Flow Analytics Limited - Accounts to registrar (filleted) - small 18.2

FLOW ANALYTICS LIMITED

Financial Statements

for the Year Ended 30 June 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

S Green

Registered office:

10 Flask Walk

London

NW3 1HE

Registered number:

11309711 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants and Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Intangible assets

4

95,725

191,450

Current assets

Debtors

5

8,866

120,214

Cash at bank

281,497

31,346

290,363

151,560

Creditors

Amounts falling due within one year

6

428,145

328,121

Net current liabilities

(137,782

)

(176,561

)

Total assets less current liabilities

(42,057

)

14,889

Capital and reserves

Called up share capital

7

100

100

Retained earnings

8

(42,157

)

14,789

Shareholders' funds

(42,057

)

14,889

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 director and authorised for issue on 24 February 2022 and were signed by:

S Green - Director

1.	Statutory information

Flow Analytics Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11309711 and registered office address is 10 Flask Walk, London, NW3 1HE.

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.

Going Concern

In common with other business, the company is affected by the Covid-19 virus and the unprecedented impact it is having on economic activity. Having modelled income and costs taking Covid-19 into account, the directors consider the going concern basis to be appropriate because in their opinion the company will continue to obtain sufficient funding from its parent company on whom it is dependent to enable it to pay its debts as they fall due. The parent company has indicated that it will provide such support for the foreseeable future.

Turnover

Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

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. The company is a beneficiary of Research & Development (R&D) tax relief from the UK Government in the form of reductions in its annual tax liability, as well as repayable tax credits. Current tax assets or reductions in tax liabilities for R&D claims are only recognised when the amount can be reliably determined and the probability of HM Revenue & Customs accepting the claim is considered high.

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 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 and other future taxable profits.

Research and development

Development costs are capitalised as incurred in relation to software development expenditure. These costs are amortised over a period of three years on a straight line basis.

3.	Employees and directors

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

4.	Intangible fixed assets

Development

costs

£

Cost

At 1 July 2020

and 30 June 2021

287,175

Amortisation

At 1 July 2020

95,725

Amortisation for year

95,725

At 30 June 2021

191,450

Net book value

At 30 June 2021

95,725

At 30 June 2020

191,450

5.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

600

-

Other debtors

8,266

120,214

8,866

120,214

6.

Creditors: amounts falling due within one year

2021

2020

£

£

Trade creditors

34,592

29,092

Amounts owed to group undertakings

337,303

299,029

Other creditors

56,250

-

428,145

328,121

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary

£0.10

100

100

8.

Reserves

Retained

earnings

£

At 1 July 2020

14,789

Deficit for the year

(56,946

)

At 30 June 2021

(42,157

)

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Jonathan Moughton (Senior Statutory Auditor)

for and on behalf of Haines Watts

10.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in creditors is £243,089 (2020: £249,301) owed from companies under common control.

11.	Ultimate controlling party

The ultimate controlling party is the parent company Trade TopCo Limited, a company controlled by E A Green and I S Langdon acting in concert.