FlavorActiV Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03205545 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

FlavorActiV Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mr R A Boughton

Dr R J Rule

Dr B Gadzov

Mr M D Thomas

Mr D Smith

SECRETARY:

APS Nominees Limited

REGISTERED OFFICE:

Sanderum House

Oakley Road

Chinnor

Oxfordshire

OX39 4TW

REGISTERED NUMBER:

03205545 (England and Wales)

HOLDING COMPANY:

FlavorActiV Holdings Limited

Sanderum House

Oakley Road

Chinnor

Oxon

OX394TW

FIXED ASSETS

Tangible assets

4

19,076

9,041

CURRENT ASSETS

Stocks

104,403

132,812

Debtors

5

1,080,342

949,771

Cash at bank

463,618

420,875

1,648,363

1,503,458

CREDITORS

Amounts falling due within one year

6

(901,075

)

(865,223

)

NET CURRENT ASSETS

747,288

638,235

TOTAL ASSETS LESS CURRENT LIABILITIES

766,364

647,276

CREDITORS

Amounts falling due after more than one year

7

-

(80,000

)

NET ASSETS

766,364

567,276

CAPITAL AND RESERVES

Called up share capital

188

188

Share premium

117,865

117,865

Retained earnings

648,311

449,223

SHAREHOLDERS' FUNDS

766,364

567,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 15 December 2017 and were signed on its behalf by:

Mr R A Boughton - Director

1.	STATUTORY INFORMATION

FlavorActiV 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.

Tangible fixed assets

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

Stocks

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

slow moving items.

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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The

company has therefore taken advantage of the exemption provided by Section 248 of the Companies Act 2006

not to prepare group accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

20,204

Additions

15,578

At 31 March 2017

35,782

DEPRECIATION

At 1 April 2016

11,163

Charge for year

5,543

At 31 March 2017

16,706

NET BOOK VALUE

At 31 March 2017

19,076

At 31 March 2016

9,041

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

895,558

822,178

Other debtors

184,784

127,593

1,080,342

949,771

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

278,103

542,812

Taxation and social security

61,309

44,137

Other creditors

561,663

278,274

901,075

865,223

Included within other creditors is a loan from the shareholders of £80,000 (2016 £80,000). Interest is payable on

the loan at 3.9% above the Bank of England base rate. These loans are secured against the fixed and floating

assets of the business

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

-

80,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

49,333

11,622

Between one and five years

201,500

-

250,833

11,622