0 false false true false false false false false false false true false false true false true true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,990 5,093 684 683 1 1 xbrli:pure xbrli:shares iso4217:GBP 03375384 2023-09-01 2024-08-31 03375384 2024-08-31 03375384 2023-08-31 03375384 2022-09-01 2023-08-31 03375384 2023-08-31 03375384 2022-08-31 03375384 bus:RegisteredOffice 2023-09-01 2024-08-31 03375384 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 03375384 bus:Director1 2023-09-01 2024-08-31 03375384 bus:Director2 2023-09-01 2024-08-31 03375384 core:WithinOneYear 2024-08-31 03375384 core:WithinOneYear 2023-08-31 03375384 core:AfterOneYear 2024-08-31 03375384 core:AfterOneYear 2023-08-31 03375384 core:RetainedEarningsAccumulatedLosses 2023-08-31 03375384 core:RetainedEarningsAccumulatedLosses 2022-08-31 03375384 core:RetainedEarningsAccumulatedLosses 2024-08-31 03375384 core:RetainedEarningsAccumulatedLosses 2023-08-31 03375384 core:ShareCapital 2024-08-31 03375384 core:ShareCapital 2023-08-31 03375384 bus:SmallEntities 2023-09-01 2024-08-31 03375384 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 03375384 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03375384 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03375384 bus:FullAccounts 2023-09-01 2024-08-31 03375384 bus:OrdinaryShareClass1 2024-08-31 03375384 bus:OrdinaryShareClass1 2023-08-31 03375384 core:ComputerEquipment 2024-08-31 03375384 core:ComputerEquipment 2023-08-31 03375384 1 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 03375384
FLATAGENT LIMITED
Unaudited Financial Statements
31 August 2024
FLATAGENT LIMITED
Financial Statements
Year ended 31 August 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
FLATAGENT LIMITED
Directors' Report
Year ended 31 August 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2024 .
Directors
The directors who served the company during the year were as follows:
J Johnston
M Mansfield
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 12 February 2025 and signed on behalf of the board by:
J Johnston
M Mansfield
Director
Director
Registered office:
First Floor, 736 High Road
North Finchley
London
N12 9QD
FLATAGENT LIMITED
Statement of Income and Retained Earnings
Year ended 31 August 2024
2024
2023
Note
£
£
Turnover
21,000
19,250
Cost of sales
11,046
10,301
--------
--------
Gross profit
9,954
8,949
Administrative expenses
7,808
3,679
-------
-------
Operating profit
2,146
5,270
Interest payable and similar expenses
4
156
177
-------
-------
Profit before taxation
1,990
5,093
Tax on profit
-------
-------
Profit for the financial year and total comprehensive income
1,990
5,093
-------
-------
Retained earnings at the start of the year
199,284
194,191
---------
---------
Retained earnings at the end of the year
201,274
199,284
---------
---------
All the activities of the company are from continuing operations.
FLATAGENT LIMITED
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1
1
Current assets
Stocks
252,721
252,721
Cash at bank and in hand
24,154
20,902
---------
---------
276,875
273,623
Creditors: amounts falling due within one year
6
75,161
73,162
---------
---------
Net current assets
201,714
200,461
---------
---------
Total assets less current liabilities
201,715
200,462
Creditors: amounts falling due after more than one year
7
341
1,078
---------
---------
Net assets
201,374
199,384
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
9
201,274
199,284
---------
---------
Shareholders funds
201,374
199,384
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FLATAGENT LIMITED
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
J Johnston
M Mansfield
Director
Director
Company registration number: 03375384
FLATAGENT LIMITED
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, 736 High Road, North Finchley, London, N12 9QD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks and work in progress developments are stated at the lower of cost and net realisable value. Cost consists of direct cost including applicable interest and the applicable portion of overheads. Net realisable value represents the Directors' estimate of the net proceeds receivable from developing the sites after taking account of market conditions.
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Interest payable and similar expenses
2024
2023
£
£
Interest on banks loans and overdrafts
156
177
----
----
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
684
684
----
----
Depreciation
At 1 September 2023 and 31 August 2024
683
683
----
----
Carrying amount
At 31 August 2024
1
1
----
----
At 31 August 2023
1
1
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
871
849
Accruals and deferred income
793
722
Director loan accounts
73,497
71,591
--------
--------
75,161
73,162
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
341
1,078
----
-------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Reserves
Profit and loss account - this reserve records retained earnings and accumulated losses.
10. Directors' advances, credits and guarantees
Directors loan account balance has been shown within note 6.
11. Controlling party
The company was under the control of Mr M Mansfield and Mr J Johnston throughout the year.