REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2021 TO 31 DECEMBER 2021 |
FOR |
FLUSSO LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2021 TO 31 DECEMBER 2021 |
FOR |
FLUSSO LIMITED |
FLUSSO LIMITED (REGISTERED NUMBER: 10226707) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2021 TO 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FLUSSO LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2021 TO 31 DECEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Unit 1, Cambridge House |
Camboro Business Park |
Oakington Road, Girton |
CAMBRIDGE |
Cambridgeshire |
CB3 0QH |
FLUSSO LIMITED (REGISTERED NUMBER: 10226707) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FLUSSO LIMITED (REGISTERED NUMBER: 10226707) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2021 TO 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Flusso Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Computer equipment | - |
Taxation |
Taxation for the period 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 period 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
FLUSSO LIMITED (REGISTERED NUMBER: 10226707) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2021 TO 31 DECEMBER 2021 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 April 2021 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 March 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
FLUSSO LIMITED (REGISTERED NUMBER: 10226707) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2021 TO 31 DECEMBER 2021 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2021 |
£ | £ |
Within one year |
Between one and five years |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: |
Class: |
Nominal |
Dec 2021 |
Mar 2021 |
value: | £ | £ |
366,787 | Ordinary | 0.01p | 37 | 36 |
(Mar 2021 - 366,008) |
22,166 | Growth Shares | 0.01p | 2 | 2 |
1,308 | Deferred Shares | 0.01p | - | - |
39 | 38 |
On 14/05/2021, 779 £0.0001 Ordinary shares were issued for proceeds of £3,027. |
The company has an EMI option scheme which has granted batches of options in both 2019/20 and 2020/21. The total number of EMI options granted in the year was NIL (Year to March 2021: 7,465). The total number of granted and unexercised options as at the period end (whether vested or not) is therefore 17,195 (Year to March 2021: 18,285) following a partial exercise and lapse in April 2021, with exercise prices between £3.75 and £7.27 per option held. |
During the year to 31 March 2021, the company created a separate class of shares, designated as Growth Share £0.0001 such that only future growth in excess of the price per share at the investment rounds in March and April 2020 will result in any value accruing to the growth share holders. |
In addition the company also allots Growth Shares. As at the period end to 31 December 2021, 22,166 (Year to March 2021) 23,474 Growth Shares had been subscribed for at their nominal value of 0.01p per share. 1,308 of those Growth Shares allotted in the year to March 2021 had been reclassified as Deferred Shares. |
The final holdings in each class are then as per the table above, there having been no changes to the Deferred Share holdings during the current period. |
9. | RELATED PARTY DISCLOSURES |
There were no material related party transactions which were not concluded under normal market conditions. |