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REGISTERED NUMBER: SC475449 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Float Colab Ltd

Float Colab Ltd (Registered number: SC475449)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Float Colab Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr E D Fraser





REGISTERED OFFICE: 531a North Deeside Road
Cults
Aberdeen
AB15 9ES





REGISTERED NUMBER: SC475449 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Float Colab Ltd (Registered number: SC475449)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,969 2,481

CURRENT ASSETS
Debtors 5 31,421 43,646
Cash at bank 19,966 9,753
51,387 53,399
CREDITORS
Amounts falling due within one year 6 34,609 31,287
NET CURRENT ASSETS 16,778 22,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,747

24,593

CREDITORS
Amounts falling due after more than one
year

7

(17,883

)

(23,200

)

PROVISIONS FOR LIABILITIES (605 ) (471 )
NET ASSETS 1,259 922

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 1,239 902
1,259 922

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

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

The director acknowledges his 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.

Float Colab Ltd (Registered number: SC475449)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 March 2024 and were signed by:





Mr E D Fraser - Director


Float Colab Ltd (Registered number: SC475449)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Float Colab Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

Float Colab Ltd (Registered number: SC475449)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 6,843 7,165 14,008
Additions - 1,477 1,477
At 31 July 2023 6,843 8,642 15,485
DEPRECIATION
At 1 August 2022 6,380 5,147 11,527
Charge for year 115 874 989
At 31 July 2023 6,495 6,021 12,516
NET BOOK VALUE
At 31 July 2023 348 2,621 2,969
At 31 July 2022 463 2,018 2,481

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 31,421 43,646

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 5,800 5,800
Taxation and social security 22,825 19,783
Other creditors 5,984 5,704
34,609 31,287

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 17,883 23,200

Float Colab Ltd (Registered number: SC475449)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mr E D Fraser
Balance outstanding at start of year 22,827 4,793
Amounts advanced 34,686 26,689
Amounts repaid (20,193 ) (8,655 )
Amounts written off (22,827 ) -
Amounts waived - -
Balance outstanding at end of year 14,493 22,827

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr E D Fraser.