Silverfin false false 31/07/2024 01/08/2023 31/07/2024 K Bath 06/06/2012 22 January 2025 The principal activity of the Company during the financial year was commercial and domestic software development. 08093846 2024-07-31 08093846 bus:Director1 2024-07-31 08093846 2023-07-31 08093846 core:CurrentFinancialInstruments 2024-07-31 08093846 core:CurrentFinancialInstruments 2023-07-31 08093846 core:Non-currentFinancialInstruments 2024-07-31 08093846 core:Non-currentFinancialInstruments 2023-07-31 08093846 core:ShareCapital 2024-07-31 08093846 core:ShareCapital 2023-07-31 08093846 core:RetainedEarningsAccumulatedLosses 2024-07-31 08093846 core:RetainedEarningsAccumulatedLosses 2023-07-31 08093846 core:LandBuildings 2023-07-31 08093846 core:OtherPropertyPlantEquipment 2023-07-31 08093846 core:LandBuildings 2024-07-31 08093846 core:OtherPropertyPlantEquipment 2024-07-31 08093846 2023-08-01 2024-07-31 08093846 bus:FilletedAccounts 2023-08-01 2024-07-31 08093846 bus:SmallEntities 2023-08-01 2024-07-31 08093846 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08093846 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08093846 bus:Director1 2023-08-01 2024-07-31 08093846 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 08093846 2022-08-01 2023-07-31 08093846 core:LandBuildings 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 08093846 (England and Wales)

FLOWMOCO LTD

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

FLOWMOCO LTD

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

FLOWMOCO LTD

BALANCE SHEET

As at 31 July 2024
FLOWMOCO LTD

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 55,420 54,827
55,420 54,827
Current assets
Debtors 4 308,275 434,836
Cash at bank and in hand 295,828 24,040
604,103 458,876
Creditors: amounts falling due within one year 5 ( 187,080) ( 320,501)
Net current assets 417,023 138,375
Total assets less current liabilities 472,443 193,202
Creditors: amounts falling due after more than one year 6 ( 8,354) ( 18,368)
Provision for liabilities ( 10,279) ( 10,182)
Net assets 453,810 164,652
Capital and reserves
Called-up share capital 1 1
Profit and loss account 453,809 164,651
Total shareholders' funds 453,810 164,652

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Flowmoco LTD (registered number: 08093846) were approved and authorised for issue by the Director on 22 January 2025. They were signed on its behalf by:

K Bath
Director
FLOWMOCO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
FLOWMOCO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Flowmoco LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Trevena House, 11 Trevena Terrace, Newquay, TR7 1LJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 20 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Government grants

Revenue grants have been received in the year and have been written off to the profit and loss account.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 22 21

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2023 15,178 110,665 125,843
Additions 1,567 13,159 14,726
At 31 July 2024 16,745 123,824 140,569
Accumulated depreciation
At 01 August 2023 0 71,016 71,016
Charge for the financial year 0 14,133 14,133
At 31 July 2024 0 85,149 85,149
Net book value
At 31 July 2024 16,745 38,675 55,420
At 31 July 2023 15,178 39,649 54,827

4. Debtors

2024 2023
£ £
Trade debtors 175,302 218,140
Corporation tax 0 124,921
Other debtors 132,973 91,775
308,275 434,836

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 20,198 87,940
Trade creditors 27,513 24,847
Taxation and social security 129,902 116,220
Other creditors 9,467 91,494
187,080 320,501

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 8,354 18,368

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Mr K Bath (Director and shareholder) - Interest free loan 72,032 46,808

During the year, Mr K Bath introduced funds amounting to £28,126 (2023 £57,292) and withdrew funds totalling £53,350 (2023 £21,429).