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Registered number: 11903692 THE FLYWHEELERS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE FLYWHEELERS LIMITED REGISTERED NUMBER: 11903692 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 7,742 |  | 6,311
Tangible assets | 5 |  | 7,693 |  | 9,527
|  |  | 15,435 |  | 15,838
Current assets |  |  |  |  |
Stocks |  | - |  | (974) |
Debtors: amounts falling due within one year | 6 | 143,138 |  | 240,318 |
Cash at bank and in hand | 7 | 551,266 |  | 233,484 |
|  | 694,404 |  | 472,828 |
Creditors: amounts falling due within one year | 8 | (283,169) |  | (290,570) |
Net current assets |  |  | 411,235 |  | 182,258
Total assets less current liabilities |  |  | 426,670 |  | 198,096
Net assets |  |  | 426,670 |  | 198,096
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 191 |  | 167
Profit and loss account |  |  | 426,479 |  | 197,929
|  |  | 426,670 |  | 198,096
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THE FLYWHEELERS LIMITED REGISTERED NUMBER: 11903692 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Kate Baldwin
Director
Date: 30 October 2025
The notes on pages 3 to 8 form part of these financial statements. Page 2
THE FLYWHEELERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
The Flywheelers Limited is a private limited company which is registered in the UK and limited by share shares incorporated in England and Wales. The company's registered number is 11903692. The address of its principle place of business is Mary Sheridan House, 11-19 St Thomas St, SE1 9RY. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each 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 period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
THE FLYWHEELERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Pensions
Defined contribution pension plan The Company contributes into 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 payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Page 4
THE FLYWHEELERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Patents | - | 10 | years
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 25% |
|  |  |  | Computer equipment | - | 33% |
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 5
THE FLYWHEELERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 12 (2024 - 6).
4. | Intangible assets
|  | Patents
|  | £
| Cost |
| At 1 April 2024 | 7,704
| Additions | 2,419
| At 31 March 2025 | 10,123
| Amortisation |
| At 1 April 2024 | 1,394
| Charge for the year on owned assets | 987
| At 31 March 2025 | 2,381
| Net book value |
| At 31 March 2025 | 7,742
| At 31 March 2024 | 6,311
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THE FLYWHEELERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Office equipment | Computer equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2024 | 657 | 15,996 | 16,653
| Additions | 397 | 3,452 | 3,849
| At 31 March 2025 | 1,054 | 19,448 | 20,502
| Depreciation |  |  |
| At 1 April 2024 | 167 | 6,959 | 7,126
| Charge for the year on owned assets | 210 | 5,473 | 5,683
| At 31 March 2025 | 377 | 12,432 | 12,809
| Net book value |  |  |
| At 31 March 2025 | 677 | 7,016 | 7,693
| At 31 March 2024 | 490 | 9,037 | 9,527
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 107,981 | 215,682
| Other debtors | - | 67
| Prepayments and accrued income | 35,157 | 24,569
|  | 143,138 | 240,318
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 551,266 | 233,484
|  | 551,266 | 233,484
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THE FLYWHEELERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 6,679 | 35,276
| Corporation tax | 78,204 | 53,307
| Other taxation and social security | 52,026 | 54,315
| Other creditors | 34,208 | 20,000
| Accruals and deferred income | 112,052 | 127,672
|  | 283,169 | 290,570
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000 (2024 - 1,000) A Ordinary shares of £0.1 each | 100.0 | 100.0
|  | 905 (2024 - 667) B Ordinary shares of £0.1 each | 90.5 | 66.7
|  |  | 190.5 | 166.7
During the period 238 B Ordinary shares of £0.1 each were issued at nominal value.
10. | Pension commitments
The company contributes to a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held seperately from those of the company is an independently administred fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £31,456. Contributions totalling £4,350 (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
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