Flourish Capital Limited - Accounts to registrar (filleted) - small 18.2
Flourish Capital Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
FOR |
FLOURISH CAPITAL LIMITED |
FLOURISH CAPITAL LIMITED (REGISTERED NUMBER: 06484476) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Directors' Responsibilities Statement | 5 |
Independent Chartered Certified Accountants' Review Report |
6 |
FLOURISH CAPITAL LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 September 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BANKERS: |
38 Market Place |
Wigan |
WN1 1PJ |
SOLICITORS: |
Pall Mall Court |
61-67 King Street |
Manchester |
Greater Manchester |
M2 4PD |
FLOURISH CAPITAL LIMITED (REGISTERED NUMBER: 06484476) |
BALANCE SHEET |
30 September 2019 |
2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
FLOURISH CAPITAL LIMITED (REGISTERED NUMBER: 06484476) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2019 |
1. | STATUTORY INFORMATION |
Flourish Capital Limited is a |
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 |
Turnover |
Turnover consists of interest receivable on loans and other related finance fees. Interest income is recognised on |
an accruals basis. Other related finance fees are recognised when the related service is performed. |
Financial instruments |
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at |
transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be |
measured at undiscounted amount due. |
Short term financial liabilities, including trade and other creditors, are measured at the transaction price. |
Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the |
undiscounted amount due. |
Financial liabilities payable after one year are initially measured at fair value and are subsequently measured at |
amortised cost using the effective interest rate method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
FLOURISH CAPITAL LIMITED (REGISTERED NUMBER: 06484476) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2019 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other loans |
Trade creditors |
Accrued expenses and interest |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Preference shares | 1 | 1 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary 'B' | £1 | 97,000 | 97,000 |
Ordinary 'C' | £1 | 5,106 | 5,106 |
102,106 | 102,106 |
The shares rank pari passu in respect of voting rights. |
In addition to the above, the company has issued £1 redeemable preference shares which have, in accordance |
with the provisions of FRS 102, been classified as debt and included in creditors (see note 6). |
8. | 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. |
During the year the company made purchases of £nil (2018: £132,000) and received a credit against previous |
management charges of £24,000 (2018: £nil) from group undertakings. As at 30 September 2019 a balance of |
£nil (2018: £26,400) was owed by the company. |
During the year the company paid £100,000 (2018 - £400,000) to group undertakings in respect of repayment of |
loans provided. As at 30 September 2019 a balance of £nil (2018: £100,000) was owed by the company. |
9. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Ainscough Group Limited. Accounts for Ainscough Group Limited can be |
obtained from its registered office, Oakland House, 21 Hope Carr Road, Leigh, Wigan, WN7 3ET. |
DIRECTORS' RESPONSIBILITIES STATEMENT |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
FLOURISH CAPITAL LIMITED |
The following reproduces the text of the report prepared for the directors and members 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. |
We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to: |
- | ensure that the company has kept proper accounting records; |
- | prepare financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2019 and of its loss for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements. |
ON BEHALF OF THE BOARD: |
18 May 2020 |
INDEPENDENT CHARTERED CERTIFIED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTORS |
FLOURISH CAPITAL LIMITED |
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. |
We have reviewed the financial statements of Flourish Capital Limited for the year ended 30 September 2019, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes 1 to 10. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed. |
Directors' responsibility for the financial statements |
As explained more fully in the Directors' Responsibilities Statement set out on page nine, the directors are responsible |
for the preparation of the financial statements and for being satisfied that they give a true and fair view. |
Accountants' responsibility |
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review |
in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review |
historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on |
historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics. |
Scope of the assurance review |
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have |
performed additional procedures to those required under a compilation engagement. These primarily consist of making |
enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the |
evidence obtained. The procedures performed in a review are substantially less than those performed in an audit |
conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an |
audit opinion on these financial statements. |
Conclusion |
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
- | so as to give a true and fair view of the state of the company's affairs as at 30 September 2019 and of its loss for the year then ended; |
- | in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | in accordance with the requirements of the Companies Act 2006. |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |