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Registration number: 12819531

Flat11 Ltd

Unaudited Filleted Financial Statements

for the Period from 1 September 2023 to 31 December 2024

 

Flat11 Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Flat11 Ltd

(Registration number: 12819531)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

541

Current assets

 

Debtors

5

49,803

43,920

Cash at bank and in hand

 

11,913

5,150

 

61,716

49,070

Creditors: Amounts falling due within one year

6

(20,999)

(12,059)

Net current assets

 

40,717

37,011

Net assets

 

40,717

37,552

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

40,716

37,551

Shareholders' funds

 

40,717

37,552

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 14 May 2025
 


M Arrivets
Director

 

Flat11 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Flat 11 12a Courtfield Gardens
London
SW5 0PL

Principal activity

The principal activity of the company is that of software services

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Flat11 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 December 2024 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

office equipment

3 years straight line

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Flat11 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 December 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Flat11 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 December 2024 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

1,623

1,623

Additions

2,099

2,099

Disposals

(3,722)

(3,722)

At 31 December 2024

-

-

Depreciation

At 1 September 2023

1,082

1,082

Eliminated on disposal

(1,082)

(1,082)

At 31 December 2024

-

-

Carrying amount

At 31 December 2024

-

-

At 31 August 2023

541

541

5

Debtors

2024
£

2023
£

Other debtors

34,828

43,920

Accrued income

14,975

-

49,803

43,920

 

Flat11 Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

17,369

5,699

Accruals and deferred income

3,630

6,360

20,999

12,059

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

43,920

48,489

(57,581)

34,828

         
       

 

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

2,245

70,944

(29,269)

43,920