Flair 4 Recruitment Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05147343 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

FOR

FLAIR 4 RECRUITMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Burrows

H Burrows

Miss S L Tiltman

SECRETARY:

H Burrows

REGISTERED OFFICE:

155 Whiteladies Road

Clifton

Bristol

BS8 2RF

REGISTERED NUMBER:

05147343 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,942

11,774

5,942

11,774

CURRENT ASSETS

Debtors

6

154,468

129,562

Cash at bank

303,244

116,967

457,712

246,529

CREDITORS

Amounts falling due within one year

7

263,557

160,568

NET CURRENT ASSETS

194,155

85,961

TOTAL ASSETS LESS CURRENT LIABILITIES

200,097

97,735

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

200,095

97,733

SHAREHOLDERS' FUNDS

200,097

97,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 March 2018 and were signed on its behalf by:

H Burrows - Director

1.	STATUTORY INFORMATION

Flair 4 Recruitment 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.

These financial statements for the year ended 30 June 2017 are the first financial

statements of Flair 4 Recruitment Limited prepared in accordance with FRS 102 Section 1A

small entities. The first date at which FRS 102 was applied, the date of transition, was 1 July

2015.

The transition to FRS 102 Section 1A has resulted in a small number of changes in

accounting policies to those used previously. The nature and impact of these changes have

not been material and as such the reported financial position and financial performance for

the previous period have not been restated for the effects of changes in accounting policy

arising from the adoption of the new financial reporting standard.

Turnover

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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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

-

33% on cost

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.

Pension costs and other post-retirement benefits

Short term employee benefits including holiday pay and annual bonuses are accrued as

services are rendered.

The company operates a defined contribution pension scheme for employees. Contributions

payable to the company's pension scheme are charged to the statement of comprehensive

income as they become payable in accordance with the rules of the scheme. Differences

between contributions payable in the year and those actually paid are shown as either

accruals or prepayments in the balance sheet.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company

becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are

measured on initial recognition at transaction price. Debtors and creditors are subsequently

measured at amortised cost using the effective interest rate method. A provision is

established when there is objective evidence that the company not be able to collect all

amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash

in hand and at bank and bank overdrafts which are an integral part of the company's cash

management.

Financial liabilities and equity instruments issued by the company are classified in

accordance with the substance of the contractual arrangements entered into and the

definitions of a financial liability and an equity instrument. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic

financial instruments are initially recorded at the present value of cash payable to the bank,

usually being equivalent to the proceeds received net of direct issue costs. These liabilities

are subsequently measured at amortised cost, using the effective interest rate method.

Going concern

The company continues to be profitable and the directors have a reasonable expectation

that the company has adequate resources to continue in operational existence for the

foreseeable future. Thus they continue to adopt the going concern basis of accounting in

preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2016 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

8,000

AMORTISATION

At 1 July 2016

and 30 June 2017

8,000

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

9,424

31,491

40,915

DEPRECIATION

At 1 July 2016

3,040

26,101

29,141

Charge for year

3,141

2,691

5,832

At 30 June 2017

6,181

28,792

34,973

NET BOOK VALUE

At 30 June 2017

3,243

2,699

5,942

At 30 June 2016

6,384

5,390

11,774

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

150,051

125,530

Other debtors

4,417

4,032

154,468

129,562

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

25,358

12,048

Taxation and social security

159,267

109,952

Other creditors

78,932

38,568

263,557

160,568

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

9.	TRANSACTIONS WITH DIRECTORS

At the year end the company owed £Nil (2016 - £375) to H Burrows and Mrs L Burrows.

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY