The Floatworks Limited

	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—6

Registered number: 09467144

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		3,375		4,875
Tangible Assets	5		313,986		364,038

			317,361		368,913
CURRENT ASSETS
Debtors	6	192,322		193,140
Cash at bank and in hand		62,883		57,302

		255,205		250,442
Creditors: Amounts Falling Due Within One Year	7	(370,920 )		(362,602 )

NET CURRENT ASSETS (LIABILITIES)			(115,715 )		(112,160 )

TOTAL ASSETS LESS CURRENT LIABILITIES			201,646		256,753

Creditors: Amounts Falling Due After More Than One Year	8		(1,106,457 )		(1,102,295 )

NET LIABILITIES			(904,811 )		(845,542 )

CAPITAL AND RESERVES
Called up share capital	9		51,412		51,412
Share premium account			53,777		53,777
Profit and Loss Account			(1,010,000 )		(950,731 )

SHAREHOLDERS' FUNDS			(904,811)		(845,542)

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The Floatworks Limited

Balance Sheet (continued)

As At 31 December 2024

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr JOHN BLACKBURN

Director

18/09/2025

The notes on pages 4 to 6 form part of these financial statements.

	Share Capital	Share Premium	Profit and Loss Account	Total
	£	£	£	£
As at 1 January 2023	51,412	-	(888,354 )	(836,942)
Loss for the year and total comprehensive income	-	-	(62,377 )	(62,377)

Purchase of own shares	-	53,777	-	53,777

As at 31 December 2023 and 1 January 2024	51,412	53,777	(950,731 )	(845,542)


Loss for the year and total comprehensive income	-	-	(59,269 )	(59,269)

As at 31 December 2024	51,412	53,777	(1,010,000 )	(904,811)

1. General Information

The Floatworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09467144 . The registered office is 17B ST GEORGE WHARF, LONDON, SW8 2LE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Goodwill. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% SLM
Plant & Machinery	10% SLM
Fixtures & Fittings	25% SLM
Computer Equipment	33% RBM

3. Average Number of Employees

Average number of employees, including directors, during the year was: 37 (2023: 15)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	15,000

As at 31 December 2024	15,000

...CONTINUED

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The Floatworks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	10,125
Provided during the period	1,500

As at 31 December 2024	11,625

Net Book Value
As at 31 December 2024	3,375

As at 1 January 2024	4,875

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	638,950	1,035	69,070	9,064	718,119
Additions	-	-	19,334	-	19,334

As at 31 December 2024	638,950	1,035	88,404	9,064	737,453

Depreciation
As at 1 January 2024	276,990	634	69,070	7,387	354,081
Provided during the period	63,895	104	4,834	553	69,386

As at 31 December 2024	340,885	738	73,904	7,940	423,467

Net Book Value
As at 31 December 2024	298,065	297	14,500	1,124	313,986

As at 1 January 2024	361,960	401	-	1,677	364,038

6. Debtors

	2024	2023
	£	£
Due within one year
Amounts owed by group undertakings	7,200	4,800
Other debtors	31,599	47,590

	38,799	52,390
Due after more than one year
Other debtors	153,523	140,750

	192,322	193,140

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The Floatworks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	70,894	16,983
Bank loans and overdrafts	20,000	29,218
Other loans	24,999	24,999
Other creditors	151,377	216,041
Taxation and social security	103,650	75,361

	370,920	362,602

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other loans	1,102,295	1,102,295
Other creditors	4,162	-

	1,106,457	1,102,295

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	51,412	51,412

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