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Wiltshires Florist Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

Registration number: 05417628

 

Wiltshires Florist Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Wiltshires Florist Limited

(Registration number: 05417628)
Statement of financial position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

72,500

72,500

Tangible assets

6

13,586

16,988

 

86,086

89,488

Current assets

 

Stocks

7

2,169

2,267

Debtors

8

17,723

75,477

Cash at bank and in hand

 

243

200

 

20,135

77,944

Creditors: Amounts falling due within one year

9

(135,788)

(160,268)

Net current liabilities

 

(115,653)

(82,324)

Total assets less current liabilities

 

(29,567)

7,164

Creditors: Amounts falling due after more than one year

9

(41,074)

(50,422)

Provisions for liabilities

-

(3,228)

Net liabilities

 

(70,641)

(46,486)

Capital and reserves

 

Called up share capital

10

1,000

1,000

Retained earnings

(71,641)

(47,486)

Shareholders' deficit

 

(70,641)

(46,486)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................

Mr P Wiltshire
Director

 

Wiltshires Florist Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Northside Nursery
Balcombe Road
Crawley
West Sussex
RH10 3NQ

These financial statements were authorised for issue by the Board on 25 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised in the same period as any underlying expenditure. During the year the entity was in receipt of grant funds from the Job Retention Scheme. Income from the JRS is recognised in the same period as the underlying salary expenses.

 

Wiltshires Florist Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings fixtures and equipment

20% reducing balance

Motor vehicles

20% reducing balance

Computer equipment

33% reducing balance

Goodwill

The goodwill was acquired in April 2005 and has not been amortised but is subject to annual impairment reviews by the directors.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Wiltshires Florist Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

Wiltshires Florist Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

3,402

4,255

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

72,500

72,500

At 30 April 2024

72,500

72,500

Amortisation

Carrying amount

At 30 April 2024

72,500

72,500

At 30 April 2023

72,500

72,500

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

6,949

42,530

49,479

At 30 April 2024

6,949

42,530

49,479

Depreciation

At 1 May 2023

6,801

25,690

32,491

Charge for the year

34

3,368

3,402

At 30 April 2024

6,835

29,058

35,893

Carrying amount

At 30 April 2024

114

13,472

13,586

At 30 April 2023

148

16,840

16,988

7

Stocks

2024
£

2023
£

Other inventories

2,169

2,267

 

Wiltshires Florist Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Debtors

Current

2024
£

2023
£

Other debtors

17,723

75,477

 

17,723

75,477

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

42,870

38,406

Trade creditors

 

63,274

80,989

Taxation and social security

 

18,733

37,901

Accruals and deferred income

 

2,500

2,500

Other creditors

 

8,411

472

 

135,788

160,268

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

41,074

50,422

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 shares of £1 each

1,000

1,000

1,000

1,000

       
 

Wiltshires Florist Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

35,741

39,755

Finance lease liabilities

5,333

10,667

41,074

50,422

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

9,999

Bank overdrafts

9,699

7,407

Finance lease liabilities

5,333

5,333

Other borrowings

17,838

15,667

42,870

38,406