REGISTERED NUMBER:
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Kieft & Sons Limited |
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Audited Financial Statements for the Year Ended 31 May 2021 |
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REGISTERED NUMBER:
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Kieft & Sons Limited |
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Audited Financial Statements for the Year Ended 31 May 2021 |
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Kieft & Sons Limited (Registered number: 00278975) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2021 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Kieft & Sons Limited |
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Company Information |
for the Year Ended 31 May 2021 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Auditors: |
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5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Kieft & Sons Limited (Registered number: 00278975) |
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Statement of Financial Position |
31 May 2021 |
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31/5/21 | 31/5/20 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
Called up share capital |
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Share premium |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Kieft & Sons Limited (Registered number: 00278975) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2021 |
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1. | Statutory information |
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Kieft & Sons Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts allowed and excluding VAT. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on their receipt of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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Tangible fixed assets |
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Fixtures fittings and equipment | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
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Taxation |
Taxation for the year 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Kieft & Sons Limited (Registered number: 00278975) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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 year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Pension costs and other post-retirement benefits |
Contributions to defined contribution pension 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. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Fixtures |
fittings |
and | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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Depreciation |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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Net book value |
At 31 May 2021 |
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At 31 May 2020 |
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Kieft & Sons Limited (Registered number: 00278975) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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5. | Debtors |
31/5/21 | 31/5/20 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | Creditors: amounts falling due within one year |
31/5/21 | 31/5/20 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | Leasing agreements |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31/5/21 | 31/5/20 |
£ | £ |
Within one year |
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The company's premises is owned by Roozen Flowerbulb Group BV, its immediate parent company. The annual rent is £25,000 ( 2020 - £25,000 ) per annum. |
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8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Auditors' Report was unqualified. |
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for and on behalf of
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Kieft & Sons Limited (Registered number: 00278975) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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9. | Related party disclosures |
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During the year the company had the following transactions with other companies within the group:- |
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a) rent and services purchased from Roozen Flowerbulb Group BV £25,000 ( 2020 - £25,000 ) |
b) purchases of goods and services from M Thoolen BV £858,641 ( 2020 - £582,287 ) |
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The company also made sales of goods and services to M Thoolen BV of £11,192 ( 2020 - £17,816 ) |
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The above transactions were on normal commercial terms. |
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At the year end date the amounts due to and from other group companies are as disclosed in notes 6 and 7 to the financial statements. |
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10. | Ultimate controlling party |
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The company is 100% owned by Roozen Flowerbulb Group BV, a company incorporated in the Netherlands. A copy of its financial statements may be obtained from the company's registered office at Hofgeestereinde 22, 1991 AX Velserbroek, The Netherlands. |
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The company is ultimately controlled by Mr W L N Roozen, a director of both the company and Roozen Flowerbulb Group BV. |