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Company No: 05471488 (England and Wales)

FLOODMATIK LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

FLOODMATIK LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

FLOODMATIK LTD

COMPANY INFORMATION

For the financial year ended 30 June 2023
FLOODMATIK LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2023
DIRECTORS G T Evans
P A Fairhurst
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
England
United Kingdom
COMPANY NUMBER 05471488 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
FLOODMATIK LTD

BALANCE SHEET

As at 30 June 2023
FLOODMATIK LTD

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 40,450 0
Tangible assets 4 14,515 5,000
54,965 5,000
Current assets
Debtors 5 36,235 100
Cash at bank and in hand 6 736 979
36,971 1,079
Creditors: amounts falling due within one year 7 ( 91,161) ( 7,119)
Net current liabilities (54,190) (6,040)
Total assets less current liabilities 775 (1,040)
Creditors: amounts falling due after more than one year 8 ( 49,260) 0
Net liabilities ( 48,485) ( 1,040)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 48,585 ) ( 1,140 )
Total shareholders' deficit ( 48,485) ( 1,040)

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Floodmatik Ltd (registered number: 05471488) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

G T Evans
Director
FLOODMATIK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
FLOODMATIK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Floodmatik Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements due to the continued support of the directors who are owed £36,000 at the year end. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Included within Other Operating Income is £2,398 from Cornwall Council.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 July 2022 0 0
Additions 40,450 40,450
At 30 June 2023 40,450 40,450
Accumulated amortisation
At 01 July 2022 0 0
At 30 June 2023 0 0
Net book value
At 30 June 2023 40,450 40,450
At 30 June 2022 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2022 5,000 5,000
Additions 12,933 12,933
At 30 June 2023 17,933 17,933
Accumulated depreciation
At 01 July 2022 0 0
Charge for the financial year 3,418 3,418
At 30 June 2023 3,418 3,418
Net book value
At 30 June 2023 14,515 14,515
At 30 June 2022 5,000 5,000

5. Debtors

2023 2022
£ £
Other debtors 36,235 100

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 736 979

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 49,327 0
Other creditors 41,834 7,119
91,161 7,119

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 49,260 0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each 100 100