43 12 March 2026 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 619,092 17,724 85,028 551,788 412,411 53,780 37,200 428,991 122,797 206,681 4,470,491 2,149,333 205,715 2,355,048 2,115,443 2,321,158 xbrli:pure xbrli:shares iso4217:GBP 04974325 2024-01-01 2024-12-31 04974325 2024-12-31 04974325 2023-12-31 04974325 2023-01-01 2023-12-31 04974325 2023-12-31 04974325 2022-12-31 04974325 core:PlantMachinery 2024-01-01 2024-12-31 04974325 bus:Director9 2024-01-01 2024-12-31 04974325 core:PlantMachinery 2023-12-31 04974325 core:PlantMachinery 2024-12-31 04974325 core:WithinOneYear 2024-12-31 04974325 core:WithinOneYear 2023-12-31 04974325 core:ShareCapital 2024-12-31 04974325 core:ShareCapital 2023-12-31 04974325 core:SharePremium 2024-12-31 04974325 core:SharePremium 2023-12-31 04974325 core:CapitalRedemptionReserve 2024-12-31 04974325 core:CapitalRedemptionReserve 2023-12-31 04974325 core:RetainedEarningsAccumulatedLosses 2024-12-31 04974325 core:RetainedEarningsAccumulatedLosses 2023-12-31 04974325 core:BetweenOneFiveYears 2024-12-31 04974325 core:MoreThanFiveYears 2024-12-31 04974325 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 04974325 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-12-31 04974325 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-12-31 04974325 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-12-31 04974325 core:Non-currentFinancialInstruments 2024-12-31 04974325 core:Non-currentFinancialInstruments 2023-12-31 04974325 core:PlantMachinery 2023-12-31 04974325 bus:Director1 2024-01-01 2024-12-31 04974325 bus:SmallEntities 2024-01-01 2024-12-31 04974325 bus:Audited 2024-01-01 2024-12-31 04974325 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04974325 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04974325 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 04974325

Flourish CRM Ltd

Filleted Financial Statements

For the year ended

31 December 2024

Flourish CRM Ltd

Statement of Financial Position

31 December 2024

| 2024 | 2023
|  |  | (restated)
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 122,797 | 206,681
Investments | 6 |  | 2,115,443 | 2,321,158
|  | ------------ | ------------
|  | 2,238,240 | 2,527,839

Current assets

Debtors | 7 | 1,335,925 |  | 1,693,673
Cash at bank and in hand | 851,919 |  | 415,299
| ------------ |  | ------------
| 2,187,844 |  | 2,108,972

Creditors: amounts falling due within one year | 8 | 597,107 |  | 1,506,724
| ------------ |  | ------------
Net current assets |  | 1,590,737 | 602,248
|  | ------------ | ------------
Total assets less current liabilities |  | 3,828,977 | 3,130,087

Provisions

Taxation including deferred tax |  | 29,096 | 45,429
|  | ------------ | ------------
Net assets |  | 3,799,881 | 3,084,658
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 1,747 | 1,747
Share premium account |  | ( 4,200) | ( 4,200)
Capital redemption reserve |  | 2,603 | 2,603
Profit and loss account |  | 3,799,731 | 3,084,508
|  | ------------ | ------------
Shareholders funds |  | 3,799,881 | 3,084,658
|  | ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.

Flourish CRM Ltd

Statement of Financial Position (continued)

31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 12 March 2026 , and are signed on behalf of the board by:

H D E Varney
Director

Company registration number: 04974325

Flourish CRM Ltd

Notes to the Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Grove House, Pembroke Grove, Clifton, Bristol, BS8 3DA. The company name was changed on 14 November 2025 from Flourish Direct Marketing Limited.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis .
Going concern
The directors have prepared and reviewed budgets for the period covering at least 12 months from the date of the approval of these financial statements and are confident that the company has the ability to meet its financial requirements as they fall due for payment and the directors are satisfied that adequate cash and working capital resources will continue to be maintained and that it is therefore appropriate to prepare the financial statements on a going concern basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as disclosed in the accounting policies. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as disclosed within the accounting policies. 1 Depreciation charge The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. 2 Valuation of Flourish Dubai FZ-LLC The valuation of Flourish Dubai FZ-LLC is based on a multiple of weighted average and EBITDA plus net assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 25% reducing balance

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 43 (2023: 42 ).
5. Tangible assets

| Plant and machinery | Total
| £ | £
Cost |  |
At 1 January 2024 (as restated) | 619,092 | 619,092
Additions | 17,724 | 17,724
Disposals | ( 85,028) | ( 85,028)
| --------- | ---------
At 31 December 2024 | 551,788 | 551,788
| --------- | ---------
Depreciation |  |
At 1 January 2024 | 412,411 | 412,411
Charge for the year | 53,780 | 53,780
Disposals | ( 37,200) | ( 37,200)
| --------- | ---------
At 31 December 2024 | 428,991 | 428,991
| --------- | ---------
Carrying amount |  |
At 31 December 2024 | 122,797 | 122,797
| --------- | ---------
At 31 December 2023 | 206,681 | 206,681
| --------- | ---------

6. Investments

| Shares in group undertakings
| £
Cost |
At 1 January 2024 as restated and 31 December 2024 | 4,470,491
| ------------
Impairment |
At 1 January 2024 as restated | 2,149,333
Impairment losses | 205,715
| ------------
At 31 December 2024 | 2,355,048
| ------------

Carrying amount |
At 31 December 2024 | 2,115,443
| ------------
At 31 December 2023 | 2,321,158
| ------------

7. Debtors

| 2024 | 2023
|  | (restated)
| £ | £
Trade debtors | 1,049,287 | 1,687,369
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 156,259 | –
Other debtors | 130,379 | 6,304
| ------------ | ------------
| 1,335,925 | 1,693,673
| ------------ | ------------

8. Creditors: amounts falling due within one year

| 2024 | 2023
|  | (restated)
| £ | £
Trade creditors | 83,740 | 150,331
Corporation tax | 204,259 | 283,611
Social security and other taxes | 229,626 | 246,085
Other creditors | 79,482 | 826,697
| --------- | ------------
| 597,107 | 1,506,724
| --------- | ------------

9. Prior period restatement
The prior period has been restated due to an impairment of the investment in the associated company Flourish Dubai FZ-LLC. The value of the investment has been impaired by £2,149,333 and is now shown at the revised value as at 31 December 2023 of £2,321,158.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2024 | 2023
|  | (restated)
| £ | £
Not later than 1 year | 76,250 | –
Later than 1 year and not later than 5 years | 76,250 | –
Later than 5 years | 25,417 | –
| --------- | ----
| 177,917 | –
| --------- | ----

11. Contingencies
The company has entered into cross guarantees with other group companies in relation to facilities provided by BPC UK Lending DAC .
12. Summary audit opinion
The auditor's report dated 12 March 2026 was unqualified .
The senior statutory auditor was Heather McConnell , for and on behalf of Streets Audit LLP .
13. Related party transactions
In the previous year the intercompany loan to Flourish Digital Marketing FZ-LLC of £3,468,848 was written off. During the year ended 31 December 2024, Harbour Group entered into transactions with Who and Why Ltd, a related party within the Flourish group, primarily in respect of recruitment, professional services and IT support. During the year, the Group recognised income of £49,175 and expenses of £18,360 in respect of transactions with Who and Why Ltd. At the year end, an amount of £37,683 (2023: £nil) was due from Who and Why Ltd and is included within trade and other receivables. All transactions with the related party were conducted on normal commercial terms. No guarantees were given or received in respect of the balance outstanding.
14. Controlling party
During the year the company had a change of control. As at the year end the ultimate parent undertaking of this company is Harbour Group Holdings Limited which is incorporated in England, the registered office address is 71-75 Shelton Street, London, WC2H 9JQ. Group financial statements which include the company are publicly available from the Registrar of Companies.