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REGISTERED NUMBER: 04123381 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FIREFLY TECHNOLOGY LIMITED

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIREFLY TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A C Baker
S J Cox





REGISTERED OFFICE: The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN





REGISTERED NUMBER: 04123381 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 794 1,441
794 1,441

CURRENT ASSETS
Debtors 6 854,453 962,962
Cash at bank and in hand 940,096 645,286
1,794,549 1,608,248
CREDITORS
Amounts falling due within one year 7 138,526 127,712
NET CURRENT ASSETS 1,656,023 1,480,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,656,817

1,481,977

PROVISIONS FOR LIABILITIES - 117
NET ASSETS 1,656,817 1,481,860

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,656,717 1,481,760
SHAREHOLDERS' FUNDS 1,656,817 1,481,860

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

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

The directors acknowledge their 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.

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

BALANCE SHEET - continued
31 DECEMBER 2023


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 and authorised for issue by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:




S J Cox - Director



A C Baker - Director


FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Firefly Technology 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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:

Plant and machinery25% on reducing balance
Fixtures and fittings25% on reducing balance
Computer equipment 33% on cost
Vehicles25% on cost

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.

Impairment of assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss, unless it’s carried at a revalued amount, where the impairment loss is a revaluation decrease.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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.

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
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.

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.

Pension costs and other post-retirement benefits
Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.

Employee benefits
Short-term employees’ benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 300,000
AMORTISATION
At 1 January 2023
and 31 December 2023 300,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 110 4,053 739 5,752 10,654
Disposals - - (739 ) - (739 )
At 31 December 2023 110 4,053 - 5,752 9,915
DEPRECIATION
At 1 January 2023 110 3,189 739 5,175 9,213
Charge for year - 215 - 432 647
Eliminated on disposal - - (739 ) - (739 )
At 31 December 2023 110 3,404 - 5,607 9,121
NET BOOK VALUE
At 31 December 2023 - 649 - 145 794
At 31 December 2022 - 864 - 577 1,441

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 50,353 59,280
Amounts owed by group undertakings 802,698 902,698
Other debtors 1,402 984
854,453 962,962

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,241 995
Taxation and social security 122,968 111,479
Other creditors 14,317 15,238
138,526 127,712

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 11,000 58,772
Between one and five years 18,333 -
29,333 58,772

FIREFLY TECHNOLOGY LIMITED (REGISTERED NUMBER: 04123381)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The parent company of Firefly Technology Limited is Belgarum Technology Holdings Ltd and its registered office is The Lightbox, 87 Castle Street, Reading, Berkshire, RG1 7SN.

The ultimate controlling party is S J Cox.