Flamefield Limited - Accounts

Flamefield Limited - Accounts

FLAMEFIELD LIMITED - Company Information

Print Friendly Version

2017-07-01 2018-06-30 false Capium Accounts Production 1.1 01643340 bus:AbridgedAccounts 2017-07-01 2018-06-30 01643340 bus:FRS102 2017-07-01 2018-06-30 01643340 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 01643340 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 01643340 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 01643340 2017-07-01 2018-06-30 01643340 2018-06-30 01643340 bus:RegisteredOffice 2017-07-01 2018-06-30 01643340 core:WithinOneYear 2018-06-30 01643340 core:AfterOneYear 2018-06-30 01643340 bus:Director1 2017-07-01 2018-06-30 01643340 bus:Director1 2018-06-30 01643340 bus:Director1 2016-07-01 2017-06-30 01643340 bus:Director2 2017-07-01 2018-06-30 01643340 bus:Director2 2018-06-30 01643340 bus:Director2 2016-07-01 2017-06-30 01643340 2016-07-01 01643340 bus:CompanySecretary1 2017-07-01 2018-06-30 01643340 bus:LeadAgentIfApplicable 2017-07-01 2018-06-30 01643340 2016-07-01 2017-06-30 01643340 2017-06-30 01643340 core:WithinOneYear 2017-06-30 01643340 core:AfterOneYear 2017-06-30 01643340 bus:EntityAccountantsOrAuditors 2016-07-01 2017-06-30 01643340 bus:OrdinaryShareClass1 2017-07-01 2018-06-30 01643340 bus:OrdinaryShareClass1 2018-06-30 01643340 bus:OrdinaryShareClass1 2016-07-01 2017-06-30 01643340 bus:OrdinaryShareClass1 2017-06-30 01643340 core:LandBuildings 2017-07-01 2018-06-30 01643340 core:LandBuildings 2018-06-30 01643340 core:LandBuildings 2017-06-30 01643340 core:PlantMachinery 2017-07-01 2018-06-30 01643340 core:PlantMachinery 2018-06-30 01643340 core:PlantMachinery 2017-06-30 01643340 core:FurnitureFittings 2017-07-01 2018-06-30 01643340 core:FurnitureFittings 2018-06-30 01643340 core:FurnitureFittings 2017-06-30 01643340 core:ComputerEquipment 2017-07-01 2018-06-30 01643340 core:ComputerEquipment 2018-06-30 01643340 core:ComputerEquipment 2017-06-30 01643340 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2018-06-30 01643340 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2017-06-30 01643340 core:CostValuation core:Non-currentFinancialInstruments 2018-06-30 01643340 core:CostValuation core:Non-currentFinancialInstruments 2017-06-30 01643340 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2018-06-30 01643340 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2018-06-30 01643340 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2018-06-30 01643340 core:Non-currentFinancialInstruments 2018-06-30 01643340 core:Non-currentFinancialInstruments 2017-06-30 01643340 core:ShareCapital 2018-06-30 01643340 core:ShareCapital 2017-06-30 01643340 core:RevaluationReserve 2018-06-30 01643340 core:RevaluationReserve 2017-06-30 01643340 core:RetainedEarningsAccumulatedLosses 2018-06-30 01643340 core:RetainedEarningsAccumulatedLosses 2017-06-30 01643340 dpl:Item1 2017-07-01 01643340 dpl:Item1 2018-06-30 01643340 dpl:Item1 2016-07-01 01643340 dpl:Item1 2017-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered Number : 01643340
England and Wales

 

 

 

FLAMEFIELD LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2017

End date: 30 June 2018

Flamefield Limited
Contents Page
For the year ended 30 June 2018
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Flamefield Limited for the year ended 30 June 2018 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Flamefield Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Flamefield Limited and state those matters that we have agreed to state to the Board of Flamefield Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flamefield Limited and its members as a body for our work or for this report.

It is your duty to ensure that Flamefield Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of Flamefield Limited. You consider that Flamefield Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Flamefield Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Gibson Accounting Ltd
The Moth Suite, The Hangar
Mosquito Way
Hatfield
Hertfordshire
AL10 9AX
08 October 2018
1
 
 		 Notes
 		 2018
£		   2017
£
Fixed assets      
Tangible fixed assets 2 552,374    400,517 
552,374    400,517 
Current assets      
Stocks 398,341    190,698 
Debtors 280,260    223,511 
Cash at bank and in hand 89,942    35,813 
768,543    450,022 
Creditors: amount falling due within one year (227,401)   (133,256)
Net current assets 541,142    316,766 
 
Total assets less current liabilities 1,093,516    717,283 
Creditors: amount falling due after more than one year -    (75,015)
Provisions for liabilities (30,955)   - 
Net assets 1,062,561    642,268 
 

Capital and reserves 		     
Called up share capital 3 200    200 
Reserves 152,403    - 
Profit and loss account 909,958    642,068 
Shareholders funds 1,062,561    642,268 
 


For the year ended 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The Members Have Agreed to the Preparation of Abridged Accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of directors


--------------------------------
Yaman Unver
Director

Date approved by the board: 08 October 2018
2
General Information
Flamefield Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 01643340,registration address Unit 22 The I O Centre,Hatfield Business Park,Hatfield,Hertfordshire,AL10 9EW.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
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 on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below. 
The company has taken advantage of the following disclosure exemptions with FRS 102 Section 1A:

-  The requirement to present a statement of cash flows and related notes

-  Financial instrument disclosures, including; 
  • Categories of financial instruments,
  • Items of income, expenses, gains or losses relating to financial instruments, and
  • Exposure to and management of financial risks.
Going Concern
The companys forecasts and projections, taking into account potential changes in trading patterns, indicate that the company will be able to continue current operations for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the sale of goods.  Sale of goods revenue is recognised at the point of sale, which is usually where the customer has taken delivery of the goods, the risks and rewards are transferred to the customer and there is a valid sales contract. Amounts disclosed as revenue are net of sales returns and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33% Straight Line
Fixtures and Fittings 25% Reducing Balance
Plant and Machinery 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.  The stock value also includes stock in transit, which is treated as a Free on Board basis.  
2.

Tangible fixed assets

Cost or Valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2017 397,597    12,308    19,027    12,395    441,327 
Additions -    340    -    73    413 
Disposals -    -    (200)   (8,273)   (8,473)
Revaluations 152,403    -    -    -    152,403 
At 30 June 2018 550,000    12,648    18,827    4,195    585,670 
Depreciation
At 01 July 2017 -    12,308    16,275    12,227    40,810 
Charge for year -    85    688    187    960 
On disposals -    -    (200)   (8,274)   (8,474)
At 30 June 2018 -    12,393    16,763    4,140    33,296 
Net book values
Closing balance as at 30 June 2018 550,000    255    2,064    55    552,374 
Opening balance as at 01 July 2017 397,597    -    2,752    168    400,517 

Revaluation of Property
The directors of the company have elected to use the revaluation model for measuring and recording the value of the owned property - Unit 22  The I O Centre, AL10 9EW.  The property has been revalued to its fair value of £550,000 (previously stated at £397,597).  The valuation was obtained by an independent valuer at the balance sheet date of 30th June 2018.  The increase in value has been credited to the revaluation surplus, which can be found on the statement of comprehensive income.

3.

Share Capital

Allotted
2018
£		   2017
£
200 Class A shares of £1.00 each 200    200 
200    200 

4.

Staff Costs

2018   2017
 
Average number of employees during the year Number   Number
Administration 4    5 
4    5 

5.Director’s loan :

Directors - Mr & Mrs Unver

During the year dividends to the value of £55,000 were paid to the directors,  At the year end date the company owed the directors £50,121 (2017: £75,015).
3