Company registration number 07212523 (England and Wales)
FLYERALARM LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FLYERALARM LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
FLYERALARM LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
-
0
879
Current assets
Trade and other receivables
5
7,019
1,536
Cash and cash equivalents
39,916
25,457
46,935
26,993
Current liabilities
6
(469,240)
(469,125)
Net current liabilities
(422,305)
(442,132)
Net liabilities
(422,305)
(441,253)
Equity
Called up share capital
586,821
586,821
Retained earnings
(1,009,126)
(1,028,074)
Total equity
(422,305)
(441,253)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 24 July 2024
Mr F  Pewestorf
Director
Company registration number 07212523 (England and Wales)
FLYERALARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

flyeralarm Limited is a private company limited by shares incorporated in England and Wales. The registered office is 44 Southampton Buildings, London, WC2A 1AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company made a profit after tax of £18,948 for the year, however the balance sheet shows the company has net liabilities of £422,305. The ultimate parent company, flyeralarm GmbH, which provides day to day finance, has agreed to provide financial support to allow the company to meet its debts as they fall due for at least twelve months from the signing of these financial statements.true

 

Therefore the financial statements have been prepared on a going concern basis as the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future at the time of approving the financial statements.

1.3
Revenue

Turnover represents amounts derived from ordinary activities, and is stated net of VAT and trade discounts. Turnover is recognised once the company obtains right to consideration, and is measured at the fair value of the consideration due.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Property, plant and equipment

Property, plant and equipment 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:

Fixtures, fittings and equipment
Straight line over 3 years

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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FLYERALARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

FLYERALARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.10
Foreign exchange

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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2023
4,163
Disposals
(1,583)
At 31 December 2023
2,580
Depreciation and impairment
At 1 January 2023
3,284
Depreciation charged in the year
395
Eliminated in respect of disposals
(1,099)
At 31 December 2023
2,580
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
879
FLYERALARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
690
-
0
Other receivables
6,329
1,536
7,019
1,536
6
Current liabilities
2023
2022
£
£
Trade payables
21,295
28,895
Amounts owed to group undertakings
435,356
431,080
Taxation and social security
2,189
-
0
Other payables
10,400
9,150
469,240
469,125
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

 

 

Senior Statutory Auditor:
Jayson Lawson
Statutory Auditor:
Ensors Accountants LLP
Date of audit report:
26 July 2024
8
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for its premises and items of office equipment.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
410
410
FLYERALARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
9
Parent company

The immediate and ultimate parent company is flyeralarm GmbH, a company incorporated in Germany. The registered office is Alfred-Nobel-Strasse 18 Wuerzburg, 97080 Germany.

 

The consolidated accounts of flyeralarm GmbH are available to the public, and copies can be obtained from www.bundesanzeiger.de.

 

10
Related party transactions

As a wholly owned subsidiary of Flyeralarm GmbH, the company has taken advantage of the exemption available under paragraph 33.1A of FRS 102 not to disclose details of transactions with other group undertakings.

2023-12-312023-01-01false26 July 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedMr F Pewestorffalsefalse2024-07-24072125232023-01-012023-12-31072125232023-12-31072125232022-12-3107212523core:OtherPropertyPlantEquipment2023-12-3107212523core:OtherPropertyPlantEquipment2022-12-3107212523core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3107212523core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3107212523core:CurrentFinancialInstruments2023-12-3107212523core:CurrentFinancialInstruments2022-12-3107212523core:ShareCapital2023-12-3107212523core:ShareCapital2022-12-3107212523core:RetainedEarningsAccumulatedLosses2023-12-3107212523core:RetainedEarningsAccumulatedLosses2022-12-3107212523bus:Director12023-01-012023-12-3107212523core:FurnitureFittings2023-01-012023-12-31072125232022-01-012022-12-3107212523core:OtherPropertyPlantEquipment2022-12-3107212523core:OtherPropertyPlantEquipment2023-01-012023-12-3107212523core:WithinOneYear2023-12-3107212523core:WithinOneYear2022-12-3107212523bus:PrivateLimitedCompanyLtd2023-01-012023-12-3107212523bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107212523bus:FRS1022023-01-012023-12-3107212523bus:Audited2023-01-012023-12-3107212523bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP