FLYCATCHER CORP LTD. Accounts






FLYCATCHER CORP LTD.

	Company No. 10761050
		Information for Filing with The Registrar
		31 May 2025

The Director presents his report and the accounts for the year ended 31 May 2025.

Principal activities
The principal activity of the company during the year under review was retail of games and toys in specialised stores.




Director

The Director who served at any time during the year was as follows:

S. CHEN









































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

S. CHEN
Director
30 October 2025

at	31 May 2025
Company No.		10761050	Notes	2025	2024
				$	$
Fixed assets
	Intangible assets		4	-	-


	Investments		5	76,310	50,100
				76,310	50,100
Current assets
	Stocks		6	3,230,991	531,744
	Debtors		7	1,702,401	1,120,383

	Cash at bank and in hand			288,433	69,106
				5,221,825	1,721,233
Creditors: Amount falling due within one year			8	(7,607,850)	(7,348,035)
Net current liabilities				(2,386,025)	(5,626,802)
Total assets less current liabilities				(2,309,715)	(5,576,702)




Net liabilities				(2,309,715)	(5,576,702)

Capital and reserves
	Called up share capital			425	425



	Profit and loss account		10	(2,310,140)	(5,577,127)

Total equity				(2,309,715)	(5,576,702)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 May 2025 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 30 October 2025 and signed on its behalf by:
S. CHEN
Director
30 October 2025

for the year ended 31 May 2025

General information

FLYCATCHER CORP LTD. is a private company limited by shares and incorporated in England and Wales.

The company's registered number is: 10761050

The address of the company's registered office is:

C/O FKGB

2nd Floor

201 Haverstock Hill

London

NW3 4QG

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.

Going concern

These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, has no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly the director has a reasonable expectation that the company will continue in operational existence and therefore he continues to adopt the going concern basis of accounting to prepare the financial statements.

Accounting policies

Turnover

Turnover represents the fair value of consideration received or receivable for the sale of goods in
the ordinary course of business, excluding value added tax, rebates, and discounts. Revenue from
the sale of goods is recognised when the significant risks and rewards of ownership have been
transferred to the customer, the company no longer retains managerial involvement or control over the
goods, the amount of revenue can be measured reliably, and it is probable that the associated
economic benefits will flow to the company.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Research and development costs

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and net realisable value. Net realisable value is based upon estimated selling prices less further costs expected to be incurred to disposal.

At each balance sheet date, 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 statement of comprehensive income.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Foreign currencies

The functional and presentational currency of the company is US Dollar. The accounts are rounded to the nearest dollar.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

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.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Operating leases: as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Leased assets

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the assets have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2025	2024
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Intangible fixed assets
			Patents and trade-marks	Total
			$	$
		Cost
		At 1 June 2024	418,644	418,644


		At 31 May 2025	418,644	418,644
		Amortisation and impairment
		At 1 June 2024	418,644	418,644



		At 31 May 2025	418,644	418,644
		Net book values
		At 31 May 2025	-	-
		At 31 May 2024	-	-

5	Investments
			Investment in Subsidiaries	Total
			$	$
		Cost or valuation
		At 1 June 2024	50,100	50,100
		Additions	26,210	26,210


		At 31 May 2025	76,310	76,310
		Provisions/Impairment





		Net book values
		At 31 May 2025	76,310	76,310
		At 31 May 2024	50,100	50,100

6	Stocks
			2025	2024
			$	$


		Finished goods	3,230,991	531,744
			3,230,991	531,744

7	Debtors
			2025	2024
			$	$
		Trade debtors	728,405	474,450
		Amounts owed by group undertakings	315	634,154

		Deferred tax asset	961,718	-


		Other debtors	3,478	11,779
		Prepayments and accrued income	8,485	-
			1,702,401	1,120,383

8	Creditors:
		amounts falling due within one year
			2025	2024
			$	$




		Trade creditors	667,504	1,030,893
		Amounts owed to group undertakings	1,802,849	-


		Other creditors	3,077,469	4,233,329
		Accruals and deferred income	2,060,028	2,083,813
			7,607,850	7,348,035

Share Capital

Ordinary, called up, fully paid

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.