FLORA MOTORS (CORNWALL) LTD.

Company Registration Number:
03422654 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

FLORA MOTORS (CORNWALL) LTD.

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

FLORA MOTORS (CORNWALL) LTD.

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

W P Bosustow
C Bosustow


Secretary C Bosustow

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 August 2024

And signed on behalf of the board by:
Name: W P Bosustow
Status: Director

FLORA MOTORS (CORNWALL) LTD.

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 25,876,896 21,235,316
Cost of sales: ( 23,795,611 ) ( 18,977,384 )
Gross profit(or loss): 2,081,285 2,257,932
Distribution costs: ( 560,730 ) ( 461,498 )
Administrative expenses: ( 894,451 ) ( 786,363 )
Operating profit(or loss): 626,104 1,010,071
Interest receivable and similar income: 42,336 7,706
Interest payable and similar charges: ( 147,333 ) ( 97,003 )
Profit(or loss) before tax: 521,107 920,774
Tax: ( 132,523 ) ( 188,567 )
Profit(or loss) for the financial year: 388,584 732,207

FLORA MOTORS (CORNWALL) LTD.

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,715,244 1,662,321
Total fixed assets: 1,715,244 1,662,321
Current assets
Stocks: 4 2,721,245 2,759,687
Debtors: 5 877,468 275,453
Cash at bank and in hand: 1,813,691 1,558,024
Total current assets: 5,412,404 4,593,164
Creditors: amounts falling due within one year: 6 ( 3,362,909 ) ( 2,829,330 )
Net current assets (liabilities): 2,049,495 1,763,834
Total assets less current liabilities: 3,764,739 3,426,155
Provision for liabilities: ( 7,000 ) ( 7,000 )
Total net assets (liabilities): 3,757,739 3,419,155
Capital and reserves
Called up share capital: 250,000 250,000
Profit and loss account: 3,507,739 3,169,155
Total Shareholders' funds: 3,757,739 3,419,155

The notes form part of these financial statements

FLORA MOTORS (CORNWALL) LTD.

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 August 2024
and signed on behalf of the board by:

Name: W P Bosustow
Status: Director

The notes form part of these financial statements

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Land and buildings - not provided and straight line over 25 years Plant and machinery etc - 25% on reducing balance and straight line over 25 years

    Other accounting policies

    Stocks Taxation Deferred tax Pension costs and other post-retirement benefits

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 43 43

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 2,576,386 357,435 232,479 123,618 47,539 3,337,457
Additions 105,600 31,669 44,460 181,729
Disposals
Revaluations
Transfers
At 31 December 2023 2,681,986 389,104 276,939 123,618 47,539 3,519,186
Depreciation
At 1 January 2023 1,060,995 311,028 153,391 117,622 32,100 1,675,136
Charge for year 76,901 19,519 30,887 1,499 128,806
On disposals
Other adjustments
At 31 December 2023 1,137,896 330,547 184,278 119,121 32,100 1,803,942
Net book value
At 31 December 2023 1,544,090 58,557 92,661 4,497 15,439 1,715,244
At 31 December 2022 1,515,391 46,407 79,088 5,996 15,439 1,662,321

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Stocks

2023 2022
£ £
Stocks 2,721,245 2,759,687
Total 2,721,245 2,759,687

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 570,992 230,604
Other debtors 306,476 44,849
Total 877,468 275,453

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 247,596 368,552
Trade creditors 254,421 574,230
Taxation and social security 165,692 243,634
Other creditors 2,695,200 1,642,914
Total 3,362,909 2,829,330

FLORA MOTORS (CORNWALL) LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Loans to directors

Name of director receiving advance or credit: W P Bosustow
Description of the transaction:
Directors loan account
£
Balance at 31 December 2022 11,109
Advances or credits made:
Advances or credits repaid:
Balance at 31 December 2023 11,109