Company Registration No. 03670373 (England and Wales)
FAST FLOWERS (HOLDINGS) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
FAST FLOWERS (HOLDINGS) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
FAST FLOWERS (HOLDINGS) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,357,573
1,356,418
Investments
2
70,002
70,002
1,427,575
1,426,420
Current assets
Debtors
155,032
184,252
Cash at bank and in hand
28,111
73,862
183,143
258,114
Creditors: amounts falling due within one year
3
(185,361)
(281,975)
Net current liabilities
(2,218)
(23,861)
Total assets less current liabilities
1,425,357
1,402,559
Creditors: amounts falling due after more than one year
4
(187,296)
(207,606)
1,238,061
1,194,953
Capital and reserves
Called up share capital
5
2
2
Revaluation reserve
1,036,413
1,036,413
Profit and loss account
201,646
158,538
Shareholders' funds
1,238,061
1,194,953
FAST FLOWERS (HOLDINGS) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2016
31 July 2016
- 2 -
For the financial year ended 31 July 2016 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 March 2017
Mr P B O'Regan
Director
Company Registration No. 03670373
FAST FLOWERS (HOLDINGS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for property rental and services.
property rental and services.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% on written down value
Investment properties are included in the balance sheet at their open market value.
No depreciation is provided on those investment properties.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
FAST FLOWERS (HOLDINGS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 August 2015
1,364,430
70,002
1,434,432
Additions
2,374
-
2,374
Disposals
(155)
-
(155)
At 31 July 2016
1,366,649
70,002
1,436,651
Depreciation
At 1 August 2015
8,012
-
8,012
On disposals
(120)
-
(120)
Charge for the year
1,184
-
1,184
At 31 July 2016
9,076
-
9,076
Net book value
At 31 July 2016
1,357,573
70,002
1,427,575
At 31 July 2015
1,356,418
70,002
1,426,420
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Mary Jane Vaughan Designs Limited
England
All
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Mary Jane Vaughan Designs Limited
Florists
175,069
83,750
The amounts stated above for Mary Jane Vaughan Designs Limited are for the year ended 30 June 2016.
FAST FLOWERS (HOLDINGS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 5 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £31,856 (2015 - £30,428).
4
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
26,924
76,544
The aggregate amount of creditors for which security has been given amounted to £166,796 (2015 - £198,256).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
6
Transactions with directors
During the year the company made advances totalling £148,929 (2015 - £158,796) to the directors. The advances attracted interest at HMRC approved rates and were repayable on demand. Repayments totalling £171,645 (2015 - £115,000) were made during the year.
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