Flux Display Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11664283 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST DECEMBER 2019 TO 31ST DECEMBER 2019

FOR

FLUX DISPLAY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr B J Harris

REGISTERED OFFICE:

The Courtyard

Earl Road

Cheadle Hulme

Stockport

SK8 6PT

REGISTERED NUMBER:

11664283 (England and Wales)

ACCOUNTANTS:

Kay Johnson Gee Limited

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Tangible assets

4

1,763

CURRENT ASSETS

Stocks

84,908

Debtors

5

26,295

Cash at bank

5,484

116,687

CREDITORS

Amounts falling due within one year

6

(105,738

)

NET CURRENT ASSETS

10,949

TOTAL ASSETS LESS CURRENT LIABILITIES

12,712

CAPITAL AND RESERVES

Called up share capital

7

1

Retained earnings

12,711

SHAREHOLDERS' FUNDS

12,712

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved the director and authorised for issue on 1st June 2020 and were signed by:

Mr B J Harris - Director

1.	STATUTORY INFORMATION

Flux Display Limited is a private company, limited by shares, registered in England and Wales, registration

number 11664283. The address of the registered office and the principle place of business is The Courtyard,

Earl Road, Cheadle Hulme, Cheadle, Chesire, SK86PT.

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 from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their

estimated useful lives, using the following methods:

Computer Equipment

15% on reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists,

the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if

any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the

recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of

the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which

comprise direct production costs, are based on the method most appropriate to the type of inventory class,

but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred.

Taxation

Taxation for the period 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 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for

bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method unless the effect of discounting would be immaterial, in which case they are stated

at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

2,074

At 31st December 2019

2,074

DEPRECIATION

Charge for period

311

At 31st December 2019

311

NET BOOK VALUE

At 31st December 2019

1,763

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

26,295

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

5,931

Other creditors

99,807

105,738

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1