Flexibility Professional Services (UK) Ltd - Period Ending 2015-09-30

Registration number: 08656204

Flexibility Professional Services (UK) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Flexibility Professional Services (UK) Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Flexibility Professional Services (UK) Ltd
(Registration number: 08656204)
Abbreviated Balance Sheet at 30 September 2015

		Note			30 September 2015 £			30 September 2014 £
Fixed assets
Intangible fixed assets					26,000			28,000
Tangible fixed assets					1,706			272
					27,706			28,272
Current assets
Debtors					61,677			47,458
Cash at bank and in hand					2,661			5,861
					64,338			53,319
Creditors: Amounts falling due within one year					(47,911)			(20,845)
Net current assets					16,427			32,474
Net assets					44,133			60,746
Capital and reserves
Called up share capital		3			20,100			20,100
Profit and loss account					24,033			40,646
Shareholders' funds					44,133			60,746

For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 6 March 2016 and signed on its behalf by:

.........................................
Mrs Jasvinder Hall
Chairman

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Flexibility Professional Services (UK) Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 15 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	Reducing balance at 25%

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Flexibility Professional Services (UK) Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2014		30,000			363			30,363
Additions		-			2,003			2,003
At 30 September 2015		30,000			2,366			32,366
Depreciation
At 1 October 2014		2,000			91			2,091
Charge for the year		2,000			569			2,569
At 30 September 2015		4,000			660			4,660
Net book value
At 30 September 2015		26,000			1,706			27,706
At 30 September 2014		28,000			272			28,272

3	Share capital

Allotted, called up and fully paid shares

	30 September 2015						30 September 2014
		No.			£			No.			£
Ordinary £1 of £1 each		100			100			100			100
Preference 5% of £1 each		20,000			20,000			20,000			20,000
		20,100			20,100			20,100			20,100

Page 3