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REGISTERED NUMBER: 07990298 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Poppy's Funerals Ltd.

Poppy's Funerals Ltd. (Registered number: 07990298)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Poppy's Funerals Ltd.

Company Information
for the year ended 31 March 2024







DIRECTOR: Ms P Mardall





REGISTERED OFFICE: The Gatehouse Lambeth Cemetery
Blackshaw Road
London
SW17 0BY





REGISTERED NUMBER: 07990298 (England and Wales)





ACCOUNTANTS: Tayabali Tomlin
Chartered Accountants
Kenton House
Oxford Street
Moreton-in-Marsh
Gloucestershire
GL56 0LA

Poppy's Funerals Ltd. (Registered number: 07990298)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 121,125 85,047

CURRENT ASSETS
Stocks 11,142 11,142
Debtors 5 129,601 28,879
Cash at bank and in hand 421,874 547,421
562,617 587,442
CREDITORS
Amounts falling due within one year 6 163,847 100,895
NET CURRENT ASSETS 398,770 486,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

519,895

571,594

PROVISIONS FOR LIABILITIES - 14,576
NET ASSETS 519,895 557,018

Poppy's Funerals Ltd. (Registered number: 07990298)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 110 110
Other reserves 2,190 1,068
Retained earnings 517,595 555,840
519,895 557,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 July 2024 and were signed by:





Ms P Mardall - Director


Poppy's Funerals Ltd. (Registered number: 07990298)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Poppy's Funerals 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.

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 each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance and 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Poppy's Funerals Ltd. (Registered number: 07990298)

Notes to the Financial Statements - continued
for the year ended 31 March 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 balance sheet 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.

Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Poppy's Funerals Ltd. (Registered number: 07990298)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 8,800 165,394 7,686
Additions 18,838 7,674 7,719
At 31 March 2024 27,638 173,068 15,405
DEPRECIATION
At 1 April 2023 1,760 117,961 4,826
Charge for year 2,764 9,867 2,116
At 31 March 2024 4,524 127,828 6,942
NET BOOK VALUE
At 31 March 2024 23,114 45,240 8,463
At 31 March 2023 7,040 47,433 2,860

Poppy's Funerals Ltd. (Registered number: 07990298)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 71,699 26,398 279,977
Additions 33,325 5,094 72,650
At 31 March 2024 105,024 31,492 352,627
DEPRECIATION
At 1 April 2023 58,704 11,679 194,930
Charge for year 15,286 6,539 36,572
At 31 March 2024 73,990 18,218 231,502
NET BOOK VALUE
At 31 March 2024 31,034 13,274 121,125
At 31 March 2023 12,995 14,719 85,047

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 44,545 7,787
Other debtors 85,056 21,092
129,601 28,879

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 50,374 40,409
Taxation and social security 19,481 -
Other creditors 93,992 60,486
163,847 100,895

Poppy's Funerals Ltd. (Registered number: 07990298)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. SHARE-BASED PAYMENT TRANSACTIONS




Number of
Share Options


Weighted
average
exercise price

20242023
Number Number

Outstanding at 1 April121,694-

Options issued 5,000121,694

Options cancelled (1,000) -

Outstanding 31 March 125,694121,694
Exercisable at 31 March --


Inputs to the Black-Scholes model were as follows:

20242023
Weighted average share price0.120.12
Weighted average exercise price0.120.12
Expected volatility7575
Expected life1010
Risk free rate4.384.38
During the year, the company recognised a charge of £1,120 (2023: £1,068) which related to equity settled share based payment transactions.