Cornish Blooms Limited 12834893 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is retail of flowers and plants Digita Accounts Production Advanced 6.30.9574.0 true 12834893 2023-09-01 2024-08-31 12834893 2024-08-31 12834893 bus:OrdinaryShareClass1 2024-08-31 12834893 core:CurrentFinancialInstruments 2024-08-31 12834893 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12834893 core:Goodwill 2024-08-31 12834893 core:FurnitureFittingsToolsEquipment 2024-08-31 12834893 core:LandBuildings 2024-08-31 12834893 core:MotorVehicles 2024-08-31 12834893 core:OtherPropertyPlantEquipment 2024-08-31 12834893 1 2024-08-31 12834893 bus:SmallEntities 2023-09-01 2024-08-31 12834893 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12834893 bus:FilletedAccounts 2023-09-01 2024-08-31 12834893 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12834893 bus:RegisteredOffice 2023-09-01 2024-08-31 12834893 bus:Director1 2023-09-01 2024-08-31 12834893 bus:Director2 2023-09-01 2024-08-31 12834893 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12834893 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12834893 bus:Agent1 2023-09-01 2024-08-31 12834893 core:Goodwill 2023-09-01 2024-08-31 12834893 core:FurnitureFittings 2023-09-01 2024-08-31 12834893 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 12834893 core:LandBuildings 2023-09-01 2024-08-31 12834893 core:MotorVehicles 2023-09-01 2024-08-31 12834893 core:OfficeEquipment 2023-09-01 2024-08-31 12834893 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 12834893 countries:EnglandWales 2023-09-01 2024-08-31 12834893 1 2023-09-01 2024-08-31 12834893 2023-08-31 12834893 core:Goodwill 2023-08-31 12834893 core:FurnitureFittingsToolsEquipment 2023-08-31 12834893 core:LandBuildings 2023-08-31 12834893 core:MotorVehicles 2023-08-31 12834893 core:OtherPropertyPlantEquipment 2023-08-31 12834893 1 2023-08-31 12834893 2022-09-01 2023-08-31 12834893 2023-08-31 12834893 bus:OrdinaryShareClass1 2023-08-31 12834893 core:CurrentFinancialInstruments 2023-08-31 12834893 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12834893 core:Goodwill 2023-08-31 12834893 core:FurnitureFittingsToolsEquipment 2023-08-31 12834893 core:LandBuildings 2023-08-31 12834893 core:MotorVehicles 2023-08-31 12834893 core:OtherPropertyPlantEquipment 2023-08-31 12834893 1 2023-08-31 12834893 1 2022-09-01 2023-08-31 12834893 1 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12834893

Cornish Blooms Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Cornish Blooms Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Cornish Blooms Limited

Company Information

Directors

Mr S A P Hillyard

Mrs B J O Hillyard

Registered office

The Flower Barn
Little Drym
Praze
Camborne
Cornwall
TR14 0NU

Accountants

D.J. Reynolds & Co 15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Cornish Blooms Limited

(Registration number: 12834893)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

15,000

17,500

Tangible assets

5

69,603

80,602

 

84,603

98,102

Current assets

 

Stocks

6

12,000

3,000

Debtors

7

25,660

4,479

Cash at bank and in hand

 

160,209

92,577

 

197,869

100,056

Creditors: Amounts falling due within one year

8

(58,894)

(33,551)

Net current assets

 

138,975

66,505

Total assets less current liabilities

 

223,578

164,607

Provisions for liabilities

(18,254)

(5,208)

Net assets

 

205,324

159,399

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

205,224

159,299

Shareholders' funds

 

205,324

159,399

For the financial year ending 31 August 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 8 July 2025 and signed on its behalf by:
 

.........................................
Mr S A P Hillyard
Director

.........................................
Mrs B J O Hillyard
Director

 
     
 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
The Flower Barn
Little Drym
Praze
Camborne
Cornwall
TR14 0NU

These financial statements were authorised for issue by the Board on 8 July 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 (as applicable to companies subject to the small companies' regime).

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.

The presentation currency is pounds sterling £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Website

25% straight line

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

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

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 8 (2023 - 6).

 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

25,000

25,000

At 31 August 2024

25,000

25,000

Amortisation

At 1 September 2023

7,500

7,500

Amortisation charge

2,500

2,500

At 31 August 2024

10,000

10,000

Carrying amount

At 31 August 2024

15,000

15,000

At 31 August 2023

17,500

17,500

 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

32,956

32,169

42,888

1,561

109,574

Additions

-

997

-

220

1,217

At 31 August 2024

32,956

33,166

42,888

1,781

110,791

Depreciation

At 1 September 2023

-

15,831

12,526

615

28,972

Charge for the year

-

4,334

7,591

291

12,216

At 31 August 2024

-

20,165

20,117

906

41,188

Carrying amount

At 31 August 2024

32,956

13,001

22,771

875

69,603

At 31 August 2023

32,956

16,338

30,362

946

80,602

Included within the net book value of land and buildings above is £32,956 (2023 - £32,956) in respect of freehold land and buildings.
 

 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Stocks

2024
£

2023
£

Other inventories

12,000

3,000

7

Debtors

Current

2024
£

2023
£

Other debtors

25,660

4,479

 

25,660

4,479

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

-

89

Taxation and social security

 

56,067

30,802

Accruals and deferred income

 

2,508

2,395

Other creditors

 

319

265

 

58,894

33,551

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

Cornish Blooms Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

89

11

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to directors
£

Repayments by directors
£

At 31 August 2024
£

Interest-free loan to the directors, repayable on demand

4,479

91,465

(70,284)

25,660

 

2023

At 1 September 2022
£

Advances to directors
£

Repayments by directors
£

At 31 August 2023
£

Interest-free loan to the directors, repayable on demand

(9,457)

88,197

(74,261)

4,479