CAROL'S FLORIST (MANCHESTER) LTD

Company Registration Number:
05754635 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

CAROL'S FLORIST (MANCHESTER) LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

CAROL'S FLORIST (MANCHESTER) LTD

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 1 1
Tangible assets: 4 2,438 2,477
Total fixed assets: 2,439 2,478
Current assets
Stocks: 3,283 3,349
Debtors:   23,144 36,393
Cash at bank and in hand: 29,221 14,006
Total current assets: 55,648 53,748
Creditors: amounts falling due within one year:   (14,356) (13,714)
Net current assets (liabilities): 41,292 40,034
Total assets less current liabilities: 43,731 42,512
Total net assets (liabilities): 43,731 42,512
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 43,631 42,412
Shareholders funds: 43,731 42,512

The notes form part of these financial statements

CAROL'S FLORIST (MANCHESTER) LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 July 2024
and signed on behalf of the board by:

Name: EA Moran
Status: Director

The notes form part of these financial statements

CAROL'S FLORIST (MANCHESTER) LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery - 25% reducing balance Fittings fixtures and equipment - 25% reducing balance Motor vehicles - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Other accounting policies

Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Financial instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

CAROL'S FLORIST (MANCHESTER) LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 3 3

CAROL'S FLORIST (MANCHESTER) LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible Assets

Total
Cost £
At 01 April 2023 70,000
At 31 March 2024 70,000
Amortisation
At 01 April 2023 69,999
At 31 March 2024 69,999
Net book value
At 31 March 2024 1
At 31 March 2023 1

CAROL'S FLORIST (MANCHESTER) LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 19,423
Additions 775
At 31 March 2024 20,198
Depreciation
At 01 April 2023 16,946
Charge for year 814
At 31 March 2024 17,760
Net book value
At 31 March 2024 2,438
At 31 March 2023 2,477

CAROL'S FLORIST (MANCHESTER) LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Loans to directors

Name of director receiving advance or credit: EA Moran
Description of the loan: Loan advance
£
Balance at 01 April 2023 9,146
Advances or credits made: 841
Balance at 31 March 2024 9,987
Name of director receiving advance or credit: CE Lea
Description of the loan: Loan advance
£
Balance at 01 April 2023 9,146
Advances or credits made: 841
Balance at 31 March 2024 9,987