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REGISTERED NUMBER: 11462449 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Flutterlab Ltd

Flutterlab Ltd (Registered number: 11462449)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Flutterlab Ltd

Company Information
for the Year Ended 31 December 2023







Directors: N S Munro
A Munro
A M Aguilar





Registered office: 1 Kilmorey Park Road
Chester
CH2 3QT





Registered number: 11462449 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Flutterlab Ltd (Registered number: 11462449)

Statement of Financial Position
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 17,224 13,440
Tangible assets 5 2,160 702
19,384 14,142

Current assets
Debtors 6 94,943 20,212
Cash at bank 30,618 43,419
125,561 63,631
Creditors
Amounts falling due within one year 7 219,070 110,832
Net current liabilities (93,509 ) (47,201 )
Total assets less current liabilities (74,125 ) (33,059 )

Capital and reserves
Called up share capital 8 7,765 7,412
Share premium 787,230 667,591
Retained earnings (869,120 ) (708,062 )
Shareholders' funds (74,125 ) (33,059 )

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

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

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.

Flutterlab Ltd (Registered number: 11462449)

Statement of Financial Position - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





N S Munro - Director


Flutterlab Ltd (Registered number: 11462449)

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

1. Statutory information

Flutterlab Ltd is a private company, limited by shares , registered in England and Wales. 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.

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.

Patents are being amortised evenly over their estimated useful life of five years.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Flutterlab Ltd (Registered number: 11462449)

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

2. Accounting policies - continued

Going concern
The financial statements have been prepared on the going concern basis of accounting, on the assumption that the directors will provide financial support to enable the company to meet its liabilities, which exceeded its assets at 31 December 2023.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 4 ) .

4. Intangible fixed assets
Patents
£   
Cost
At 1 January 2023 16,800
Additions 8,930
At 31 December 2023 25,730
Amortisation
At 1 January 2023 3,360
Amortisation for year 5,146
At 31 December 2023 8,506
Net book value
At 31 December 2023 17,224
At 31 December 2022 13,440

5. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 January 2023 1,132
Additions 2,322
At 31 December 2023 3,454
Depreciation
At 1 January 2023 430
Charge for year 864
At 31 December 2023 1,294
Net book value
At 31 December 2023 2,160
At 31 December 2022 702

Flutterlab Ltd (Registered number: 11462449)

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

6. Debtors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Other debtors 94,943 20,212

7. Creditors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade creditors 41,142 64,059
Taxation and social security 2,196 21,244
Other creditors 175,732 25,529
219,070 110,832

Included in Other creditors for the year ended 31 December 2023 is £106,754 representing the receipt in advance of part of the consideration for the issue of Ordinary shares in 2024.

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
776,469 Ordinary £0.01 7,765 7,412

On 20 February 2023, 8,823 £0.01 Ordinary shares were issued for cash at £3.40 per share. On 5 April 2023, 14,705 £0.01 Ordinary shares were issued for cash at £3.40 per share. On 3 May 2023, 11,764 £0.01 Ordinary shares were issued for cash at £3.40 per share.

9. Related party disclosures

Two directors have made loans to the company. The balance on these loans at 31 December 2023 was £1,437 (2022 - £2,060). These loans are interest free, unsecured and repayable on demand.

10. Post balance sheet events

On 5 April 2024, 67,961 Ordinary shares of £0.01 were issued for cash at £5.15 per share. The total share capital after this issue was £8,444 and the balance on the Share Premium account was £1,136,550. Of the consideration due for this share issue, £106,754 had been received by 31 December 2023.