Registration number:
Flame Public Relations Limited
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Flame Public Relations Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Flame Public Relations Limited
Company Information
Directors |
K Dhadda D P Barr |
Registered office |
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Accountants |
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Flame Public Relations Limited
Statement of Financial Position as at 31 March 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Profit and loss account |
515,421 |
488,472 |
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Shareholders' funds |
515,521 |
488,572 |
For the financial period ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Approved and authorised by the
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D P Barr
Director
Company registration number: 05034705
Flame Public Relations Limited
Notes to the Unaudited Financial Statements for the Period from 1 March 2020 to 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal activity of the company is that of public relations consultancy services
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.
Disclosure of long or short period
Going concern
The company made a profit for the period ended 31 March 2021 and had net assets at that date amounting to £511,637, with cash at bank of £492,756.
The company has been able to continue to trade profitably during the various lockdown restrictions with remote working where necessary. The directors have considered the potential effect of the current COVID-19 pandemic and, with lockdowns easing, the directors are hopeful that the worst of the crisis is over.
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 based upon the contracted stage of completion of its services.
Flame Public Relations Limited
Notes to the Unaudited Financial Statements for the Period from 1 March 2020 to 31 March 2021
Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Foreign currency transactions and balances
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 current 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.
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 |
Fixtures, 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.
Staff numbers |
The average number of persons employed by the company during the period, was
Flame Public Relations Limited
Notes to the Unaudited Financial Statements for the Period from 1 March 2020 to 31 March 2021
Tangible assets |
Leasehold improvements |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 March 2020 |
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Additions |
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At 31 March 2021 |
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Depreciation |
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At 1 March 2020 |
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Charge for the period |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 29 February 2020 |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Flame Public Relations Limited
Notes to the Unaudited Financial Statements for the Period from 1 March 2020 to 31 March 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the statement of financial position is £
Transactions with directors |
At 31 March 2021 an amount of £Nil (28 February 2020: £165,151) was due to the company from a director. During the period there were advances of £22,283 and repayments of £197,100. Interest paid to the company in the period amounted to £9,666 (2020: £11,375) at 6.5% p.a. the agreed terms were that the amount originally advanced was repayable in 2024.