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Company Registration No. 12033838 (England and Wales)
Flex Finance Limited Unaudited accounts for the year ended 30 June 2023
Flex Finance Limited Unaudited accounts Contents
Page
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Flex Finance Limited Company Information for the year ended 30 June 2023
Director
A Almagor
Company Number
12033838 (England and Wales)
Registered Office
Churchill House 137-139 Brent Street London NW4 4DJ
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
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Flex Finance Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,355 
24,832 
Current assets
Debtors
84,632 
8,670 
Investments
2,500 
62,500 
Cash at bank and in hand
3,607 
215,434 
90,739 
286,604 
Creditors: amounts falling due within one year
(29,002)
(186,943)
Net current assets
61,737 
99,661 
Net assets
63,092 
124,493 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
63,091 
124,492 
Shareholders' funds
63,092 
124,493 
For the year ending 30 June 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 March 2024 and were signed on its behalf by
A Almagor Director Company Registration No. 12033838
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Flex Finance Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Flex Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 12033838. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on reducing value
Fixtures & fittings
20% on reducing value
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
48,500 
- 
48,500 
Additions
(48,500)
1,806 
(46,694)
At 30 June 2023
- 
1,806 
1,806 
Depreciation
At 1 July 2022
23,668 
- 
23,668 
Charge for the year
- 
451 
451 
On disposals
(23,668)
- 
(23,668)
At 30 June 2023
- 
451 
451 
Net book value
At 30 June 2023
- 
1,355 
1,355 
At 30 June 2022
24,832 
- 
24,832 
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Flex Finance Limited Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,269 
6,270 
Accrued income and prepayments
725 
2,400 
Other debtors
82,638 
- 
84,632 
8,670 
6
Investments held as current assets
2023 
2022 
£ 
£ 
Unlisted investments
2,500 
62,500 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
27,982 
7,129 
Loans from directors
- 
178,794 
Accruals
1,020 
1,020 
29,002 
186,943 
8
Transactions with related parties
Included within other debtors is an amount of £61,785 due from a director and shareholder of the company (2022: £178,794 owed to a director and included within other creditors). Interest is being charged by the company on the overdue amount.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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