Company registration number SC647858 (Scotland)
FLLH INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
FLLH INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FLLH INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
4,049
5,219
Investments
4
7,450,515
7,170,297
Cash at bank and in hand
30,000
-
7,484,564
7,175,516
Creditors: amounts falling due within one year
5
(7,029,508)
(6,996,496)
Net current assets
455,056
179,020
Provisions for liabilities
(45,652)
-
Net assets
409,404
179,020
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
409,394
179,010
Total equity
409,404
179,020
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 3 March 2023 and are signed on its behalf by:
L HIGGINS
Lesley Higgins
Director
Company Registration No. SC647858
FLLH INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
FLLH Investments Limited is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
37 Albyn Place, Aberdeen, United Kingdom, AB10 1YN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Financial instruments
The company only enters into basic financial transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
FLLH INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Year was:
2022
2021
Number
Number
Total
3
3
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
4,049
5,219
4
Current asset investments
2022
2021
£
£
Other investments
7,450,515
7,170,297
5
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
-
22,306
Other creditors
7,029,508
6,974,190
7,029,508
6,996,496
6
Related party transactions
During the period, the company made
no
advances to the directors
.
Credits of £53,518
were received which resulted in amounts due from the company at the year end of £7
,
024,708
(2021: £6,971,190)
. The loan is unsecured and interest free with no fixed repayment terms in place.