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REGISTERED NUMBER: 10402874 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Fluidly Limited

Fluidly Limited (Registered number: 10402874)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Fluidly Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: N T Lee
J J Perlman Azout
R Nanji





REGISTERED OFFICE: Leonard Curtis House
Elms Square
Bury New Road
Whitefield
Greater Manchester
M45 7TA





REGISTERED NUMBER: 10402874 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Fluidly Limited (Registered number: 10402874)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 - 4,275
Tangible assets 5 - 17,828
- 22,103

CURRENT ASSETS
Debtors 6 96,585 313,260
Cash at bank 67,128 111,308
163,713 424,568
CREDITORS
Amounts falling due within one year 7 (49,686 ) (674,244 )
NET CURRENT ASSETS/(LIABILITIES) 114,027 (249,676 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,027

(227,573

)

CAPITAL AND RESERVES
Called up share capital 8 1,275,225 900,225
Share premium 7,349,714 7,349,714
Retained earnings (8,510,912 ) (8,477,512 )
SHAREHOLDERS' FUNDS 114,027 (227,573 )

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.

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 21 August 2024 and were signed on its behalf by:





J J Perlman Azout - Director


Fluidly Limited (Registered number: 10402874)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Fluidly Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Websites are amortised evenly over its estimated useful life of five years.
Patents and licences are amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery- 33% on cost
Fixtures and fittings- 20% on cost
Computer equipment- 33% 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Fluidly Limited (Registered number: 10402874)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 income statement in the period to which they relate.

Grant income
Grant income in respect of revenue expenditure is matched and released to the income statement as the expenditure is incurred.

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 January 2023 41,142
Disposals (41,142 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 36,867
Charge for year 4,275
Eliminated on disposal (41,142 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 4,275

Fluidly Limited (Registered number: 10402874)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 155,415
Disposals (155,415 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 137,587
Charge for year 2,164
Eliminated on disposal (139,751 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 17,828

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 3,000 232,852
Amounts owed by group undertakings 62,589 -
Other debtors 30,996 80,408
96,585 313,260

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 8,123 578
Amounts owed to group undertakings - 313,505
Taxation and social security - 119,718
Other creditors 41,563 240,443
49,686 674,244

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
127,512,701,240 Ordinary £0.00001 1,275,127 900,127
4,561,300 Ordinary A £0.00001 46 46
5,234,764 Series A £0.00001 52 52
1,275,225 900,225

37,500,000,000 Ordinary shares of £0.00001 each were allotted and fully paid for cash at par during the year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Oaknorth International (Uk) Limited. The registered office address is 57 Broadwick Street, Soho, London, England, W1F 9QS.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fluidly Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fluidly Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fluidly Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fluidly Limited and state those matters that we have agreed to state to the Board of Directors of Fluidly Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fluidly Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fluidly Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fluidly Limited. You consider that Fluidly Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fluidly Limited. 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 statutory financial statements.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


21 August 2024