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REGISTERED NUMBER: 14713925 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

FOR

FLYLOGIX HOLDINGS LIMITED

FLYLOGIX HOLDINGS LIMITED (REGISTERED NUMBER: 14713925)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FLYLOGIX HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024







DIRECTORS: C A Tavner
R O Bowyer
Mr S P Nice
C M J Hancock
D P Robertson
D Thrussell





REGISTERED OFFICE: Unit 11
Merlin House
Meteor Way
Lee on Solent
Hampshire
PO13 9FU





REGISTERED NUMBER: 14713925 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

FLYLOGIX HOLDINGS LIMITED (REGISTERED NUMBER: 14713925)

BALANCE SHEET
31 DECEMBER 2024

2024 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 77,142 100,250

CURRENT ASSETS
Debtors 5 193,913 153,398
Cash at bank 258,503 234,564
452,416 387,962
CREDITORS
Amounts falling due within one year 6 197,648 45,766
NET CURRENT ASSETS 254,768 342,196
TOTAL ASSETS LESS CURRENT LIABILITIES 331,910 442,446

CAPITAL AND RESERVES
Called up share capital 17 17
Share premium 928,136 928,136
Retained earnings (596,243 ) (485,707 )
331,910 442,446

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:



C A Tavner - Director


FLYLOGIX HOLDINGS LIMITED (REGISTERED NUMBER: 14713925)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


1. STATUTORY INFORMATION

Flylogix Holdings 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 presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£).

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.

These accounts are for a short period from 1 April 2024 - 31 December 2024. The prior period was a long period from 7 March 2023 to 31 March 2024.

Turnover
Turnover represents invoiced sales of services, net of VAT where applicable, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are initially measured at cost.
At the balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss.If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


FLYLOGIX HOLDINGS LIMITED (REGISTERED NUMBER: 14713925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors have prepared the financial statements on the going concern basis despite there being events that cast material uncertainty around the future viability of the business.
The directors do however believe they have a reasonable expectation that the company has access to adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Pension commitments
The company operates a defined contribution pension scheme. At the balance sheet date the company had an outstanding pension contribution liability of £1,449 (31 March 2024: £1,295).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2024 - 10 ) .

FLYLOGIX HOLDINGS LIMITED (REGISTERED NUMBER: 14713925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2024 109,323
Additions 1,041
At 31 December 2024 110,364
DEPRECIATION
At 1 April 2024 9,073
Charge for period 24,149
At 31 December 2024 33,222
NET BOOK VALUE
At 31 December 2024 77,142
At 31 March 2024 100,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£ £
Trade debtors 83,271 6,069
Other debtors 110,642 147,329
193,913 153,398

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£ £
Trade creditors 20,867 563
Taxation and social security 19,096 16,207
Other creditors 157,685 28,996
197,648 45,766

7. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £11,094 (as at 1 April 2024: £47,616).