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Registration number: 05346472

Mystique Flowers Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Mystique Flowers Ltd

Contents

Company Information

1

Statement of Director's Responsibilities

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Mystique Flowers Ltd

Company Information

Director

Mr M Naji

Registered office

57A Fulham High Street
London
SW6 3JJ

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Mystique Flowers Ltd

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Mystique Flowers Ltd

(Registration number: 05346472)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,404

2,488

Current assets

 

Debtors

5

334,150

171,991

Cash at bank and in hand

 

18,147

148,671

 

352,297

320,662

Creditors: Amounts falling due within one year

6

(142,217)

(123,960)

Net current assets

 

210,080

196,702

Total assets less current liabilities

 

211,484

199,190

Creditors: Amounts falling due after more than one year

6

(10,833)

(20,000)

Net assets

 

200,651

179,190

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

200,551

179,090

Shareholders' funds

 

200,651

179,190

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the director on 6 September 2024
 

.........................................
Mr M Naji
Director

 

Mystique Flowers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
57A Fulham High Street
London
SW6 3JJ
England

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.

Going concern

The financial statements have been prepared on a going concern basis.
Taking into account a period exceeding 12 months from the date of approval of these accounts the Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for this reason will continue to adopt the going concern basis in the preparation of the financial statements.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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 the 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.

Tax

The tax expense for the period comprises current 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.

 

Mystique Flowers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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

Furniture and fittngs

25% Straight line

Office equipment

25% Straight line

Motor vehicles

25% 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.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Mystique Flowers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables,cash and bank balances, trade and other creditors.

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 cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Mystique Flowers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

5,085

47,607

52,692

At 30 April 2024

5,085

47,607

52,692

Depreciation

At 1 May 2023

2,597

47,607

50,204

Charge for the year

1,084

-

1,084

At 30 April 2024

3,681

47,607

51,288

Carrying amount

At 30 April 2024

1,404

-

1,404

At 30 April 2023

2,488

-

2,488

5

Debtors

Current

2024
£

2023
£

Trade debtors

80,582

65,261

Other debtors

253,568

106,730

 

334,150

171,991

 

Mystique Flowers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Trade creditors

 

16,605

34,287

Taxation and social security

 

113,430

69,650

Accruals and deferred income

 

1,100

1,100

Other creditors

 

1,082

8,923

 

142,217

123,960

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

10,833

20,000

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,833

20,000

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

 

Mystique Flowers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Related party transactions

Included in other creditors is an amount owed by the Director of £146,837 (2023 owed to the Director £ 3,719).