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REGISTERED NUMBER: 06020996 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Flood Studio Ltd

Flood Studio Ltd (Registered number: 06020996)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Flood Studio Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr N D Burgess
Mr P Whittle





SECRETARY: Mr N D Burgess





REGISTERED OFFICE: Unit 101, The Courtyard
India Mill
Bolton Road
Darwen
Lancashire
BB3 1AE





REGISTERED NUMBER: 06020996 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
BTC House
Chapel Hill
Longridge
Preston
Lancashire
PR3 3JY

Flood Studio Ltd (Registered number: 06020996)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,983 2,561
Investments 5 60,000 -
82,983 2,561

CURRENT ASSETS
Debtors 6 43,958 39,003
Cash at bank and in hand 170,626 274,662
214,584 313,665
CREDITORS
Amounts falling due within one year 7 69,728 55,205
NET CURRENT ASSETS 144,856 258,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,839

261,021

PROVISIONS FOR LIABILITIES 447 447
NET ASSETS 227,392 260,574

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 227,384 260,566
SHAREHOLDERS' FUNDS 227,392 260,574

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.

Flood Studio Ltd (Registered number: 06020996)

Balance Sheet - 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 9 September 2024 and were signed on its behalf by:





Mr N D Burgess - Director


Flood Studio Ltd (Registered number: 06020996)

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


1. STATUTORY INFORMATION

Flood Studio 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 - going concern
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.

Covid-19

On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic.

The accounts have been prepared on a going concern basis as although there are indicators of financial impact in relation to COVID-19 the directors have taken what are considered all necessary measures to protect the business from this to limit any adverse impact.



The Directors anticipate the company continuing to trade for the foreseeable future and are monitoring the situation.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 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.


Flood Studio Ltd (Registered number: 06020996)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 106,490
Additions 34,076
At 31 December 2023 140,566
DEPRECIATION
At 1 January 2023 103,929
Charge for year 13,654
At 31 December 2023 117,583
NET BOOK VALUE
At 31 December 2023 22,983
At 31 December 2022 2,561

Flood Studio Ltd (Registered number: 06020996)

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


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 60,000
At 31 December 2023 60,000
NET BOOK VALUE
At 31 December 2023 60,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 37,224 32,228
Other debtors 6,734 6,775
43,958 39,003

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 3,383 -
Taxation and social security 38,012 47,639
Other creditors 28,333 7,566
69,728 55,205

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year - 25,046