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Company No: 11556179 (England and Wales)

FLYWHEEL PARTNERS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

FLYWHEEL PARTNERS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

FLYWHEEL PARTNERS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
FLYWHEEL PARTNERS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 24,316 32,531
24,316 32,531
Current assets
Debtors 4 232,784 85,421
Cash at bank and in hand 345,899 490,358
578,683 575,779
Creditors: amounts falling due within one year 5 ( 420,521) ( 492,097)
Net current assets 158,162 83,682
Total assets less current liabilities 182,478 116,213
Net assets 182,478 116,213
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 182,477 116,212
Total shareholder's funds 182,478 116,213

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Flywheel Partners Limited (registered number: 11556179) were approved and authorised for issue by the Director. They were signed on its behalf by:

A Lobel
Director

27 January 2025

FLYWHEEL PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
FLYWHEEL PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Flywheel Partners Limited (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 35 Ballards Lane, London, N3 1XW, 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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

**Rendering of services**

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 Statement of Financial Position date.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Computer equipment 4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 May 2023 36,575 3,598 40,173
At 30 April 2024 36,575 3,598 40,173
Accumulated depreciation
At 01 May 2023 6,096 1,546 7,642
Charge for the financial year 7,315 900 8,215
At 30 April 2024 13,411 2,446 15,857
Net book value
At 30 April 2024 23,164 1,152 24,316
At 30 April 2023 30,479 2,052 32,531

4. Debtors

2024 2023
£ £
Trade debtors 181,863 75,225
Corporation tax 0 17
Other debtors 50,921 10,179
232,784 85,421

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 24,000 0
Amounts owed to group undertakings 214,160 398,160
Amounts owed to director 701 81,117
Accruals 2,534 3,213
Taxation and social security 179,126 9,607
420,521 492,097

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Included within other creditors is a balance of £701 (2023 – £81,117) owed to a company director. The balance is unsecured and interest free, with no fixed repayment terms.

8. Ultimate controlling party

The immediate and ultimate parent undertaking is Dunkirk Holdings Ltd and the ultimate controlling party is the director.