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

REGISTERED NUMBER: 10402874 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Fluidly Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

7

DIRECTORS:

Ms C B Plumb

W J Gibbs

REGISTERED OFFICE:

3-5 Fashion Street

London

E1 6PX

REGISTERED NUMBER:

10402874 (England and Wales)

ACCOUNTANTS:

SFC Bennett Brooks Ltd

Suite 345

50 Eastcastle Street

Fitzrovia

London

W1W 8EA

FIXED ASSETS

Intangible assets

4

29,854

23,504

Tangible assets

5

75,125

18,804

104,979

42,308

CURRENT ASSETS

Debtors

6

674,348

170,170

Cash at bank

7,860,603

870,885

8,534,951

1,041,055

CREDITORS

Amounts falling due within one year

7

(5,237,142

)

(80,878

)

NET CURRENT ASSETS

3,297,809

960,177

TOTAL ASSETS LESS CURRENT LIABILITIES

3,402,788

1,002,485

CAPITAL AND RESERVES

Called up share capital

9

225

173

Share premium

7,349,714

2,374,363

Retained earnings

(3,947,151

)

(1,372,051

)

SHAREHOLDERS' FUNDS

3,402,788

1,002,485

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 and authorised for issue on 7 April 2020 and were signed on its behalf by:

Ms C B Plumb - Director

1.	STATUTORY INFORMATION

Fluidly 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.

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.

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.

Websites are being amortised evenly over its estimated useful life of five years.

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

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset

and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of

each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings

- 20% on cost

Computer equipment

- 33% on cost

Taxation

Taxation for the year 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 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.

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 income statement in the period to which they relate.

Grant income

Grant income in respect of revenue expenditure is matched and released to the income statement as the expenditure is

incurred.

Share capital

Ordinary shares are classed as equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from

impairment are recognised in the income statement.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2018

28,160

Additions

12,982

At 30 September 2019

41,142

AMORTISATION

At 1 October 2018

4,656

Charge for year

6,632

At 30 September 2019

11,288

NET BOOK VALUE

At 30 September 2019

29,854

At 30 September 2018

23,504

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

28,583

Additions

76,512

At 30 September 2019

105,095

DEPRECIATION

At 1 October 2018

9,779

Charge for year

20,191

At 30 September 2019

29,970

NET BOOK VALUE

At 30 September 2019

75,125

At 30 September 2018

18,804

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

44,431

8,831

Other debtors

629,917

161,339

674,348

170,170

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

114,886

19,903

Taxation and social security

98,675

43,564

Other creditors

5,023,581

17,411

5,237,142

80,878

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

67,200

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

12,701,240

Ordinary

£0.00001

127

129

4,561,300

Ordinary A

£0.00001

46

44

5,234,764

Series A

£0.00001

52

-

225

173

On 9 November 2018 the Company issued 118,111 Ordinary A Shares of £0.00001 each at £0.9621 per share and 2,354,979

Series A Shares of £0.00001 each at £0.9621 per share.

On 6 December 2018 the Company issued 2,723,877 Series A Shares of £0.00001 each at £0.9621 per share.

On 6 December 2018 the Company re-designated 155,908 Ordinary Shares of £0.00001 into 155,908 Series A Shares of

£0.00001.

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Fluidly Limited for the year ended 30 September 2019 which comprise the Income Statement, Balance Sheet,

Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fluidly Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fluidly Limited and state those matters that we have agreed to state to the Board of Directors of Fluidly Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fluidly Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fluidly Limited. You consider that Fluidly Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fluidly Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

SFC Bennett Brooks Ltd

Suite 345

50 Eastcastle Street

Fitzrovia

London

W1W 8EA

7 April 2020