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Registration number: 10220473

OM Flowers Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 December 2024

 

OM Flowers Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

OM Flowers Ltd

(Registration number: 10220473)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

39,309

 

52,412

Tangible assets

5

 

9,217

 

9,557

Investments

6

 

76,886

 

76,836

   

125,412

 

138,805

Current assets

   

 

Stocks

7

48,770

 

50,601

 

Debtors

8

108,668

 

119,498

 

Cash at bank and in hand

 

85,238

 

89,352

 

 

242,676

 

259,451

 

Creditors: Amounts falling due within one year

9

(94,624)

 

(144,236)

 

Net current assets

   

148,052

 

115,215

Total assets less current liabilities

   

273,464

 

254,020

Creditors: Amounts falling due after more than one year

9

 

(27,527)

 

(16,351)

Provisions for liabilities

 

(2,304)

 

(1,174)

Net assets

   

243,633

 

236,495

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

243,533

 

236,395

 

Total equity

   

243,633

 

236,495

 

OM Flowers Ltd

(Registration number: 10220473)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

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

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Year Ended 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:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

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.

Group accounts not prepared

The Company, as a parent company of a small group, is not required to prepare group accounts by virtue of the exemption within s399 Companies Act 2006.

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.

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.

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.

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

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.

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

Office equipment

25% straight line

Motor vehicles

25% 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

Amortisation

20% Straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

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.

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 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 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.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 10 (2023 - 7).

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

65,515

65,515

At 31 December 2024

65,515

65,515

Amortisation

At 1 January 2024

13,103

13,103

Amortisation charge

13,103

13,103

At 31 December 2024

26,206

26,206

Carrying amount

At 31 December 2024

39,309

39,309

At 31 December 2023

52,412

52,412

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

6,173

23,615

29,788

Additions

2,781

-

2,781

At 31 December 2024

8,954

23,615

32,569

Depreciation

At 1 January 2024

3,981

16,250

20,231

Charge for the year

1,280

1,841

3,121

At 31 December 2024

5,261

18,091

23,352

Carrying amount

At 31 December 2024

3,693

5,524

9,217

At 31 December 2023

2,192

7,365

9,557

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

76,886

76,836

Subsidiaries

£

Cost or valuation

At 1 January 2024

76,836

Additions

50

At 31 December 2024

76,886

Provision

Carrying amount

At 31 December 2024

76,886

At 31 December 2023

76,836

7

Stocks

2024
£

2023
£

Other inventories

48,770

50,601

8

Debtors

Due within one year

2024
£

2023
£

Trade debtors

69,129

65,625

Amounts owed by group undertakings

34,369

51,919

Prepayments

3,670

1,954

Other debtors

1,500

-

 

108,668

119,498

The company is related to UK Franchise Partnership Limited by virtue of the common shareholding of Mr O.D. Mynard.

Other debtors include a loan to UK Franchise Partnership Limited in the amount of £1,500 (2023 £nil). The loan is interest free, unsecured and repayable on demand.

 

OM Flowers Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

9

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

10,340

11,198

Trade creditors

9,431

4,424

Taxation and social security

45,104

72,858

Other creditors

29,749

55,756

94,624

144,236

Due after one year

Loans and borrowings

27,527

16,351

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £19,167 (2023 - £30,667). Financial commitments comprise £19,167 relating to operating lease commitments expiring in October 2026.