REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Flavin Group Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Flavin Group Limited |
Flavin Group Limited (Registered number: 11185911) |
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Flavin Group Limited |
Company Information |
for the Year Ended 31 March 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Prince William House |
10 Lower Church Street |
Ashby de la Zouch |
Leicestershire |
LE65 1AB |
Flavin Group Limited (Registered number: 11185911) |
Statement of Financial Position |
31 March 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
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. |
Flavin Group Limited (Registered number: 11185911) |
Statement of Financial Position - continued |
31 March 2022 |
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 |
Flavin Group Limited (Registered number: 11185911) |
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
1. | STATUTORY INFORMATION |
Flavin Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Flavin Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Loans from directors |
Any loans from the director's to the company are interest free and repayable on demand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Flavin Group Limited (Registered number: 11185911) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed by subsidiary | 95,464 | 120,547 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Tax |
Amounts owing to subsidiary | 1,467 | 867 |
Directors' current accounts | 3,269 | 1,100 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 271,033 | 288,016 |
Flavin Group Limited (Registered number: 11185911) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary A | £1 | 99 | 99 |
Ordinary B | £1 | 1 | 1 |
100 | 100 |
10. | RELATED PARTY DISCLOSURES |
During the year dividends of £45,000 (2021 £33,730) were received from Flavin and McGhee Limited - a company which is wholly owned by Flavin Group Limited. |
At the balance sheet date the amount owing to Flavin Group Limited by Flavin and McGhee Limited was £95,464 (2021 - £120,547). The balance is interest free and repayable on demand. |
During the year dividends of £1,440 (2021 £12,770) were received from Hybrid Servicing Limited - a company which is wholly owned by Flavin Group Limited. |
At the balance sheet date the amount owing to Flavin Group Limited by Hybrid Servicing Limited was £nil (2021 - £nil). The balance is interest free and repayable on demand. |