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REGISTERED NUMBER: 09714576 (England and Wales)















FLYING TECH LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024






FLYING TECH LIMITED (REGISTERED NUMBER: 09714576)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


FLYING TECH LIMITED (REGISTERED NUMBER: 09714576)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 4,500
Tangible assets 5 1,080 1,762
5,080 6,262

CURRENT ASSETS
Stocks 142,345 152,668
Debtors 6 4,389 12,955
Cash at bank and in hand 251,561 242,420
398,295 408,043
CREDITORS
Amounts falling due within one year 7 83,941 144,799
NET CURRENT ASSETS 314,354 263,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

319,434

269,506

PROVISIONS FOR LIABILITIES 270 441
NET ASSETS 319,164 269,065

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 319,064 268,965
319,164 269,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

FLYING TECH LIMITED (REGISTERED NUMBER: 09714576)

BALANCE SHEET - continued
31 AUGUST 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by:





W I Nicholls - Director


FLYING TECH LIMITED (REGISTERED NUMBER: 09714576)

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

1. STATUTORY INFORMATION

Flying Tech Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09714576

Registered office: Open Space
Upper Interfields
Malvern
WR14 1UT

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Computer equipment - 3 years straight line.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


FLYING TECH LIMITED (REGISTERED NUMBER: 09714576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 5,000
AMORTISATION
At 1 September 2023 500
Amortisation for year 500
At 31 August 2024 1,000
NET BOOK VALUE
At 31 August 2024 4,000
At 31 August 2023 4,500

FLYING TECH LIMITED (REGISTERED NUMBER: 09714576)

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

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2023 11,223
Additions 1,000
At 31 August 2024 12,223
DEPRECIATION
At 1 September 2023 9,461
Charge for year 1,682
At 31 August 2024 11,143
NET BOOK VALUE
At 31 August 2024 1,080
At 31 August 2023 1,762

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 454 11,980
Other debtors 3,935 975
4,389 12,955

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 48
Trade creditors 6,577 3,863
Taxation and social security 41,596 40,447
Other creditors 35,768 100,441
83,941 144,799