Find Form Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10099503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019

FOR

FIND FORM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Bojanic

D W Soong

E S Tam

REGISTERED OFFICE:

Studio 206 Great Western Studios

65 Alfred Road

London

W2 5EU

REGISTERED NUMBER:

10099503 (England and Wales)

ACCOUNTANTS:

Horizon Accounts Ltd

Stapleton House Second Floor

110 Clifton Street

London

EC2A 4HT

FIXED ASSETS

Intangible assets

4

12,938

18,026

Tangible assets

5

4,980

1,627

17,918

19,653

CURRENT ASSETS

Stocks

6

122,272

29,718

Debtors

7

119,253

43,544

Cash at bank and in hand

372,334

49,450

613,859

122,712

CREDITORS

Amounts falling due within one year

8

253,661

142,866

NET CURRENT ASSETS/(LIABILITIES)

360,198

(20,154

)

TOTAL ASSETS LESS CURRENT LIABILITIES

378,116

(501

)

CREDITORS

Amounts falling due after more than one year

9

81,557

85,537

NET ASSETS/(LIABILITIES)

296,559

(86,038

)

CAPITAL AND RESERVES

Called up share capital

11

1,171

2

Share premium

326,829

-

Share option reserve

14,162

-

Retained earnings

(45,603

)

(86,040

)

SHAREHOLDERS' FUNDS

296,559

(86,038

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 January 2020 and were signed on its behalf by:

D W Soong - Director

1.	STATUTORY INFORMATION

Find Form Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with

wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost,

less estimated residual value, of each asset evenly over its expected useful life, as follows:

Fixtures and fittings - 20% on cost

Computer equipment - 20% on reducing balance

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

The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial

paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where

the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such

assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence

of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the

present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss

is recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the

impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying

amount would have been had the impairment not previously been recognised. The impairment reversal is recognised

in the Income Statement.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint

ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income

Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be

measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or

(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control

of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an

unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are classified

as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where

the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they

are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently

measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern

The financial statements have been prepared on the going concern basis, as the directors are of the opinion that there

are reasonable expectations that the company has sufficient cash resources to meet its obligations, if and when, they

become due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 May 2018

and 30 April 2019

25,878

AMORTISATION

At 1 May 2018

7,852

Amortisation for year

5,088

At 30 April 2019

12,940

NET BOOK VALUE

At 30 April 2019

12,938

At 30 April 2018

18,026

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2018

-

2,034

2,034

Additions

639

3,329

3,968

At 30 April 2019

639

5,363

6,002

DEPRECIATION

At 1 May 2018

-

407

407

Charge for year

82

533

615

At 30 April 2019

82

940

1,022

NET BOOK VALUE

At 30 April 2019

557

4,423

4,980

At 30 April 2018

-

1,627

1,627

6.

STOCKS

30.4.19

30.4.18

as restated

£

£

Finished goods

122,272

29,718

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

as restated

£

£

Trade debtors

67,235

25,244

Other debtors

52,018

18,300

119,253

43,544

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

as restated

£

£

Trade creditors

235,758

138,378

Taxation and social security

8,396

3,738

Other creditors

9,507

750

253,661

142,866

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

as restated

£

£

Other creditors

81,557

85,537

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.4.19

30.4.18

as restated

£

£

Within one year

24,203

-

Between one and five years

57,356

-

81,559

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.19

30.4.18

value:

as restated

£

£

84,999

Ordinary A

£0.01

850

1

15,000

Ordinary B

£0.01

150

1

1

Founder

£0.01

-

-

17,087

Seed Series Preferred

£0.01

171

-

1,171

2

All shares have equal rights, with the following exceptions;

- Ordinary B shares have no rights to attend, speak or vote at any general meeting of the company.

- In the event of a liquidation or winding up, distributions are payable in the following order of priority:

a) Founder Share

b) Seed Series Preferred

c) Ordinary A and Ordinary B equally.

12.	RELATED PARTY DISCLOSURES

During the period, the company received advances of £101,957 from the director, and made repayments of £20,400

to the director. At the date of the financial statements, the company owed £81,557 to the director (2018 - nil). These

amounts are interest free.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D W Soong.

14.	SHARE-BASED PAYMENT TRANSACTIONS

The company operates an Employee Share Option Scheme. At the date of the statement of financial position the

company granted 12,770 EMI qualifying share options to one employees of the company at an exercise price of

£7.17 per share. Of the amount 1,064 share options vested but not exercised.

Share options vest over a 3 year period from the date of grant.