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Registration number: 07398062

This Fluid World Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

This Fluid World Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

This Fluid World Ltd

Company Information

Director

Ms L Andersson

Registered office

Flat 350
Building 22
Cadogan Road
London
SE18 6YR

 

This Fluid World Ltd

(Registration number: 07398062)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

221,309

218,745

Current assets

 

Debtors

5

3,470

77,844

Cash at bank and in hand

 

128,737

40,714

 

132,207

118,558

Creditors: Amounts falling due within one year

6

(23,796)

(5,281)

Net current assets

 

108,411

113,277

Total assets less current liabilities

 

329,720

332,022

Provisions for liabilities

(1,147)

-

Net assets

 

328,573

332,022

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

(2,682)

-

Retained earnings

331,254

332,021

Shareholders' funds

 

328,573

332,022

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 April 2024
 

 

This Fluid World Ltd

(Registration number: 07398062)
Balance Sheet as at 31 March 2024

.........................................
Ms L Andersson
Director

 

This Fluid World Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 350
Building 22
Cadogan Road
London
SE18 6YR

These financial statements were authorised for issue by the director on 25 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services and rent receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.


The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

This Fluid World Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

33% reducing balance

Motor Vehicles

33% straight line

Office Equipment

33% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by either an external valuer or the director. In determining the value, observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset are used. Changes in fair value are recognised in profit or loss.

 

This Fluid World Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

This Fluid World Ltd

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

4

Tangible assets

Land and buildings
£

Office Equipment
 £

Motor vehicles
 £

Computer Equipment
£

Total
£

Cost or valuation

At 1 April 2023

210,210

243

1,595

13,686

225,734

Revaluations

(3,311)

-

-

-

(3,311)

Additions

8,371

-

-

1,509

9,880

Disposals

-

-

-

(1,728)

(1,728)

At 31 March 2024

215,270

243

1,595

13,467

230,575

Depreciation

At 1 April 2023

-

104

1,455

5,430

6,989

Charge for the year

-

46

140

2,462

2,648

Eliminated on disposal

-

-

-

(371)

(371)

At 31 March 2024

-

150

1,595

7,521

9,266

Carrying amount

At 31 March 2024

215,270

93

-

5,946

221,309

At 31 March 2023

210,210

139

140

8,256

218,745

Included within the net book value of land and buildings above is £215,270 (2023 - £210,210) in respect of overseas investment property.

There has been no valuation of investment property by an independent valuer. The Director has considered the market value of the property and consider the current value is representative of the market value of the investment property at the balance sheet date.

 

This Fluid World Ltd

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,800

-

Prepayments

-

1,994

Other debtors

1,670

75,850

 

3,470

77,844

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

123

57

Taxation and social security

20,165

5,024

Accruals and deferred income

1,200

200

Other creditors

2,308

-

23,796

5,281

 

This Fluid World Ltd

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(2,682)

(2,682)

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £41,100.00 (2023 - £40,750.00) per each Ordinary share

41,100

40,750

 

 

10

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Ms L Andersson

Directors loan account

75,133

11,129

(88,570)

(2,308)

 

This Fluid World Ltd

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

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Ms L Andersson

Directors loan account

(8,569)

143,371

(59,669)

75,133

This loan is provided interest free and is repayable on demand.

11

Ultimate controlling party

The ultimate controlling party is Mrs L Andersson, by virtue of her shareholding.