Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falsefalsetrueThe principal activities of the company during the year continued to be that of landscape service activities.9497true 03378810 2023-07-01 2024-06-30 03378810 2022-07-01 2023-06-30 03378810 2024-06-30 03378810 2023-06-30 03378810 2022-07-01 03378810 c:Director1 2023-07-01 2024-06-30 03378810 d:PlantMachinery 2023-07-01 2024-06-30 03378810 d:PlantMachinery 2024-06-30 03378810 d:PlantMachinery 2023-06-30 03378810 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03378810 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03378810 d:MotorVehicles 2023-07-01 2024-06-30 03378810 d:MotorVehicles 2024-06-30 03378810 d:MotorVehicles 2023-06-30 03378810 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03378810 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03378810 d:OfficeEquipment 2023-07-01 2024-06-30 03378810 d:OfficeEquipment 2024-06-30 03378810 d:OfficeEquipment 2023-06-30 03378810 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03378810 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03378810 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03378810 d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03378810 d:Goodwill 2024-06-30 03378810 d:Goodwill 2023-06-30 03378810 d:CurrentFinancialInstruments 2024-06-30 03378810 d:CurrentFinancialInstruments 2023-06-30 03378810 d:Non-currentFinancialInstruments 2024-06-30 03378810 d:Non-currentFinancialInstruments 2023-06-30 03378810 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03378810 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03378810 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03378810 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03378810 d:ShareCapital 2024-06-30 03378810 d:ShareCapital 2023-06-30 03378810 d:RetainedEarningsAccumulatedLosses 2024-06-30 03378810 d:RetainedEarningsAccumulatedLosses 2023-06-30 03378810 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 03378810 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 03378810 d:OtherDeferredTax 2024-06-30 03378810 d:OtherDeferredTax 2023-06-30 03378810 c:OrdinaryShareClass1 2023-07-01 2024-06-30 03378810 c:OrdinaryShareClass1 2024-06-30 03378810 c:FRS102 2023-07-01 2024-06-30 03378810 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03378810 c:FullAccounts 2023-07-01 2024-06-30 03378810 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03378810 d:Goodwill d:OwnedIntangibleAssets 2023-07-01 2024-06-30 03378810 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03378810









FLORA-TEC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
FLORA-TEC LIMITED
REGISTERED NUMBER: 03378810

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
20,993
27,213

Tangible assets
 5 
304,187
247,855

  
325,180
275,068

CURRENT ASSETS
  

Stocks
  
420,773
446,151

Debtors: amounts falling due within one year
 6 
1,490,113
1,407,280

Cash at bank and in hand
  
45,406
14,332

  
1,956,292
1,867,763

Creditors: amounts falling due within one year
 7 
(1,608,482)
(1,601,895)

NET CURRENT ASSETS
  
 
 
347,810
 
 
265,868

TOTAL ASSETS LESS CURRENT LIABILITIES
  
672,990
540,936

Creditors: amounts falling due after more than one year
 8 
(123,872)
(126,381)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(71,760)
(60,068)

  
 
 
(71,760)
 
 
(60,068)

NET ASSETS
  
477,358
354,487


CAPITAL AND RESERVES
  

Called up share capital 
 10 
1,000
1,000

Profit and loss account
  
476,358
353,487

  
477,358
354,487


Page 1

 
FLORA-TEC LIMITED
REGISTERED NUMBER: 03378810
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A M Bradley
Director

Date: 12 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Flora-Tec Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Unit 1 Unwins Farms, Cottenham Road Farm, Histon, Cambridge, CB24 9ES.
The Company's funtional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Turnover relating to service contracts is recognised when the service is carried out with any income received in advance deferred and recognised in line with the percentage completion of the contract.
Turnover relating to rentals is recognised when the income falls due in line with the contract.

 
2.3

INTANGIBLE ASSETS

GOODWILL
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance or straight line over lifetime of the lease
Motor vehicles
-
25%
straight line
Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of income.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

CURRENT AND DEFERRED TAXATION

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 94 (2023 - 97).

Page 5

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 July 2023
465,099



At 30 June 2024

465,099



AMORTISATION


At 1 July 2023
437,886


Charge for the year on owned assets
6,220



At 30 June 2024

444,106



NET BOOK VALUE



At 30 June 2024
20,993



At 30 June 2023
27,213



Page 6

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 July 2023
1,308,553
242,913
166,672
1,718,138


Additions
126,001
1,005
1,094
128,100


Disposals
(64,348)
(23,044)
-
(87,392)



At 30 June 2024

1,370,206
220,874
167,766
1,758,846



DEPRECIATION


At 1 July 2023
1,128,167
206,311
135,805
1,470,283


Charge for the year on owned assets
32,134
9,654
4,744
46,532


Charge for the year on financed assets
12,273
-
-
12,273


Disposals
(64,348)
(10,081)
-
(74,429)



At 30 June 2024

1,108,226
205,884
140,549
1,454,659



NET BOOK VALUE



At 30 June 2024
261,980
14,990
27,217
304,187



At 30 June 2023
180,386
36,602
30,867
247,855


6.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
1,311,738
1,239,962

Other debtors
124,340
107,682

Prepayments and accrued income
54,035
59,636

1,490,113
1,407,280


Page 7

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
587,171
534,670

Trade creditors
651,703
830,779

Corporation tax
45,756
-

Other taxation and social security
140,826
138,644

Obligations under finance lease and hire purchase contracts
37,568
-

Other creditors
14,356
14,067

Accruals and deferred income
131,102
83,735

1,608,482
1,601,895


Included within other creditors are amounts due to defined contribution pension schemes of £11,927 (2023 - £12,098).
Included within bank loans are:
- A Government backed 'bounce back' loan which was drawn down in September 2020. This loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest is charged at 2.5% per annum. The first instalment was paid in October 2021.
- A Government backed 'Coronavirus Business Interuption Scheme' loan which was drawn down in November 2020, This loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest is charged at 10.1% per annum. The first instalment was paid in December 2021.
- An invoice financing facility, on which the company can drawn down 75% of its invoiced sales in advance. The funding period is 90 days from the end of the month of the invoice. The discount margin rate is 3%. 
Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

Page 8

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
42,842
122,267

Obligations under finance leases and hire purchase contracts
62,916
-

Other creditors
18,114
4,114

123,872
126,381


Included within bank loans are:
- A Government backed 'bounce back' loan which was drawn down in September 2020. This loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest is charged at 2.5% per annum. The first instalment was paid in October 2021.
- A Government backed 'Coronavirus Business Interuption Scheme' loan which was drawn down in November 2020, This loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest is charged at 10.1% per annum. The first instalment was paid in December 2021.
Obligations under finance leases and hire purchase contracts are secured on the assets concerned


9.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
60,068
47,319


Charged to profit or loss
11,692
12,749



AT END OF YEAR
71,760
60,068

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
75,514
61,405

Other short term timing differences
(3,754)
(1,337)

71,760
60,068

Page 9

 
FLORA-TEC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 Oridnary shares of £1 each
1,000
1,000


 
Page 10