Company Registration No. 02784736 (England and Wales)
FLOWERTOUR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
FLOWERTOUR LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
FLOWERTOUR LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FLOWERTOUR LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The following reproduces text of the accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 9 have been extracted.

"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Flowertour Limited for the year ended 31 March 2024 set out on pages 3 to 12 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

Our work has been undertaken solely to prepare for your approval the financial statements of Flowertour Limited and state those matters that we have agreed to state to the Board of Directors of Flowertour Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flowertour Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Flowertour Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Flowertour Limited. You consider that Flowertour Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Flowertour Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

 

 

John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
13 November 2024
FLOWERTOUR LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
154,656
-
0
Tangible assets
4
414,739
407,761
Investment properties
5
1,420,708
1,420,708
1,990,103
1,828,469
Current assets
Stocks
127,038
106,627
Debtors
6
650,931
692,211
Cash at bank and in hand
592,178
715,807
1,370,147
1,514,645
Creditors: amounts falling due within one year
7
(454,643)
(595,816)
Net current assets
915,504
918,829
Total assets less current liabilities
2,905,607
2,747,298
Creditors: amounts falling due after more than one year
8
-
0
(87,058)
Provisions for liabilities
11
(309,077)
(306,957)
Net assets
2,596,530
2,353,283
Capital and reserves
Called up share capital
13
100
100
Other reserve (non-distributable)
12
981,448
981,448
Profit and loss reserves
14
1,614,982
1,371,735
Total equity
2,596,530
2,353,283

The directorstrue of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver the profit and loss account and the directors' report within the financial statements.

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

FLOWERTOUR LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 13 November 2024 and are signed on its behalf by:
Mr B V Patel
Director
Company Registration No. 02784736
FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Flowertour Limited is a private company limited by shares incorporated in England and Wales. The registered office is 65 Elizabeth Street, London, SW1W 9PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

1.2
Going concern

The company believe that adequate cash resources will be available to cover the company’s requirements for working capital and capital expenditure for at least the next twelve months. We are not aware of any other factors which could put into jeopardy the company’s going concern status during or beyond this period. Therefore the company has chosen to continue to adopt the going concern basis of accounting in preparing the financial statements.true

 

1.3
Turnover

Turnover represents amounts receivable for goods dispensed, sales of pharmaceutical and perfumery products and community pharmacy advisers net of VAT and trade discounts.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business or developed internally are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website & app development
33.33% per annum on a straight line basis
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold buildings
2.5% per annum on a straight line basis
Fixtures, fittings & equipment
15% per annum on a reducing balance basis
Motor vehicles
25% per annum on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Investment properties

Investment properties, which are properties held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

 

Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account, and then transferred to other non-distributable reserves.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

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 profit and loss account.

1.8
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors and the loans.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and the bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transactions, where the debt instruments is measured at the present value of the future payments discounted at market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
3
Intangible fixed assets
Website & app development
£
Cost
At 1 April 2023
-
0
Additions
183,359
At 31 March 2024
183,359
Amortisation and impairment
At 1 April 2023
-
0
Amortisation charged for the year
28,703
At 31 March 2024
28,703
Carrying amount
At 31 March 2024
154,656
At 31 March 2023
-
0
FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
360,981
508,678
869,659
Additions
8,200
48,535
56,735
At 31 March 2024
369,181
557,213
926,394
Depreciation and impairment
At 1 April 2023
105,681
356,217
461,898
Depreciation charged in the year
9,230
40,527
49,757
At 31 March 2024
114,911
396,744
511,655
Carrying amount
At 31 March 2024
254,270
160,469
414,739
At 31 March 2023
255,300
152,461
407,761
5
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,420,708

The fair value of the investment properties have been arrived at on the basis of a valuation carried out at 31 March 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
49,155
45,484
Corporation tax recoverable
128,535
128,535
Other debtors
473,241
518,192
650,931
692,211
FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
13,682
Trade creditors
300,769
295,430
Corporation tax
61,352
57,656
Other taxation and social security
6,213
7,993
Other creditors
86,309
221,055
454,643
595,816
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
87,058
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
27,667
9
Loans and overdrafts
2024
2023
£
£
Bank loans
-
0
100,740
Payable within one year
-
0
13,682
Payable after one year
-
0
87,058
10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
11
309,077
306,957
FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
39,579
37,459
Investment property
269,498
269,498
309,077
306,957
2024
Movements in the year:
£
Liability at 1 April 2023
306,957
Charge to profit or loss
2,120
Liability at 31 March 2024
309,077
12
Revaluation reserve
2024
2023
£
£
At beginning and end of year
981,448
981,448
13
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
14
Profit and loss reserves

The only movements in reserves for the year ended 31 March 2024 and 31 March 2023 are profit and dividend paid for the year.

 

15
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Dividends totalling £100,000 (2023 - £200,000) were paid in the year in respect of shares held by the company's directors.

FLOWERTOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15
Directors' transactions
(Continued)
- 10 -
Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Mr B V Patel -
2.50
328,962
6,920
(50,000)
285,882
328,962
6,920
(50,000)
285,882
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