Floating Technologies Limited Company Accounts

FLOATING TECHNOLOGIES LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2017 Update 2 - FRS 2,772 2,240 266 2,506 266 532 xbrli:pure xbrli:shares iso4217:GBP 04026064 2017-04-01 2018-03-31 04026064 2018-03-31 04026064 2017-03-31 04026064 2016-04-01 2017-03-31 04026064 2017-03-31 04026064 bus:OrdinaryShareClass1 2017-04-01 2018-03-31 04026064 bus:Director1 2017-04-01 2018-03-31 04026064 core:WithinOneYear 2018-03-31 04026064 core:WithinOneYear 2017-03-31 04026064 core:ShareCapital 2018-03-31 04026064 core:ShareCapital 2017-03-31 04026064 core:RetainedEarningsAccumulatedLosses 2018-03-31 04026064 core:RetainedEarningsAccumulatedLosses 2017-03-31 04026064 bus:FRS102 2017-04-01 2018-03-31 04026064 bus:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 04026064 bus:FullAccounts 2017-04-01 2018-03-31 04026064 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 04026064 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 04026064 bus:OrdinaryShareClass1 2018-03-31 04026064 bus:OrdinaryShareClass1 2017-03-31 04026064 core:ComputerEquipment 2017-04-01 2018-03-31 04026064 core:ComputerEquipment 2018-03-31 04026064 core:ComputerEquipment 2017-03-31

COMPANY REGISTRATION NUMBER: 04026064

FLOATING TECHNOLOGIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2018

FLOATING TECHNOLOGIES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 3

FLOATING TECHNOLOGIES LIMITED

BALANCE SHEET

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	266	532

Current assets

Debtors	6	62	–
Cash at bank and in hand		10,795	28,304
		------------	------------
		10,857	28,304

Creditors: amounts falling due within one year	7	( 13,517)	( 15,189)
		------------	------------
Net current (liabilities)/assets		( 2,660)	13,115
		------------	------------
Total assets less current liabilities		( 2,394)	13,647
		------------	------------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		( 2,494)	13,547
		------------	------------
Members (deficit)/funds		( 2,394)	13,647
		------------	------------

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 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 profit and loss account has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 July 2018 , and are signed on behalf of the board by:

Ms A Callanan
Director

Company registration number: 04026064

FLOATING TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.

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 the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and 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:

	Computer equipment	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Tangible assets

	Computer equipment
	£
Cost
At 1 April 2017 and 31 March 2018	2,772
	------------
Depreciation
At 1 April 2017	2,240
Charge for the year	266
	------------
At 31 March 2018	2,506
	------------
Carrying amount
At 31 March 2018	266
	------------
At 31 March 2017	532
	------------

6. Debtors

	2018	2017
	£	£
Other debtors	62	–
	------------	------------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	3,123	2,531
Social security and other taxes	8	451
Director's loan account	10,386	12,207
	------------	------------
	13,517	15,189
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	------------	------------	------------	------------

9. Related party transactions

The director's loan of £10,386 (2017: £12,207) set out above is unsecured, repayable on demand and currently interest free. The company is controlled by the director.