FLOWZONE LTD

Company Registration Number:
07060333 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

FLOWZONE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

FLOWZONE LTD

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Intangible assets: 3 162,155 160,667
Tangible assets: 4 5,005 6,248
Total fixed assets: 167,160 166,915
Current assets
Debtors: 5 184,274 143,283
Cash at bank and in hand: 78 18,079
Total current assets: 184,352 161,362
Creditors: amounts falling due within one year: 6 (247,537) (236,437)
Net current assets (liabilities): (63,185) (75,075)
Total assets less current liabilities: 103,975 91,840
Creditors: amounts falling due after more than one year:   (47,361) (38,828)
Provision for liabilities: (31,760) (31,714)
Total net assets (liabilities): 24,854 21,298
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 24,754 21,198
Shareholders funds: 24,854 21,298

The notes form part of these financial statements

FLOWZONE LTD

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 August 2024
and signed on behalf of the board by:

Name: Neil Dobson
Status: Director

The notes form part of these financial statements

FLOWZONE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Support services are recognised in the month in which they are provided, professional services are recognised when the services are completed and income from software licences and hardware is recognised when supplied.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computer equipment 25% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Intangible fixed assets and amortisation policy

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Intellectual property 10% Straight lineDevelopment Costs 25% Reducing balance

Other accounting policies

Research and development expenditureResearch expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.Cash at bank and in handCash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.Financial instrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with 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.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.TaxationThe tax expense represents the sum of the tax currently payable and deferred taxCurrent taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Deferred taxDeferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.Employee benefitsThe costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.Retirement benefitsThe company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.Foreign exchangeMonetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date when the difference in valuation is material. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

FLOWZONE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 5 5

FLOWZONE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Intangible Assets

Total
Cost £
At 01 January 2022 766,614
Additions 55,539
At 31 December 2022 822,153
Amortisation
At 01 January 2022 605,947
Charge for year 54,051
At 31 December 2022 659,998
Net book value
At 31 December 2022 162,155
At 31 December 2021 160,667

FLOWZONE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Tangible Assets

Total
Cost £
At 01 January 2022 34,858
Additions 425
At 31 December 2022 35,283
Depreciation
At 01 January 2022 28,610
Charge for year 1,668
At 31 December 2022 30,278
Net book value
At 31 December 2022 5,005
At 31 December 2021 6,248

FLOWZONE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Debtors

2022 2021
££
Debtors due after more than one year: 0 0

FLOWZONE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Creditors: amounts falling due within one year note

Trade creditors £118,127, Other taxation and social security £102,798, Other creditors £26,612