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REGISTERED NUMBER: 08430519 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Flood the Floor Ltd

Flood the Floor Ltd (Registered number: 08430519)






Contents of the Financial Statements
for the Year Ended 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Flood the Floor Ltd (Registered number: 08430519)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 5 1,738 116
Cash at bank 28,115 33,303
29,853 33,419
CREDITORS
Amounts falling due within one year 6 (23,597 ) (24,594 )
NET CURRENT ASSETS 6,256 8,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,256

8,825

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 6,252 8,821
SHAREHOLDERS' FUNDS 6,256 8,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 4 September 2024 and were signed on its behalf by:





T J Nugent - Director


Flood the Floor Ltd (Registered number: 08430519)

Notes to the Financial Statements
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Flood The Floor Limited is a private company, limited by shares, registered in England and Wales, registration number 08430519. The registered office is Solar House, PF 915 High Road, North Finchley, London N12 8QJ.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured, reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:
Plant and machinery - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.


Flood the Floor Ltd (Registered number: 08430519)

Notes to the Financial Statements - continued
for the Year Ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 4,707
DEPRECIATION
At 1 April 2023
and 31 March 2024 4,707
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,622 -
Other debtors 116 116
1,738 116

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 450 -
Taxation and social security 6,172 4,149
Other creditors 16,975 20,445
23,597 24,594

Flood the Floor Ltd (Registered number: 08430519)

Notes to the Financial Statements - continued
for the Year Ended 31 MARCH 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J L Robinson
Balance outstanding at start of year 16 16
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16 16

J H B Drewe
Balance outstanding at start of year 16 16
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16 16

The above loans are interest free, repayable on demand and unsecured.