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REGISTERED NUMBER: 02212020 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FLIPFILE LIMITED

FLIPFILE LIMITED (REGISTERED NUMBER: 02212020)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLIPFILE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A R Cole
G Robinson





SECRETARY: A R Cole





REGISTERED OFFICE: Unit 4, Lineside Industrial Estate
Arndale Road
Littlehampton
West Sussex
BN17 7HD





REGISTERED NUMBER: 02212020 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

FLIPFILE LIMITED (REGISTERED NUMBER: 02212020)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 532 -

CURRENT ASSETS
Stocks 413,603 343,432
Debtors 5 976,680 803,591
Cash at bank 220 -
1,390,503 1,147,023
CREDITORS
Amounts falling due within one year 6 498,991 416,903
NET CURRENT ASSETS 891,512 730,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

892,044

730,120

CREDITORS
Amounts falling due after more than one
year

7

45,000

65,000
NET ASSETS 847,044 665,120

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 846,644 664,720
847,044 665,120

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

FLIPFILE LIMITED (REGISTERED NUMBER: 02212020)

BALANCE SHEET - continued
31 DECEMBER 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 11 April 2024 and were signed on its behalf by:




A R Cole - Director



G Robinson - Director


FLIPFILE LIMITED (REGISTERED NUMBER: 02212020)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Flipfile 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Trademarks
Expenditure relating to trademarks has been capitalised. Trademarks are then amortised over their useful economic lives, being 10 years.

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

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 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.

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.

3. EMPLOYEES AND DIRECTORS

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

FLIPFILE LIMITED (REGISTERED NUMBER: 02212020)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 1,303
At 31 December 2023 1,303
AMORTISATION
Charge for year 65
No description 706
At 31 December 2023 771
NET BOOK VALUE
At 31 December 2023 532

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 144,655 251,485
Amounts owed by group undertakings 656,722 407,412
Other debtors 175,303 144,694
976,680 803,591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,202 113,095
Trade creditors 108,426 114,796
Amounts owed to group undertakings 150,500 66,333
Taxation and social security 117,715 96,140
Other creditors 22,148 26,539
498,991 416,903

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 45,000 65,000

FLIPFILE LIMITED (REGISTERED NUMBER: 02212020)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 80,202 93,095
Bank loans 65,000 85,000
145,202 178,095

The invoice financing account and bank loan are secured by way of a fixed and floating charge over all assets of the company.