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Registration number: 03885496

Fluid Vision Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Fluid Vision Systems Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Fluid Vision Systems Limited

Company Information

Director

Mr A K Little

Company secretary

Miss C A Cope

Registered office

15 Oxford Street
Southampton
Hampshire
SO14 3DJ

Accountants

Accountants for Business Development and Solutions
Chartered Certified Accountants
15 Oxford Street
Southampton
Hampshire
SO14 3DJ

 

Fluid Vision Systems Limited

(Registration number: 03885496)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

295

389

Creditors: Amounts falling due within one year

5

(480)

(480)

Total assets less current liabilities

 

(185)

(91)

Creditors: Amounts falling due after more than one year

5

(8,344)

(7,733)

Net liabilities

 

(8,529)

(7,824)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(8,530)

(7,825)

Shareholders' deficit

 

(8,529)

(7,824)

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 his 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 October 2024
 

.........................................
Mr A K Little
Director

 

Fluid Vision Systems Limited

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.

The address of its registered office is:
15 Oxford Street
Southampton
Hampshire
SO14 3DJ

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

Going concern

The director is aware of the negative balance sheet as on the 31st March 2024 but has decided to adopt the going concern basis of accounting as the company will continue to be supported by the director to meet its obligations as and when they fall due for a period of at least 12 months from the date of signing of these accounts. The director does not intend to withdraw the balance in his current account in this period.

Depreciation

Asset class

Depreciation method and rate

Equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Fluid Vision Systems Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

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

4

Debtors

Current

2024
£

2023
£

 

-

-

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

480

480

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

8,344

7,733

 

Fluid Vision Systems Limited

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

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

8,344

7,733

8

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr A K Little

(7,733)

(611)

(8,344)

2023

At 1 April 2022
£

Repayments by director
£

Other payments made to company by director
£

At 31 March 2023
£

Mr A K Little

(6,970)

(750)

(13)

(7,733)

9

Controlling party

The ultimate controlling party is that of the director, Mr A K Little..