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Registered number: 08559763
Flybubble Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Time Accounts Ltd
Basepoint Business Centre
Little High Street
Shoreham-By-Sea
West Sussex
BN43 5EG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08559763
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,309 13,339
Tangible Assets 5 19,258 27,101
25,567 40,440
CURRENT ASSETS
Stocks 6 234,307 316,886
Debtors 7 50,673 13,712
Cash at bank and in hand 25,006 105,924
309,986 436,522
Creditors: Amounts Falling Due Within One Year 8 (137,494 ) (187,241 )
NET CURRENT ASSETS (LIABILITIES) 172,492 249,281
TOTAL ASSETS LESS CURRENT LIABILITIES 198,059 289,721
Creditors: Amounts Falling Due After More Than One Year 9 (14,963 ) (17,190 )
NET ASSETS 183,096 272,531
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 182,996 272,431
SHAREHOLDERS' FUNDS 183,096 272,531
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Carlo Borsattino
Director
Miss Nancy Elliott
Director
19/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Flybubble Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08559763 . The registered office is 1 Manor Close, Ringmer, Lewes, East Sussex, BN8 5PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 50% Straight line
Motor Vehicles 25% Reduced balance
Fixtures & Fittings 25% Straight line
Computer Equipment 33% Straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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2.7. Foreign Currencies
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
2.8. Taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
2.9. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 45,000 28,118 73,118
As at 31 March 2024 45,000 28,118 73,118
Amortisation
As at 1 April 2023 45,000 14,779 59,779
Provided during the period - 7,030 7,030
As at 31 March 2024 45,000 21,809 66,809
Net Book Value
As at 31 March 2024 - 6,309 6,309
As at 1 April 2023 - 13,339 13,339
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 7,130 34,830 13,007 9,699 64,666
As at 31 March 2024 7,130 34,830 13,007 9,699 64,666
Depreciation
As at 1 April 2023 7,130 10,587 12,478 7,370 37,565
Provided during the period - 6,061 463 1,319 7,843
As at 31 March 2024 7,130 16,648 12,941 8,689 45,408
Net Book Value
As at 31 March 2024 - 18,182 66 1,010 19,258
As at 1 April 2023 - 24,243 529 2,329 27,101
6. Stocks
2024 2023
£ £
Finished goods 234,307 316,886
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 26,171 11,367
Prepayments and accrued income 9,269 2,345
Corporation tax recoverable assets 15,233 -
50,673 13,712
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,228 2,228
Trade creditors 53,116 59,222
Corporation tax 5,155 15,233
Other taxes and social security - 285
VAT 2,572 4,958
Pension contributions unpaid - 66
Accruals and deferred income 1,650 1,150
Directors' loan accounts 72,773 104,099
137,494 187,241
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,963 17,190
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,228 2,228
Later than one year and not later than five years 14,963 17,190
17,191 19,418
17,191 19,418
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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