Flomatic Holdings Limited Filleted accounts for Companies House (small and micro)

FLOMATIC HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11938258

Flomatic Holdings Limited

Filleted Unaudited Financial Statements

31 December 2021

Flomatic Holdings Limited

Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Investments	3	125,001	125,001

Current assets

Debtors	4	1,199	1,199
Cash at bank and in hand		20,671	5,087
		-------	------
		21,870	6,286

Creditors: amounts falling due within one year	5	2,524	11,200
		-------	-------
Net current assets/(liabilities)		19,346	( 4,914)
		--------	--------
Total assets less current liabilities		144,347	120,087
		--------	--------

Capital and reserves

Called up share capital	6	1,000	1,000
Profit and loss account		143,347	119,087
		--------	--------
Shareholders funds		144,347	120,087
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 16 June 2022 , and are signed on behalf of the board by:

J Taylor

Director

Company registration number: 11938258

Flomatic Holdings Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, incorporated and registered in England and Wales with company number 11938258 . The address of the registered office is 143-149 Bath Road, Kettering, Northants, NN16 8NE.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

In preparing these financial statements the directors/members have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

3. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2021 and 31 December 2021	125,001
	--------
Impairment
At 1 January 2021 and 31 December 2021	–
	--------

Carrying amount
At 31 December 2021	125,001
	--------
At 31 December 2020	125,001
	--------

The company owns 100% of the issued share capital of Renovate Ltd and Great Eastern Services Ltd.

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

4. Debtors

	2021	2020
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	199	199
Other debtors	1,000	1,000
	------	------
	1,199	1,199
	------	------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Other creditors	2,524	11,200
	------	-------

6. Called up share capital

	2021		2020
	£		£
Ordinary A shares of £0.01 each	92,720	927	92,720	927
Ordinary A1 shares of £0.01 each	1,870	19	1,870	19
Ordinary A2 shares of £0.01 each	1,870	19	1,870	19
Ordinary A3 shares of £0.01 each	3,520	35	3,520	35
Ordinary A4 shares of £0.01 each	10	–	10	–
Ordinary A5 shares of £0.01 each	10	–	10	–
Ordinary B shares of £0.01 each	1	–	1	–
	--------	------	--------	------
	100,001	1,000	100,001	1,000
	--------	------	--------	------

7. Related party transactions

The company was under the control of J. Taylor, G Taylor and A. Mitchem throughout the current and previous period.