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REGISTERED NUMBER: 07296577 (England and Wales)















Report of the Directors and

Financial Statements for the Period 1 February 2023 to 26 January 2024

for

Flowercroft Limited

Flowercroft Limited (Registered number: 07296577)






Contents of the Financial Statements
for the Period 1 February 2023 to 26 January 2024




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 9


Flowercroft Limited

Company Information
for the Period 1 February 2023 to 26 January 2024







DIRECTORS: Mr Sotiris Xeni
Mr Fedon Agathokleous
Mrs Ivoulla Xeni





SECRETARY: Mrs Christiana Agathokleous





REGISTERED OFFICE: 36-38 Mortimer Street
London
W1W 7RG





REGISTERED NUMBER: 07296577 (England and Wales)





AUDITORS: Chris Pantazis Ltd
10A Aldermans Hill
Palmers Green
London
N13 4PJ

Flowercroft Limited (Registered number: 07296577)

Report of the Directors
for the Period 1 February 2023 to 26 January 2024

The directors present their report with the financial statements of the company for the period 1 February 2023 to 26 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of Other letting and operating of own or leased real estate

DIVIDENDS
No interim dividend was paid during the period. The directors recommend a final dividend of 57,969 per share.

The total distribution of dividends for the period ended 26 January 2024 will be £ 57,969 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

Mr Sotiris Xeni
Mr Fedon Agathokleous
Mrs Ivoulla Xeni

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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 these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Chris Pantazis Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Sotiris Xeni - Director


8 April 2025

Report of the Independent Auditors to the Members of
Flowercroft Limited (Registered number: 07296577)

Opinion
We have audited the financial statements of Flowercroft Limited (the 'company') for the period ended 26 January 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 26 January 2024 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Flowercroft Limited (Registered number: 07296577)


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Flowercroft Limited (Registered number: 07296577)


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

a) Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, company law, tax and pensions legislation and distributable profits legislation; and
b) Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include operating licence, environmental regulations, health and safety legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Flowercroft Limited (Registered number: 07296577)


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Chris Pantazis (Senior Statutory Auditor)
for and on behalf of Chris Pantazis Ltd
10A Aldermans Hill
Palmers Green
London
N13 4PJ

8 April 2025

Flowercroft Limited (Registered number: 07296577)

Income Statement
for the Period 1 February 2023 to 26 January 2024

Period
1.2.23
to Year Ended
26.1.24 31.1.23
Notes £    £   

TURNOVER 3 143,752 106,615

Cost of sales 3,533 7,005
GROSS PROFIT 140,219 99,610

Administrative expenses 10,070 9,883
OPERATING PROFIT 130,149 89,727


Interest payable and similar expenses 5 42,902 25,192
PROFIT BEFORE TAXATION 87,247 64,535

Tax on profit 6 18,927 12,262
PROFIT FOR THE FINANCIAL PERIOD 68,320 52,273

Flowercroft Limited (Registered number: 07296577)

Balance Sheet
26 January 2024

26.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 2,475,000 2,475,000

CURRENT ASSETS
Debtors 8 7,500 17,045
Cash at bank 1,050 1,730
8,550 18,775
CREDITORS
Amounts falling due within one year 9 840,188 860,764
NET CURRENT LIABILITIES (831,638 ) (841,989 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,643,362

1,633,011

CREDITORS
Amounts falling due after more than one year 10 (586,961 ) (586,961 )

PROVISIONS FOR LIABILITIES 12 (156,079 ) (156,079 )
NET ASSETS 900,322 889,971

CAPITAL AND RESERVES
Called up share capital 13 1 1
Revaluation reserve 14 665,391 665,391
Retained earnings 14 234,930 224,579
SHAREHOLDERS' FUNDS 900,322 889,971

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

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





Mr Sotiris Xeni - Director


Flowercroft Limited (Registered number: 07296577)

Notes to the Financial Statements
for the Period 1 February 2023 to 26 January 2024

1. STATUTORY INFORMATION

Flowercroft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

2.1 Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies, and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2 Financial reporting standard 102: reduced disclosure exemptions
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The Company has taken advantage of the disclosure exemptions in preparing these financial statements, as permitted by FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.

The requirements of Section 7 : Statement of Cash Flows;
The requirements of Section 3: Financial Statement Presentation, paragraph 3.17 (d);
The requirements of Section 33: Related Party Disclosures, paragraph 33.7.

2.3 Turnover
Turnover is recognised to the extent that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

The amount of turnover can be measured reliably;
It is probable that the Company will receive the consideration due under the contract;
The stage of completion of the contract at the end of the reporting period can be measured reliably;and
The costs incurred and the costs to complete the contract can be measured reliably.

2.4 Tangible fixed assets
Investment property is carried at fair value determined annually by the directors, on the basis of open market value for its current use. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings

2.5 Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or consideration expected to be paid or received.


Flowercroft Limited (Registered number: 07296577)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 26 January 2024

2. ACCOUNTING POLICIES - continued
2.6 Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7 Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.8 Investment property
nvestment property is carried at fair value, determined annually by the directors, on the basis of open market value for its current use. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

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

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

2.11 Creditors
Short-term creditors are measured at 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.

2.12 Finance costs
Finance costs are charged to the Statement of Income and retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


2.13 Borrowing costs
All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

Flowercroft Limited (Registered number: 07296577)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 26 January 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market for the year ended 31 January 2023 is given below:

United Kingdom 100.00%
100.00 %

This analysis is not considered to be applicable to the period ended 26 January 2024.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was as follows:
Period
1.2.23
to Year Ended
26.1.24 31.1.23

Directors 3 3

Period
1.2.23
to Year Ended
26.1.24 31.1.23
£    £   
Directors' remuneration - -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.2.23
to Year Ended
26.1.24 31.1.23
£    £   
Bank loan interest 42,902 25,192

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.2.23
to Year Ended
26.1.24 31.1.23
£    £   
Current tax:
UK corporation tax 18,927 12,262
Tax on profit 18,927 12,262

Flowercroft Limited (Registered number: 07296577)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 26 January 2024

7. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 February 2023
and 26 January 2024 2,475,000
NET BOOK VALUE
At 26 January 2024 2,475,000
At 31 January 2023 2,475,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
26.1.24 31.1.23
£    £   
Trade debtors - 17,045
Other debtors 7,500 -
7,500 17,045

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
26.1.24 31.1.23
£    £   
Amounts owed to group undertakings 788,300 805,331
Tax 31,189 20,652
Other creditors 4,735 4,735
Accruals and deferred income 15,964 30,046
840,188 860,764

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
26.1.24 31.1.23
£    £   
Bank loans (see note 11) 586,961 586,961

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 year 586,961 586,961

11. LOANS

An analysis of the maturity of loans is given below:

26.1.24 31.1.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more than 5 year 586,961 586,961

Flowercroft Limited (Registered number: 07296577)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 26 January 2024

12. PROVISIONS FOR LIABILITIES
26.1.24 31.1.23
£    £   
Deferred tax 156,079 156,079

Deferred
tax
£   
Balance at 1 February 2023 156,079
Balance at 26 January 2024 156,079

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 26.1.24 31.1.23
value: £    £   
1 Ordinary Share £1.00 1 1

14. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 224,579 665,391 889,970
Profit for the period 68,320 68,320
Dividends (57,969 ) (57,969 )
At 26 January 2024 234,930 665,391 900,321

15. IMMEDIATE AND ULTIMATE PARENT UNDERTAKING

The Company's immediate and ultimate parent undertaking at 31 January 2024 and 31 January 2023, by virtue of its shareholding in the Company, was Europride Holdings Limited, a company incorporated in the United Kingdom.

The group in which the results of the Company are consolidated is headed by Europride Holdings Limited. The consolidated accounts of this company are available to the public and may be obtained from:

36-38 Mortimer Street,
London,
W1W7RG