Flomatic Rentals Limited Filleted accounts for Companies House (small and micro)

FLOMATIC RENTALS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02082091

Flomatic Rentals Limited

Filleted Unaudited Financial Statements

31 December 2018

Flomatic Rentals Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	3	1,738	775
Cash at bank and in hand		6,161	6,257
		------	------
		7,899	7,032

Creditors: amounts falling due within one year	4	1,890		1,954
		------		------
Net current assets			6,009	5,078
			------	------
Total assets less current liabilities			6,009	5,078
			------	------

Capital and reserves

Called up share capital	100	100
Profit and loss account	5,909	4,978
	------	------
Shareholders funds	6,009	5,078
	------	------

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 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.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 25 July 2019 , and are signed on behalf of the board by:

J. Taylor
Director

Company registration number: 02082091

Flomatic Rentals Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 143-149 Bath Road, Kettering, Northants, NN16 8NE.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.

Judgements in applying accounting policies and key sources of estimation in uncertainty

In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historic experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch 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.

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 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.

3. Debtors

	2018	2017
	£	£
Trade debtors	1,738	775
	------	----

4. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	( 1,043)	( 414)
Corporation tax	218	416
Social security and other taxes	128	164
Other creditors	2,587	1,788
	------	------
	1,890	1,954
	------	------

5. Financial instruments at fair value

The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company/LLP considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

6. Related party transactions

There was no controlling party throughout this or the previous period.

7. Controlling party

The ultimate parent company is Renovate Limited, a company registered in England & Wales.