BARTLEY'S FLOWERS LIMITED - Limited company accounts 20.1

REGISTERED NUMBER: 04042528 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019

FOR

BARTLEY'S FLOWERS LIMITED

Page

Company Information

1

Report of the Director

2

Statement of Income and Retained Earnings

3

Statement of Financial Position

4

Notes to the Financial Statements

6

DIRECTOR:

S Harmer

SECRETARY:

Ms J Cable

REGISTERED OFFICE:

Unit C

Broomsleigh Business Park

Worsley Bridge Road

London

SE26 5BN

REGISTERED NUMBER:

04042528 (England and Wales)

ACCOUNTANTS:

BENNETT & CO

Unit C

Broomsleigh Business Park

Worsley Bridge Road

London

SE26 5BN

BANKERS:

Lloyds Bank PLC

The director presents his report with the financial statements of the company for the year ended 31 July 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Retail Florists.

DIVIDENDS

An interim dividend of £180 per share was paid on 31 July 2019. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 July 2019 will be £ 18,000 .

DIRECTOR

S Harmer held office during the whole of the period from 1 August 2018 to the date of this report.

ON BEHALF OF THE BOARD:

S Harmer - Director

4 May 2020

TURNOVER

475,719

464,138

Cost of sales

365,084

347,380

GROSS PROFIT

110,635

116,758

Administrative expenses

92,063

90,190

OPERATING PROFIT

4

18,572

26,568

Interest payable and similar expenses

2,894

2,266

PROFIT BEFORE TAXATION

15,678

24,302

Tax on profit

5

3,111

4,783

PROFIT FOR THE FINANCIAL YEAR

12,567

19,519

Retained earnings at beginning of year

12,392

10,873

Dividends

6

(18,000

)

(18,000

)

RETAINED EARNINGS AT END OF YEAR

6,959

12,392

FIXED ASSETS

Intangible assets

7

100,000

100,000

Tangible assets

8

3,400

4,200

103,400

104,200

CURRENT ASSETS

Stocks

4,300

4,150

Debtors

9

6,374

9,076

Cash in hand

273

2,824

10,947

16,050

CREDITORS

Amounts falling due within one year

10

106,789

91,802

NET CURRENT LIABILITIES

(95,842

)

(75,752

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,558

28,448

CREDITORS

Amounts falling due after more than one year

11

499

15,956

NET ASSETS

7,059

12,492

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

6,959

12,392

SHAREHOLDERS' FUNDS

7,059

12,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 4 May 2020 and were signed by:

S Harmer - Director

1.	STATUTORY INFORMATION

BARTLEY'S FLOWERS 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

The Director considers that the reputation and quality of service provided by the company means that there is no

diminution in the value of the Goodwill purchased.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 - 20% 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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

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.

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.

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 year was 6 (2018 - 7 ) .

31.7.19

31.7.18

£

£

Director's remuneration

12,000

12,000

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.7.19

31.7.18

£

£

Depreciation - owned assets

800

1,000

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.7.19

31.7.18

£

£

Current tax:

UK corporation tax

3,111

4,783

Tax on profit

3,111

4,783

6.

DIVIDENDS

31.7.19

31.7.18

£

£

Ordinary shares of £1 each

Interim

18,000

18,000

7.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2018

and 31 July 2019

100,000

NET BOOK VALUE

At 31 July 2019

100,000

At 31 July 2018

100,000

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

and 31 July 2019

20,678

DEPRECIATION

At 1 August 2018

16,478

Charge for year

800

At 31 July 2019

17,278

NET BOOK VALUE

At 31 July 2019

3,400

At 31 July 2018

4,200

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

3,125

8,396

Other debtors

3,249

680

6,374

9,076

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Bank loans and overdrafts

64,501

42,111

Trade creditors

8,296

8,020

Taxation and social security

8,339

12,407

Other creditors

25,653

29,264

106,789

91,802

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Other creditors

499

15,956

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Retained

earnings

£

At 1 August 2018

12,392

Profit for the year

12,567

Dividends

(18,000

)

At 31 July 2019

6,959