Company registration number 07906162 (England and Wales)
MOYSES STEVENS FLOWERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
MOYSES STEVENS FLOWERS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MOYSES STEVENS FLOWERS LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,000
1,500
Tangible assets
4
106,461
97,032
107,461
98,532
Current assets
Stocks
855,537
850,000
Debtors
5
1,727,032
1,663,630
Cash at bank and in hand
232,054
178,109
2,814,623
2,691,739
Creditors: amounts falling due within one year
6
(2,879,845)
(2,316,332)
Net current (liabilities)/assets
(65,222)
375,407
Total assets less current liabilities
42,239
473,939
Creditors: amounts falling due after more than one year
7
(147,476)
(492,068)
Net liabilities
(105,237)
(18,129)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(105,239)
(18,131)
Total equity
(105,237)
(18,129)
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
MOYSES STEVENS FLOWERS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 July 2025
S Marcinko
Director
Company registration number 07906162 (England and Wales)
MOYSES STEVENS FLOWERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Moyses Stevens Flowers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 188 Pavilion Road, London, SW3 2BF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date, the financial statements show that the company has liabilities in excess of assets of £105,237 (2023: £18,129) as a result of losses made to date. The financial statements have been prepared on a going concern basis as the director has confirmed that he will continue to support the company for the foreseeable future and meet the excess liabilities if the company is unable to do so.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.4
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
20% residual value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
MOYSES STEVENS FLOWERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
MOYSES STEVENS FLOWERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
69
41
MOYSES STEVENS FLOWERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
10,000
Amortisation and impairment
At 1 February 2023
8,500
Amortisation charged for the year
500
At 31 January 2024
9,000
Carrying amount
At 31 January 2024
1,000
At 31 January 2023
1,500
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023
209,851
Additions
48,767
At 31 January 2024
258,618
Depreciation and impairment
At 1 February 2023
112,819
Depreciation charged in the year
39,338
At 31 January 2024
152,157
Carrying amount
At 31 January 2024
106,461
At 31 January 2023
97,032
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
913,675
650,001
Other debtors
813,357
1,013,629
1,727,032
1,663,630
MOYSES STEVENS FLOWERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
469,876
471,974
Trade creditors
1,432,189
1,145,130
Corporation tax
110,430
110,365
Other taxation and social security
679,791
432,977
Other creditors
187,559
155,886
2,879,845
2,316,332
Included in other creditors are current hire purchase obligations amounting to £31,744 (2023: £36,603). The hire purchase liabilities are secured over the fixed assets to which they relate.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
112,124
425,331
Other creditors
35,352
66,737
147,476
492,068
Other creditors include £35,352 (2023: £66,737) relating to non-current hire purchase obligations which are secured against the financed assets to which they relate.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
9
Related party transactions
Included within other debtors is a balance of £407,520 (2023: 367,854) owed by the director. Interest of £8,657 (2023: £0) was charged during the year.
MOYSES STEVENS FLOWERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
10
Prior period adjustment
1 February
31 January
2022
2023
£
£
Adjustments to prior year
Change in sales of goods
-
(165,244)
Change in stock
-
184,418
Change in administrative expenses
-
(301,409)
Change in finance costs
-
(43,621)
Change in retained earnings
-
446,235
Total adjustments
-
120,379
Equity as previously reported
(151,963)
(138,508)
Equity as adjusted
(151,963)
(18,129)
Analysis of the effect upon equity
Profit and loss reserves
-
120,379
Reconciliation of changes in profit/(loss) for the previous financial period
2023
£
Adjustments to prior year
Change in sales of goods
(165,244)
Change in stock
184,418
Change in administrative expenses
(301,409)
Change in finance costs
(43,620)
Total adjustments
(325,855)
Profit as previously reported
13,455
Loss as adjusted
(312,400)