Flairnow Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02251886 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

FLAIRNOW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L A Stableford

A D Stableford

REGISTERED OFFICE:

159 Glenfield Road

Leicester

LE3 6DP

REGISTERED NUMBER:

02251886 (England and Wales)

ACCOUNTANTS:

SFB Group Limited

Chartered Accountants

Unit 8 Oak Spinney Park

Ratby Lane

Leicester Forest East

Leicester

LE3 3AW

CURRENT ASSETS

Debtors

4

346

-

Cash at bank

130

1,405

476

1,405

CREDITORS

Amounts falling due within one year

5

4,034

20,692

NET CURRENT LIABILITIES

(3,558

)

(19,287

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,558

)

(19,287

)

CREDITORS

Amounts falling due after more than one year

6

27,018

-

NET LIABILITIES

(30,576

)

(19,287

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(30,578

)

(19,289

)

SHAREHOLDERS' FUNDS

(30,576

)

(19,287

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 16 December 2019 and were signed on its behalf by:

Mrs L A Stableford - Director

1.	STATUTORY INFORMATION

Flairnow 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.

The balance sheet indicates a net liability situation as at the period end. The company is able to meet its day to day trading

obligations with the support of the directors, which will continue for the foreseeable future. For this reason the directors

consider that the going concern basis for preparing these financial statements is appropriate.

Turnover

Turnover represents net invoiced sales of amounts receivable for services provided.

Taxation

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. There is no current or deferred tax for the year.

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 NIL (2018 - 2 ).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

346

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

900

900

Directors' current accounts

3,134

19,792

4,034

20,692

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Directors' loan accounts

27,018

-