Registration number:
Fluid Vision Ltd
for the Period from 1 January 2016 to 31 March 2017
Chartered Accountants
The Genesis Centre
North Staffs Business Park
18 Innovation Way
Stoke-on-Trent
Staffordshire
ST6 4BF
Fluid Vision Ltd
Contents
Balance Sheet |
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Notes to the Financial Statements |
Fluid Vision Ltd
(Registration number: 07144855)
Balance Sheet as at 31 March 2017
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2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Fluid Vision Ltd
(Registration number: 07144855)
Balance Sheet as at 31 March 2017
For the financial period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file a profit and loss account has been taken.
Approved and authorised by the
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Mrs Sophie Ann McDonnell
Director
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Fluid Vision Ltd
Notes to the Financial Statements for the Period from 1 January 2016 to 31 March 2017
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Turnover comprises of the provision of services relating to advertising and marketing communications including design, advertising, exhibitions, visitor centres, websites, print and videos.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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Fluid Vision Ltd
Notes to the Financial Statements for the Period from 1 January 2016 to 31 March 2017
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
20% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the non-discounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Fluid Vision Ltd
Notes to the Financial Statements for the Period from 1 January 2016 to 31 March 2017
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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Additions |
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At 31 March 2017 |
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Depreciation |
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At 1 January 2016 |
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Charge for the period |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 December 2015 |
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Debtors |
2017 |
2015 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Fluid Vision Ltd
Notes to the Financial Statements for the Period from 1 January 2016 to 31 March 2017
Creditors |
Creditors: amounts falling due within one year
2017 |
2015 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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The Royal Bank of Scotland PLC holds a debenture dated 7th February 2011 and has a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant & machinery of the company.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The amount due within one year being £29,676 (2015 - £33,873) and between one to two years being £31,096 (2015 - £54,000)
Transition to FRS 102 |
The effect of transition from previous financial reporting framework to FRS102 are outlined below.
No transition adjustments are found necessary.
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