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COMPANY REGISTRATION NUMBER: 04523778
Floating Duck Limited
Filleted Unaudited Financial Statements
31 August 2023
Floating Duck Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
706,877
231,771
Cash at bank and in hand
113,567
565,296
---------
---------
820,444
797,067
Creditors: amounts falling due within one year
5
( 1,198,346)
( 1,262,273)
------------
------------
Net current liabilities
( 377,902)
( 465,206)
---------
---------
Total assets less current liabilities
( 377,902)
( 465,206)
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 378,902)
( 466,206)
---------
---------
Shareholders deficit
( 377,902)
( 465,206)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 March 2024 , and are signed on behalf of the board by:
Mrs J M A Henman
Director
Company registration number: 04523778
Floating Duck Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Godalming Business Centre, Woolsack Way, Godalming, Surrey, GU71XW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis not withstanding the deficit of net assets. the shareholder has agreed to support the company for the foreseeable future.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2023
2022
£
£
Other debtors
706,877
231,771
---------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,198,346
1,262,273
------------
------------
6. Controlling party
The ultimate controlling party is Jasmine Trustees Ltd who are based in the Channel Islands. Accounts are available from the Companies Registry, PO Box 111. 14-18 Castle Street, St Helier, Jersey, JE4 9QD, Channel Islands.