2023-12-012024-11-302024-11-30false05287462FLUID PRODUCTIONS 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FLUID PRODUCTIONS LTD

Registered Number
05287462
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

FLUID PRODUCTIONS LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

HOPE, Ian

Company Secretary

HOPE, Ian

Registered Address

Unit 7 Lakeland Agricultural Centre
Cockermouth
CA13 0QQ

Registered Number

05287462 (England and Wales)
FLUID PRODUCTIONS LTD
Statement of Financial Position
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3599,141574,117
599,141574,117
Current assets
Stocks4256,231130,754
Debtors5396,745556,480
Cash at bank and on hand337,079310,379
990,055997,613
Creditors amounts falling due within one year6(267,041)(367,491)
Net current assets (liabilities)723,014630,122
Total assets less current liabilities1,322,1551,204,239
Provisions for liabilities(149,785)(143,530)
Net assets1,172,3701,060,709
Capital and reserves
Called up share capital11
Other reserves11
Profit and loss account1,172,3681,060,707
Shareholders' funds1,172,3701,060,709
The financial statements were approved and authorised for issue by the Director on 9 June 2025, and are signed on its behalf by:
HOPE, Ian
Director
Registered Company No. 05287462
FLUID PRODUCTIONS LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Interest income
Interest income is recognised using the effective interest rate method.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other 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.
Trade and other 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.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year1313
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 December 231,536,245169,50033,2851,739,030
Additions148,99761,6505,310215,957
Disposals(31,757)(70,210)-(101,967)
At 30 November 241,653,485160,94038,5951,853,020
Depreciation and impairment
At 01 December 231,047,17488,95828,7811,164,913
Charge for year133,4663,92230,078167,466
On disposals(17,890)-(60,610)(78,500)
At 30 November 241,162,75092,880(1,751)1,253,879
Net book value
At 30 November 24490,73568,06040,346599,141
At 30 November 23489,07180,5424,504574,117
4.Stocks

2024

2023

££
Payments on account, stocks256,231130,754
Total256,231130,754
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables296,745554,490
Amounts owed by associates and joint ventures / participating interests100,000-
Prepayments and accrued income-1,990
Total396,745556,480
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables66,415124,730
Taxation and social security71,447168,123
Other creditors83,53858,542
Accrued liabilities and deferred income45,64116,096
Total267,041367,491
7.Pension commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,300.18 (PYR - £1,093.00) were due to the fund. They are included in other creditors.
8.Related party transactions
Fluid Productions Limited has loaned money to another company of which Mr Ian Hope is a director of. The amount outstanding at the year-end is £100,000 (2023 - £0). No interest is charged on the loan and it is repayable on demand.