Flourish Capital Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06484476 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

FLOURISH CAPITAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

6

Independent Chartered Certified Accountants' Review Report

7

DIRECTORS:

Martin Ainscough

Rachael Eva Ainscough

David Philip Richard Watson

REGISTERED OFFICE:

Oakland House

21 Hope Carr Road

Leigh

Wigan

Lancashire

WN7 3ET

REGISTERED NUMBER:

06484476 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

The Royal Bank of Scotland plc

38 Market Place

Wigan

WN1 1PJ

SOLICITORS:

Weightmans LLP

Pall Mall Court

61-67 King Street

Manchester

Greater Manchester

M2 4PD

CURRENT ASSETS

Debtors: amounts falling due after more than one year

4

1,414,297

1,207,712

Cash at bank

535

3,338

1,414,832

1,211,050

CREDITORS

Amounts falling due within one year

5

1,121,749

1,122,390

NET CURRENT ASSETS

293,083

88,660

TOTAL ASSETS LESS CURRENT LIABILITIES

293,083

88,660

CREDITORS

Amounts falling due after more than one year

6

1

1

NET ASSETS

293,082

88,659

CAPITAL AND RESERVES

Called up share capital

7

102,106

102,106

Share premium

2,633

2,633

Retained earnings

188,343

(16,080

)

SHAREHOLDERS' FUNDS

293,082

88,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2022 and were signed on its behalf by:

David Philip Richard Watson - Director

1.	STATUTORY INFORMATION

Flourish Capital 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 consists of interest receivable on loans and other related finance fees. Interest income is recognised on an accruals basis. Other related finance fees are recognised when the related service is performed.

Financial instruments

Short term financial assets, including trade and other debtors and cash and bank balances, are measured at transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at undiscounted amount due.

Short term financial liabilities, including trade and other creditors and amounts owed to group undertakings, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Financial liabilities payable after one year are initially measured at fair value and are subsequently measured at amortised cost using the effective interest rate method.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Amounts owed from group undertakings

1,414,297

1,207,712

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

540

Amounts owed to group undertakings

1,120,000

1,120,000

Accrued expenses

1,749

1,850

1,121,749

1,122,390

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Preference shares

1

1

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

102,106

Ordinary 'B'

£1

102,106

102,106

In addition to the above, the company has issued £1 redeemable preference shares which have, in accordance with the provisions of FRS 102, been classified as debt and included in creditors (see note 6).

The ordinary B shares carry voting rights but the preference shares carry no voting rights.

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE PARENT COMPANY

The following reproduces the text of the report prepared for the directors and members 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 Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2021 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

David Philip Richard Watson - Director

23 March 2022

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 Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Flourish Capital Limited for the year ended 30 September 2021, which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity and the related notes 1 to 9. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page eight, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 30 September 2021 and of its profit for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

23 March 2022