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REGISTERED NUMBER: 05729536 (England and Wales)














L & D Flowers Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






L & D Flowers Limited (Registered number: 05729536)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 11


L & D Flowers Limited

Company Information
for the Year Ended 30 April 2024







Directors: Mr J A Lacey
Mr R A Lacey
Mrs J Lacey
Miss L S Cook
Mr R E Stevenson





Secretary: Mrs J Lacey





Registered office: The Poplars
Herdgate Lane
Pinchbeck
Spalding
Lincolnshire
PE11 3UP





Registered number: 05729536 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
L & D Flowers Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of L & D Flowers Limited for the year ended 30 April 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of L & D Flowers Limited, as a body, in accordance with the terms of our engagement letter dated 17 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of L & D Flowers Limited and state those matters that we have agreed to state to the Board of Directors of L & D Flowers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L & D Flowers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that L & D Flowers 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 loss of L & D Flowers Limited. You consider that L & D Flowers 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 L & D Flowers 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.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


14 January 2025

L & D Flowers Limited (Registered number: 05729536)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 3,860 6,385
Tangible assets 6 2,798,387 2,751,574
Investments 7 50 50
2,802,297 2,758,009

Current assets
Stocks 2,388,948 2,213,264
Debtors 8 920,143 703,295
Cash at bank 7 7
3,309,098 2,916,566
Creditors
Amounts falling due within one year 9 3,224,734 2,877,931
Net current assets 84,364 38,635
Total assets less current liabilities 2,886,661 2,796,644

Creditors
Amounts falling due after more than one
year

10

(1,644,283

)

(1,422,483

)

Provisions for liabilities (314,922 ) (329,569 )
Net assets 927,456 1,044,592

Capital and reserves
Called up share capital 12 300 300
Retained earnings 927,156 1,044,292
Shareholders' funds 927,456 1,044,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

L & D Flowers Limited (Registered number: 05729536)

Statement of Financial Position - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2024 and were signed on its behalf by:




Mr J A Lacey - Director Miss L S Cook - Director




Mrs J Lacey - Director Mr R A Lacey - Director




Mr R E Stevenson - Director


L & D Flowers Limited (Registered number: 05729536)

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


1. Statutory information

L & D Flowers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition
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.

Farm support income
Monies received and receivable from the Rural Payments Agency in respect of the Basic Payment Scheme and the Environmental Stewardship Scheme are recognised as other operating income in the period to which they relate.

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

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:

Entitlements - 5 years 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.

L & D Flowers Limited (Registered number: 05729536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated
Plant and machinery - 15% - 33% on reducing balance and 5 years straight line
Motor vehicles - 25% on reducing balance
Office equipment - 5 years straight line

Depreciation is not provided on freehold property where, in the opinion of the directors, the residual value of that property is such that any depreciation charge would be immaterial.

Tangible fixed assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets
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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

L & D Flowers Limited (Registered number: 05729536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 as a finance cost in profit or loss in the period in which it arises.

Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.


L & D Flowers Limited (Registered number: 05729536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employees and directors

The average number of employees during the year was 31 (2023 - 24 ) .

L & D Flowers Limited (Registered number: 05729536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 May 2023
and 30 April 2024 12,626
Amortisation
At 1 May 2023 6,241
Charge for year 2,525
At 30 April 2024 8,766
Net book value
At 30 April 2024 3,860
At 30 April 2023 6,385

6. Tangible fixed assets
Freehold Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 May 2023 911,283 2,858,004 22,600 7,877 3,799,764
Additions - 368,519 63,990 3,783 436,292
Disposals - (113,287 ) (18,750 ) - (132,037 )
At 30 April 2024 911,283 3,113,236 67,840 11,660 4,104,019
Depreciation
At 1 May 2023 - 1,026,243 19,920 2,027 1,048,190
Charge for year - 301,507 16,628 2,077 320,212
Eliminated on disposal - (44,810 ) (17,960 ) - (62,770 )
At 30 April 2024 - 1,282,940 18,588 4,104 1,305,632
Net book value
At 30 April 2024 911,283 1,830,296 49,252 7,556 2,798,387
At 30 April 2023 911,283 1,831,761 2,680 5,850 2,751,574

L & D Flowers Limited (Registered number: 05729536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


7. Investments
Other
investments
other
than
loans
£   
Cost
At 1 May 2023
and 30 April 2024 50
Net book value
At 30 April 2024 50
At 30 April 2023 50

8. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 299,121 233,952
Other debtors - 1,400
Directors' current accounts 3,625 -
VAT 138,249 70,051
Prepayments and accrued income 479,148 397,892
920,143 703,295

9. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 613,319 561,710
Hire purchase contracts (see note 11) 421,798 233,214
Trade creditors 1,795,864 1,712,548
Social security and other taxes 25,323 19,791
Pension 6,057 4,013
Amounts owed to related
parties 172,535 264,160
Other creditors 17,290 -
Directors' current accounts 44,683 1,256
Accruals and deferred income 127,865 81,239
3,224,734 2,877,931

Included above are amounts due in relation to bank loans and overdrafts and hire purchase agreements. The bank loan and overdraft is secured by fixed and floating charges over the company's property and its undertakings. The hire purchase agreements are secured against the assets to which they relate.

L & D Flowers Limited (Registered number: 05729536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


10. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 637,636 723,900
Amounts owed to related
parties - 96,826
Hire purchase contracts (see note 11) 927,112 601,757
Other creditors 79,535 -
1,644,283 1,422,483

Included above are amounts due in relation to bank loans and hire purchase agreements. The bank loan is secured by fixed and floating charges over the company's property and its undertakings. The hire purchase agreements are secured against the assets to which they relate.

Included within creditors: amounts falling due after more than one year is an amount of £429,849 (2023: £210,080) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

11. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 421,798 233,214
Between one and five years 927,112 601,757
1,348,910 834,971

Non-cancellable operating leases
2024 2023
£    £   
Within one year 586,776 622,587
Between one and five years 547,709 1,072,956
1,134,485 1,695,543

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A shares £1 100 100
200 Ordinary B shares £1 200 200
300 300