for the Period Ended 30 April 2024
Company Information - 3 | |
Report of the Directors - 4 | |
Profit and Loss Account - 5 | |
Balance sheet - 6 | |
Footnotes to the Balance Sheet - 8 |
for the Period Ended 30 April 2024
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The directors present their report with the financial statements of the company for the period ended 30 April 2024
Principal Activities
Company policy on the employment of disabled persons
Additional information
The Directors present their report and the audited financial statements for Bloom Room Ltd for the year ended 30/04/2024. Principal Activity The principal activity of the company during the year was the operation of a florist shop, providing a range of floral arrangements, gift items, and related services to the local community. Financial Performance and Position During the first year of trading, the company faced the challenges typical of a new business. While sales revenue generated from the sale of floral arrangements and associated products was positive, it was not sufficient to cover the operating costs of the business. As a result, the company reported a trading loss for the period. To ensure the continuity of the business and to meet the financial requirements of the company, the sole director, [Director's Full Name], provided personal capital injections into the company. This capital was essential to meet the working capital needs, including purchasing inventory, paying rent, and covering other operational costs. The director’s contributions were made in the form of unsecured loans to the business, and no dividends were paid during the period. It is the intention of the board that the capital provided by the director will remain in the business until the company achieves a sustainable level of profitability. The capital was not withdrawn during the year and remains invested to support the business as it moves toward financial stability. Going Concern The financial statements have been prepared on a going concern basis, which assumes that the company will continue to operate in the foreseeable future. The director’s continued support and commitment to the business, through the provision of additional capital as necessary, provides assurance that the company will have the financial resources to meet its obligations and continue trading until it reaches profitability. Dividends The company has not declared or paid any dividends during the year, as it was determined that reinvestment of profits (once achieved) will be required to strengthen the company’s position and allow for sustainable growth. No dividends are expected to be paid in the near term, pending the achievement of a satisfactory profit level. Future Prospects Looking ahead, the company is optimistic about its future prospects. Plans are in place to expand the range of products and services offered, enhance the marketing efforts, and attract a wider customer base. The director remains committed to providing any further necessary capital to ensure the ongoing operations of the business and its long-term success. At Bloom Room Ltd, we are exploring the potential transition from a privately-owned business to charitable status in order to better align with our core values and long-term vision. This change would allow us to focus more directly on the social impact of our work, particularly in supporting individuals with disabilities and those in need of therapeutic, creative opportunities. By becoming a charity, we aim to expand our outreach, enhance our community involvement, and access additional funding and resources to further develop our educational programmes in floristry and crafts. This move reflects our commitment to creating a more inclusive and impactful environment, where the focus remains on the well-being and personal growth of participants, rather than profit generation. We believe that this change will enable us to make a more significant difference in the lives of those we serve, while ensuring that our values of accessibility, support, and creativity are maintained at the heart of everything we do. Conclusion The first year of trading has presented its challenges, as is typical for a new business, but the support provided by the sole director and the ongoing focus on establishing a strong customer base has laid the groundwork for future success. We look forward to the coming year, with the aim of reaching a position of profitability and sustainability and positive community impact. On behalf of the Board, Claire Louise Yafai Sole Director Bloom Room Ltd 06/02/2025
Directors
The director(s) shown below were appointed to the company during the period
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
for the Period Ended 30 April 2024
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Income from coronavirus (COVID-19) business support grants | 0 |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 April 2024
for the Period Ended 30 April 2024