Company Registration No. 09503380 (England and Wales)
Flock Limited
Unaudited accounts
for the year ended 31 March 2019
Flock Limited
Unaudited accounts
Contents
Flock Limited
Company Information
for the year ended 31 March 2019
Directors
Matthew Jones
Ed Klinger
Roger Mccorriston
Antton Pena
Company Number
09503380 (England and Wales)
Registered Office
THE RECORD HALL FLOCK LTD - UNIT 1.02
16-16A BALDWIN'S GARDENS
LONDON
EC1N 7RJ
UNITED KINGDOM
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Flock Limited
Statement of financial position
as at
31 March 2019
Intangible assets
13,222
-
Tangible assets
24,263
8,892
Cash at bank and in hand
1,325,267
126,114
Creditors: amounts falling due within one year
(57,636)
(16,276)
Net current assets
1,324,568
109,918
Net assets
1,362,053
118,810
Called up share capital
200
139
Share premium
2,694,967
408,313
Profit and loss account
(1,333,114)
(289,642)
Shareholders' funds
1,362,053
118,810
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 January 2020.
Antton Pena
Director
Company Registration No. 09503380
Flock Limited
Notes to the Accounts
for the year ended 31 March 2019
Flock Limited is a private company, limited by shares, registered in England and Wales, registration number 09503380. The registered office is THE RECORD HALL FLOCK LTD - UNIT 1.02, 16-16A BALDWIN'S GARDENS, LONDON, EC1N 7RJ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line Basis
Computer equipment
25% Reducing Balance Basis
Intangible fixed assets (including website development costs) are included at cost less accumulated amortisation. Costs amortised over 3 years straight line basis.
Brought forward retained earnings has been adjusted by £73 to reflect an adjustment in VAT and cash in hand, due to prior period errors.
Expenditure on research and development is written off in the year in which it is incurred.
Research and Development tax credit
Flock Limited have prepared a Research and Development Tax Credit claim for qualifying expenditure for the year ending 31 March 2019. The expected value of the tax refund relating to this claim is presented as a tax repayment in the Statement of
Profit or Loss in line with disclosure requirements under FRS 102.
Flock Limited
Notes to the Accounts
for the year ended 31 March 2019
4
Intangible fixed assets
Other
Charge for the year
3,778
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
-
-
11,859
11,859
Additions
910
6,188
13,596
20,694
At 31 March 2019
910
6,188
25,455
32,553
At 1 April 2018
-
-
2,967
2,967
Charge for the year
174
1,031
4,118
5,323
At 31 March 2019
174
1,031
7,085
8,290
At 31 March 2019
736
5,157
18,370
24,263
At 31 March 2018
-
-
8,892
8,892
Accrued income and prepayments
39,949
-
7
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
32,768
14,862
Other creditors
3,120
1,414
Flock Limited
Notes to the Accounts
for the year ended 31 March 2019
8
Average number of employees
During the year the average number of employees was 6 (2018: 3).