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FLAGSTONE INVESTMENTS LTD

Registered Number
13190625
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

FLAGSTONE INVESTMENTS LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

FAIRBURN, Daniel
POOLEY, Dean

Registered Address

73 Cornhill
London
EC3V 3QQ

Registered Number

13190625 (England and Wales)
FLAGSTONE INVESTMENTS LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors1,573,79046,802
Cash at bank and on hand34,95417,592
1,608,74464,394
Creditors amounts falling due within one year(48,693)(2,772)
Net current assets (liabilities)1,560,05161,622
Total assets less current liabilities1,560,05161,622
Creditors amounts falling due after one year(1,604,295)(90,483)
Net assets(44,244)(28,861)
Capital and reserves
Called up share capital200200
Profit and loss account(44,444)(29,061)
Shareholders' funds(44,244)(28,861)
The financial statements were approved and authorised for issue by the Board of Directors on 2 January 2025, and are signed on its behalf by:
FAIRBURN, Daniel
Director
POOLEY, Dean
Director

Registered Company No. 13190625
FLAGSTONE INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year20
3.Related party transactions
In other creditors there are balances between related parties as broken down below: Directors loan balance of £540 (2023 £1712). Loans (Unsecured) from related parties of £1,604,295,