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Registered number: 03569219









FLOWER CORNER LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
FLOWER CORNER LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 8


 
FLOWER CORNER LIMITED
REGISTERED NUMBER: 03569219

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
46,448
45,864

  
46,448
45,864

Current assets
  

Stocks
  
1,327
2,265

Debtors: amounts falling due within one year
 5 
13,417
4,718

Cash at bank and in hand
  
114,999
148,455

Current liabilities
  
129,743
155,438

Creditors: amounts falling due within one year
 6 
(127,994)
(133,092)

Net current assets
  
 
 
1,749
 
 
22,346

Total assets less current liabilities
  
48,197
68,210

Creditors: amounts falling due after more than one year
 7 
(9,970)
(19,912)

Provisions for liabilities
  

Deferred tax
  
(14,655)
(7,809)

  
 
 
(14,655)
 
 
(7,809)

Net assets
  
23,572
40,489


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
23,570
40,487

  
23,572
40,489


Page 1

 
FLOWER CORNER LIMITED
REGISTERED NUMBER: 03569219
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 February 2025.




R Washbourne
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FLOWER CORNER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Flower Corner Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office can be found on the Company Information page. 
The principal place of business is 80A Kensington High Street, London, W8 4SG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The functional and presentational currency is GBP. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises the invoiced cost of goods sold during the year, excluding value added tax, and net of trade discounts. The company’s policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer. 

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
FLOWER CORNER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
30 years straight line basis
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
FLOWER CORNER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable.


3.


Employees

2024
2023
£
£

Wages and salaries
187,509
140,708

Social security costs
14,822
7,151

Cost of defined contribution scheme
1,151
710

203,482
148,569


The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 5

 
FLOWER CORNER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 June 2023
27,999
31,068
15,883
15,596
2,599
93,145


Additions
-
8,557
-
-
-
8,557


Disposals
-
-
(4,725)
-
-
(4,725)



At 31 May 2024

27,999
39,625
11,158
15,596
2,599
96,977



Depreciation


At 1 June 2023
389
24,376
6,782
14,421
1,313
47,281


Charge for the year on owned assets
-
2,184
1,802
293
866
5,145


Disposals
-
-
(2,830)
-
-
(2,830)


Transfers between classes
933
-
-
-
-
933



At 31 May 2024

1,322
26,560
5,754
14,714
2,179
50,529



Net book value



At 31 May 2024
26,677
13,065
5,404
882
420
46,448



At 31 May 2023
27,610
6,692
9,101
1,175
1,286
45,864

Page 6

 
FLOWER CORNER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
9,517
3,891

Other debtors
-
77

Prepayments and accrued income
3,900
750

13,417
4,718



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,648
10,648

Trade creditors
23,609
30,041

Other taxation and social security
74,429
66,966

Other creditors
1,175
687

Accruals and deferred income
18,133
24,750

127,994
133,092



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,970
19,912

9,970
19,912



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Oridnary shares of £1.00 each
2
2


Page 7

 
FLOWER CORNER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,151 (2023 - £710).
Contributions totalling £513 (2023 - £163) were payable to the fund at the reporting date and are included in creditors.


10.


Related party transactions

As at year end, the company owed £662 (2023: £524) to the director.

 
Page 8