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

REGISTERED NUMBER: 01623997 (England and Wales)

Unaudited Financial Statements

for the Period 1 September 2018 to 31 December 2019

for

Finglow Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms C Marks

J Taub

G Czegledy

SECRETARY:

J Taub

REGISTERED OFFICE:

5th Floor 10 Finsbury Square

London

EC2A 1AF

REGISTERED NUMBER:

01623997 (England and Wales)

ACCOUNTANTS:

Fisher Michael Chartered Accountants

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

FIXED ASSETS

Intangible assets

4

222,514

-

Tangible assets

5

-

3,485

Investments

6

-

361,891

222,514

365,376

CURRENT ASSETS

Debtors

7

53,879

144,623

Cash at bank and in hand

15,936

340,387

69,815

485,010

CREDITORS

Amounts falling due within one year

8

218,337

109,927

NET CURRENT (LIABILITIES)/ASSETS

(148,522

)

375,083

TOTAL ASSETS LESS CURRENT LIABILITIES

73,992

740,459

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

73,892

740,359

73,992

740,459

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 23 December 2020 and were signed on its behalf by:

Ms C Marks - Director

1.	STATUTORY INFORMATION

Finglow 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.

Significant judgements and estimates

No significant judgements or estimations have been applied in the preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is not amortised.

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.

Intellectual property and customer relationships, acquired in the period are being amortised evenly over periods

of 33 months and 69 months respectively.

Tangible fixed assets

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured

at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful

life:

Land and buildings

- over 15 years

Plant and machinery

- 10% on cost 25% on cost and 33% on cost

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Going concern

At the balance sheet date the company had net current liabilities of £148,522. The director's have considered the

company's cashflow requirements for the next 12 months, and are confident that it will be able to meet its

liabilities, as they fall due. The accounts have therefore been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

Additions

80,469

182,610

263,079

At 31 December 2019

80,469

182,610

263,079

AMORTISATION

Charge for period

-

40,565

40,565

At 31 December 2019

-

40,565

40,565

NET BOOK VALUE

At 31 December 2019

80,469

142,045

222,514

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2018

3,718

107,936

111,654

Disposals

(3,718

)

(107,936

)

(111,654

)

At 31 December 2019

-

-

-

DEPRECIATION

At 1 September 2018

3,718

104,451

108,169

Charge for period

-

2,048

2,048

Eliminated on disposal

(3,718

)

(106,499

)

(110,217

)

At 31 December 2019

-

-

-

NET BOOK VALUE

At 31 December 2019

-

-

-

At 31 August 2018

-

3,485

3,485

6.	FIXED ASSET INVESTMENTS

2019

2018

£

£

Shares in group undertakings

-

1

Loans to group undertakings

-

361,890

-

361,891

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 September 2018

1

Disposals

(1

)

At 31 December 2019

-

NET BOOK VALUE

At 31 December 2019

-

At 31 August 2018

1

Loans to

group

undertakings

£

At 1 September 2018

361,890

Disposal

(361,890

)

At 31 December 2019

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

50,816

36,389

Amounts owed by group undertakings

-

96,752

Other debtors

3,063

11,482

53,879

144,623

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

132

2,126

Amounts owed to group undertakings

101,868

45,488

Taxation and social security

6,501

12,267

Other creditors

109,836

50,046

218,337

109,927

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

11.	IMMEDIATE PARENT COMPANY