Company Registration No. 06826289 (England and Wales)
FLEXIION LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2016
FLEXIION LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
FLEXIION LTD
ABBREVIATED BALANCE SHEET
AS AT
5 APRIL 2016
05 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
19,031
11,282
Cash at bank and in hand
2,273
15,423
21,304
26,705
Creditors: amounts falling due within one year
(67,081)
(69,438)
Total assets less current liabilities
(45,777)
(42,733)
Creditors: amounts falling due after more than one year
(256,642)
(158,461)
(302,419)
(201,194)
Capital and reserves
Called up share capital
2
200
100
Profit and loss account
(302,619)
(201,294)
Shareholders' funds
(302,419)
(201,194)
For the financial year ended 5 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 5 January 2017
Mr J Osborn
Director
Company Registration No. 06826289
FLEXIION LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33.33% on cost
Fixtures, fittings & equipment
33.33% on cost
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
200 Ordinary of £1 each
200
100
During the year 100 ordinary shares of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital.