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Registered Number: NI683001
England and Wales

 

 

 

FLOWER MILL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Flower Mill Ltd for the year ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Flower Mill Ltd for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Flower Mill Ltd, as a body, in accordance with the terms of our engagement letter dated 01 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of Flower Mill Ltd and state those matters that we have agreed to state to the Board of Directors of Flower Mill Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flower Mill Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Flower Mill Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Flower Mill Ltd. You consider that Flower Mill Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Flower Mill Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 October 2023



....................................................
aa Chartered Accountants
Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
01 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 190,928    143,406 
190,928    143,406 
Current assets      
Debtors 130    216 
Cash at bank and in hand 5,734    1,147 
5,864    1,363 
Creditors: amount falling due within one year (181,354)   (171,708)
Net current liabilities (175,490)   (170,345)
 
Total assets less current liabilities 15,438    (26,939)
Provisions for liabilities (7,347)   (733)
Net assets 8,091    (27,672)
 

Capital and reserves
     
Called up share capital 4 2    2 
Reserves 5 38,665   
Profit and loss account (30,576)   (27,674)
Shareholder's funds 8,091    (27,672)
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 01 February 2024 and were signed on its behalf by:


-------------------------------
Saul Greenberg
Director
2
General Information
Flower Mill Ltd is a private company, limited by shares, registered in England and Wales, registration number NI683001, registration address 22 Larne Road, Carrickfergus, County Antrim, BT38 7DX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Investment properties   Total
  £   £   £   £
At 01 November 2022 4,822      139,547    144,369 
Additions 2,067    7,737    1,786    11,590 
Disposals      
Revaluations     38,665    38,665 
At 31 October 2023 6,889    7,737    179,998    194,624 
Depreciation
At 01 November 2022 964        964 
Charge for year 1,185    1,547      2,732 
On disposals      
At 31 October 2023 2,149    1,547      3,696 
Net book values
Closing balance as at 31 October 2023 4,740    6,190    179,998    190,928 
Opening balance as at 01 November 2022 3,858      139,548    143,406 


4.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

3