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REGISTERED NUMBER: 07006610 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th September 2023

for

Flexible Insulation Covers Limited

Flexible Insulation Covers Limited (Registered number: 07006610)






Contents of the Financial Statements
for the Year Ended 30th September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Flexible Insulation Covers Limited

Company Information
for the Year Ended 30th September 2023







DIRECTORS: N R Corby
Mrs D Corby





SECRETARY: Mrs D Corby





REGISTERED OFFICE: 79 Denton Avenue
Grantham
Lincolnshire
NG31 7JE





REGISTERED NUMBER: 07006610 (England and Wales)





ACCOUNTANTS: Hood Parkes & Co
1st Floor
28 Market Place
Grantham
Lincolnshire
NG31 6LR

Flexible Insulation Covers Limited (Registered number: 07006610)

Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 805 979
805 979

CURRENT ASSETS
Stocks 22,041 12,084
Debtors 6 128,227 119,481
Cash at bank 2,813 2,813
153,081 134,378
CREDITORS
Amounts falling due within one year 7 146,465 134,502
NET CURRENT ASSETS/(LIABILITIES) 6,616 (124 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,421

855

PROVISIONS FOR LIABILITIES 201 186
NET ASSETS 7,220 669

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,120 569
SHAREHOLDERS' FUNDS 7,220 669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Flexible Insulation Covers Limited (Registered number: 07006610)

Balance Sheet - continued
30th September 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd April 2024 and were signed on its behalf by:





N R Corby - Director


Flexible Insulation Covers Limited (Registered number: 07006610)

Notes to the Financial Statements
for the Year Ended 30th September 2023

1. STATUTORY INFORMATION

Flexible Insulation Covers 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

Flexible Insulation Covers Limited (Registered number: 07006610)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2022
and 30th September 2023 20,000
AMORTISATION
At 1st October 2022
and 30th September 2023 20,000
NET BOOK VALUE
At 30th September 2023 -
At 30th September 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st October 2022 6,693 5,000 11,693
Additions 212 - 212
At 30th September 2023 6,905 5,000 11,905
DEPRECIATION
At 1st October 2022 5,714 5,000 10,714
Charge for year 386 - 386
At 30th September 2023 6,100 5,000 11,100
NET BOOK VALUE
At 30th September 2023 805 - 805
At 30th September 2022 979 - 979

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80,884 70,523
Other debtors 1,316 1,116
Directors' loan accounts 35,994 37,909
S455 Debtor 9,421 9,421
Prepayments 612 512
128,227 119,481

Flexible Insulation Covers Limited (Registered number: 07006610)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,452 40,461
Trade creditors 19,966 22,592
Tax 15,809 11,777
Social security and other taxes 623 666
Pension 254 -
VAT 6,159 6,345
Other creditors 70,046 52,505
Accruals and deferred income 156 156
146,465 134,502

8. DIRECTORS LOAN ACCOUNT

The balance on the Director's Current Account of £35,994 (2022 - £37,909), included in the figure of Debtors: Amounts falling due within one year, is owed by the directors at the Balance Sheet date. Interest has been charged on the balance at year end.