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

REGISTERED NUMBER: 03205545 (England and Wales)

Financial Statements for the Year Ended 31 March 2020

for

FlavorActiV Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mr R A Boughton

Dr R J Rule

Dr B Gadzov

Mr M D Thomas

Mr D Smith

Mrs M Pohler

REGISTERED OFFICE:

Sanderum House

Oakley Road

Chinnor

Oxfordshire

OX39 4TW

REGISTERED NUMBER:

03205545 (England and Wales)

FIXED ASSETS

Tangible assets

4

56,819

70,789

CURRENT ASSETS

Stocks

307,894

330,102

Debtors

5

1,420,175

1,061,163

Cash at bank

869,446

762,196

2,597,515

2,153,461

CREDITORS

Amounts falling due within one year

6

(996,075

)

(1,069,051

)

NET CURRENT ASSETS

1,601,440

1,084,410

TOTAL ASSETS LESS CURRENT LIABILITIES

1,658,259

1,155,199

PROVISIONS FOR LIABILITIES

(10,796

)

(13,424

)

NET ASSETS

1,647,463

1,141,775

CAPITAL AND RESERVES

Called up share capital

188

188

Share premium

117,865

117,865

Retained earnings

1,529,410

1,023,722

SHAREHOLDERS' FUNDS

1,647,463

1,141,775

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 March 2021 and were signed on its behalf by:

Mr R A Boughton - Director

1.	STATUTORY INFORMATION

FlavorActiV 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost, 20% on cost and 10% on cost

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed assets

All fixed assets are initially recorded at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

104,750

Additions

3,573

At 31 March 2020

108,323

DEPRECIATION

At 1 April 2019

33,961

Charge for year

17,543

At 31 March 2020

51,504

NET BOOK VALUE

At 31 March 2020

56,819

At 31 March 2019

70,789

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,211,657

848,499

Other debtors

208,518

212,664

1,420,175

1,061,163

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,406

1,849

Trade creditors

308,376

387,221

Taxation and social security

130,790

47,505

Other creditors

554,503

632,476

996,075

1,069,051