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REGISTERED NUMBER: 07234132 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Flapjack Octopus Ltd

Flapjack Octopus Ltd (Registered number: 07234132)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Flapjack Octopus Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr N Renfrew
Mr A Renfrew





REGISTERED OFFICE: Clere House
West Street
Newbury
Hapshire
RG20 9LB





REGISTERED NUMBER: 07234132 (England and Wales)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Flapjack Octopus Ltd (Registered number: 07234132)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,193 35,590

CURRENT ASSETS
Stocks 18,283 17,326
Debtors 5 36,453 23,537
Cash at bank and in hand 1,724 6,656
56,460 47,519
CREDITORS
Amounts falling due within one year 6 300,685 249,492
NET CURRENT LIABILITIES (244,225 ) (201,973 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(221,032

)

(166,383

)

PROVISIONS FOR LIABILITIES 5,798 8,657
NET LIABILITIES (226,830 ) (175,040 )

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings (227,430 ) (175,640 )
SHAREHOLDERS' FUNDS (226,830 ) (175,040 )

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.

Flapjack Octopus Ltd (Registered number: 07234132)

Statement of Financial Position - continued
31 March 2024


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 11 September 2024 and were signed on its behalf by:




Mr N Renfrew - Director



Mr A Renfrew - Director


Flapjack Octopus Ltd (Registered number: 07234132)

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

1. STATUTORY INFORMATION

Flapjack Octopus 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
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.

Going Concern

At the balance sheet date the Company's liabilities exceed its assets. The Company meets its day to day working capital requirements from daily takings and loans from the Director. The financial statements were prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future.The Directors believe that the financial statements should be prepared on a going concern basis

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.
Short leasehold - 20% on cost
Improvements to property - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipments - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Flapjack Octopus Ltd (Registered number: 07234132)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023 14,210 54,860 8,173
Additions - - -
At 31 March 2024 14,210 54,860 8,173
DEPRECIATION
At 1 April 2023 14,210 25,230 6,813
Charge for year - 10,386 720
At 31 March 2024 14,210 35,616 7,533
NET BOOK VALUE
At 31 March 2024 - 19,244 640
At 31 March 2023 - 29,630 1,360

Fixtures
and Computer
fittings equipments Totals
£    £    £   
COST
At 1 April 2023 23,743 6,122 107,108
Additions 968 - 968
At 31 March 2024 24,711 6,122 108,076
DEPRECIATION
At 1 April 2023 20,207 5,058 71,518
Charge for year 1,621 638 13,365
At 31 March 2024 21,828 5,696 84,883
NET BOOK VALUE
At 31 March 2024 2,883 426 23,193
At 31 March 2023 3,536 1,064 35,590

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 17,290 3,638
Security Deposit 10,000 10,000
Called up share capital not paid 600 600
Prepayments and accrued income 8,563 9,299
36,453 23,537

Flapjack Octopus Ltd (Registered number: 07234132)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 11,655 10,920
Social security and other taxes 4,498 6,119
VAT 12,984 9,820
Other creditors 11,778 10,621
Pension fund 905 1,143
Provision for Dilapidations 8,093 8,093
Directors' current accounts 249,356 202,357
Accrued expenses 1,416 419
300,685 249,492

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 45,955 45,955
Between one and five years 27,618 26,807
73,573 72,762

8. RELATED PARTY DISCLOSURES

Creditors falling due within one year as at 31st March 2024 includes a balance due to Athenian IT Services Ltd, a company in which N Renfrew is materially interested as a director and shareholder.The balance due to this Company is £10,370. (2023 - £10,370).