Company registration number 06948413 (England and Wales)
FLORENSIS FLOWER SEEDS UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FLORENSIS FLOWER SEEDS UK LIMITED
COMPANY INFORMATION
Directors
A J Shepherd
W T Billings
Company number
06948413
Registered office
Milton Road
West Adderbury
Banbury
Oxfordshire
OX17 3EY
Auditor
Whitley Stimpson Limited
Penrose House
67 Hightown Road
Banbury
Oxfordshire
OX16 9BE
FLORENSIS FLOWER SEEDS UK LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 19
FLORENSIS FLOWER SEEDS UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present the strategic report for the year ended 30 September 2024.

Business review

On 31 December 2022, the company ceased trading following a change in trading arrangements within the Ball Horticultural worldwide group.

Going concern

On 31 December 2022, the company ceased trading following a change in trading arrangements within the worldwide group. As a result, the financial statements have been prepared on a basis other than going concern as the directors intend to liquidate the entity.

 

Assets and liabilities have been restated at their estimated realisable or settlement value.

On behalf of the board

A J Shepherd
Director
15 May 2025
FLORENSIS FLOWER SEEDS UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A J Shepherd
W T Billings
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Matters covered in the strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments and financial risk management.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
A J Shepherd
Director
15 May 2025
FLORENSIS FLOWER SEEDS UK LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

The directors are responsible for preparing the annual 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 these financial statements, the directors are required to:

 

 

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.

FLORENSIS FLOWER SEEDS UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF FLORENSIS FLOWER SEEDS UK LIMITED
- 4 -
Opinion

We have audited the financial statements of Florensis Flower Seeds UK Limited (the 'company') for the year ended 30 September 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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:

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 Auditor's 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.

Emphasis of matter - Non-going concern basis of accounting

We draw attention to note 1.2 of the financial statements which describes the preparation of the financial statements on a non-going concern basis. As described in note 1, the company ceased trading on 31 December 2022 following a change in trading arrangements within the worldwide group to which it belongs and the directors have concluded that it is no longer appropriate to prepare the financial statements on a going concern basis. There have been no adjustments made to the financial statements as a result of the application of the non-going concern basis of accounting. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

FLORENSIS FLOWER SEEDS UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF FLORENSIS FLOWER SEEDS UK LIMITED (CONTINUED)
- 5 -
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 strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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.

Auditor's 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 an auditor's report 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.

 

Based on our understanding of the group and industry, we identified that the principal risks of non-compliance with laws and regulations related to the risk of revenue recognition being materially misstated due to fraud. We considered the extent to which non-compliance might have a material effect on the financial statements, and considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006 and tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks related to income.

FLORENSIS FLOWER SEEDS UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF FLORENSIS FLOWER SEEDS UK LIMITED (CONTINUED)
- 6 -

Audit procedures performed included:

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's report 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 member, for our audit work, for this report, or for the opinions we have formed.

15 May 2025
Laura Adkins
Senior Statutory Auditor
For and on behalf of Whitley Stimpson Limited
Chartered Accountants
Statutory Auditor
Penrose House
67 Hightown Road
Banbury
Oxfordshire
OX16 9BE
FLORENSIS FLOWER SEEDS UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
2024
2023
Notes
£000
£000
Turnover
3
-
656
Cost of sales
-
0
(544)
Gross profit
-
112
Administrative expenses
(6)
(123)
Operating loss
7
(6)
(11)
Interest receivable and similar income
8
625
365
Amounts written off investments
9
-
(101)
Profit before taxation
619
253
Tax on profit
10
(156)
(63)
Profit for the financial year
463
190
FLORENSIS FLOWER SEEDS UK LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 8 -
2024
2023
Notes
£000
£000
£000
£000
Fixed assets
Tangible assets
11
1
5
Current assets
Debtors
12
121
26
Cash at bank and in hand
11,767
11,259
11,888
11,285
Creditors: amounts falling due within one year
13
(451)
(315)
Net current assets
11,437
10,970
Net assets
11,438
10,975
Capital and reserves
Called up share capital
15
10
10
Profit and loss reserves
11,428
10,965
Total equity
11,438
10,975
The financial statements were approved by the board of directors and authorised for issue on 15 May 2025 and are signed on its behalf by:
A J Shepherd
Director
Company registration number 06948413 (England and Wales)
FLORENSIS FLOWER SEEDS UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
Share capital
Profit and loss reserves
Total
£000
£000
£000
Balance at 1 October 2022
10
10,775
10,785
Year ended 30 September 2023:
Profit and total comprehensive income
-
190
190
Balance at 30 September 2023
10
10,965
10,975
Year ended 30 September 2024:
Profit and total comprehensive income
-
463
463
Balance at 30 September 2024
10
11,428
11,438
FLORENSIS FLOWER SEEDS UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
2024
2023
Notes
£000
£000
£000
£000
Cash flows from operating activities
Cash (absorbed by)/generated from operations
18
(112)
1,465
Income taxes paid
(5)
(142)
Net cash (outflow)/inflow from operating activities
(117)
1,323
Investing activities
Proceeds from disposal of tangible fixed assets
-
0
6
Amounts written off of investments
-
0
(101)
Interest received
625
365
Net cash generated from investing activities
625
270
Financing activities
Amounts written off of investments
-
0
101
Net cash (used in)/generated from financing activities
-
101
Net increase in cash and cash equivalents
508
1,694
Cash and cash equivalents at beginning of year
11,259
9,565
Cash and cash equivalents at end of year
11,767
11,259
FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
1
Accounting policies
Company information

Florensis Flower Seeds UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Milton Road, West Adderbury, Banbury, Oxfordshire, OX17 3EY.

1.1
Accounting convention

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.

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 £000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

On 31 December 2022, the company ceased trading following a change in trading arrangements within the Ball Horticultural worldwide group. As a result, the financial statements have been prepared on a basis other than going concern as the directors intend to liquidate the entity.

 

Assets and liabilities have been restated at their estimated realisable or settlement value.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 12 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 13 -
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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
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.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.10
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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

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.

Critical judgements

There are not considered to be any judgements which would have a significant impact on amounts if included in the financial statements.

3
Turnover and other revenue
2024
2023
£000
£000
Turnover analysed by class of business
-
656
2024
2023
£000
£000
Turnover analysed by geographical market
United Kingdom
-
656
2024
2023
£000
£000
Other revenue
Interest income
625
365
FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
4
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£000
£000
For audit services
Audit of the financial statements of the company
-
0
10
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Administration
-
0
3

Their aggregate remuneration comprised:

2024
2023
£000
£000
Wages and salaries
-
0
136
Social security costs
-
16
Pension costs
-
0
6
-
0
158
6
Directors' remuneration
2024
2023
£000
£000
Remuneration for qualifying services
-
0
76

During the year, no retirement benefits were accruing to directors in respect of defined contribution pension schemes (2023 - £nil).

7
Operating loss
2024
2023
Operating loss for the year is stated after charging/(crediting):
£000
£000
Exchange losses/(gains)
1
(1)
Depreciation of owned tangible fixed assets
4
4
Profit on disposal of tangible fixed assets
-
(6)
FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
8
Interest receivable and similar income
2024
2023
£000
£000
Interest income
Interest on bank deposits
212
161
Interest receivable from group companies
413
204
Total income
625
365
2024
2023
Investment income includes the following:
£000
£000
Interest on financial assets not measured at fair value through profit or loss
625
365
9
Amounts written off investments
2024
2023
£000
£000
Fair value gains/(losses) on financial instruments
Gain/(loss) on financial assets held at fair value through profit or loss
-
0
(101)
10
Taxation
2024
2023
£000
£000
Current tax
UK corporation tax on profits for the current period
156
55
Deferred tax
Origination and reversal of timing differences
-
0
8
Total tax charge
156
63

In the Spring Budget 2021, the Government announced an increase in the main UK corporation tax rate from 19% to 25% with effect from 1 April 2023. The change in rate was substantively enacted on 24 May 2021. Deferred tax has been calculated at 25% which was the tax rate substantively enacted at 30 September 2023.

 

For accounting periods that straddle 1 April 2023, company profits/losses arising in an accounting period are apportioned between financial years in which the accounting period falls.

FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10
Taxation
(Continued)
- 17 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£000
£000
Profit before taxation
619
253
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.00%)
155
56
Depreciation on assets not qualifying for tax allowances
1
7
Taxation charge for the year
156
63
11
Tangible fixed assets
Computers
Motor vehicles
Total
£000
£000
£000
Cost
At 1 October 2023 and 30 September 2024
4
22
26
Depreciation and impairment
At 1 October 2023
3
18
21
Depreciation charged in the year
-
0
4
4
At 30 September 2024
3
22
25
Carrying amount
At 30 September 2024
1
-
0
1
At 30 September 2023
1
4
5
12
Debtors
2024
2023
Amounts falling due within one year:
£000
£000
Trade debtors
-
0
14
Amounts owed by group undertakings
115
-
0
Prepayments and accrued income
6
12
121
26

During the year, an impairment loss of £1,000 (2023: £79,000 impairment reversal) was recognised respect of trade receivables due from customers and recorded in administrative expenses per the statement of comprehensive income.

FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 18 -
13
Creditors: amounts falling due within one year
2024
2023
£000
£000
Trade creditors
3
-
0
Amounts owed to group undertakings
238
235
Corporation tax
176
25
Other taxation and social security
-
0
11
Other creditors
1
5
Accruals and deferred income
33
39
451
315
14
Retirement benefit schemes
2024
2023
Defined contribution schemes
£000
£000
Charge to profit or loss in respect of defined contribution schemes
-
6

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

15
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£000
£000
Issued and fully paid
Ordinary A shares of £1 each
6,670
6,670
7
7
Ordinary B shares of £1 each
3,330
3,330
3
3
10,000
10,000
10
10

Ordinary A and ordinary B shares rank pari passu in all respects.

 

There are no restrictions on dividends and the repayment of capital.

16
Related party transactions

During the year ended 30 September 2024 the company made purchases of £nil (2023 - £308,000) from Florensis BV, 20% associate of the wider international group.

 

There was nil owed to Florensis BV at year end (2023 - £nil).

 

FLORENSIS FLOWER SEEDS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 19 -
17
Ultimate controlling party

The ultimate parent company and the ultimate controlling party is Ball Horticultural Company Inc, a company incorporated in the United States of America.

 

Ball Horticultural Company Inc, is the parent company of the largest and smallest group of which the company is a member and for which group financial statements are drawn up. The principal place of business for Ball Horticultural Company Inc. is at 622 Town Road, West Chicago, Illinois, 60185-2698, U.S.A. The consolidated accounts are not available to the public.

18
Cash (absorbed by)/generated from operations
2024
2023
£000
£000
Profit for the year after tax
463
190
Adjustments for:
Taxation charged
156
63
Investment income
(625)
(365)
Gain on disposal of tangible fixed assets
-
(6)
Depreciation and impairment of tangible fixed assets
4
4
Other gains and losses
-
101
Movements in working capital:
Decrease in stocks
-
0
43
(Increase)/decrease in debtors
(95)
2,387
Decrease in creditors
(15)
(952)
Cash (absorbed by)/generated from operations
(112)
1,465
19
Analysis of changes in net funds
1 October 2023
Cash flows
30 September 2024
£000
£000
£000
Cash at bank and in hand
11,259
508
11,767
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