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REGISTERED NUMBER: 01488229 (England and Wales)














F LOWLEY & SON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






F LOWLEY & SON LIMITED (REGISTERED NUMBER: 01488229)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


F LOWLEY & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: T E Bassitt
C G Banner
B S Winterburn
M Bainbridge



SECRETARY: M Bainbridge



REGISTERED OFFICE: 13 Low Skellgate
Ripon
North Yorkshire
HG4 1BE



REGISTERED NUMBER: 01488229 (England and Wales)



AUDITORS: BPR Audit Limited
Statutory Auditors
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY



SOLICITORS: Eccles Heddon
5 Westgate
Ripon
HG4 2AT

F LOWLEY & SON LIMITED (REGISTERED NUMBER: 01488229)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,812 16,517

CURRENT ASSETS
Stocks 11,205 12,480
Debtors 5 129,777 151,955
Cash at bank and in hand 1,061,925 1,014,024
1,202,907 1,178,459
CREDITORS
Amounts falling due within one year 6 78,392 77,576
NET CURRENT ASSETS 1,124,515 1,100,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,144,327

1,117,400

PROVISIONS FOR LIABILITIES 1,387 414
NET ASSETS 1,142,940 1,116,986

CAPITAL AND RESERVES
Called up share capital 1,186 1,186
Share premium 69,972 69,972
Capital redemption reserve 296 296
Retained earnings 1,071,486 1,045,532
SHAREHOLDERS' FUNDS 1,142,940 1,116,986

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:




C G Banner - Director



T E Bassitt - Director


F LOWLEY & SON LIMITED (REGISTERED NUMBER: 01488229)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

F Lowley & Son 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound.

Going Concern
The financial statements have been prepared using the going concern basis.

The company has bank reserves which will cover at least four years overheads and wage costs without any contribution from future trading activities. The sector from which the company derives virtually all its income, has a consistent history of activity in the locality and the company's share of that market remains broadly the same year on year. Thus, the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. These estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events. However, the nature of estimation means that actual results may differ from these estimates.

Key sources of estimation uncertainty
Determining appropriate rates of depreciation requires an estimation of the useful lives and expected residual values of fixed assets. The net carrying amount of assets is £19,812 (2023: £16,517). During the year depreciation of £1,583 has been charged (2023: £899).

Turnover
Turnover represents revenue from funeral and joinery contracts and comprises the amount recoverable from customers, once those services have been performed and the goods supplied. The company pays certain disbursements on behalf of its funeral clients, these amounts are recovered at cost as part of the invoicing process.

Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the services provided to that date based on the stage of completion and funerals will include disbursements expended.

F LOWLEY & SON LIMITED (REGISTERED NUMBER: 01488229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

Other financial instruments
The company does not have any financial instruments that would not be classed as 'basic'.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

F LOWLEY & SON LIMITED (REGISTERED NUMBER: 01488229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 29,728 59,553 89,281
Additions - 4,878 4,878
At 30 April 2024 29,728 64,431 94,159
DEPRECIATION
At 1 May 2023 14,868 57,896 72,764
Charge for year 595 988 1,583
At 30 April 2024 15,463 58,884 74,347
NET BOOK VALUE
At 30 April 2024 14,265 5,547 19,812
At 30 April 2023 14,860 1,657 16,517

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,078 92,285
Amounts recoverable on contract 34,114 50,723
Other debtors 9,585 8,947
129,777 151,955

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,680 35,484
Taxation and social security 27,903 26,141
Other creditors 19,809 15,951
78,392 77,576

F LOWLEY & SON LIMITED (REGISTERED NUMBER: 01488229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Fenton FCA (Senior Statutory Auditor)
for and on behalf of BPR Audit Limited