4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,800 3,360 480 3,840 960 1,440 xbrli:pure xbrli:shares iso4217:GBP 04339386 2023-03-01 2024-02-29 04339386 2024-02-29 04339386 2023-02-28 04339386 2022-03-01 2023-02-28 04339386 2023-02-28 04339386 2022-02-28 04339386 core:FurnitureFittings 2023-03-01 2024-02-29 04339386 core:MotorVehicles 2023-03-01 2024-02-29 04339386 bus:Director1 2023-03-01 2024-02-29 04339386 bus:Director2 2023-03-01 2024-02-29 04339386 core:FurnitureFittings 2023-02-28 04339386 core:MotorVehicles 2023-02-28 04339386 core:FurnitureFittings 2024-02-29 04339386 core:MotorVehicles 2024-02-29 04339386 core:WithinOneYear 2024-02-29 04339386 core:WithinOneYear 2023-02-28 04339386 core:AfterOneYear 2024-02-29 04339386 core:AfterOneYear 2023-02-28 04339386 core:ShareCapital 2024-02-29 04339386 core:ShareCapital 2023-02-28 04339386 core:RetainedEarningsAccumulatedLosses 2024-02-29 04339386 core:RetainedEarningsAccumulatedLosses 2023-02-28 04339386 core:FurnitureFittings 2023-02-28 04339386 core:MotorVehicles 2023-02-28 04339386 bus:Director1 2024-02-29 04339386 bus:Director2 2023-02-28 04339386 bus:Director2 2022-02-28 04339386 bus:Director2 2023-02-28 04339386 bus:SmallEntities 2023-03-01 2024-02-29 04339386 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04339386 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04339386 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04339386 bus:FullAccounts 2023-03-01 2024-02-29 04339386 core:ComputerSoftware 2023-03-01 2024-02-29 04339386 core:OfficeEquipment 2023-03-01 2024-02-29 04339386 core:ComputerSoftware 2024-02-29 04339386 core:ComputerSoftware 2023-02-28 04339386 core:OfficeEquipment 2023-02-28 04339386 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 04339386
Flicx UK Limited
Filleted Unaudited Financial Statements
29 February 2024
Flicx UK Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
960
1,440
Tangible assets
6
50,948
46,608
--------
--------
51,908
48,048
Current assets
Stocks
63,344
163,706
Debtors
7
76,594
72,556
Cash at bank and in hand
87,142
78,438
---------
---------
227,080
314,700
Creditors: amounts falling due within one year
8
85,684
113,942
---------
---------
Net current assets
141,396
200,758
---------
---------
Total assets less current liabilities
193,304
248,806
Creditors: amounts falling due after more than one year
9
23,696
38,894
---------
---------
Net assets
169,608
209,912
---------
---------
Capital and reserves
Called up share capital
667
667
Profit and loss account
168,941
209,245
---------
---------
Shareholders funds
169,608
209,912
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Flicx UK Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr G Luke
Director
Company registration number: 04339386
Flicx UK Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Walltree House Farm, Steane, Brackley, Northamptonshire, NN13 5NS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).
5. Intangible assets
Intangible asset user defined 1
£
Cost
At 1 March 2023 and 29 February 2024
4,800
-------
Amortisation
At 1 March 2023
3,360
Charge for the year
480
-------
At 29 February 2024
3,840
-------
Carrying amount
At 29 February 2024
960
-------
At 28 February 2023
1,440
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
11,352
70,870
47,304
129,526
Additions
14,395
14,395
--------
--------
--------
---------
At 29 February 2024
11,352
85,265
47,304
143,921
--------
--------
--------
---------
Depreciation
At 1 March 2023
9,257
32,801
40,860
82,918
Charge for the year
314
7,614
2,127
10,055
--------
--------
--------
---------
At 29 February 2024
9,571
40,415
42,987
92,973
--------
--------
--------
---------
Carrying amount
At 29 February 2024
1,781
44,850
4,317
50,948
--------
--------
--------
---------
At 28 February 2023
2,095
38,069
6,444
46,608
--------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
25,514
62,228
Amounts owed by group undertakings and undertakings in which the company has a participating interest
32,320
Other debtors
18,760
10,328
--------
--------
76,594
72,556
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,750
11,583
Trade creditors
47,368
28,870
Corporation tax
7,512
13,626
Social security and other taxes
2,328
30,704
Other creditors
14,726
29,159
--------
---------
85,684
113,942
--------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,806
24,559
Other creditors
8,890
14,335
--------
--------
23,696
38,894
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Luke
51
51
Mr R Beghin
217
38,104
( 38,321)
----
--------
--------
----
217
38,155
( 38,321)
51
----
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Luke
Mr R Beghin
217
217
----
----
----
----
217
217
----
----
----
----