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REGISTERED NUMBER: 06619476 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

FLOATING WORLD RECORDS LIMITED

FLOATING WORLD RECORDS LIMITED (Registered number: 06619476)






Contents of the Financial Statements
for the Year Ended 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FLOATING WORLD RECORDS LIMITED

Company Information
for the Year Ended 31 JANUARY 2023







DIRECTOR: J P Beckitt





REGISTERED OFFICE: 85-87 Bayham Street
London
NW1 0AG





REGISTERED NUMBER: 06619476 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

FLOATING WORLD RECORDS LIMITED (Registered number: 06619476)

Balance Sheet
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 727 970

CURRENT ASSETS
Stocks 196,718 204,066
Debtors 5 277,523 241,252
474,241 445,318
CREDITORS
Amounts falling due within one year 6 245,580 258,733
NET CURRENT ASSETS 228,661 186,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

229,388

187,555

CREDITORS
Amounts falling due after more than one year 7 95,247 45,966
NET ASSETS 134,141 141,589

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 134,041 141,489
SHAREHOLDERS' FUNDS 134,141 141,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:



J P Beckitt - Director


FLOATING WORLD RECORDS LIMITED (Registered number: 06619476)

Notes to the Financial Statements
for the Year Ended 31 JANUARY 2023

1. STATUTORY INFORMATION

FLOATING WORLD RECORDS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

FLOATING WORLD RECORDS LIMITED (Registered number: 06619476)

Notes to the Financial Statements - continued
for the Year Ended 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 February 2022
and 31 January 2023 3,067
DEPRECIATION
At 1 February 2022 2,097
Charge for year 243
At 31 January 2023 2,340
NET BOOK VALUE
At 31 January 2023 727
At 31 January 2022 970

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 26,845 14,541
Other debtors 124,504 98,860
Amount owed from company under
common ownership 125,419 126,814
VAT 755 1,037
277,523 241,252

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 29,681 30,589
Other loans 21,998 29,556
Trade creditors 71,035 62,760
Tax - 1,961
Directors' current accounts 116,967 127,967
Accrued expenses 5,899 5,900
245,580 258,733

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 10,042 10,000
Bank loans - 2-5 years 30,126 30,000
Bank loans more 5 yr by instal 3,347 3,336
Other loans - 1-2 years 27,196 2,630
Other loans - 2-5 years 24,536 -
95,247 45,966

FLOATING WORLD RECORDS LIMITED (Registered number: 06619476)

Notes to the Financial Statements - continued
for the Year Ended 31 JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.23 31.1.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,347 3,336

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank overdrafts 22,986 23,922

HSBC Bank plc holds a fixed and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

Floating World Limited

A company under common directorship and shareholding.


Transactions

During the year the company was charged direct costs totalling £15,048 by Floating World Limited. The company also recovered costs of £13,220 from the same company.

31.1.23 31.1.22
£    £   
Amount due from related party at the balance sheet date 125,419 126,814

11. ULTIMATE CONTROLLING PARTY

The controlling party is J P Beckitt.