Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 03052875 Mr Philip Bossey Mrs Joyce Bossey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03052875 2023-05-31 03052875 2024-05-31 03052875 2023-06-01 2024-05-31 03052875 frs-core:CurrentFinancialInstruments 2024-05-31 03052875 frs-core:Non-currentFinancialInstruments 2024-05-31 03052875 frs-core:ShareCapital 2024-05-31 03052875 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 03052875 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03052875 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 03052875 frs-bus:SmallEntities 2023-06-01 2024-05-31 03052875 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03052875 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03052875 frs-bus:Director1 2023-06-01 2024-05-31 03052875 frs-bus:Director2 2023-06-01 2024-05-31 03052875 frs-countries:EnglandWales 2023-06-01 2024-05-31 03052875 2022-05-31 03052875 2023-05-31 03052875 2022-06-01 2023-05-31 03052875 frs-core:CurrentFinancialInstruments 2023-05-31 03052875 frs-core:Non-currentFinancialInstruments 2023-05-31 03052875 frs-core:ShareCapital 2023-05-31 03052875 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 03052875
First Flowers Direct Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 03052875
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 801 995
Cash at bank and in hand 306 453
1,107 1,448
Creditors: Amounts Falling Due Within One Year 4 (66,758 ) (83,718 )
NET CURRENT ASSETS (LIABILITIES) (65,651 ) (82,270 )
TOTAL ASSETS LESS CURRENT LIABILITIES (65,651 ) (82,270 )
Creditors: Amounts Falling Due After More Than One Year 5 (10,607 ) (12,737 )
NET LIABILITIES (76,258 ) (95,007 )
CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Profit and Loss Account (86,258 ) (105,007 )
SHAREHOLDERS' FUNDS (76,258) (95,007)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 28 January 2025 and were signed on its behalf by:
Mr Philip Bossey
Director
28/01/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
First Flowers Direct Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03052875 . The registered office is Flowerscents, 3 Railway Bridge, High Street, Sutton, Surrey, SM1 1JA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. Foreign Currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising
on translation in the period are included in profit or loss.
2.8. Government Grant
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.9. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,524 268
Bank loans and overdrafts 2,486 2,486
Other creditors 61,748 80,964
66,758 83,718
5. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,607 12,737
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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