Fluid Lending Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11427559 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 21 JUNE 2018 TO 30 NOVEMBER 2019

FOR

FLUID LENDING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W A Jackson

A Mahmood

REGISTERED OFFICE:

6th Floor, The Lexicon

Mount Street

Manchester

M2 5NT

REGISTERED NUMBER:

11427559 (England and Wales)

ACCOUNTANTS:

Pomegranate Consulting Limited

6th Floor

49 Peter Street

Manchester

Lancashire

M2 3NG

CURRENT ASSETS

Debtors

4

2,595,712

Cash at bank

22,315

2,618,027

CREDITORS

Amounts falling due within one year

5

(2,998,784

)

NET CURRENT LIABILITIES

(380,757

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(380,757

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(380,758

)

(380,757

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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 30 April 2020 and were signed on its behalf by:

A Mahmood - Director

1.	STATUTORY INFORMATION

Fluid Lending 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 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.

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.

Going concern

The company is reliant on its sister companies, Fluid ISA Bond 1 Limited and Fluid ISA Bond 2 Limited, for

financial support. The Board members of Fluid ISA Bond 1 Limited and Fluid ISA Bond 2 Limited have

confirmed that it is a going concern and that they will provide financial support to the company for the 12 months

from the date of signing the Company's accounts. The directors of the company have also confirmed that

financial support will be available from the directors.

On the basis that the Company has adequate funding and support as detailed above, together with its current

performance and financial position, the directors have a reasonable expectation that the Company will continue

in operational existence for the foreseeable future. In the next period, the company aims to become less reliant on

its sister companies for financial support. Accordingly, the directors of the company have adopted the

going-concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

1,005,350

Other debtors

1,590,362

2,595,712

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

46,442

Amounts owed to associates

2,478,198

Other creditors

474,144

2,998,784

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Fluid Trust PLC.