Flo Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04329978 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2017

FOR

FLO LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

2,100

3,150

Tangible assets

5

141

176

2,241

3,326

CURRENT ASSETS

Stocks

250

250

Debtors

6

7,687

9,911

Cash at bank and in hand

11,163

10,283

19,100

20,444

CREDITORS

Amounts falling due within one year

7

15,380

20,883

NET CURRENT ASSETS/(LIABILITIES)

3,720

(439

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,961

2,887

PROVISIONS FOR LIABILITIES

8

27

35

NET ASSETS

5,934

2,852

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

5,834

2,752

SHAREHOLDERS' FUNDS

5,934

2,852

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 27 September 2018 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 are as below:

Registered number:

04329978

Registered office:

48 St Leonards Road

Bexhill-On-Sea

East Sussex

TN40 1JB

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

All fixed assets are initially recorded at cost.

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.

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

14,999

AMORTISATION

At 1 January 2017

11,849

Amortisation for year

1,050

At 31 December 2017

12,899

NET BOOK VALUE

At 31 December 2017

2,100

At 31 December 2016

3,150

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2017

and 31 December 2017

126

6,025

6,151

DEPRECIATION

At 1 January 2017

126

5,849

5,975

Charge for year

-

35

35

At 31 December 2017

126

5,884

6,010

NET BOOK VALUE

At 31 December 2017

-

141

141

At 31 December 2016

-

176

176

All assets are initially recorded at cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,901

9,156

Prepayments and accrued income

786

755

7,687

9,911

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

7,852

10,506

Corporation tax

4,397

4,409

Directors' current accounts

261

529

Accruals and deferred income

2,870

5,439

15,380

20,883

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

27

35

Deferred

tax

£

Balance at 1 January 2017

35

Provided during year

(8

)

Balance at 31 December 2017

27

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100