| Flo Consulting Group Limited |
| Registered number: |
11117108 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 (as restated) |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
3,292 |
|
|
3,182 |
| Investments |
5 |
|
|
- |
|
|
27 |
|
|
|
|
3,292 |
|
|
3,209 |
|
| Current assets |
| Debtors |
6 |
|
99,793 |
|
|
174,578 |
| Cash at bank and in hand |
|
|
329,878 |
|
|
306,275 |
|
|
|
429,671 |
|
|
480,853 |
|
| Creditors: amounts falling due within one year |
7 |
|
(343,438) |
|
|
(368,168) |
|
| Net current assets |
|
|
|
86,233 |
|
|
112,685 |
|
| Total assets less current liabilities |
|
|
|
89,525 |
|
|
115,894 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
(3,086) |
|
|
(6,849) |
|
| Provisions for liabilities |
|
|
|
(625) |
|
|
- |
|
|
| Net assets |
|
|
|
85,814 |
|
|
109,045 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
400 |
|
|
400 |
| Profit and loss account |
|
|
|
85,414 |
|
|
108,645 |
|
| Shareholders' funds |
|
|
|
85,814 |
|
|
109,045 |
|
|
|
|
|
|
|
|
| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime under the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
The financial statements have been delivered in accordance with the provisions applicable to companies
subject to the small companies regime. |
The Company has opted not to file the profit and loss account in accordance with provisions applicable to
companies subject to the small companies regime. |
|
|
|
|
| Mr M P Nickerson |
| Director |
| Approved by the board on 23 December 2025 |
|
| Flo Consulting Group Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
This is the first year in which the financial statements have been prepared under FRS102. There are no material transitional adjustments. |
|
|
Going concern |
|
After assessing the economic outlook and the operational and market risks affecting the company and Milient Software AS group, the directs expect the company and group to have adequate resources and projected revenue streams to continue in operational existence for the foreseeable future and, therefore, continue to adopt the going concern basis in preparing the company's financial statements. |
|
|
Reclassification of comparative amounts |
|
In order to correctly disclose the allocation of other creditors between amounts due after one year and amounts due within one year, the comparative figures have been restated to reallocate £295,587 from other creditors due after one year to other creditors due within one year. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% straight line basis |
|
Fixtures, fittings, tools and equipment |
20% straight line basis |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
| 2 |
Audit information |
|
|
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. |
|
|
The auditors' report was signed on 23rd December 2025 by James Haywood ACA (Senior Statutory Auditor) on behalf of Page Kirk LLP. |
|
|
Date of audit report |
23/12/2025 |
|
| 3 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
10 |
|
9 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 January 2024 |
8,503 |
|
Additions |
1,868 |
|
At 31 December 2024 |
10,371 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
5,321 |
|
Charge for the year |
1,758 |
|
At 31 December 2024 |
7,079 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
3,292 |
|
At 31 December 2023 |
3,182 |
|
|
| 5 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 January 2024 |
27 |
|
Disposals |
(27) |
|
|
At 31 December 2024 |
- |
|
|
| 6 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
91,028 |
|
122,520 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
|
42,273 |
|
Other debtors |
8,765 |
|
9,785 |
|
|
|
|
|
|
99,793 |
|
174,578 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2024 |
|
2023 (as restated) |
| £ |
£ |
|
|
Trade creditors |
2,802 |
|
- |
|
Taxation and social security costs |
29,040 |
|
69,540 |
|
Other creditors |
311,596 |
|
298,628 |
|
|
|
|
|
|
343,438 |
|
368,168 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2024 |
|
2023 (as restated) |
| £ |
£ |
|
|
Other creditors |
3,086 |
|
6,849 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Charge |
|
|
Nordic Trustee has a first fixed charge dated 1 October 2025 over all of the company's material real property and intellectual property. |
|
|
| 10 |
Other financial commitments |
2024 |
|
2023 (as restated) |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
17,379 |
|
39,082 |
|
|
|
|
|
|
|
|
|
|
| 11 |
Controlling party |
|
|
The company’s ultimate parent undertaking and controlling party is Milient Software AS a company incorporated in Norway, which is the parent company of the smallest and largest group to consolidate these financial statements
|
|
|
Registered office of Parent Undertaking: |
|
Wergelandsveien 1 |
|
0167 OSLO |
|
| 12 |
Other information |
|
|
Flo Consulting Group Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
4 Trent Business Studios Hawksworth Road |
|
West Bridgford |
|
Nottingham |
|
Nottinghamshire |
|
NG2 5FS |