Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activity2022-07-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09678214 2022-07-01 2023-06-30 09678214 2021-07-01 2022-06-30 09678214 2023-06-30 09678214 2022-06-30 09678214 c:Director1 2022-07-01 2023-06-30 09678214 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 09678214 d:Buildings d:LongLeaseholdAssets 2023-06-30 09678214 d:Buildings d:LongLeaseholdAssets 2022-06-30 09678214 d:LandBuildings 2023-06-30 09678214 d:LandBuildings 2022-06-30 09678214 d:PlantMachinery 2022-07-01 2023-06-30 09678214 d:PlantMachinery 2023-06-30 09678214 d:PlantMachinery 2022-06-30 09678214 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09678214 d:MotorVehicles 2022-07-01 2023-06-30 09678214 d:MotorVehicles 2023-06-30 09678214 d:MotorVehicles 2022-06-30 09678214 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09678214 d:FurnitureFittings 2022-07-01 2023-06-30 09678214 d:FurnitureFittings 2023-06-30 09678214 d:FurnitureFittings 2022-06-30 09678214 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09678214 d:OfficeEquipment 2022-07-01 2023-06-30 09678214 d:OfficeEquipment 2023-06-30 09678214 d:OfficeEquipment 2022-06-30 09678214 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09678214 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09678214 d:CurrentFinancialInstruments 2023-06-30 09678214 d:CurrentFinancialInstruments 2022-06-30 09678214 d:Non-currentFinancialInstruments 2023-06-30 09678214 d:Non-currentFinancialInstruments 2022-06-30 09678214 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 09678214 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 09678214 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 09678214 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 09678214 d:ShareCapital 2023-06-30 09678214 d:ShareCapital 2022-06-30 09678214 d:RetainedEarningsAccumulatedLosses 2023-06-30 09678214 d:RetainedEarningsAccumulatedLosses 2022-06-30 09678214 c:OrdinaryShareClass1 2022-07-01 2023-06-30 09678214 c:OrdinaryShareClass1 2023-06-30 09678214 c:OrdinaryShareClass1 2022-06-30 09678214 c:FRS102 2022-07-01 2023-06-30 09678214 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 09678214 c:FullAccounts 2022-07-01 2023-06-30 09678214 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09678214 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 09678214 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 09678214 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 09678214 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09678214










FLOYDS TURFCARE & WEED SOLUTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
REGISTERED NUMBER: 09678214

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
128,683
74,539

  
128,683
74,539

Current assets
  

Stocks
  
9,825
25,001

Debtors: amounts falling due within one year
 5 
230,030
155,400

Cash at bank and in hand
  
278,349
293,065

  
518,204
473,466

Creditors: amounts falling due within one year
 6 
(200,484)
(132,426)

Net current assets
  
 
 
317,720
 
 
341,040

Total assets less current liabilities
  
446,403
415,579

Creditors: amounts falling due after more than one year
 7 
(83,281)
(31,785)

Provisions for liabilities
  

Deferred tax
  
(24,450)
(14,162)

  
 
 
(24,450)
 
 
(14,162)

Net assets
  
338,672
369,632


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
338,572
369,532

  
338,672
369,632


Page 1

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
REGISTERED NUMBER: 09678214
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Hayley Floyd
Director

Date: 28 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Floyd Turfcare & Weed Solutions Limited (09678214), is a private limited company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 1 Birtletons, Upton Bishop, Ross-on-Wye, Herefordshire, HR9 7UF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
5%
Straight-line
Plant and machinery
-
15%
Straight-line
Motor vehicles
-
25%
Straight-line
Fixtures and fittings
-
33%
Straight-line
Office equipment
-
33%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 July 2022
6,710
76,079
57,920
393
3,664
144,766


Additions
-
-
80,976
-
-
80,976



At 30 June 2023

6,710
76,079
138,896
393
3,664
225,742



Depreciation


At 1 July 2022
2,013
36,720
27,753
325
3,417
70,228


Charge for the year on owned assets
336
10,104
16,167
58
166
26,831



At 30 June 2023

2,349
46,824
43,920
383
3,583
97,059



Net book value



At 30 June 2023
4,361
29,255
94,976
10
81
128,683



At 30 June 2022
4,697
39,359
30,167
68
248
74,539




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
4,362
4,697

4,362
4,697


Page 7

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Debtors

2023
2022
£
£


Trade debtors
198,623
144,994

Amounts owed by group undertakings
31,407
-

Other debtors
-
3,407

Prepayments and accrued income
-
6,999

230,030
155,400



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
102,707
64,612

Corporation tax
58,592
39,599

Other taxation and social security
28,527
18,068

Obligations under finance lease and hire purchase contracts
9,558
8,547

Accruals and deferred income
1,100
1,600

200,484
132,426



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
83,281
31,785

83,281
31,785


Page 8

 
FLOYDS TURFCARE & WEED SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Hire purchase and finance leases


2023
2022
£
£


Within one year
9,558
8,547

Between 1-5 years
83,281
31,785

92,839
40,332


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary Shares shares of £1.00 each
100
100



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £120,000 (2022: £103,300). Contributions totalling £nil (2022: £nil) were payable to the fund at the balance sheet date and are included in creditors

 
Page 9