Company registration number 06481836 (England and Wales)
FLUID FILMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
FLUID FILMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FLUID FILMS LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,206
6,368
Current assets
Debtors
5
2,975
10,849
Cash at bank and in hand
29,125
9,723
32,100
20,572
Creditors: amounts falling due within one year
6
(15,195)
(23,242)
Net current assets/(liabilities)
16,905
(2,670)
Net assets
21,111
3,698
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
21,109
3,696
Total equity
21,111
3,698
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 July 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.
The financial statements were approved by the board of directors and authorised for issue on 13 February 2024 and are signed on its behalf by:
Mrs Lara Zmukic
Mr Ben Nugent
Director
Director
Company registration number 06481836 (England and Wales)
FLUID FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
Fluid Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 138 Sutherland Grove, Southfields, London, SW18 5QN.
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 £.
1.2
Turnover
Turnover represents amounts receivable for services.
1.3
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
25% on cost
Computer equipment
33% on cost
1.4
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
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.
FLUID FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 and 31 July 2023
22,876
Depreciation and impairment
At 1 August 2022
16,508
Depreciation charged in the year
2,162
At 31 July 2023
18,670
Carrying amount
At 31 July 2023
4,206
At 31 July 2022
6,368
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,975
10,849
FLUID FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,980
13,939
Corporation tax
8,158
6,478
Other taxation and social security
1,525
348
Other creditors
2,532
2,477
15,195
23,242