NB: Flowers!! Limited 06078248 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is in the year under review was that of the sale and arranging of flowers Digita Accounts Production Advanced 6.30.9574.0 true 06078248 2023-06-01 2024-05-31 06078248 2024-05-31 06078248 bus:OrdinaryShareClass2 bus:CumulativeShares 2024-05-31 06078248 bus:OrdinaryShareClass3 bus:CumulativeShares 2024-05-31 06078248 core:CurrentFinancialInstruments 2024-05-31 06078248 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 06078248 core:Goodwill 2024-05-31 06078248 core:FurnitureFittingsToolsEquipment 2024-05-31 06078248 core:LandBuildings 2024-05-31 06078248 core:MotorVehicles 2024-05-31 06078248 core:OtherPropertyPlantEquipment 2024-05-31 06078248 1 2024-05-31 06078248 bus:SmallEntities 2023-06-01 2024-05-31 06078248 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06078248 bus:FilletedAccounts 2023-06-01 2024-05-31 06078248 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06078248 bus:RegisteredOffice 2023-06-01 2024-05-31 06078248 bus:CompanySecretary1 2023-06-01 2024-05-31 06078248 bus:Director1 2023-06-01 2024-05-31 06078248 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-06-01 2024-05-31 06078248 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-06-01 2024-05-31 06078248 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06078248 bus:Agent1 2023-06-01 2024-05-31 06078248 core:Goodwill 2023-06-01 2024-05-31 06078248 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 06078248 core:LandBuildings 2023-06-01 2024-05-31 06078248 core:MotorVehicles 2023-06-01 2024-05-31 06078248 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 06078248 core:PlantMachinery 2023-06-01 2024-05-31 06078248 countries:AllCountries 2023-06-01 2024-05-31 06078248 1 2023-06-01 2024-05-31 06078248 2023-05-31 06078248 core:Goodwill 2023-05-31 06078248 core:FurnitureFittingsToolsEquipment 2023-05-31 06078248 core:LandBuildings 2023-05-31 06078248 core:MotorVehicles 2023-05-31 06078248 core:OtherPropertyPlantEquipment 2023-05-31 06078248 1 2023-05-31 06078248 2022-06-01 2023-05-31 06078248 2023-05-31 06078248 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-05-31 06078248 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-05-31 06078248 core:CurrentFinancialInstruments 2023-05-31 06078248 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 06078248 core:FurnitureFittingsToolsEquipment 2023-05-31 06078248 core:LandBuildings 2023-05-31 06078248 core:MotorVehicles 2023-05-31 06078248 core:OtherPropertyPlantEquipment 2023-05-31 06078248 1 2023-05-31 06078248 1 2022-06-01 2023-05-31 06078248 1 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06078248

NB: Flowers!! Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

NB: Flowers!! Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

NB: Flowers!! Limited

Company Information

Directors

N A Birks

Company secretary

S J Loakes

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank plc
27 Regent Street
Haymarket
London
SW1Y 4NQ

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

NB: Flowers!! Limited

(Registration number: 06078248)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

11,128

14,189

Current assets

 

Stocks

6

13,000

20,000

Debtors

7

276,231

292,568

Cash at bank and in hand

 

251,247

306,259

 

540,478

618,827

Creditors: Amounts falling due within one year

8

(220,091)

(214,504)

Net current assets

 

320,387

404,323

Total assets less current liabilities

 

331,515

418,512

Provisions for liabilities

(2,782)

(3,547)

Net assets

 

328,733

414,965

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

328,633

414,865

Shareholders' funds

 

328,733

414,965

For the financial year ended 31 May 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 November 2024
 

N A Birks
Director

 

NB: Flowers!! Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, England.

The principal place of business is: M6 - M7 The Flower Market, New Covent Garden Market, London, SW8 5EH.

These financial statements were authorised for issue by the director on 22 November 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

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale and arranging of flowers to customers in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants have been recognised within the profit and loss account for the accounting period they relate to.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred income tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

NB: Flowers!! Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

50% straight line basis

Fixtures, fittings and office equipment

25% reducing balance and 33% straight line basis

Motor vehicles

25% reducing balance basis

Improvements to property

10% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

NB: Flowers!! Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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 balance sheet 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.

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 paid.

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.

Long term employee benefits

The holiday pay year for NB: Flowers!! Limited ends at 31 March 2025.

Any unused holiday can be carried forward at the discretion of the directors. The cost of any unused entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

NB: Flowers!! Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

72,000

72,000

At 31 May 2024

72,000

72,000

Amortisation

At 1 June 2023

72,000

72,000

At 31 May 2024

72,000

72,000

Carrying amount

At 31 May 2024

-

-

5

Tangible assets

Improvement to property
£

Fixtures, fittings and office equipment
£

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 June 2023

3,150

19,671

41,069

3,813

67,703

Additions

-

737

-

-

737

At 31 May 2024

3,150

20,408

41,069

3,813

68,440

Depreciation

At 1 June 2023

1,378

16,331

32,054

3,751

53,514

Charge for the year

177

1,306

2,254

61

3,798

At 31 May 2024

1,555

17,637

34,308

3,812

57,312

Carrying amount

At 31 May 2024

1,595

2,771

6,761

1

11,128

At 31 May 2023

1,772

3,340

9,015

62

14,189

 

NB: Flowers!! Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

6

Stocks

2024
£

2023
£

Other inventories

13,000

20,000

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

162,199

149,908

Directors loan account

11

96,384

95,430

Other debtors

 

8,997

41,204

Prepayments

 

8,651

6,026

 

276,231

292,568

8

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

-

466

Trade creditors

65,544

48,367

Taxation and social security

137,874

143,016

Other creditors

11,112

10,926

Accruals and deferred income

5,561

11,729

220,091

214,504

Current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

-

466

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £466).

 

NB: Flowers!! Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

75

75

75

75

Ordinary B shares of £1 each

25

25

25

25

100

100

100

100

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £27,845 (2023 - £34,813).

11

Related party transactions

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Directors loan transactions

95,430

330,120

(329,166)

96,384

 

2023

At 1 June 2022
£

Advances to directors
£

Repayments by director
£

At 31 May 2023
£

Directors loan transactions

(8,262)

249,853

(146,161)

95,430