| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Flora Drainage Products Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Flora Drainage Products Ltd |
| Flora Drainage Products Ltd (Registered number: 11519688) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Certified Accountant's Report | 6 |
| Flora Drainage Products Ltd |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| Kelyn |
| Old Hill |
| Helston |
| Cornwall |
| TR13 8HT |
| Flora Drainage Products Ltd (Registered number: 11519688) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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 were approved by the director and authorised for issue on |
| Flora Drainage Products Ltd (Registered number: 11519688) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Flora Drainage Products Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| Flora Drainage Products Ltd (Registered number: 11519688) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Research and development |
| Expenditure on research and development is recognised as an expense in the year in which it is incurred. |
| In the event that an internally generated intangible asset arises from the company's development activities then it will be recognised only if all of the following conditions are met: |
| - an asset is created that can be identified (such as a distinct product); |
| - the project from which the asset arises meets the company's criteria for assessing technical feasibility; |
| - it is probable that the asset created will generate future economic benefits; and |
| - the development costs for the asset can be measured reliably. |
| Internally generated intangible assets are amortised on a straight line basis over its useful lives. Where no internally generated intangible asset can be recognised, the development expenditure is recognised as an expense in the period in which it is incurred. |
| Research and development expenditure capitalised in accordance with the above policy is amortised over the expected life of the project. |
| Going concern |
| At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the director that he will continue to give financial support to the company for twelve months from the date of signing these financial statements. |
| On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not continue to be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. These accounts do not include any adjustment to the company's assets or liabilities which might be necessary should this basis not continue to be appropriate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| Flora Drainage Products Ltd (Registered number: 11519688) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| The Directors Loan Account is non-interest bearing and repayable upon demand. |
| 7. | GOING CONCERN |
| The company is currently engaged in research and development activities and being supported by the Director. |
| The Director intends to support the company financially for the foreseeable future. |
| Chartered Certified Accountant's Report to the Director |
| on the Unaudited Financial Statements of |
| Flora Drainage Products Ltd |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Flora Drainage Products Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given me. |
| As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the director of Flora Drainage Products Ltd in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Flora Drainage Products Ltd and state those matters that I have agreed to state to the director of Flora Drainage Products Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
| https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. |
| To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report. |
| It is your duty to ensure that Flora Drainage Products Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Flora Drainage Products Ltd. You consider that Flora Drainage Products Ltd is exempt from the statutory audit requirement for the year. |
| I have not been instructed to carry out an audit or a review of the financial statements of Flora Drainage Products Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
| Kelyn |
| Old Hill |
| Helston |
| Cornwall |
| TR13 8HT |