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REGISTERED NUMBER: 08487017 (England and Wales)















Flat Crest Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Flat Crest Limited (Registered number: 08487017)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Flat Crest Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: C J Hellings
Mrs L A Hellings



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 08487017 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Barclays Bank plc
46 North Street
Taunton
Somerset
TA1 1LZ

Flat Crest Limited (Registered number: 08487017)

Abridged Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 99,531 109,566
Investments 7 58,030 60,395
157,561 169,961

CURRENT ASSETS
Stocks 136,730 123,037
Debtors 1,376 -
Cash at bank 441,425 402,116
579,531 525,153
CREDITORS
Amounts falling due within one year 72,385 151,437
NET CURRENT ASSETS 507,146 373,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

664,707

543,677

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 662,707 541,677
SHAREHOLDERS' FUNDS 664,707 543,677

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

Flat Crest Limited (Registered number: 08487017)

Abridged Statement of Financial Position - continued
31 May 2023



The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:





C J Hellings - Director


Flat Crest Limited (Registered number: 08487017)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Flat Crest 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

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 etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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 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.

Flat Crest Limited (Registered number: 08487017)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 11,886
AMORTISATION
At 1 June 2022
and 31 May 2023 11,886
NET BOOK VALUE

At 31 May 2023 -
At 31 May 2022 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 258,257
Additions 21,970
At 31 May 2023 280,227
DEPRECIATION
At 1 June 2022 148,691
Charge for year 32,005
At 31 May 2023 180,696
NET BOOK VALUE
At 31 May 2023 99,531
At 31 May 2022 109,566

Flat Crest Limited (Registered number: 08487017)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 June 2022
and 31 May 2023 25,884
NET BOOK VALUE
At 31 May 2023 25,884
At 31 May 2022 25,884

Investments (neither listed nor unlisted) were as follows:
31.5.23 31.5.22
£    £   
IG Trading 32,146 34,511

8. ULTIMATE CONTROLLING PARTY

The controlling party is CJ Hellings and Mrs LA Hellings.

The above directors controlled the company throughout the current and previous period, by virtue of the fact, they own the majority of the issued share capital.