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COMPANY REGISTRATION NUMBER: 08414554
FLOWERS IN LONDON LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
FLOWERS IN LONDON LTD
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
FLOWERS IN LONDON LTD
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mrs A Ball
Mr G Timewell
Mr R Ball
Registered office
Unit 25
Mackley Industrial Estate
Henfield Road
Small Dole
Henfield
England
BN5 9XR
Accountants
UHY Hacker Young
Chartered Accountants
168 Church Road
Hove
BN3 2DL
FLOWERS IN LONDON LTD
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
129,255
103,308
Current assets
Debtors
7
261,715
263,685
Cash at bank and in hand
37,852
42,566
----------
----------
299,567
306,251
Creditors: amounts falling due within one year
8
151,689
185,368
----------
----------
Net current assets
147,878
120,883
----------
----------
Total assets less current liabilities
277,133
224,191
Creditors: amounts falling due after more than one year
9
47,179
45,000
Provisions
Taxation including deferred tax
17,205
15,445
----------
----------
Net assets
212,749
163,746
----------
----------
Capital and reserves
Called up share capital
100
100
Share premium account
35,980
35,980
Profit and loss account
176,669
127,666
----------
----------
Shareholders funds
212,749
163,746
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FLOWERS IN LONDON LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 7 January 2025 , and are signed on behalf of the board by:
Mrs A Ball
Director
Company registration number: 08414554
FLOWERS IN LONDON LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is Unit 25, Mackley Industrial Estate, Henfield Road, Small Dole, Henfield, BN5 9XR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements have had to be made by the directors in preparing these financial statements.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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 only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
Franchise
-
20% 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.
Tangible 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.
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
-
20% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
33% reducing balance
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.
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.
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 instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Intangible assets
Franchise
£
Cost
At 1 May 2023 and 30 April 2024
36,000
---------
Amortisation
At 1 May 2023 and 30 April 2024
36,000
---------
Carrying amount
At 30 April 2024
---------
At 30 April 2023
---------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
598,549
8,395
9,170
616,114
Additions
79,194
41,918
1,356
122,468
Disposals
( 5,450)
( 5,450)
----------
---------
---------
----------
At 30 April 2024
677,743
44,863
10,526
733,132
----------
---------
---------
----------
Depreciation
At 1 May 2023
498,876
6,901
7,029
512,806
Charge for the year
80,427
9,490
1,154
91,071
----------
---------
---------
----------
At 30 April 2024
579,303
16,391
8,183
603,877
----------
---------
---------
----------
Carrying amount
At 30 April 2024
98,440
28,472
2,343
129,255
----------
---------
---------
----------
At 30 April 2023
99,673
1,494
2,141
103,308
----------
---------
---------
----------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 April 2024
21,257
---------
At 30 April 2023
---------
7. Debtors
2024
2023
£
£
Trade debtors
124,509
127,907
Other debtors
137,206
135,778
----------
----------
261,715
263,685
----------
----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
20,000
40,447
Trade creditors
68,941
95,802
Corporation tax
38,024
32,379
Social security and other taxes
15,138
12,945
Other creditors
9,586
3,795
----------
----------
151,689
185,368
----------
----------
The loans are secured by way of personal guarantees given by two directors.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,000
45,000
Other creditors
22,179
---------
---------
47,179
45,000
---------
---------
The loans are secured by way of personal guarantees given by two directors.