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Registered number: 02223330







FLEURETS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
FLEURETS LIMITED
 

COMPANY INFORMATION


Directors
J. J. P. Davies 
S. M. Hall 
P. C. Hardwick 
D. C. Sutcliffe 
A. M. Frisby 
K. M. Conibear 




Registered number
02223330



Registered office
20-22 Bedford Row

London

WC1R 4EB





 
FLEURETS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
FLEURETS LIMITED
REGISTERED NUMBER: 02223330

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
52,431
75,589

Current assets
  

Debtors: amounts falling due within one year
 5 
2,456,829
2,539,329

Cash at bank and in hand
  
86,926
285,941

  
2,543,755
2,825,270

Creditors: amounts falling due within one year
 6 
(425,432)
(517,319)

Net current assets
  
 
 
2,118,323
 
 
2,307,951

Total assets less current liabilities
  
2,170,754
2,383,540

Provisions for liabilities
  

Deferred tax
 7 
(17,855)
(17,855)

Net assets
  
2,152,899
2,365,685


Capital and reserves
  

Allotted, called up and fully paid share capital
  
132,478
132,478

Capital redemption reserve
 8 
51,027
51,027

Profit and loss account
 8 
1,969,394
2,182,180

Equity shareholders' funds
  
2,152,899
2,365,685


Page 1

 
FLEURETS LIMITED
REGISTERED NUMBER: 02223330

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
2 June 2025




P. C. Hardwick
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Fleurets Limited (Company number: 02223330), having its registered office and principal place of business at 20-22 Bedford Row, London, WC1R 4EB, is a private limited company incorporated in England and Wales. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Statement of Cash Flows

The Company has taken advantage of the exemption in Financial Reporting Standard 102 Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

Going concern

At the Balance Sheet date of 30 September 2024, the Company made a loss for the year of £212,786 (2023: £383,135) and had net assets at that date of £2,152,899 (2023: £2,365,685). The Company has cash reserves of £86,926 as at the year end. The Company's turnover has decreased from the prior year, which is a result of the UK economy and the everchanging conditions affecting businesses. The leisure and hospitality sectors, being the sectors in which the Company specialises, have been particularly affected. 
The Directors believe that the Company will be able to continue in business and meet its liabilities as they fall due for the forseeable future from the date of approval of the financial statements. 

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
10-33% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 4

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.8

Financial Instruments

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
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.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

 
2.11

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 32 (2023 - 41).

Page 6

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Fixtures & fittings

£



Cost 


At 1 October 2023
442,994


Additions
8,140


Disposals
(78,038)



At 30 September 2024

373,096



Depreciation


At 1 October 2023
367,405


Charge for the year
30,706


Disposals
(77,446)



At 30 September 2024

320,665



Net book value



At 30 September 2024
52,431



At 30 September 2023
75,589


5.


Debtors

2024
2023
£
£

Due within one year

Trade debtors
391,677
435,680

Amounts owed by group undertakings
1,850,532
1,820,856

Other debtors
67,163
103,713

Prepayments and accrued income
147,457
179,080

2,456,829
2,539,329


Page 7

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
38,196
49,961

Other taxation and social security
170,311
210,040

Other creditors
132,471
166,335

Accruals and deferred income
84,454
90,983

425,432
517,319



7.


Deferred taxation






2023
£






At beginning of year
(17,855)



At end of year
(17,855)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(17,855)
(17,855)


8.


Reserves

Capital redemption reserve

The capital redemption reserve relates to the repurchase of shares in 2010, which is a non-distributable reserve. 

Profit and loss account

The profit and loss reserve relates to the retained realised gains and losses, which is a distributable reserve.
Page 8

 
FLEURETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents the contributions payable by the Company to the fund and amounted to £45,388 (2023: £55,176)
Contributions totaling £14,428 (
2023: £20,600) were payable to the fund at the Balance Sheet date and are included in creditors.


10.


Related party transactions

The Company has taken advantage of Section 33.1A of FRS 102 in not disclosing transactions between
wholly-owned members of a group.


11.


Ultimate parent undertaking

The Company is a wholly-owned subsidiary of Fleurets Holdings Limited, a company registered in England and Wales.
As at 30 September 2024 and 30 September 2023 there was no single ultimate controlling party. 


Page 9