Silverfin false 28/02/2023 01/03/2022 28/02/2023 N M Patel 12/02/2018 S R Patel 12/02/2018 28 November 2023 The principal activity of the company is that of property management. 11200038 2023-02-28 11200038 bus:Director1 2023-02-28 11200038 bus:Director2 2023-02-28 11200038 core:CurrentFinancialInstruments 2023-02-28 11200038 core:CurrentFinancialInstruments 2022-02-28 11200038 2022-02-28 11200038 core:Non-currentFinancialInstruments 2023-02-28 11200038 core:Non-currentFinancialInstruments 2022-02-28 11200038 core:ShareCapital 2023-02-28 11200038 core:ShareCapital 2022-02-28 11200038 core:RetainedEarningsAccumulatedLosses 2023-02-28 11200038 core:RetainedEarningsAccumulatedLosses 2022-02-28 11200038 bus:OrdinaryShareClass1 2023-02-28 11200038 bus:OrdinaryShareClass2 2023-02-28 11200038 bus:OrdinaryShareClass3 2023-02-28 11200038 bus:OrdinaryShareClass4 2023-02-28 11200038 bus:OrdinaryShareClass5 2023-02-28 11200038 2022-03-01 2023-02-28 11200038 bus:FullAccounts 2022-03-01 2023-02-28 11200038 bus:SmallEntities 2022-03-01 2023-02-28 11200038 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11200038 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11200038 bus:Director1 2022-03-01 2023-02-28 11200038 bus:Director2 2022-03-01 2023-02-28 11200038 2021-03-01 2022-02-28 11200038 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 11200038 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11200038 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 11200038 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 11200038 bus:OrdinaryShareClass2 2021-03-01 2022-02-28 11200038 bus:OrdinaryShareClass3 2022-03-01 2023-02-28 11200038 bus:OrdinaryShareClass3 2021-03-01 2022-02-28 11200038 bus:OrdinaryShareClass4 2022-03-01 2023-02-28 11200038 bus:OrdinaryShareClass4 2021-03-01 2022-02-28 11200038 bus:OrdinaryShareClass5 2022-03-01 2023-02-28 11200038 bus:OrdinaryShareClass5 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11200038 (England and Wales)

FLAMINGO MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

FLAMINGO MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

FLAMINGO MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 February 2023
FLAMINGO MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2023
Note 2023 2022
£ £
Current assets
Debtors 3 49,908 31,525
Cash at bank and in hand 4 1,905 4,057
51,813 35,582
Creditors: amounts falling due within one year 5 ( 15,470) ( 13,198)
Net current assets 36,343 22,384
Total assets less current liabilities 36,343 22,384
Creditors: amounts falling due after more than one year 6 ( 2,746) ( 3,591)
Net assets 33,597 18,793
Capital and reserves
Called-up share capital 7 200 200
Profit and loss account 33,397 18,593
Total shareholders' funds 33,597 18,793

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Flamingo Management Limited (registered number: 11200038) were approved and authorised for issue by the Director. They were signed on its behalf by:

S R Patel
Director

28 November 2023

FLAMINGO MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
FLAMINGO MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Flamingo Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Current tax
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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 Statement of Income and Retained Earnings/Statement of Comprehensive Income.

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

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. 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.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Other debtors 49,908 31,525

4. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 1,905 4,057

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 5,868 4,986
Other creditors 9,602 8,212
15,470 13,198

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 2,746 3,591

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
24 Ordinary A shares of £ 1.00 each 24 24
24 Ordinary B shares of £ 1.00 each 24 24
26 Ordinary C shares of £ 1.00 each 26 26
26 Ordinary D shares of £ 1.00 each 26 26
200 200