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Registered number: 802889
Flitwick Securities Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
David Birch - Brook Lane Services Ltd
Chartered Accountants
The Brook
18b Shefford Road
Meppershall
Bedfordshire
SG17 5LJ
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Directors Sara O'Dell
Jamie O'Dell
David Birch
Company Number 802889
Registered Office The Brook
18b Shefford Road
Meppershall
Bedfordshire
SG17 5LJ
Accountants David Birch - Brook Lane Services Ltd
Chartered Accountants
The Brook
18b Shefford Road
Meppershall
Bedfordshire
SG17 5LJ
Bankers Unity Trust Bank
Nine Brindleyplace
Birmingham
B1 2HB
Page 1
Page 2
Balance Sheet
Registered number: 802889
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 950,000 950,000
Investments 5 100 100
950,100 950,100
CURRENT ASSETS
Debtors 6 831 472
Cash at bank and in hand 158,565 175,598
159,396 176,070
Creditors: Amounts Falling Due Within One Year 7 (53,216 ) (70,511 )
NET CURRENT ASSETS (LIABILITIES) 106,180 105,559
TOTAL ASSETS LESS CURRENT LIABILITIES 1,056,280 1,055,659
PROVISIONS FOR LIABILITIES
Provisions For Charges 9 (36,000 ) (36,000 )
Deferred Taxation 8 (72,303 ) (72,303 )
NET ASSETS 947,977 947,356
CAPITAL AND RESERVES
Called up share capital 10 40,000 40,000
Revaluation reserve 13 688,954 688,954
Profit and Loss Account 219,023 218,402
SHAREHOLDERS' FUNDS 947,977 947,356
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 18 April 2024 and were signed on its behalf by:
Sara O'Dell
Director
Jamie O'Dell
Director
David Birch
Director
18th April 2024
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Flitwick Securities Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 802889 .

The registered office is at The Brook, 18b Shefford Road, Meppershall, Bedfordshire, SG17 5LJ.

The presentation currency of the financial statements is the Pound Sterling (GBP). Monetary amounts are rounded to the nearest whole pound.

The principal activity of the company continued to be that of operating a Mobile Home Park at Tamworth Staffordshire.

The significant accounting policies applied in preparation of these financial statements are set out above. These policies have been consistently applied to all years presented unless otherwise stated.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention modified to include the revaluation of certain fixed assets as stated in the notes to the financial statements, and in accordance with FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover comprises Pitch Fees receivable on a monthly basis from owners of Mobile Homes situate on the company's Long Leasehold Property and commissions on completion of a sale.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives. No depreciation is provided in respect of investment properties as they are valued each year for the purposes of the financial statements.
Leasehold Amortisation £Nil
2.4. Investment Properties
The Long Leasehold Investment Property is revalued annually and any surplus or deficit dealt with through the profit and loss account. No depreciation is provided in respect of Investment Properties.
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value after taking into account estimated selling expenses. In determining cost the purchase price of products, materials and services are used. For work in progress, when applicable, cost includes an appropriate proportion of attributable overheads.
2.6. Financial Instruments
Debtors and Creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses from impairment or amounts written off are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including related costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment if applicable. Impairment is computed as the difference between the carrying value of an asset and best estimate of the recoverable amount if sold in the open market at balance sheet date. If an arrangement constitutes a finance transaction it is measured at present value.

Cash at bank and in hand

Cash at bank and in hand is represented by cash in hand and deposits with financial institutions repayable without penalty within 3 months. Cash equivalents are highly liquid investments that mature within three months from date of acquisition or deposit or notice of withdrawal and are readily convertible to known amounts of cash with insignificant risks of a change in value.

Provisions for liabilities

Provisions for liabilities are made where an event has taken place that gives the company a legal or constructive obligation and a reliable estimate can be made of the amount payable, or that may become payable, taking into account relevant facts, risks, uncertainties and stages of negotiation of a settlement sum.
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2.7. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items included in other comprehensive income or directly in equity.
Current or deferred taxation assets or 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 substantially enacted at the balance sheet date. Deferred tax is provided at the rate expected to apply at the time of crystallisation.

Full provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, except that recognition of deferred tax assets is limited to the sum that is likely to be recovered against the reversal of deferred tax liabilities or future taxable profits. Timing differences arise from the inclusion of income and expenditure in periods which are different for tax assessment purposes to those applicable for financial statements.
2.8. Investments
Investments are revalued annually and any surplus or deficit dealt with through the profit and loss account together with any impairment or diminution in value.


3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Leasehold
£
Cost
As at 1 April 2023 950,000
As at 31 March 2024 950,000
Net Book Value
As at 31 March 2024 950,000
As at 1 April 2023 950,000
Cost or valuation as at 31 March 2023 and 31 March 2024 is represented by:
Land & Property
Leasehold
£
At valuation 950,000
950,000
The long leasehold property is shown at valuation, as considered by the directors after consulting with Chartered Surveyors and Commercial Property Sale agents based on comparable assets sold or being marketed, offers received and mindful of realisation costs. The historical cost of the long leasehold property was £188,742.
The company's bankers held security with a fixed charge over the Long Leasehold Property and a floating charge over all other assets until this was released on 15 June 2022.
Page 5
Page 6
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Leasehold
£
Cost 188,742
5. Investments
Unlisted
£
Cost
As at 1 April 2023 100
As at 31 March 2024 100
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 100
As at 1 April 2023 100
The company holds the whole of the share capital of Mount Pleasant Park (Tamworth) Ltd a dormant subsidiary recorded at its cost of £100 representing the net assets of the company.
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 831 472
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 3,431 10,445
Accruals and deferred income 49,595 57,318
Directors' loan accounts 90 2,648
Amount owed to subsidiary company 100 100
53,216 70,511
Page 6
Page 7
8. Deferred Taxation
The provision for deferred tax relates to the Long Leasehold Property revaluation.
2024 2023
£ £
Other timing differences 72,303 72,303
9. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 April 2023 72,303 36,000 108,303
Balance at 31 March 2024 72,303 36,000 108,303

The provision for deferred tax relates to the Long Leasehold Property revaluation.

Other provisions relate to repairs and maintenance work for which cash expenditure is expected to be incurred in the foreseeable future.


10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
40,000 Ordinary Shares of £ 1 each 40,000 40,000
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Miss Sara O'Dell 1,324 (13,279 ) 12,000 - 45
Mr Jamie O'Dell 1,324 (13,279 ) 12,000 - 45
The directors loans included in creditors are unsecured, interest free and repayable on demand.
Dividends paid to directors (including joint holdings with spouse) were as follows:
2024 2023
£ £
Sara O'Dell 12,000 10,000
Jamie O'Dell 12,000 10,000
12. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 24,000 20,000
Page 7
Page 8
13. Reserves
Revaluation Reserve
£
As at 1 April 2023 688,954
As at 31 March 2024 688,954
Page 8