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Registered number: 13436943
Fluid Acquisitions Ltd
Unaudited Financial Statements
For the Period 1 July 2022 to 30 November 2023
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Fluid Acquisitions Ltd for the period 1 July 2022 to 30 November 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Fluid Acquisitions Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Fluid Acquisitions Ltd , as a body, in accordance with the terms of our engagement letter dated 22/03/2023. Our work has been undertaken solely to prepare for your approval the accounts of Fluid Acquisitions Ltd and state those matters that we have agreed to state to the directors of Fluid Acquisitions Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fluid Acquisitions Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Fluid Acquisitions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Fluid Acquisitions Ltd . You consider that Fluid Acquisitions Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Fluid Acquisitions Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
28th August 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 13436943
30 November 2023 30 June 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 851,881 852,111
851,881 852,111
CURRENT ASSETS
Debtors 4 3,818 2,950
Cash at bank and in hand 734 2,043
4,552 4,993
Creditors: Amounts Falling Due Within One Year 5 (20,010 ) (21,345 )
NET CURRENT ASSETS (LIABILITIES) (15,458 ) (16,352 )
TOTAL ASSETS LESS CURRENT LIABILITIES 836,423 835,759
Creditors: Amounts Falling Due After More Than One Year 6 (848,963 ) (847,523 )
NET LIABILITIES (12,540 ) (11,764 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (12,640 ) (11,864 )
SHAREHOLDERS' FUNDS (12,540) (11,764)
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For the period ending 30 November 2023 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 Duncan Gray
Director
28th August 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This assumption may not be valid since at the balance sheet date the company has net liabilities of £12,540 (2022: £11,764). The validity of the going concern assumption therefore depends on the continued support of the director, suppliers and the company's bankers and other providers of finance.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rental property.
1.4. 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:
Fixtures & Fittings 25% Reducing Balance Method
1.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2022: 3)
3 3
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3. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2022 850,333 1,978 852,311
Additions - 451 451
As at 30 November 2023 850,333 2,429 852,762
Depreciation
As at 1 July 2022 - 200 200
Provided during the period - 681 681
As at 30 November 2023 - 881 881
Net Book Value
As at 30 November 2023 850,333 1,548 851,881
As at 1 July 2022 850,333 1,778 852,111
4. Debtors
30 November 2023 30 June 2022
£ £
Due within one year
Other debtors 3,818 2,950
3,818 2,950
5. Creditors: Amounts Falling Due Within One Year
30 November 2023 30 June 2022
£ £
Bank loans and overdrafts 19,652 19,652
Other creditors 358 1,693
20,010 21,345
6. Creditors: Amounts Falling Due After More Than One Year
30 November 2023 30 June 2022
£ £
Bank loans 588,523 588,523
Amounts owed to participating interests 260,440 259,000
848,963 847,523
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7. Secured Creditors
The loan is secured on the property to which it relates.
30 November 2023 30 June 2022
£ £
Bank loans and overdrafts 608,175 608,175
8. Provisions for Liabilities
Deferred Tax
£
As at 1 July 2022 (2,880 )
Additions (194 )
Balance at 30 November 2023 (3,074 )
9. Share Capital
30 November 2023 30 June 2022
£ £
Allotted, Called up and fully paid 100 100
Value Number 30 November 2023 30 June 2022
Allotted, called up and fully paid £ £ £
Ordinary A shares 1 37 37 37
Ordinary B shares 1 43 43 43
Ordinary C shares 1 20 20 20
100 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Miss Laura Woodall (135 ) 809 - - 674
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
12. General Information
Fluid Acquisitions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13436943 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.
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