Registration number:
Bella June Flowers Limited
|
|
Bella June Flowers Limited
Contents
Company Information |
|
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
Bella June Flowers Limited
Company Information
Director |
K-M Harding |
Registered office |
|
Accountants |
|
Bella June Flowers Limited
Statement of Financial Position as at 30 April 2021
Note |
2021 |
2020 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
2 |
2 |
|
Profit and loss account |
31,013 |
14,573 |
|
Shareholders' funds |
31,015 |
14,575 |
For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
.........................................
K-M Harding
Director
Company registration number: 11292352
Bella June Flowers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the operation of a florist shop.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a profit for the period ended 30 April 2021 and had net assets at that date amounting to £31,014 including cash at bank of £41,140.
The director has considered the effects of the potential impact of COVID-19. The company closed the shop as required during the three lockdown periods but where possible during this time continued to operate for deliveries and collections only. The company has taken advantage of the various Government grants available during the lockdown to assist working capital and has reduced overheads where possible.
The director hopes that retail sales will return to previous levels during 2022 now that all restrictions have been lifted.
Having made enquiries the director has a reasonable expectation that the company has sufficient resources to remain in operational existence for the foreseeable future and accordingly has prepared the financial statements on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales tax, returns, rebates and discounts.
Retail sales are recognised at the point of sale or delivery.
Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Bella June Flowers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% straight line |
Leasehold property |
over the remaining period of the lease |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company during the year, was
Bella June Flowers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
|||
At 1 May 2020 |
|
|
|
At 30 April 2021 |
|
|
|
Depreciation |
|||
At 1 May 2020 |
- |
|
|
Charge for the year |
- |
|
|
At 30 April 2021 |
- |
|
|
Carrying amount |
|||
At 30 April 2021 |
|
|
|
At 30 April 2020 |
|
|
|
Bella June Flowers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
Stocks |
2021 |
2020 |
|
Raw materials and consumables |
|
|
Debtors |
2021 |
2020 |
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
|
Bank loans |
|
|
|
Trade creditors |
|
- |
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
|
Bank loans |
|
|
Loans and borrowings |
2021 |
2020 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
2021 |
2020 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Bank borrowings are secured by a fixed charge over the long leasehold property included in tangible fixed assets and a fixed and floating charge over the other assets and undertakings of the company.