Fluidity Connect Limited Filleted accounts for Companies House (small and micro)

FLUIDITY CONNECT LIMITED - Company Information

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,486 4,924 1,723 6,647 3,839 5,562 xbrli:pure xbrli:shares iso4217:GBP 11259115 2022-04-01 2023-03-31 11259115 2023-03-31 11259115 2022-03-31 11259115 2021-04-01 2022-03-31 11259115 2022-03-31 11259115 2021-03-31 11259115 bus:Director2 2022-04-01 2023-03-31 11259115 core:WithinOneYear 2023-03-31 11259115 core:WithinOneYear 2022-03-31 11259115 core:ShareCapital 2023-03-31 11259115 core:ShareCapital 2022-03-31 11259115 core:RetainedEarningsAccumulatedLosses 2023-03-31 11259115 core:RetainedEarningsAccumulatedLosses 2022-03-31 11259115 bus:SmallEntities 2022-04-01 2023-03-31 11259115 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11259115 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11259115 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11259115 bus:FullAccounts 2022-04-01 2023-03-31 11259115 core:OfficeEquipment 2022-04-01 2023-03-31 11259115 core:OfficeEquipment 2023-03-31 11259115 core:OfficeEquipment 2022-03-31 11259115 core:AllAssociates 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 11259115

Fluidity Connect Limited

Filleted Unaudited Financial Statements

31 March 2023

Fluidity Connect Limited

Financial Statements

Year ended 31 March 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Fluidity Connect Limited

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	3,839	5,562

Current assets

Debtors	6	149,242	178,247
Cash at bank and in hand		11,753	8,232
		---------	---------
		160,995	186,479

Creditors: amounts falling due within one year	7	119,219	137,959
		---------	---------
Net current assets		41,776	48,520
		--------	--------
Total assets less current liabilities		45,615	54,082
		--------	--------
Net assets		45,615	54,082
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	45,614	54,081
	--------	--------
Shareholders funds	45,615	54,082
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Fluidity Connect Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 12 December 2023 , and are signed on behalf of the board by:

Mr T Roy

Director

Company registration number: 11259115

Fluidity Connect Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2a Herne Business Park, Herne Bay, CT6 7FE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of people employed by the company during the year amounted to 1 (2022: 1)

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2022 and 31 March 2023	10,486
	--------
Depreciation
At 1 April 2022	4,924
Charge for the year	1,723
	--------
At 31 March 2023	6,647
	--------
Carrying amount
At 31 March 2023	3,839
	--------
At 31 March 2022	5,562
	--------

6. Debtors

	2023	2022
	£	£
Trade debtors	851	16,725
Amounts owed by group undertakings and undertakings in which the company has a participating interest	146,583	159,970
Other debtors	1,808	1,552
	---------	---------
	149,242	178,247
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	5,396	10,478
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	1,715
Social security and other taxes	–	443
Other creditors	107,890	108,504
Other creditors	5,933	16,819
	---------	---------
	119,219	137,959
	---------	---------

At the balance sheet date, Barclays Security Trustee Limited hold a fixed and floating charge over the property or undertakings of the company.

8. Related party transactions

At the year end the company had outstanding balances due to and from group companies amounting to £nil (2022: £1,715) and £146,583 (2022: £159,970), respectively. Also at the year end the company owed £107,890 (2022: £107,890) to a company under common control.

9. Controlling party

The ultimate parent company is Talmead Holdings Ltd (company number: 11255179), a company registered in England & Wales. The registered address of the ultimate controlling party is 2a Herne Business Park, Herne Bay, England, CT6 7FE .