Flaptraps Art Limited
Flaptraps Art Limited
Registered number: 11406563
Unaudited Financial Statements
For The Year Ended
31 May 2022
March Mutual Ltd
F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Flaptraps Art Limited
Unaudited Financial Statements
For The Year Ended
31 May 2022
Unaudited Financial Statements
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| Page | |
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| Accountants' Report | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—5 |
Flaptraps Art Limited
Accountants' Report
For The Year Ended
31 May 2022
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of
Flaptraps Art Limited
for the year ended 31 May 2022
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Flaptraps Art Limited
which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of
Flaptraps Art Limited
, as a body, in accordance with the terms of our engagement letter dated 07 June 2019. Our work has been undertaken solely to prepare for your approval the accounts of
Flaptraps Art Limited
and state those matters that we have agreed to state to the director of
Flaptraps Art Limited
, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Flaptraps Art Limited
and its director as a body for our work or for this report.
It is your duty to ensure that
Flaptraps Art Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
Flaptraps Art Limited
. You consider that
Flaptraps Art Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of
Flaptraps Art Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Flaptraps Art Limited
Balance Sheet
As at
31 May 2022
Balance Sheet
Registered number:
11406563
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 12,264 | 10,373 | |||
Flaptraps Art Limited
Balance Sheet (continued)
As at
31 May 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 5 form part of these financial statements.
Flaptraps Art Limited
Notes to the Financial Statements
For The Year Ended
31 May 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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 is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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1.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2021: NIL)
3.
Tangible Assets
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| Depreciation | |
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| Net Book Value | |
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4.
Creditors: Amounts Falling Due Within One Year
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| Other taxes and social security |
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| Accruals and deferred income |
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| Director's loan account |
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Flaptraps Art Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2022