Floppy Disk Media Ltd
Registered number: 12944516
Statement of Financial Position
as at 31 October 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 2,977 3,507
Cash at bank and in hand 173 2,735
3,150 6,242
Creditors: amounts falling due within one year 4 (23,846) (25,619)
Net current liabilities (20,696) (19,377)
Net liabilities (20,696) (19,377)
Capital and reserves
Called up share capital 100 100
Profit and loss account (20,796) (19,477)
Shareholder's funds (20,696) (19,377)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Henson
Director
Approved by the board on 11 March 2025
Floppy Disk Media Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The director considers the company to be a going concern, notwithstanding that there are losses of £20,796. They have reviewed the potential future of the company and consider that it will continue to trade profitably for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 3
3 Debtors 2024 2023
£ £
Prepayments 2,250 2,250
Other debtors 727 1,257
2,977 3,507
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 3,517 6,050
Other taxes and social security costs 1,831 1,232
Other creditors 18,498 18,337
23,846 25,619
5 Other information
Floppy Disk Media Ltd is a private company limited by shares and incorporated in England. Its registered office is:
51 Church Street
Staines
Surrey
TW18 4EN
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