REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 MARCH 2023 |
FOR |
FIVE-OWLS (TECHNOLOGY) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 MARCH 2023 |
FOR |
FIVE-OWLS (TECHNOLOGY) LIMITED |
FIVE-OWLS (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 03960996) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 28 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FIVE-OWLS (TECHNOLOGY) LIMITED |
COMPANY INFORMATION |
for the year ended 28 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Preston Park House |
South Road |
Brighton |
East Sussex |
BN1 6SB |
FIVE-OWLS (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 03960996) |
BALANCE SHEET |
28 March 2023 |
28.3.23 | 28.3.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FIVE-OWLS (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 03960996) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 28 March 2023 |
1. | STATUTORY INFORMATION |
Five-Owls (Technology) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows: |
Revenue from the sale of services is recognised at the point of sale. |
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. |
Tangible fixed assets |
Tangible fixed assets are stated at cost, or deemed cost, [or valuation] less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant & machinery | - | 10 years on cost |
Financial instruments |
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 entity after deducting all of its financial liabilities. |
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. |
FIVE-OWLS (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 03960996) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 29 March 2022 |
and 28 March 2023 |
AMORTISATION |
At 29 March 2022 |
and 28 March 2023 |
NET BOOK VALUE |
At 28 March 2023 |
At 28 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 29 March 2022 |
and 28 March 2023 |
DEPRECIATION |
At 29 March 2022 |
and 28 March 2023 |
NET BOOK VALUE |
At 28 March 2023 |
At 28 March 2022 |
FIVE-OWLS (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 03960996) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.3.23 | 28.3.22 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.3.23 | 28.3.22 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.3.23 | 28.3.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |