Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3032023-05-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14426298 2023-05-01 2024-04-30 14426298 2022-10-18 2023-04-30 14426298 2024-04-30 14426298 2023-04-30 14426298 c:Director1 2023-05-01 2024-04-30 14426298 c:Director2 2023-05-01 2024-04-30 14426298 d:FreeholdInvestmentProperty 2024-04-30 14426298 d:FreeholdInvestmentProperty 2023-04-30 14426298 d:CurrentFinancialInstruments 2024-04-30 14426298 d:CurrentFinancialInstruments 2023-04-30 14426298 d:Non-currentFinancialInstruments 2024-04-30 14426298 d:Non-currentFinancialInstruments 2023-04-30 14426298 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 14426298 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14426298 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 14426298 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 14426298 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 14426298 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 14426298 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 14426298 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 14426298 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 14426298 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 14426298 d:ShareCapital 2024-04-30 14426298 d:ShareCapital 2023-04-30 14426298 d:RetainedEarningsAccumulatedLosses 2024-04-30 14426298 d:RetainedEarningsAccumulatedLosses 2023-04-30 14426298 c:FRS102 2023-05-01 2024-04-30 14426298 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 14426298 c:FullAccounts 2023-05-01 2024-04-30 14426298 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14426298 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 14426298










FLOTEL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
FLOTEL LIMITED
REGISTERED NUMBER: 14426298

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
1,163,553
1,163,553

  
1,163,553
1,163,553

Current assets
  

Debtors: amounts falling due after more than one year
 5 
-
7,737

Debtors: amounts falling due within one year
 5 
8,087
268

Bank and cash balances
  
76,793
103,998

  
84,880
112,003

Creditors: amounts falling due within one year
 6 
(342,294)
(381,657)

Net current liabilities
  
 
 
(257,414)
 
 
(269,654)

Total assets less current liabilities
  
906,139
893,899

Creditors: amounts falling due after more than one year
  
(777,114)
(773,695)

  

Net assets
  
129,025
120,204


Capital and reserves
  

Called up share capital 
  
116,028
116,028

Profit and loss account
  
12,997
4,176

  
129,025
120,204


Page 1

 
FLOTEL LIMITED
REGISTERED NUMBER: 14426298
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Benjamin Kevin James Goode
Mr David Bryan Andrews
Director
Director


Date: 12 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FLOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Flotel Limited is a private company limited by shares and incorporated in England and Wales, registration number 14426298. The registered office is The Old Drill Hall, 23A Cattle Market Street, Norwich, Norfolk, NR1 3DY. The company was incorporated on 18 October 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the financial currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Going concern

The Directors have considered the Company’s position at the time of signing the financial statements. They have considered future trading expectations, the current financial position of the Company and other factors such as mitigating ongoing costs.
Based on this, the Directors have concluded that the company will have adequate resources to continue in operational existence for at least twelve months from the date of signing these financial statements and will therefore adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 3

 
FLOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 4

 
FLOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
1,163,553



At 30 April 2024
1,163,553

The 2024 valuations were made by the Director's, on an open market value for existing use basis.








5.


Debtors

2024
2023
£
£

Due after more than one year

Prepayments and accrued income
-
7,737

-
7,737


2024
2023
£
£

Due within one year

Prepayments and accrued income
8,087
268

8,087
268


Page 5

 
FLOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
26,797
26,833

Trade creditors
-
90

Corporation tax
2,159
1,090

Other creditors
246,555
286,555

Accruals and deferred income
66,783
67,089

342,294
381,657



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
777,114
773,695

777,114
773,695


Page 6

 
FLOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
26,797
26,833


26,797
26,833

Amounts falling due 1-2 years

Bank loans
26,797
26,833


26,797
26,833

Amounts falling due 2-5 years

Bank loans
80,391
80,500


80,391
80,500

Amounts falling due after more than 5 years

Bank loans
669,926
666,362

669,926
666,362

803,911
800,528


 
Page 7