Base-Flow Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11495518 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST AUGUST 2018 TO 31ST JANUARY 2020

FOR

BASE-FLOW LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bond

B P Rogers

REGISTERED OFFICE:

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

REGISTERED NUMBER:

11495518 (England and Wales)

ACCOUNTANTS:

Bewers Turner & Co LLP

Chartered Accountants

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

FIXED ASSETS

Intangible assets

4

9,570

Tangible assets

5

333

9,903

CURRENT ASSETS

Stocks

9,000

Debtors

6

50,717

Cash at bank and in hand

3,705

63,422

CREDITORS

Amounts falling due within one year

7

137,256

NET CURRENT LIABILITIES

(73,834

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(63,931

)

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

(64,131

)

(63,931

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2020 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 and authorised for issue on 29th April 2020 and were signed on its behalf by:

J Bond - Director

1.	STATUTORY INFORMATION

Base-Flow 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 financial statements have been prepared on a going concern basis not withstanding that at 31

January 2020 the company had net current liabilities of £73,834. The director believes this basis to be

appropriate and has agreed to provide funds as necessary to meet the day to day running costs of the

business for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

The company is party to only basic financial instruments such as cash, trade debtors and creditors and

loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction

cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due

within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

Taxation

Taxation for the period 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 period was 1 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

11,962

At 31st January 2020

11,962

AMORTISATION

Charge for period

2,392

At 31st January 2020

2,392

NET BOOK VALUE

At 31st January 2020

9,570

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

500

At 31st January 2020

500

DEPRECIATION

Charge for period

167

At 31st January 2020

167

NET BOOK VALUE

At 31st January 2020

333

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

47,877

Other debtors

2,840

50,717

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

48,670

Taxation and social security

936

Other creditors

87,650

137,256

8.	RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which

the entity has a participating interest and directors were all concluded under normal market conditions.