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REGISTERED NUMBER: 10474281 (England and Wales)















HERE WE FLO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






HERE WE FLO LTD (REGISTERED NUMBER: 10474281)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


HERE WE FLO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs S C Allen
Ms T Chandra
Sustainable Ethical Enterprises Limited



REGISTERED OFFICE: 9 Perseverance Works
Kingsland Road
London
E2 8DD



REGISTERED NUMBER: 10474281 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Santander
Bridle Road
Bootle
Merseyside
L30 4GB

HERE WE FLO LTD (REGISTERED NUMBER: 10474281)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,806 9,541

CURRENT ASSETS
Stocks 1,606,402 1,448,434
Debtors 5 1,372,919 767,695
Cash at bank 1,143,917 1,287,282
4,123,238 3,503,411
CREDITORS
Amounts falling due within one year 6 10,959,419 7,675,145
NET CURRENT LIABILITIES (6,836,181 ) (4,171,734 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,828,375 ) (4,162,193 )

CREDITORS
Amounts falling due after more than one year 7 3,054 8,276
NET LIABILITIES (6,831,429 ) (4,170,469 )

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings (6,831,439 ) (4,170,479 )
SHAREHOLDERS' FUNDS (6,831,429 ) (4,170,469 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





Mrs S C Allen - Director


HERE WE FLO LTD (REGISTERED NUMBER: 10474281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Here We Flo Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


HERE WE FLO LTD (REGISTERED NUMBER: 10474281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have assessed going concern and are satisfied that, given further investment and support received since the year end, the going concern basis is appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 19,796
Additions 4,087
At 29 February 2024 23,883
DEPRECIATION
At 1 March 2023 10,256
Charge for year 5,821
At 29 February 2024 16,077
NET BOOK VALUE
At 29 February 2024 7,806
At 28 February 2023 9,540

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 887,650 341,304
Other debtors 485,269 426,391
1,372,919 767,695

HERE WE FLO LTD (REGISTERED NUMBER: 10474281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 9,996
Trade creditors 328,984 363,840
Amounts owed to group undertakings 9,113,279 7,029,113
Taxation and social security 20,375 24,990
Other creditors 1,486,781 247,206
10,959,419 7,675,145

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 3,054 8,276

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 13,054 18,272

The bounceback loan is secured by the UK Government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
10 Ordinary £1 10 10

10. RELATED PARTY DISCLOSURES

During the year, the company received additional funding from its parent company, Sustainable Ethical Enterprises Limited, amounting to £2,084,166.

At the balance sheet, the company owed the parent company £9,113,279 (2023 £7,029,113).

The directors have provided the company with an interest free loan of £62,749 (2023 £62,749).