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REGISTERED NUMBER: 08598717 (England and Wales)















Flaghead Developments Limited

Financial Statements For The Year Ended 31 July 2023






Flaghead Developments Limited (Registered number: 08598717)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 5

Flaghead Developments Limited

Company Information
For The Year Ended 31 July 2023







DIRECTOR: M A Pearce





REGISTERED OFFICE: 23a Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: 08598717 (England and Wales)





ACCOUNTANTS: SSM Accountants Limited
23a Church Road
Parkstone
Poole
Dorset
BH14 8UF

Flaghead Developments Limited (Registered number: 08598717)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,148 1,205
Investments 5 500 -
1,648 1,205

CURRENT ASSETS
Debtors 6 956,517 566,048
Cash at bank 7,394 608,275
963,911 1,174,323
CREDITORS
Amounts falling due within one year 7 46,048 226,239
NET CURRENT ASSETS 917,863 948,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

919,511

949,289

PROVISIONS FOR LIABILITIES 218 230
NET ASSETS 919,293 949,059

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 918,293 948,059
SHAREHOLDERS' FUNDS 919,293 949,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





M A Pearce - Director


Flaghead Developments Limited (Registered number: 08598717)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Flaghead Developments Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Flaghead Developments Limited (Registered number: 08598717)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2022 5,221
Additions 516
At 31 July 2023 5,737
DEPRECIATION
At 1 August 2022 4,016
Charge for year 573
At 31 July 2023 4,589
NET BOOK VALUE
At 31 July 2023 1,148
At 31 July 2022 1,205

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 500
At 31 July 2023 500
NET BOOK VALUE
At 31 July 2023 500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 557,769 -
Amounts owed by associates 398,312 559,669
Other debtors 436 6,379
956,517 566,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 542
Taxation and social security 91 13
Other creditors 45,957 225,684
46,048 226,239

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Flaghead Developments Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Flaghead Developments Limited for the year ended 31 July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Flaghead Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Flaghead Developments Limited and state those matters that we have agreed to state to the director of Flaghead Developments Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Flaghead Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Flaghead Developments Limited. You consider that Flaghead Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Flaghead Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






SSM Accountants Limited
23a Church Road
Parkstone
Poole
Dorset
BH14 8UF


12 March 2024