Flo Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04329978 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

FOR

FLO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C P Gunston

REGISTERED OFFICE:

48 St Leonards Road

Bexhill-On-Sea

East Sussex

TN40 1JB

REGISTERED NUMBER:

04329978 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

FIXED ASSETS

Intangible assets

3

3,150

4,200

Tangible assets

4

176

220

3,326

4,420

CURRENT ASSETS

Stocks

250

250

Debtors

5

9,911

4,275

Cash at bank and in hand

10,283

7,905

20,444

12,430

CREDITORS

Amounts falling due within one year

6

20,883

16,287

NET CURRENT LIABILITIES

(439

)

(3,857

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,887

563

PROVISIONS FOR LIABILITIES

35

44

NET ASSETS

2,852

519

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

2,752

419

2,852

519

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 17 August 2017 and were signed by:

Mr C P Gunston - Director

1.	STATUTORY INFORMATION

Flo 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

The turnover shown in the profit and loss account represents taking during the year.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual

value, over the useful life of that asset as follows:

Goodwill - 20% Straight Line on NBV at 1st January 2015

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classed as financial

liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and

gains or losses relating to financial liabilities are included in the profit and loss account.

Finance costs are calculated so as to produce a constant rate of return on the outstanding

liability.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classed as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

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 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.

Deferred tax

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 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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

14,999

AMORTISATION

At 1 January 2016

10,799

Charge for year

1,050

At 31 December 2016

11,849

NET BOOK VALUE

At 31 December 2016

3,150

At 31 December 2015

4,200

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

126

6,025

6,151

DEPRECIATION

At 1 January 2016

126

5,805

5,931

Charge for year

-

44

44

At 31 December 2016

126

5,849

5,975

NET BOOK VALUE

At 31 December 2016

-

176

176

At 31 December 2015

-

220

220

All assets are initially recorded at cost.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

9,156

3,489

Prepayments and accrued income

755

786

9,911

4,275

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

10,506

7,954

Corporation tax

4,409

3,656

Directors' current accounts

529

12

Accruals and deferred income

5,439

4,665

20,883

16,287

7.

RESERVES

Retained

earnings

£

At 1 January 2016

419

Profit for the year

16,473

Dividends

(14,140

)

At 31 December 2016

2,752

8.	RELATED PARTY DISCLOSURES

Mr C P Gunston

Company director

2016

2015

£

£

Amount due to related party at the balance sheet date

112

12

9.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned

to FRS 102 in 1 January 2016.

No transitional adjustments were required in equity or profit and loss for the year.