Filo Enterprises Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06647514 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

Filo Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

O M Randell

Mrs F Randell

REGISTERED OFFICE:

19 The Edge

Clowes Street

Salford

M3 5NB

REGISTERED NUMBER:

06647514 (England and Wales)

ACCOUNTANTS:

Ascendis

Chartered Certified Accountants & Business Advisor

Unit 3, Building 2

The Colony Wilmslow

Altrincham Road

Wilmslow

Cheshire

SK9 4LY

FIXED ASSETS

Tangible assets

4

3,625

3,306

Investments

5

1,000

1,000

4,625

4,306

CURRENT ASSETS

Debtors

6

225,869

182,806

Cash at bank

6,639

3,573

232,508

186,379

CREDITORS

Amounts falling due within one year

7

(167,013

)

(147,345

)

NET CURRENT ASSETS

65,495

39,034

TOTAL ASSETS LESS CURRENT LIABILITIES

70,120

43,340

CREDITORS

Amounts falling due after more than one year

8

(59,553

)

(38,333

)

PROVISIONS FOR LIABILITIES

9

(616

)

(489

)

NET ASSETS

9,951

4,518

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

9,851

4,418

SHAREHOLDERS' FUNDS

9,951

4,518

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 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 28 September 2019 and were signed on its behalf by:

O M Randell - Director

1.	STATUTORY INFORMATION

Filo Enterprises Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer & office equipment

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

& office

equipment

£

COST

At 1 August 2018

9,559

Additions

958

At 31 July 2019

10,517

DEPRECIATION

At 1 August 2018

6,253

Charge for year

639

At 31 July 2019

6,892

NET BOOK VALUE

At 31 July 2019

3,625

At 31 July 2018

3,306

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 August 2018

and 31 July 2019

1,000

NET BOOK VALUE

At 31 July 2019

1,000

At 31 July 2018

1,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

175,869

182,806

Other debtors

50,000

-

225,869

182,806

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

10,149

11,560

Other loans

26,920

10,000

Tax

4,513

2,847

VAT

67,713

66,498

Amounts owed to partnership

46,263

37,713

Directors' current accounts

11,455

18,727

167,013

147,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans - 2-5 years

59,553

38,333

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

616

489

Deferred

tax

£

Balance at 1 August 2018

489

Provided during year

127

Movement in the year

Balance at 31 July 2019

616

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with

wholly owned subsidiaries within the group.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Filo Enterprises Ltd for the year ended 31 July 2019 which comprise the Income Statement, Other

Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Filo Enterprises Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Filo Enterprises Ltd and state those matters that we have agreed to state to the Board of Directors of Filo Enterprises Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Filo Enterprises Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Filo Enterprises Ltd. You consider that Filo Enterprises Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Filo Enterprises Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ascendis

Chartered Certified Accountants & Business Advisor

Unit 3, Building 2

The Colony Wilmslow

Altrincham Road

Wilmslow

Cheshire

SK9 4LY

Date: .............................................