2023-02-012024-01-312024-01-31false11169608FEIS LIFE APP 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FEIS LIFE APP LIMITED

Registered Number
11169608
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

FEIS LIFE APP LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

DAVIS, Anthony Paul
O'BRIEN, Sean Patrick
O'SULLIVAN, Liam Matthew

Registered Address

32 Linden Way
Ponteland
Newcastle Upon Tyne
NE20 9DP

Registered Number

11169608 (England and Wales)
FEIS LIFE APP LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4-785
-785
Current assets
Debtors524,79225,670
Cash at bank and on hand13,01318,096
37,80543,766
Creditors amounts falling due within one year6(11,303)(2,947)
Net current assets (liabilities)26,50240,819
Total assets less current liabilities26,50241,604
Creditors amounts falling due after one year7(5,916)(20,000)
Net assets20,58621,604
Capital and reserves
Called up share capital33
Profit and loss account20,58321,601
Shareholders' funds20,58621,604
The financial statements were approved and authorised for issue by the Board of Directors on 2 September 2024, and are signed on its behalf by:
DAVIS, Anthony Paul
Director
O'BRIEN, Sean Patrick
Director
O'SULLIVAN, Liam Matthew
Director

Registered Company No. 11169608
FEIS LIFE APP LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
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 policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is charged at a rate to write off the cost of intangible fixed assets evenly over its expected useful life of 3 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 2331,03931,039
At 31 January 2431,03931,039
Amortisation and impairment
At 01 February 2331,03931,039
At 31 January 2431,03931,039
Net book value
At 31 January 24--
At 31 January 23--
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 231,4941,6523,146
At 31 January 241,4941,6523,146
Depreciation and impairment
At 01 February 231,1221,2392,361
Charge for year372413785
At 31 January 241,4941,6523,146
Net book value
At 31 January 24---
At 31 January 23372413785
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,9003,300
Amounts owed by associates and joint ventures / participating interests2,0373,587
Other debtors123-
Prepayments and accrued income15,73218,783
Total24,79225,670
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables36247
Bank borrowings and overdrafts9,772-
Amounts owed to related parties179179
Taxation and social security-1,730
Accrued liabilities and deferred income990991
Total11,3032,947
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,91620,000
Total5,91620,000
8.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.