Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 March 2024 31 March 2024 04737931 Mr Robert Tolley Mrs Jemma Gibbons iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04737931 2023-05-31 04737931 2024-03-31 04737931 2023-06-01 2024-03-31 04737931 frs-core:CurrentFinancialInstruments 2024-03-31 04737931 frs-core:ComputerEquipment 2024-03-31 04737931 frs-core:ComputerEquipment 2023-06-01 2024-03-31 04737931 frs-core:ComputerEquipment 2023-05-31 04737931 frs-core:FurnitureFittings 2024-03-31 04737931 frs-core:FurnitureFittings 2023-06-01 2024-03-31 04737931 frs-core:FurnitureFittings 2023-05-31 04737931 frs-core:NetGoodwill 2024-03-31 04737931 frs-core:NetGoodwill 2023-06-01 2024-03-31 04737931 frs-core:NetGoodwill 2023-05-31 04737931 frs-core:MotorVehicles 2024-03-31 04737931 frs-core:MotorVehicles 2023-06-01 2024-03-31 04737931 frs-core:MotorVehicles 2023-05-31 04737931 frs-core:PlantMachinery 2023-06-01 2024-03-31 04737931 frs-core:ShareCapital 2024-03-31 04737931 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04737931 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 04737931 frs-bus:FilletedAccounts 2023-06-01 2024-03-31 04737931 frs-bus:SmallEntities 2023-06-01 2024-03-31 04737931 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-03-31 04737931 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-03-31 04737931 frs-bus:Director1 2023-06-01 2024-03-31 04737931 frs-bus:Director2 2023-06-01 2024-03-31 04737931 frs-bus:Director2 2023-05-31 04737931 frs-bus:Director2 2024-03-31 04737931 frs-countries:EnglandWales 2023-06-01 2024-03-31 04737931 2022-05-31 04737931 2023-05-31 04737931 2022-06-01 2023-05-31 04737931 frs-core:CurrentFinancialInstruments 2023-05-31 04737931 frs-core:ShareCapital 2023-05-31 04737931 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 04737931
Fluid Network Solutions Limited
Financial Statements
For the Period 1 June 2023 to 31 March 2024
Aspire Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04737931
31 March 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 344 4,378
344 4,378
CURRENT ASSETS
Debtors 6 72,864 29,579
Cash at bank and in hand 21,533 60,020
94,397 89,599
Creditors: Amounts Falling Due Within One Year 7 (57,809 ) (61,946 )
NET CURRENT ASSETS (LIABILITIES) 36,588 27,653
TOTAL ASSETS LESS CURRENT LIABILITIES 36,932 32,031
NET ASSETS 36,932 32,031
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 36,928 32,027
SHAREHOLDERS' FUNDS 36,932 32,031
Page 1
Page 2
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Jemma Gibbons
Director
05/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fluid Network Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04737931 . The registered office is 41 Moreton Crescent, Belle Vue, Shrewsbury, Shropshire, SY3 7BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25 % Straight Line
Motor Vehicles 25 % Straight Line
Fixtures & Fittings 25 % Straight Line
Computer Equipment 25 % Straight Line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 10,000
As at 31 March 2024 10,000
Amortisation
As at 1 June 2023 10,000
As at 31 March 2024 10,000
Net Book Value
As at 31 March 2024 -
As at 1 June 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 15,650 1,421 44,878 61,949
As at 31 March 2024 15,650 1,421 44,878 61,949
Depreciation
As at 1 June 2023 11,743 1,351 44,477 57,571
Provided during the period 3,916 17 101 4,034
As at 31 March 2024 15,659 1,368 44,578 61,605
Net Book Value
As at 31 March 2024 (9 ) 53 300 344
As at 1 June 2023 3,907 70 401 4,378
6. Debtors
31 March 2024 31 May 2023
£ £
Due within one year
Trade debtors 58,696 29,540
Directors' loan accounts 14,168 39
72,864 29,579
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 May 2023
£ £
Trade creditors 12,534 11,614
Bank loans and overdrafts 23,338 31,083
Corporation tax 9,602 12,432
Other taxes and social security 139 91
VAT 10,817 4,377
Accruals and deferred income 1,379 1,632
Directors' loan accounts - 717
57,809 61,946
8. Share Capital
31 March 2024 31 May 2023
£ £
Allotted, Called up and fully paid 4 4
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: £12,500 borrwed to purchase a car, will be repaid within 9 months.
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Robert Tolley - 12,500 - - 12,500
The above loan is unsecured, interest free and repayable on demand.
Page 5