Registered number
01813341
Fireeagle Limited
Filleted Accounts
31 March 2024
Fireeagle Limited
Registered number: 01813341
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment properties 3 50,000 50,000
Current assets
Debtors 4 64 -
Cash at bank and in hand 6,032 7,540
6,096 7,540
Creditors: amounts falling due within one year 5 (17,754) (18,921)
Net current liabilities (11,658) (11,381)
Net assets 38,342 38,619
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 32,402 32,402
Profit and loss account 5,840 6,117
Shareholders' funds 38,342 38,619
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
0
Director
Approved by the board on 25 November 2024
Fireeagle Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment properties
Land and buildings
£
Cost
At 1 April 2023 50,000
At 31 March 2024 50,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 50,000
At 31 March 2023 50,000
4 Debtors 2024 2023
£ £
Other debtors 64 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 325
Directors loans 11,756 12,733
Other creditors 5,998 5,863
17,754 18,921
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 32,402 32,402
At 31 March 2024 32,402 32,402
7 Controlling party
The company is controlled by its directors and immediate family.
8 Other information
Fireeagle Limited is a private company limited by shares and incorporated in England. Its registered office is:
Tuthill House
Haswell
Co Durham
DH6 2AU
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