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

REGISTERED NUMBER: 03533961 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

FOR

FLOCOMM LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

S Lord

Ms S Lovelace

SECRETARY:

Ms S Lovelace

REGISTERED OFFICE:

Unit 20 Dawley Industrial Estate

Stallings Lane

Kingswinford

West Midlands

DY6 7AP

REGISTERED NUMBER:

03533961 (England and Wales)

ACCOUNTANTS:

French Ludlam & Co Limited

Mountfield House

661 High Street

Kingswinford

West Midlands

DY6 8AL

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

Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income 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 Flocomm Limited for the year ended 31st March 2020 which comprise the Statement of Comprehensive

Income, Statement of Financial Position, 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 Flocomm 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 Flocomm Limited and state those matters that we have agreed to state to the Board of Directors of Flocomm 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 Flocomm 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 profit of Flocomm Limited. You consider that Flocomm 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 Flocomm 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.

French Ludlam & Co Limited

Mountfield House

661 High Street

Kingswinford

West Midlands

DY6 8AL

4th December 2020

FIXED ASSETS

Tangible assets

4

46,707

57,824

CURRENT ASSETS

Stocks

9,835

9,748

Debtors

5

159,972

351,423

Cash at bank

164,523

75,624

334,330

436,795

CREDITORS

Amounts falling due within one year

6

136,602

193,040

NET CURRENT ASSETS

197,728

243,755

TOTAL ASSETS LESS CURRENT LIABILITIES

244,435

301,579

CREDITORS

Amounts falling due after more than one year

7

(556

)

(3,889

)

PROVISIONS FOR LIABILITIES

(8,874

)

(10,987

)

NET ASSETS

235,005

286,703

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

234,905

286,603

SHAREHOLDERS' FUNDS

235,005

286,703

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th December 2020 and were signed on its behalf by:

S Lord - Director

1.	STATUTORY INFORMATION

Flocomm 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance and over the period of the lease

Stocks

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

moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

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 year was 6 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2019

105,330

Additions

3,217

Disposals

(2,748

)

At 31st March 2020

105,799

DEPRECIATION

At 1st April 2019

47,506

Charge for year

12,929

Eliminated on disposal

(1,343

)

At 31st March 2020

59,092

NET BOOK VALUE

At 31st March 2020

46,707

At 31st March 2019

57,824

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st April 2019

and 31st March 2020

29,249

DEPRECIATION

At 1st April 2019

7,312

Charge for year

5,484

At 31st March 2020

12,796

NET BOOK VALUE

At 31st March 2020

16,453

At 31st March 2019

21,937

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

145,334

314,008

Other debtors

14,638

37,415

159,972

351,423

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 8)

3,333

3,333

Trade creditors

51,892

76,937

Taxation and social security

74,011

109,770

Other creditors

7,366

3,000

136,602

193,040

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 8)

556

3,889

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Net obligations repayable:

Within one year

3,333

3,333

Between one and five years

556

3,889

3,889

7,222

Non-cancellable operating

leases

2020

2019

£

£

Within one year

10,400

10,400

Between one and five years

10,400

20,800

20,800

31,200

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2020 and

31st March 2019:

2020

2019

£

£

S Lord

Balance outstanding at start of year

20,903

30,862

Amounts repaid

(20,903

)

(9,959

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

20,903

Interest has been charged on the overdrawn loan account at the beneficial loan interest rate.