Iver Flowerland Limited 01794615 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the wholesale of flowers and plants. Digita Accounts Production Advanced 6.30.9574.0 true true 01794615 2023-01-01 2023-12-31 01794615 2023-12-31 01794615 core:CurrentFinancialInstruments 2023-12-31 01794615 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01794615 core:FurnitureFittingsToolsEquipment 2023-12-31 01794615 core:LandBuildings 2023-12-31 01794615 core:MotorVehicles 2023-12-31 01794615 core:OtherPropertyPlantEquipment 2023-12-31 01794615 bus:SmallEntities 2023-01-01 2023-12-31 01794615 bus:Audited 2023-01-01 2023-12-31 01794615 bus:FilletedAccounts 2023-01-01 2023-12-31 01794615 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01794615 bus:RegisteredOffice 2023-01-01 2023-12-31 01794615 bus:Director2 2023-01-01 2023-12-31 01794615 bus:Director3 2023-01-01 2023-12-31 01794615 bus:Director4 2023-01-01 2023-12-31 01794615 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01794615 core:FurnitureFittings 2023-01-01 2023-12-31 01794615 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01794615 core:LandBuildings 2023-01-01 2023-12-31 01794615 core:MotorVehicles 2023-01-01 2023-12-31 01794615 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01794615 core:PlantMachinery 2023-01-01 2023-12-31 01794615 core:Vehicles 2023-01-01 2023-12-31 01794615 1 2023-01-01 2023-12-31 01794615 countries:EnglandWales 2023-01-01 2023-12-31 01794615 2022-12-31 01794615 core:FurnitureFittingsToolsEquipment 2022-12-31 01794615 core:LandBuildings 2022-12-31 01794615 core:MotorVehicles 2022-12-31 01794615 core:OtherPropertyPlantEquipment 2022-12-31 01794615 2022-01-01 2022-12-31 01794615 2022-12-31 01794615 core:CurrentFinancialInstruments 2022-12-31 01794615 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01794615 core:FurnitureFittingsToolsEquipment 2022-12-31 01794615 core:LandBuildings 2022-12-31 01794615 core:MotorVehicles 2022-12-31 01794615 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 01794615

Iver Flowerland Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Iver Flowerland Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Iver Flowerland Limited

Company Information

Directors

H D Evans

M T Evans

B A K Eyre

Registered office

Bourne End Garden Centre
Hedsor Road
Bourne End
Buckinghamshire
SL8 5EE

Auditors

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Iver Flowerland Limited

(Registration number: 01794615)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,526,724

1,439,077

Current assets

 

Stocks

156,875

138,365

Debtors

5

11,664

12,692

Cash at bank and in hand

 

88

88

 

168,627

151,145

Creditors: Amounts falling due within one year

6

(276,126)

(185,956)

Net current liabilities

 

(107,499)

(34,811)

Total assets less current liabilities

 

1,419,225

1,404,266

Provisions for liabilities - deferred taxation

(80,553)

(62,495)

Net assets

 

1,338,672

1,341,771

Capital and reserves

 

Called up share capital

312,360

312,360

Retained earnings

1,026,312

1,029,411

Shareholders' funds

 

1,338,672

1,341,771

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................
B A K Eyre
Director

 

Iver Flowerland Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, company number 01794615.

The address of its registered office is:
Bourne End Garden Centre
Hedsor Road
Bourne End
Buckinghamshire
SL8 5EE

These financial statements were authorised for issue by the Board on 27 August 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.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 27 August 2024 was Gino Paolo Amasanti FCCA, who signed for and on behalf of Sterling Grove Accountants Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when te amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Iver Flowerland Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Freehold property

2% on cost

Plant and machinery

10% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

20% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

 

Iver Flowerland Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 year, was 9 (2022 - 8).

 

Iver Flowerland Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

1,411,114

105,834

143,146

1,158,610

2,818,704

Additions

47,822

94,632

-

13,224

155,678

At 31 December 2023

1,458,936

200,466

143,146

1,171,834

2,974,382

Depreciation

At 1 January 2023

317,839

40,727

142,251

878,810

1,379,627

Charge for the year

14,589

23,961

179

29,302

68,031

At 31 December 2023

332,428

64,688

142,430

908,112

1,447,658

Carrying amount

At 31 December 2023

1,126,508

135,778

716

263,722

1,526,724

At 31 December 2022

1,093,275

65,107

895

279,800

1,439,077

The directors estimate that 50% of the value of freehold land and buildings shown above relates to land. The proportion that relates to land has been excluded from the depreciation computations.

 

Iver Flowerland Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

2,309

-

Prepayments

9,355

12,692

 

11,664

12,692

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

76,650

30,854

Amounts owed to group undertakings

170,568

137,303

Taxation and social security

 

7,083

6,432

Accruals and deferred income

 

17,304

6,420

Other creditors

 

4,521

4,947

 

276,126

185,956

7

Financial commitments, guarantees and contingencies

Contingencies

The company's banking arrangements are done through the holding company bank accounts, as such the company's assets also secure any credit arrangements entered into by the holding company.

8

Parent and ultimate parent undertaking

The company's immediate and ultimate parent is B.E.Enterprises Limited, which prepares group financial statements.

These financial statements are available upon request from the registered office of B.E. Enterprises Limited at Hedsor Road, Bourne End, Bucks, SL8 5EE.