REGISTERED NUMBER: 12536018 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

FLYP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

N L K Brigly

J H Fabricant

Registered office:

131 Finsbury Pavement

London

EC2A 1NT

Registered number:

12536018 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

4

11,018

4,603

Current assets

Debtors

5

37,111

71,907

Cash at bank

131,798

563,605

168,909

635,512

Creditors

Amounts falling due within one year

6

45,489

31,480

Net current assets

123,420

604,032

Total assets less current liabilities

134,438

608,635

Capital and reserves

Called up share capital

7

476

464

Share premium

2,026,247

1,881,088

Retained earnings

(1,892,285

)

(1,272,917

)

Shareholders' funds

134,438

608,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 8 October 2025 and were signed on its behalf by:

N L K Brigly - Director

1.	Statutory information

Flyp Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The company's forecasts and projections, taking account of reasonably foreseeable changes in trading performance, show that the company should be able to meet its obligations as they fall due.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 5 (2024 - 2 ) .

4.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 April 2024

3,005

6,086

9,091

Additions

-

9,276

9,276

At 31 March 2025

3,005

15,362

18,367

Depreciation

At 1 April 2024

1,584

2,904

4,488

Charge for year

356

2,505

2,861

At 31 March 2025

1,940

5,409

7,349

Net book value

At 31 March 2025

1,065

9,953

11,018

At 31 March 2024

1,421

3,182

4,603

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Other debtors

37,111

71,907

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

484

202

Trade creditors

11,334

19,399

Taxation and social security

21,158

9,808

Other creditors

12,513

2,071

45,489

31,480

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2025 £

2024 £

4,757,102 (2024: 4,643,057)

Ordinary

£0.0001

476

464

114,045 Ordinary shares of £0.0001 each were allotted as fully paid at a premium of £6.46 per share during the year.

8.	Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,323 (2024 - £2,749). Contributions totalling £1,064 (2024 - £622) were payable to the fund at the reporting date and are included in creditors.

9.	Post balance sheet events

Following the year end the company has raised £261,752 via a bridge round.

10.	Ultimate controlling party

The ultimate controlling party is N L K Brigly.