Company registration number 09270577 (England and Wales)
FLICK LEARNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
FLICK LEARNING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
FLICK LEARNING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
141,105
12,150
Tangible assets
4
9,915
9,975
151,020
22,125
Current assets
Debtors
5
131,788
145,066
Cash at bank and in hand
920,532
756,769
1,052,320
901,835
Creditors: amounts falling due within one year
6
(552,824)
(568,715)
Net current assets
499,496
333,120
Total assets less current liabilities
650,516
355,245
Provisions for liabilities
7
(2,478)
(1,771)
Net assets
648,038
353,474
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
648,037
353,473
Total equity
648,038
353,474

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FLICK LEARNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 October 2023 and are signed on its behalf by:
L Farino
C Richardson
Director
Director
Company Registration No. 09270577
FLICK LEARNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Flick Learning Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fargo Studios, 54 Grafton Street, Coventry, West Midlands, CV1 2HW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development Costs
3 to 5 years straight line basis
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
3 to 5 years straight line
Computer equipment
4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FLICK LEARNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

FLICK LEARNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
8
3
Intangible fixed assets
Development Costs
£
Cost
At 1 April 2022
90,938
Additions
131,775
At 31 March 2023
222,713
Amortisation and impairment
At 1 April 2022
78,788
Amortisation charged for the year
2,820
At 31 March 2023
81,608
Carrying amount
At 31 March 2023
141,105
At 31 March 2022
12,150
FLICK LEARNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
22,397
Additions
5,702
Disposals
(1,759)
At 31 March 2023
26,340
Depreciation and impairment
At 1 April 2022
12,422
Depreciation charged in the year
4,327
Eliminated in respect of disposals
(324)
At 31 March 2023
16,425
Carrying amount
At 31 March 2023
9,915
At 31 March 2022
9,975
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
99,992
92,407
Other debtors
31,796
52,659
131,788
145,066
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
865
23,872
Taxation and social security
135,593
130,797
Other creditors
416,366
414,046
552,824
568,715
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
8
2,478
1,771
FLICK LEARNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
2,478
1,771
2023
Movements in the year:
£
Liability at 1 April 2022
1,771
Charge to profit or loss
707
Liability at 31 March 2023
2,478
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
60
60
1
1
Ordinary B shares of 1p each
40
40
-
-
Ordinary C shares of 0.01p each
-
1
-
-
Ordinary E shares of 0.01p each
-
1
-
-

During the year the company cancelled the 1 C and E Ordinary share 0.01p.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
5,880
14,700
2023-03-312022-04-01false03 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityL FarinoC Richardson092705772022-04-012023-03-31092705772023-03-31092705772022-03-3109270577core:IntangibleAssetsOtherThanGoodwill2023-03-3109270577core:IntangibleAssetsOtherThanGoodwill2022-03-3109270577core:OtherPropertyPlantEquipment2023-03-3109270577core:OtherPropertyPlantEquipment2022-03-3109270577core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109270577core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3109270577core:CurrentFinancialInstruments2023-03-3109270577core:CurrentFinancialInstruments2022-03-3109270577core:ShareCapital2023-03-3109270577core:ShareCapital2022-03-3109270577core:RetainedEarningsAccumulatedLosses2023-03-3109270577core:RetainedEarningsAccumulatedLosses2022-03-3109270577bus:Director12022-04-012023-03-3109270577bus:Director22022-04-012023-03-3109270577core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3109270577core:FurnitureFittings2022-04-012023-03-3109270577core:ComputerEquipment2022-04-012023-03-31092705772021-04-012022-03-3109270577core:IntangibleAssetsOtherThanGoodwill2022-03-3109270577core:OtherPropertyPlantEquipment2022-03-3109270577core:OtherPropertyPlantEquipment2022-04-012023-03-3109270577core:WithinOneYear2023-03-3109270577core:WithinOneYear2022-03-3109270577bus:PrivateLimitedCompanyLtd2022-04-012023-03-3109270577bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3109270577bus:FRS1022022-04-012023-03-3109270577bus:AuditExemptWithAccountantsReport2022-04-012023-03-3109270577bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP