 

122,218

 

 

259,390

 

188,013

 

Creditors: Amounts falling due within one year

9

(144,175)

 

(114,515)

 

Net current assets

   

115,215

 

73,498

Total assets less current liabilities

   

254,020

 

152,031

Creditors: Amounts falling due after more than one year

9

 

(16,351)

 

(33,045)

Provisions for liabilities

 

(1,174)

 

(1,447)

Net assets

   

236,495

 

117,539

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

236,395

 

117,439

 

Total equity

   

236,495

 

117,539

 

OM Flowers Ltd

(Registration number: 10220473)
Balance Sheet as at 31 December 2023

For the financial period ending 31 December 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 period 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

.........................................
Mr O.D. Mynard
Director

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Period from 1 July 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the Board on 19 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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

Office equipment

25% straight line

Motor vehicles

25% reducing balance

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Period from 1 July 2022 to 31 December 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Amortisation

20% Straight Line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Period from 1 July 2022 to 31 December 2023

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 period, was 7 (2022 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Acquired through business combinations

65,515

65,515

At 31 December 2023

65,515

65,515

Amortisation

Amortisation charge

13,103

13,103

At 31 December 2023

13,103

13,103

Carrying amount

At 31 December 2023

52,412

52,412

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

3,924

18,215

22,139

Additions

2,249

5,400

7,649

At 31 December 2023

6,173

23,615

29,788

Depreciation

At 1 July 2022

2,690

11,831

14,521

Charge for the period

1,291

4,419

5,710

At 31 December 2023

3,981

16,250

20,231

Carrying amount

At 31 December 2023

2,192

7,365

9,557

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Period from 1 July 2022 to 31 December 2023

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

At 30 June 2022

1,234

6,384

7,618

6

Investments

2023
£

2022
£

Investments in subsidiaries

76,836

70,915

Subsidiaries

£

Cost or valuation

At 1 July 2022

70,915

Additions

76,836

Disposals

(70,915)

At 31 December 2023

76,836

Provision

Carrying amount

At 31 December 2023

76,836

At 30 June 2022

70,915

7

Stocks

2023
£

2022
£

Other inventories

50,601

9,194

8

Debtors

Current

2023
£

2022
£

Trade debtors

65,625

52,052

Prepayments

1,954

4,549

Other debtors

51,858

-

 

119,437

56,601

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Period from 1 July 2022 to 31 December 2023

9

Creditors

2023
£

2022
£

Due within one year

Loans and borrowings

11,198

13,102

Trade creditors

4,424

15,872

Taxation and social security

72,858

44,967

Other creditors

55,695

40,574

144,175

114,515

Due after one year

Loans and borrowings

16,351

33,045

10

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 £30,667 (2022 - £Nil).