Fiare UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06110327 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Fiare UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Heikkonen

Mrs K M Johansson

REGISTERED OFFICE:

Innovation Centre

Gallows Hill

Warwick

Warwickshire

CV34 6UW

REGISTERED NUMBER:

06110327 (England and Wales)

CURRENT ASSETS

Debtors

4

112,604

71,982

Cash at bank

16,737

27,625

129,341

99,607

CREDITORS

Amounts falling due within one year

5

119,357

91,290

NET CURRENT ASSETS

9,984

8,317

TOTAL ASSETS LESS CURRENT LIABILITIES

9,984

8,317

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9,983

8,316

9,984

8,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 13 August 2019 and were signed on its behalf by:

Mrs K M Johansson - Director

1.	STATUTORY INFORMATION

Fiare UK 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.

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.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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 2 (2017 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

110,113

69,491

Other debtors

2,491

2,491

112,604

71,982

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

1,692

5,500

Amounts owed to group undertakings

97,508

66,715

Taxation and social security

9,618

10,066

Other creditors

10,539

9,009

119,357

91,290

6.	OTHER FINANCIAL COMMITMENTS

The total of future minimum lease payments under non-cancellable operating leases as at

31 December 2018 was £1,400.

7.	ULTIMATE CONTROLLING PARTY

Fiare Solutions Oy is regarded by the directors as being the company's immediate and

ultimate parent undertaking.

The company's address is:

Tammasaarenkatu 1

00180 Helsinki

Finland