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Registered Number: 09446513
England and Wales

 

 

 


Abridged Accounts

for the year ended 29 February 2024

for

FLUX FX LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1,500    3,000 
Tangible fixed assets 4 11,104    15,380 
12,604    18,380 
Current assets      
Debtors 2,832    6,452 
Cash at bank and in hand 50,001    24,531 
52,833    30,983 
Creditors: amount falling due within one year (21,044)   (19,212)
Net current assets 31,789    11,771 
 
Total assets less current liabilities 44,393    30,151 
Provisions for liabilities   (2,922)
Net assets 44,393    27,229 
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account 44,392    27,228 
Shareholders' funds 44,393    27,229 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 14 August 2024 and were signed by:


-------------------------------
Martin McLaughlin
Director
1
General Information
Flux Fx Ltd is a private company, limited by shares, registered in England and Wales, registration number 09446513, registration address Flat 5 Oxford House, London Road, Cirencester, Cirencester, GL7 2PU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures & Fittings 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2023 15,000    15,000 
Additions  
Disposals  
At 29 February 2024 15,000    15,000 
Amortisation
At 01 March 2023 12,000    12,000 
Charge for year 1,500    1,500 
On disposals  
At 29 February 2024 13,500    13,500 
Net book values
At 29 February 2024 1,500    1,500 
At 28 February 2023 3,000    3,000 


4.

Tangible fixed assets

Cost or valuation Fixtures & Fittings   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 March 2023 26,759    18,000    2,589    47,348 
Additions      
Disposals      
At 29 February 2024 26,759    18,000    2,589    47,348 
Depreciation
At 01 March 2023 23,230    7,875    863    31,968 
Charge for year 882    2,531    863    4,276 
On disposals      
At 29 February 2024 24,112    10,406    1,726    36,244 
Net book values
Closing balance as at 29 February 2024 2,647    7,594    863    11,104 
Opening balance as at 01 March 2023 3,529    10,125    1,726    15,380 


5.

Share Capital

Authorised
100 Class A shares of £0.01 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £0.01 each  
 

2