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

REGISTERED NUMBER: 11664283 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

FLUX DISPLAY LTD

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr B J Harris

REGISTERED OFFICE:

The Courtyard

Earl Road

Cheadle Hulme

Stockport

SK8 6PT

REGISTERED NUMBER:

11664283 (England and Wales)

ACCOUNTANTS:

KJG

1 City Road East

Manchester

M15 4PN

The following reproduces the text of the report prepared for the director 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 Profit and Loss Account and certain other primary statements and the Report of the Director 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 and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. 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 the Company 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. You consider that the Company 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 the Company. 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.

KJG

1 City Road East

Manchester

M15 4PN

21st June 2022

FIXED ASSETS

Tangible assets

4

1,432

1,498

CURRENT ASSETS

Stocks

31,118

18,695

Debtors

5

376,301

1,620

Cash at bank

27,997

210,850

435,416

231,165

CREDITORS

Amounts falling due within one year

6

(121,211

)

(61,829

)

NET CURRENT ASSETS

314,205

169,336

TOTAL ASSETS LESS CURRENT LIABILITIES

315,637

170,834

CREDITORS

Amounts falling due after more than one year

7

(42,500

)

-

PROVISIONS FOR LIABILITIES

(358

)

-

NET ASSETS

272,779

170,834

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

272,679

170,734

SHAREHOLDERS' FUNDS

272,779

170,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 21st June 2022 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 represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of sales of retail and beverage signs which are recognised at the point of which the goods or services are provided.

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:

Fixtures and Fittings

20% straight line

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 valued at the lower of cost and selling price after making due allowance for obsolete and slow moving items. Cost is calculated on a first in first out basis and includes all costs and duties incurred in bringing the stock to the company's premises.

Taxation

Taxation for the year 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 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.

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 year was 2 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2021

-

2,074

2,074

Additions

197

-

197

At 31st December 2021

197

2,074

2,271

DEPRECIATION

At 1st January 2021

-

576

576

Charge for year

39

224

263

At 31st December 2021

39

800

839

NET BOOK VALUE

At 31st December 2021

158

1,274

1,432

At 31st December 2020

-

1,498

1,498

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

374,302

1,620

Other debtors

1,999

-

376,301

1,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

7,500

-

Trade creditors

20,551

1

Taxation and social security

41,826

38,177

Other creditors

51,334

23,651

121,211

61,829

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

42,500

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

51

Ordinary A

£1

51

51

49

Ordinary B

£1

49

49

100

100