REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
FOR |
|
FLYING HOMES LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
FOR |
|
FLYING HOMES LIMITED |
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Abridged Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
FLYING HOMES LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants & Business Advisors |
Summit House |
Woodland Park |
Bradford Road |
Cleckheaton |
West Yorkshire |
BD19 6BW |
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
|
|
Tangible assets | 6 |
|
|
|
|
|
CURRENT ASSETS |
Debtors |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
|
|
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | 9 |
|
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
The director acknowledges his 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. |
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
30 SEPTEMBER 2021 |
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Flying Homes Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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. Details of these judgements can be found in the accounting policies. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income statement. |
|
Impairment of fixed assets |
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). |
|
Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. |
|
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. |
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
3. | ACCOUNTING POLICIES - continued |
|
Financial instruments |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
|
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
|
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party, |
|
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recorded at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
|
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
|
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
Provisions for liabilities |
Provisions are made when 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 Income Statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position 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 Statement of Financial Position. |
|
Going concern |
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2020 |
|
Additions |
|
At 30 September 2021 |
|
AMORTISATION |
At 1 October 2020 |
|
Amortisation for year |
|
At 30 September 2021 |
|
NET BOOK VALUE |
|
At 30 September 2021 |
|
At 30 September 2020 |
|
|
6. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2020 |
|
Additions |
|
Disposals | ( |
) |
At 30 September 2021 |
|
DEPRECIATION |
At 1 October 2020 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 30 September 2021 |
|
NET BOOK VALUE |
At 30 September 2021 |
|
At 30 September 2020 |
|
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2021 | 2020 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 6,667 |
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
8. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
|
|
|
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
|
|
|
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 6,667 |
|
9. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
|
|
|
Deferred |
tax |
£ |
Balance at 1 October 2020 |
|
Provided during year | ( |
) |
Balance at 30 September 2021 |
|
|
10. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
|
Ordinary shares | 1 | 1,600 | 1,600 |
FLYING HOMES LIMITED (REGISTERED NUMBER: 07782598) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
|
|
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 30 September 2021 and 30 September 2020: |
|
2021 | 2020 |
£ | £ |
|
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
( |
) |
|
12. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is Alan Simpson. |