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Registration number: 09549090

Flybell Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Flybell Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Flybell Limited

Company Information

Director

Mr RW Angood

Registered office

G019 Albert Embankment
Albert Embankment
London
SE1 7SP

Accountants

F9 Consulting Ltd
Chartered Certified Accountants
First Floor
81 - 85 High Street
Brentwood
Essex
CM14 4RR

 

Flybell Limited

Director's Report for the Year Ended 30 April 2024

The director presents his report and the financial statements for the year ended 30 April 2024.

Director of the company

The director who held office during the year was as follows:

Mr RW Angood

Principal activity

The principal activity of the company is Other Information Service Activities Not

Small companies provision statement

This report has 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.

Approved and authorised by the director on 10 January 2025
 

.........................................
Mr RW Angood
Director

 

Flybell Limited

(Registration number: 09549090)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,778

2,540

Current assets

 

Debtors

5

226,954

220,814

Cash at bank and in hand

 

111,775

218,344

 

338,729

439,158

Creditors: Amounts falling due within one year

6

(110,420)

(168,290)

Net current assets

 

228,309

270,868

Total assets less current liabilities

 

242,087

273,408

Creditors: Amounts falling due after more than one year

6

(93,112)

(116,665)

Net assets

 

148,975

156,743

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

148,973

156,741

Shareholders' funds

 

148,975

156,743

For the financial year ending 30 April 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 10 January 2025
 

 

Flybell Limited

(Registration number: 09549090)
Balance Sheet as at 30 April 2024 (continued)

.........................................
Mr RW Angood
Director

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
G019 Albert Embankment
Albert Embankment
London
SE1 7SP

These financial statements were authorised for issue by the director on 10 January 2025.

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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current 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.

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:

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 debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 24 (2023 - 18).

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

4,479

1,800

6,279

Additions

15,176

1,200

-

16,376

Disposals

-

(730)

(1,800)

(2,530)

At 30 April 2024

15,176

4,949

-

20,125

Depreciation

At 1 May 2023

-

1,939

1,800

3,739

Charge for the year

3,794

1,345

-

5,139

Eliminated on disposal

-

(731)

(1,800)

(2,531)

At 30 April 2024

3,794

2,553

-

6,347

Carrying amount

At 30 April 2024

11,382

2,396

-

13,778

At 30 April 2023

-

2,540

-

2,540

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

64,446

57,108

Amounts owed by related parties

9

129,508

130,706

Other debtors

 

33,000

33,000

   

226,954

220,814

6

Creditors

Creditors: amounts falling due within one year

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors (continued)

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,152

10,000

Trade creditors

 

10,814

7,824

Taxation and social security

 

86,940

141,140

Accruals and deferred income

 

-

10,200

Other creditors

 

2,514

(874)

 

110,420

168,290

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

93,112

116,665

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,379

23,438

Other borrowings

78,733

93,227

93,112

116,665

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,152

10,000

9

Related party transactions

 

Flybell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

80,020

74,642