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Registration number: 02497403

Floreeda Fabrications Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Floreeda Fabrications Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Floreeda Fabrications Limited

Company Information

Directors

Mr Alun Jones

Mrs Jaqueline Taylor

Mr Paul Jones

Mrs Jill Jones

Company secretary

Mrs Jaqueline Taylor

Registered office

Unit 2C
Crossley Park
Stockport
SK4 5BF

Accountants

Bright Partnership Limited
 Unit 26 Edward Court
Altrincham Business Park
Altrincham
WA14 5GL

 

Floreeda Fabrications Limited

(Registration number: 02497403)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

442,791

467,952

Current assets

 

stocks

89,406

159,357

Debtors

5

342,866

323,895

Cash at bank and in hand

 

954,255

549,120

 

1,386,527

1,032,372

Creditors: Amounts falling due within one year

6

(566,127)

(377,422)

Net current assets

 

820,400

654,950

Total assets less current liabilities

 

1,263,191

1,122,902

Creditors: Amounts falling due after more than one year

6

-

(4,535)

Provisions for liabilities

(106,337)

(84,869)

Net assets

 

1,156,854

1,033,498

capital and reserves

 

Called up share capital

1,200

1,200

Profit and loss account

1,155,654

1,032,298

Total equity

 

1,156,854

1,033,498

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.

Directors' 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 directors acknowledge their 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.

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.

 

Floreeda Fabrications Limited

(Registration number: 02497403)
Statement of Financial Position as at 30 April 2024

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................
Mr Alun Jones
Director

.........................................
Mrs Jaqueline Taylor
Company secretary and director

.........................................
Mr Paul Jones
Director

.........................................
Mrs Jill Jones
Director

 

Floreeda Fabrications Limited

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 United Kingdom.

The address of its registered office is:
Unit 2C
Crossley Park
Stockport
SK4 5BF

These financial statements were authorised for issue by the Board on 28 October 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

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:
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 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.

 

Floreeda Fabrications Limited

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

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 statement of financial position 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

Land and buildings

In accordance with the property

Plant and machinery

25% reducing balance

Fixtures and fittings

15% reducing balance

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.

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.

 

Floreeda Fabrications Limited

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

 

Floreeda Fabrications Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 15).

 

Floreeda Fabrications Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

171,593

932,117

102,298

1,206,008

Additions

3,057

50,499

-

53,556

At 30 April 2024

174,650

982,616

102,298

1,259,564

Depreciation

At 1 May 2023

128,106

558,501

51,449

738,056

Charge for the year

6,651

59,354

12,712

78,717

At 30 April 2024

134,757

617,855

64,161

816,773

Carrying amount

At 30 April 2024

39,893

364,761

38,137

442,791

At 30 April 2023

43,487

373,616

50,849

467,952

5

Debtors

Current

2024
£

2023
£

Trade debtors

319,669

303,739

Prepayments

20,197

20,156

Other debtors

3,000

-

 

342,866

323,895

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,767

8,747

Trade creditors

 

70,763

131,284

Taxation and social security

 

380,068

190,809

Other creditors

 

111,529

46,582

 

566,127

377,422

Creditors include amounts held under finance leases of £3,767(2023: £16,136) which are secured against the assets to which they relate.

 

Floreeda Fabrications Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

4,535

Creditors include amounts held under finance leases of £NIL (2023: £4,535) which are secured against the assets to which they relate.