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REGISTERED NUMBER: 03304173 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FLAGSHIP COMPUTING LIMITED

FLAGSHIP COMPUTING LIMITED (REGISTERED NUMBER: 03304173)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FLAGSHIP COMPUTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: C P Steen
C M Choe





SECRETARY: A M Steen





REGISTERED OFFICE: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 03304173 (England and Wales)





ACCOUNTANTS: Galloways Accounting
15 West Street
Brighton
East Sussex
BN1 2RL

FLAGSHIP COMPUTING LIMITED (REGISTERED NUMBER: 03304173)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 30,271 3,059

CURRENT ASSETS
Debtors 5 46,203 91,378
Cash at bank 7,569 55,171
53,772 146,549
CREDITORS
Amounts falling due within one year 6 (23,553 ) (38,765 )
NET CURRENT ASSETS 30,219 107,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,490

110,843

PROVISIONS FOR LIABILITIES 7 (6,599 ) (581 )
NET ASSETS 53,891 110,262

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 2 2
Retained earnings 53,887 110,258
SHAREHOLDERS' FUNDS 53,891 110,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





C P Steen - Director


FLAGSHIP COMPUTING LIMITED (REGISTERED NUMBER: 03304173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Flagship Computing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents revenue recognised in the accounts excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

FLAGSHIP COMPUTING LIMITED (REGISTERED NUMBER: 03304173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 - 1,189 1,447 9,159 11,795
Additions 30,941 - - 1,315 32,256
Disposals - - - (2,057 ) (2,057 )
At 31 May 2024 30,941 1,189 1,447 8,417 41,994
DEPRECIATION
At 1 June 2023 - 297 1,018 7,421 8,736
Charge for year 3,094 298 362 1,290 5,044
Eliminated on disposal - - - (2,057 ) (2,057 )
At 31 May 2024 3,094 595 1,380 6,654 11,723
NET BOOK VALUE
At 31 May 2024 27,847 594 67 1,763 30,271
At 31 May 2023 - 892 429 1,738 3,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,339 19,198
Other debtors 13,864 72,180
46,203 91,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 22,493 37,484
Other creditors 1,060 1,281
23,553 38,765

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,599 581

Deferred
tax
£   
Balance at 1 June 2023 581
Movement in year 6,018
Balance at 31 May 2024 6,599

FLAGSHIP COMPUTING LIMITED (REGISTERED NUMBER: 03304173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
C P Steen
Balance outstanding at start of year 45,581 31,518
Amounts advanced 15,063 118,126
Amounts repaid (58,384 ) (104,063 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,260 45,581

9. ULTIMATE CONTROLLING PARTY

During the year the company was under the control of C Steen, a director and sole shareholder of the company.