Registered number
05370048
Flippers & Fins Club Ltd
Filleted Accounts
29 February 2024
Flippers & Fins Club Ltd
Registered number: 05370048
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,810 327
Current assets
Debtors 4 4,400 -
Cash at bank and in hand 20,491 33,362
24,891 33,362
Creditors: amounts falling due within one year 5 268 (201)
Net current assets 25,159 33,161
Total assets less current liabilities 35,969 33,488
Creditors: amounts falling due after more than one year 6 (20,906) (18,390)
Net assets 15,063 15,098
Capital and reserves
Called up share capital 2 2
Profit and loss account 15,061 15,096
Shareholder's funds 15,063 15,098
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 and delivered 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.
Miss A L Villa
Director
Approved by the board on 15 April 2025
Flippers & Fins Club Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance and straight line
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 - 2,315 2,315
Additions 10,142 564 10,706
At 29 February 2024 10,142 2,879 13,021
Depreciation
At 1 March 2023 - 1,988 1,988
Charge for the year - 223 223
At 29 February 2024 - 2,211 2,211
Net book value
At 29 February 2024 10,142 668 10,810
At 28 February 2023 - 327 327
4 Debtors 2024 2023
£ £
Other debtors 4,400 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax (268) 201
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 20,906 18,390
7 Other information
Flippers & Fins Club Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Manor Gardens
Hurstpierpoint
West Sussex
BN6 9UG
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