Flow Therapies Ltd - Period Ending 2019-03-31

Registration number: 11258849

Flow Therapies Ltd

Annual Report and Unaudited Financial Statements

for the Period from 16 March 2018 to 31 March 2019

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Flow Therapies Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 6

Flow Therapies Ltd

Company Information

Directors

Mr G D Flowers Mrs C J Hugill

Registered office

6 Houndiscombe Road Plymouth Devon PL4 6HH

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Flow Therapies Ltd
for the Period Ended 31 March 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Flow Therapies Ltd for the period ended 31 March 2019 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Flow Therapies Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Flow Therapies Ltd and state those matters that we have agreed to state to the Board of Directors of Flow Therapies Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flow Therapies Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Flow Therapies Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Flow Therapies Ltd. You consider that Flow Therapies Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Flow Therapies 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

12 December 2019

Page 2

Flow Therapies Ltd

(Registration number: 11258849)
Balance Sheet as at 31 March 2019

	Note	2019 £
Fixed assets
Tangible assets	4	12,557
Current assets
Debtors	5	7,066
Cash at bank and in hand		5,784
		12,850
Creditors: Amounts falling due within one year	6	(35,867)
Net current liabilities		(23,017)
Net liabilities		(10,460)
Capital and reserves
Profit and loss account		(10,460)
Total equity		(10,460)

For the financial period ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their 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.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 December 2019 and signed on its behalf by:
 

.........................................

Mr G D Flowers
Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Flow Therapies Ltd

Notes to the Unaudited Financial Statements for the Period from 16 March 2018 to 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

These financial statements were authorised for issue by the Board on 12 December 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the directors continue to provide financial support when necessary to the company. The directors have also reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and will show positive results for the next financial period.

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/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Page 4

Flow Therapies Ltd

Notes to the Unaudited Financial Statements for the Period from 16 March 2018 to 31 March 2019

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
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
Additions	9,244	7,500	16,744
At 31 March 2019	9,244	7,500	16,744
Depreciation
Charge for the period	2,312	1,875	4,187
At 31 March 2019	2,312	1,875	4,187
Carrying amount
At 31 March 2019	6,932	5,625	12,557

Page 5

Flow Therapies Ltd

Notes to the Unaudited Financial Statements for the Period from 16 March 2018 to 31 March 2019

5

Debtors

	2019 £
Trade debtors	48
Other debtors	7,018
	7,066

6

Creditors

Creditors: amounts falling due within one year

	2019 £
Due within one year
Trade creditors	1
Accruals and deferred income	1,872
Other creditors	33,994
	35,867

Page 6