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DISCOVER FLYING LIMITED

Registered Number
07806308
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2022

DISCOVER FLYING LIMITED
Company Information
for the year from 1 November 2021 to 31 October 2022

Director

TURNER, Kevin Mark

Registered Address

71-75 Shelton Street Shelton Street
London
WC2H 9JQ

Registered Number

07806308 (England and Wales)
DISCOVER FLYING LIMITED
Statement of Financial Position
31 October 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets51,4902,295
1,4902,295
Current assets
Debtors66,960-
Cash at bank and on hand18,10615,213
25,06615,213
Creditors amounts falling due within one year7(7,845)(15,909)
Net current assets (liabilities)17,221(696)
Total assets less current liabilities18,7111,599
Net assets18,7111,599
Capital and reserves
Called up share capital11
Profit and loss account18,7101,598
Shareholders' funds18,7111,599
The financial statements were approved and authorised for issue by the Director on 18 October 2023, and are signed on its behalf by:
TURNER, Kevin Mark
Director
Registered Company No. 07806308
DISCOVER FLYING LIMITED
Notes to the Financial Statements
for the year ended 31 October 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20222021
Average number of employees during the year11
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 211,3199762,295
Additions-155155
Disposals-(166)(166)
At 31 October 221,3199652,284
Depreciation and impairment
Charge for year367427794
At 31 October 22367427794
Net book value
At 31 October 229525381,490
At 31 October 211,3199762,295
6.Debtors

2022

2021

££
Trade debtors / trade receivables6,960-
Total6,960-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2022

2021

££
Taxation and social security7,3701,669
Other creditors7914,240
Accrued liabilities and deferred income396-
Total7,84515,909
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.