Flowerbx Limited - Abbreviated accounts 16.3

Flowerbx Limited - Abbreviated accounts 16.3

FLOWERBX LIMITED - Company Information

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REGISTERED NUMBER: 08949674 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

FLOWERBX LIMITED

FLOWERBX LIMITED (REGISTERED NUMBER: 08949674)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

FLOWERBX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: W P B Hawkings
N N Salter
M J Sebba
A P Wilkie





REGISTERED OFFICE: 12 Cullen Way
London
NW10 6JZ





REGISTERED NUMBER: 08949674 (England and Wales)





ACCOUNTANTS: Horizon Accounts Limited
Chartered Management Accountants
Stapleton House
Block A, 2nd Floor
110 Clifton Street
London
EC2A 4HT
Page 1
FLOWERBX LIMITED (REGISTERED NUMBER: 08949674)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

31.3.16 31.3.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 7,211 4,220
Tangible assets 3 173,694 68,462
180,905 72,682

CURRENT ASSETS
Debtors 32,887 20,574
Cash at bank 685,606 24,942
718,493 45,516
CREDITORS
Amounts falling due within one year 90,812 38,404
NET CURRENT ASSETS 627,681 7,112
TOTAL ASSETS LESS CURRENT
LIABILITIES
808,586
79,794

CREDITORS
Amounts falling due after more than one
year
19,145
28,440
NET ASSETS 789,441 51,354

CAPITAL AND RESERVES
Called up share capital 4 65,530 56,022
Share premium 866,670 51,333
Profit and loss account (142,759 ) (56,001 )
SHAREHOLDERS' FUNDS 789,441 51,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 notes form part of these abbreviated accounts

Page 2 continued...
FLOWERBX LIMITED (REGISTERED NUMBER: 08949674)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 23 December 2016 and were signed on its behalf
by:





A P Wilkie - Director


The notes form part of these abbreviated accounts

Page 3
FLOWERBX LIMITED (REGISTERED NUMBER: 08949674)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible fixed assets
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. Where the directors consider that there has been a permanent
impairment in value the asset is written down to its realisable value in the year of impairment.

Branding - equally over 5 years
Trademark - equally over 5 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Website development - 20% on straight line
Office equipment - 25% on straight line
Motor vehicles - 25% on straight line
Computer equipment - 33.33% on straight line

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and
regards of ownership of the asset have passed to the company, are capitalised in the balance sheet and
depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance
sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease
and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
lease term.

Going concern
The financial statements have been prepared on the going concern basis. The company has incurred losses during
the year, however the directors have been successful in raising additional investment during the year, resulting in
a significant cash balance at the year end. It is this therefore that gives the directors a reasonable expectation that
the company has sufficient resources to meet its obligations, if and when, they become due. It is on this basis that
the directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting
in preparing the financial statements.

Page 4 continued...
FLOWERBX LIMITED (REGISTERED NUMBER: 08949674)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 5,220
Additions 5,000
At 31 March 2016 10,220
AMORTISATION
At 1 April 2015 1,044
Amortisation for year 1,965
At 31 March 2016 3,009
NET BOOK VALUE

At 31 March 2016 7,211
At 31 March 2015 4,176

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 91,341
Additions 131,460
At 31 March 2016 222,801
DEPRECIATION
At 1 April 2015 22,835
Charge for year 26,272
At 31 March 2016 49,107
NET BOOK VALUE
At 31 March 2016 173,694
At 31 March 2015 68,506

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.16 31.3.15
value: £    £   
6,553,000 Ordinary shares £0.01 65,530 56,022

Page 5 continued...
FLOWERBX LIMITED (REGISTERED NUMBER: 08949674)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


4. CALLED UP SHARE CAPITAL - continued

On 23 December 2015, the company subdivided its existing share capital of 56,022 Ordinary £1 shares into
5,602,200 Ordinary £0.01 shares. No consideration was received as part of this subdivision.

On the same date, the company re-designated 420,165 Ordinary £0.01 shares into 420,165 Deferred £0.01
shares. The company then bought back the 420,165 Deferred £0.01 shares at par and cancelled them.

Also on the same date, the company issued 1,370,965 Ordinary £0.01 shares for a total consideration of
£850,000.

Page 6