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REGISTERED NUMBER: SC212761 (Scotland)




















Planet Flowers Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024






Planet Flowers Limited (Registered number: SC212761)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Planet Flowers Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: R B Marshall
R A Marshall
D J Marshall
G C Bain



SECRETARY: D J Marshall



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC212761 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
43 Comely Bank
Edinburgh
EH4 1AF



SOLICITORS: Lindsays WS
Caledonian Exchange
19A Canning Street
Edinburgh
EH3 8HE

Planet Flowers Limited (Registered number: SC212761)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 235 473
Tangible assets 5 44,281 54,553
44,516 55,026

CURRENT ASSETS
Stocks 79,667 49,911
Debtors 6 172,472 234,816
Cash at bank 83,935 116,422
336,074 401,149
CREDITORS
Amounts falling due within one year 7 165,816 202,543
NET CURRENT ASSETS 170,258 198,606
TOTAL ASSETS LESS CURRENT LIABILITIES 214,774 253,632

CREDITORS
Amounts falling due after more than one
year

8

(27,645

)

(48,133

)

PROVISIONS FOR LIABILITIES - (1,009 )
NET ASSETS 187,129 204,490

Planet Flowers Limited (Registered number: SC212761)

Balance Sheet - continued
30 September 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 187,029 204,390
SHAREHOLDERS' FUNDS 187,129 204,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:




R B Marshall - Director



D J Marshall - Director


Planet Flowers Limited (Registered number: SC212761)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents net invoiced sales of floral displays for weddings and other events, excluding value added tax.

Revenue is recognised on the date of delivery of the services.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of twenty years. The remaining term on transition to FRS102 was five years.

Trade marks
Trade Marks are intitally recorded at cost and are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold property - in accordance with the property
Plant and machinery etc - 25% on reducing balance, 20% on cost and 10% on cost

Assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind which qualify as basic financial instruments. Basic financial instruments are recongnised at transaction value and subsequently measured at settlement value.

All loans with related parties are repayable on demand.


Planet Flowers Limited (Registered number: SC212761)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

Planet Flowers Limited (Registered number: SC212761)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 2,500 2,378 4,878
AMORTISATION
At 1 October 2023 2,500 1,905 4,405
Charge for year - 238 238
At 30 September 2024 2,500 2,143 4,643
NET BOOK VALUE
At 30 September 2024 - 235 235
At 30 September 2023 - 473 473

5. TANGIBLE FIXED ASSETS
Plant and
Leasehold machinery
property etc Totals
£    £    £   
COST
At 1 October 2023 3,909 72,526 76,435
Additions 3,650 - 3,650
At 30 September 2024 7,559 72,526 80,085
DEPRECIATION
At 1 October 2023 117 21,765 21,882
Charge for year 1,260 12,662 13,922
At 30 September 2024 1,377 34,427 35,804
NET BOOK VALUE
At 30 September 2024 6,182 38,099 44,281
At 30 September 2023 3,792 50,761 54,553

Leasehold property includes expenditures related to property improvements, with a depreciation rate set at six years on a straight-line basis.

Planet Flowers Limited (Registered number: SC212761)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 46,900
DEPRECIATION
At 1 October 2023 977
Charge for year 11,481
At 30 September 2024 12,458
NET BOOK VALUE
At 30 September 2024 34,442
At 30 September 2023 45,923

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,402 26,643
Amounts owed by group undertakings 151,043 176,796
Other debtors 9,027 31,377
172,472 234,816

Planet Flowers Limited (Registered number: SC212761)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 10,489 10,489
Trade creditors 38,272 50,263
Amounts owed to group undertakings - 63,535
Amounts owed to associates 15,157 4,489
Taxation and social security 26,911 35,621
Other creditors 64,987 28,146
165,816 202,543

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,667 16,667
Hire purchase contracts (see note 9) 20,978 31,466
27,645 48,133

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,489 10,489
Between one and five years 20,978 31,466
31,467 41,955

Non-cancellable operating leases
2024 2023
£    £   
Within one year 22,490 24,295
Between one and five years 55,000 77,000
77,490 101,295