FLC Distributors Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 00975232

Financial Statements for the Year Ended 31 March 2017

for

FLC DISTRIBUTORS LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

J C Isow

SECRETARY:

Mrs V C Isow

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

00975232

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

98,350

104,238

CURRENT ASSETS

Stocks

759,129

581,980

Debtors

5

253,762

154,228

Prepayments and accrued income

927

Cash at bank and in hand

96,754

15,994

1,110,572

753,129

CREDITORS

Amounts falling due within one year

6

1,092,006

774,627

NET CURRENT ASSETS/(LIABILITIES)

18,566

(21,498

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

116,916

82,740

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

116,914

82,738

SHAREHOLDERS' FUNDS

116,916

82,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 28 December 2017 and were signed by:

J C Isow - Director

1.	STATUTORY INFORMATION

FLC Distributors Ltd is a private company, limited by shares , registered in Not specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% 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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2016

and 31 March 2017

70,000

214,369

284,369

DEPRECIATION

At 1 April 2016

-

180,131

Charge for year

-

5,888

At 31 March 2017

-

186,019

NET BOOK VALUE

At 31 March 2017

70,000

28,350

98,350

At 31 March 2016

70,000

34,238

104,238

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade debtors

54,671

83,635

Other debtors

199,091

70,593

253,762

154,228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Bank loans and overdrafts

-

145,204

Trade creditors

810,660

526,934

Taxation and social security

75,195

17,179

Other creditors

206,151

85,310

1,092,006

774,627

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Director's current a/c was overdrawn as at 31.03.2017 and has subsequently been repaid by August 2017.

FLC Distributors Ltd - Accounts to registrar (filleted) - small 17.3

FLC Distributors Ltd - Accounts to registrar (filleted) - small 17.3