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Registration number: 10340447

UK Franchise Partnership Limited

trading as Floral Image North East

Annual Report and Unaudited Financial Statements

For The Period from 1 November 2023 to 31 December 2024

 

UK Franchise Partnership Limited

trading as Floral Image North East

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

UK Franchise Partnership Limited

trading as Floral Image North East

(Registration number: 10340447)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

5

 

14,571

 

32,536

Current assets

   

 

Debtors

6

9,801

 

10,806

 

Cash at bank and in hand

 

8,271

 

403

 

 

18,072

 

11,209

 

Creditors: Amounts falling due within one year

7

(93,154)

 

(111,153)

 

Net current liabilities

   

(75,082)

 

(99,944)

Total assets less current liabilities

   

(60,511)

 

(67,408)

Creditors: Amounts falling due after more than one year

7

 

(19,425)

 

(29,441)

Net liabilities

   

(79,936)

 

(96,849)

Capital and reserves

   

 

Called up share capital

4

 

4

 

Profit and loss account

(79,940)

 

(96,853)

 

Total equity

   

(79,936)

 

(96,849)

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 June 2025
 

.........................................
Mr O.D. Mynard
Director

 

UK Franchise Partnership Limited

trading as Floral Image North East

Notes to the Unaudited Financial Statements For The Period from 1 November 2023 to 31 December 2024

1

General information

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

The address of its registered office is:
11 Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH
England

These financial statements were authorised for issue by the director on 11 June 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.

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 value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

UK Franchise Partnership Limited

trading as Floral Image North East

Notes to the Unaudited Financial Statements For The Period from 1 November 2023 to 31 December 2024

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

Plant and machinery

25% Straight line

Motor vehicles

25% Reducing balance

Computer equipment

33% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight line

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 profit and loss account 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 balance sheet as a finance lease obligation.

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

 

UK Franchise Partnership Limited

trading as Floral Image North East

Notes to the Unaudited Financial Statements For The Period from 1 November 2023 to 31 December 2024

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

10,000

10,000

At 31 December 2024

10,000

10,000

Amortisation

At 1 November 2023

10,000

10,000

At 31 December 2024

10,000

10,000

Carrying amount

At 31 December 2024

-

-

 

UK Franchise Partnership Limited

trading as Floral Image North East

Notes to the Unaudited Financial Statements For The Period from 1 November 2023 to 31 December 2024

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

1,172

28,474

128,778

158,424

Disposals

-

(16,774)

-

(16,774)

At 31 December 2024

1,172

11,700

128,778

141,650

Depreciation

At 1 November 2023

884

15,106

109,898

125,888

Charge for the period

288

1,851

9,245

11,384

Eliminated on disposal

-

(10,193)

-

(10,193)

At 31 December 2024

1,172

6,764

119,143

127,079

Carrying amount

At 31 December 2024

-

4,936

9,635

14,571

At 31 October 2023

288

13,368

18,880

32,536

6

Debtors

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

8,821

9,489

Prepayments

890

1,082

Other debtors

90

235

 

9,801

10,806

 

UK Franchise Partnership Limited

trading as Floral Image North East

Notes to the Unaudited Financial Statements For The Period from 1 November 2023 to 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

6,060

16,997

Trade creditors

35,080

47,432

Taxation and social security

1,973

3,311

Other creditors

50,041

43,413

93,154

111,153

Creditors: amounts falling due after more than one year

Loans and borrowings

19,425

29,441

The company is related to OM Flowers Limited by virtue of the common shareholding of Mr O.D. Mynard.

Other creditors include a loan from OM Flowers Limited in the amount of £1,500 (2023 £nil). The loan is interest free, unsecured and repayable on demand.