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Registered number: 10819331
Buds And Blooms Limited
Directors' Report and
Financial Statements
For The Year Ended 30 June 2024
Pisces Accounts Limited
Aizlewood's Mill
Nursery Street
Sheffield
South Yorkshire
S3 8GG
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Income Statement 4
Statement of Financial Position 5
Notes to the Financial Statements 6—8
Page 1
Company Information
Directors Mr Sachin Verma
Mrs Ritika Verma
Company Number 10819331
Registered Office 36 The Avenue
Watford
WD17 4NT
Accountants Pisces Accounts Limited
Aizlewood's Mill
Nursery Street
Sheffield
South Yorkshire
S3 8GG
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 June 2024.
Directors
The directors who held office during the year were as follows:
Mr Sachin Verma Resigned 12/02/2024
Mr Sachin Verma Appointed 08/03/2024
Mrs Ritika Verma
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Sachin Verma
Director
25th March 2025
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Page 3
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Buds And Blooms Limited For The Year Ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Buds And Blooms Limited For The Year Ended 30 June 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the directors of Buds And Blooms Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Buds And Blooms Limited and state those matters that we have agreed to state to the directors of Buds And Blooms Limited , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Buds And Blooms Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Buds And Blooms Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Buds And Blooms Limited . You consider that Buds And Blooms Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Buds And Blooms Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Alan Oakes
25th March 2025
Pisces Accounts Limited
Aizlewood's Mill
Nursery Street
Sheffield
South Yorkshire
S3 8GG
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Page 4
Income Statement
2024 2023
Notes £ £
TURNOVER 512,856 509,979
Cost of sales (51,134 ) (31,157 )
GROSS PROFIT 461,722 478,822
Administrative expenses (532,291 ) (451,560 )
Other operating income 118,810 186,874
OPERATING PROFIT 48,241 214,136
Other interest receivable and similar income 2,377 -
Interest payable and similar charges (14,015 ) (8,024 )
PROFIT BEFORE TAXATION 36,603 206,112
Tax on Profit (13,123 ) (26,960 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 23,480 179,152
The notes on pages 6 to 8 form part of these financial statements.
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Page 5
Statement of Financial Position
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 38,903 38,903
Tangible Assets 5 87,955 116,696
126,858 155,599
CURRENT ASSETS
Debtors 6 - 1,127
Cash at bank and in hand 440,914 376,746
440,914 377,873
Creditors: Amounts Falling Due Within One Year 7 (193,408 ) (149,972 )
NET CURRENT ASSETS (LIABILITIES) 247,506 227,901
TOTAL ASSETS LESS CURRENT LIABILITIES 374,364 383,500
Creditors: Amounts Falling Due After More Than One Year 8 (89,719 ) (122,335 )
NET ASSETS 284,645 261,165
CAPITAL AND RESERVES
Called up share capital 9 2 2
Income Statement 284,643 261,163
SHAREHOLDERS' FUNDS 284,645 261,165
For the year ending 30 June 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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Sachin Verma
Director
25th March 2025
The notes on pages 6 to 8 form part of these financial statements.
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Page 6
Notes to the Financial Statements
1. General Information
Buds And Blooms Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10819331 . The registered office is 36 The Avenue, Watford, WD17 4NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to income statement over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 38,903
As at 30 June 2024 38,903
Net Book Value
As at 30 June 2024 38,903
As at 1 July 2023 38,903
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 166,609 55,000 614 222,223
Additions 560 - - 560
As at 30 June 2024 167,169 55,000 614 222,783
Depreciation
As at 1 July 2023 103,157 2,291 79 105,527
Provided during the period 15,990 13,178 133 29,301
As at 30 June 2024 119,147 15,469 212 134,828
Net Book Value
As at 30 June 2024 48,022 39,531 402 87,955
As at 1 July 2023 63,452 52,709 535 116,696
6. Debtors
2024 2023
£ £
Due within one year
Other debtors - 1,127
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Bank loans and overdrafts 30,175 30,176
Other creditors 147,095 89,242
Taxation and social security 16,137 30,554
193,408 149,972
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 89,719 122,335
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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