Flight Profile Limited 31/08/2023 iXBRL

Flight Profile Limited 31/08/2023 iXBRL

FLIGHT PROFILE LIMITED - Company Information

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0 31/08/2023 2023-08-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-09-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06348967 2022-09-01 2023-08-31 06348967 2023-08-31 06348967 2022-08-31 06348967 2022-08-31 06348967 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 06348967 core:OnerousContractsExcludingVacantProperties 2022-09-01 2023-08-31 06348967 bus:Director1 2022-09-01 2023-08-31 06348967 core:PlantMachinery 2022-08-31 06348967 core:FurnitureFittingsToolsEquipment 2022-08-31 06348967 core:PlantMachinery 2023-08-31 06348967 core:FurnitureFittingsToolsEquipment 2023-08-31 06348967 core:WithinOneYear 2023-08-31 06348967 core:WithinOneYear 2022-08-31 06348967 core:ShareCapital 2023-08-31 06348967 core:ShareCapital 2022-08-31 06348967 core:RetainedEarningsAccumulatedLosses 2023-08-31 06348967 core:RetainedEarningsAccumulatedLosses 2022-08-31 06348967 core:PlantMachinery 2022-09-01 2023-08-31 06348967 core:PlantMachinery 2022-08-31 06348967 core:FurnitureFittingsToolsEquipment 2022-08-31 06348967 bus:Director1 2022-08-31 06348967 bus:Director1 2023-08-31 06348967 bus:Director1 2021-08-31 06348967 bus:Director1 2022-08-31 06348967 bus:Director1 2021-09-01 2022-08-31 06348967 bus:SmallEntities 2022-09-01 2023-08-31 06348967 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06348967 bus:FullAccounts 2022-09-01 2023-08-31 06348967 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 06348967 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06348967 core:ComputerEquipment 2022-09-01 2023-08-31
Company registration number: 06348967
Flight Profile Limited
Unaudited filleted financial statements
31 August 2023
Flight Profile Limited
Contents
Statement of financial position
Notes to the financial statements
Flight Profile Limited
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 2,085 2,943
_______ _______
2,085 2,943
Current assets
Cash at bank and in hand 150,745 162,695
_______ _______
150,745 162,695
Creditors: amounts falling due
within one year 5 ( 40,624) ( 44,725)
_______ _______
Net current assets 110,121 117,970
_______ _______
Total assets less current liabilities 112,206 120,913
_______ _______
Net assets 112,206 120,913
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 112,106 120,813
_______ _______
Shareholders funds 112,206 120,913
_______ _______
For the year ending 31 August 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 02 May 2024 , and are signed on behalf of the board by:
Mr R P Cox
Director
Company registration number: 06348967
Flight Profile Limited
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Flight Profile Limited, Old Orchard House, Beaconsfield Road, Chelwood Gate, Haywards Heath, RH17 7JU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Office Equipment - 25 % reducing balance
Computer Equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 September 2022 and 31 August 2023 11,579 5,950 17,529
_______ _______ _______
Depreciation
At 1 September 2022 10,104 4,482 14,586
Charge for the year 369 489 858
_______ _______ _______
At 31 August 2023 10,473 4,971 15,444
_______ _______ _______
Carrying amount
At 31 August 2023 1,106 979 2,085
_______ _______ _______
At 31 August 2022 1,475 1,468 2,943
_______ _______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Social security and other taxes 416 416
Other creditors 40,208 44,309
_______ _______
40,624 44,725
_______ _______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr R P Cox ( 40,628) 4,101 ( 36,527)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr R P Cox ( 40,108) ( 520) ( 40,628)
_______ _______ _______
7. Controlling party
The company is under the control of Mr R P Cox .