REGISTERED NUMBER: 03047020 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2024

FOR

PETER H SMITH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G V Duijvenbode

R Hoek

Hoek Group Uk Holdings Ltd

REGISTERED OFFICE:

Peter H Smith

Chain Caul Way Riversway

Ashton On Ribble

Preston Lancashire

PR2 2YL

REGISTERED NUMBER:

03047020 (England and Wales)

AUDITORS:

Bishops Audit Limited

1 Croft Court

Whitehills Business Park

Blackpool

Lancashire

FY4 5PR

FIXED ASSETS

Tangible assets

4

127,761

213,268

CURRENT ASSETS

Stocks

229,779

261,976

Debtors

5

1,757,103

297,280

Cash at bank and in hand

55,325

691,451

2,042,207

1,250,707

CREDITORS

Amounts falling due within one year

6

1,938,737

818,328

NET CURRENT ASSETS

103,470

432,379

TOTAL ASSETS LESS CURRENT LIABILITIES

231,231

645,647

CREDITORS

Amounts falling due after more than one year

7

(3,892

)

(12,229

)

PROVISIONS FOR LIABILITIES

9

(26,337

)

(41,592

)

NET ASSETS

201,002

591,826

CAPITAL AND RESERVES

Called up share capital

150,020

150,020

Retained earnings

50,982

441,806

SHAREHOLDERS' FUNDS

201,002

591,826

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

R Hoek - Director

1.	STATUTORY INFORMATION

Peter H Smith Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements have been prepared on the going concern basis, which assumes the continuing support of the company's director, bankers and other creditors. The director believes this support will continue and is satisfied that the company is a going concern.

The financial statements are rounded to the nearest Pound Sterling (£).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost, 20% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 43 (2023 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2023

413,806

329,048

-

742,854

Additions

-

-

24,003

24,003

Disposals

-

(212,895

)

-

(212,895

)

At 31 December 2024

413,806

116,153

24,003

553,962

DEPRECIATION

At 1 October 2023

349,379

180,207

-

529,586

Charge for period

16,249

41,703

1,600

59,552

Eliminated on disposal

-

(162,937

)

-

(162,937

)

At 31 December 2024

365,628

58,973

1,600

426,201

NET BOOK VALUE

At 31 December 2024

48,178

57,180

22,403

127,761

At 30 September 2023

64,427

148,841

-

213,268

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

30/9/23

£

£

Trade debtors

443,975

258,962

Amounts owed by group undertakings

1,290,668

-

Other debtors

22,460

38,318

1,757,103

297,280

Other debtors are made up of the following:

31/12/24

30/09/23

Prepayments

8,143

33,958

Accrued income

-

-

Other

14,317

4,360

22,460

38,318

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

30/9/23

£

£

Hire purchase contracts (see note 8)

6,667

6,660

Trade creditors

117,085

649,134

Amounts owed to group undertakings

1,668,634

58,828

Taxation and social security

121,604

97,178

Other creditors

24,747

6,528

1,938,737

818,328

Other creditors are made up of the following:

31/12/24

30/09/23

Accruals

24,747

6,528

Deferred income

-

-

24,747

6,528

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

30/9/23

£

£

Hire purchase contracts (see note 8)

3,892

12,229

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31/12/24

30/9/23

£

£

Net obligations repayable:

Within one year

6,667

6,660

Between one and five years

3,892

12,229

10,559

18,889

Non-cancellable

operating leases

31/12/24

30/9/23

£

£

Within one year

166,667

113,333

Between one and five years

217,778

384,444

384,445

497,777

9.	PROVISIONS FOR LIABILITIES

31/12/24

30/9/23

£

£

Deferred tax

26,337

41,592

Deferred

tax

£

Balance at 1 October 2023

41,592

Provided during period

(15,255

)

Balance at 31 December 2024

26,337

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

We were not appointed as auditor of the company until after 31 December 2024 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024, which are included in the balance sheet at £229,779, by using other audit procedures.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

David Evans BA FCA (Senior Statutory Auditor)

for and on behalf of Bishops Audit Limited

11.	RELATED PARTY DISCLOSURES

The intercompany loans have not been discounted to present value as under the terms of the loans they are repayable on demand.

The balances on the intercompany loans at the period end are as follows:

£296,673 owed from Hoek Group BV , the parent company to Peter H Smith Ltd.

From the date of acquisition by the group in March 2024, Peter H Smith Ltd made sales totalling £928,759 to Hoek Flowers UK Ltd, a subsidiary 100% owned by the parent company Hoek Goup BV,

From the date of acquisition by the group in March 2024, Peter H Smith Ltd had purchases totalling £3,029,684 from Hoek Flowers UK Ltd, a subsidiary 100% owned by the parent company Hoek Group BV.

At the year end, the group trading balances are as follows:

£406,995 owed from Hoek Flowers BV , a subsidary 100% owned by the parent company Hoek Group BV.

£587,000 owed from Hoek Flowers UK LTD , a subsidiary 100% owned by the parent company Hoek Group BV.

£1,652,614 owed to Hoek Flowers UK Ltd, a subsidiary 100% owned by the parent company Hoek Group BV.

£16,020 owed to Hoek Group BV, the parent company.

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Hoek Group B.V, company number: 28050358, registered office Boulevard 60 ,2225AE KATWIJK ZH, The Netherlands. A copy of the Group accounts can be obtained from The Netherlands Camber of Commerce KVK website.