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Registration number: 05034705

Flame Public Relations Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Flame Public Relations Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Flame Public Relations Limited

Company Information

Directors

K Dhadda

D P Barr

Registered office

37 Pear Tree Street
London
EC1V 3AG

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Flame Public Relations Limited

Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

45,133

56,383

Current assets

 

Debtors

5

273,650

87,573

Cash at bank and in hand

 

135,981

351,833

 

409,631

439,406

Creditors: Amounts falling due within one year

6

(178,302)

(121,465)

Net current assets

 

231,329

317,941

Total assets less current liabilities

 

276,462

374,324

Provisions for liabilities

-

(6,545)

Net assets

 

276,462

367,779

Capital and reserves

 

Called up share capital

100

100

Retained earnings

276,362

367,679

Shareholders' funds

 

276,462

367,779

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Flame Public Relations Limited

Statement of Financial Position as at 31 March 2023

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................

D P Barr

Director

Company registration number: 05034705

 

Flame Public Relations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Pear Tree Street
London
EC1V 3AG
 

The principal activity of the company is the provision of public relations consultancy services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year ended 31 March 2023 but had net assets at that date amounting to £276,462, with cash at bank of £135,981.

The directors have considered the potential effect of the current economic outlook and believe that the impact will continue to be manageable.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services provided in the course of the company's normal activities, net of discounts and value added taxes.

The company recognises turnover from consulting services evenly over the period in which the services are provided.

 

Flame Public Relations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Non-monetary items measured in terms of historical cost in a foreign currency are translated at the rate ruling at the date of transaction. All differences are charged to profit or loss.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Leasehold improvements

Over the remaining period of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Flame Public Relations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company during the year, was 12 (2022 - 11).

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

97,597

146,351

243,948

Additions

-

9,642

9,642

At 31 March 2023

97,597

155,993

253,590

Depreciation

At 1 April 2022

90,153

97,412

187,565

Charge for the year

7,444

13,448

20,892

At 31 March 2023

97,597

110,860

208,457

Carrying amount

At 31 March 2023

-

45,133

45,133

At 31 March 2022

7,444

48,939

56,383

5

Debtors

2023
£

2022
£

Trade debtors

241,698

57,022

Other debtors

31,952

30,551

273,650

87,573

 

Flame Public Relations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

24,668

18,012

Taxation and social security

27,220

19,724

Other creditors

126,414

83,729

178,302

121,465

7

Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the statement of financial position is £126,049 (2022 - £39,781).