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
Flex Finance Limited
Company Information
for the year ended 30 June 2023
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
Flex Finance Limited
Statement of financial position
as at 30 June 2023
Tangible assets
1,355
24,832
Cash at bank and in hand
3,607
215,434
Creditors: amounts falling due within one year
(29,002)
(186,943)
Net current assets
61,737
99,661
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
Flex Finance Limited
Notes to the Accounts
for the year ended 30 June 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
At 1 July 2022
23,668
-
23,668
Charge for the year
-
451
451
On disposals
(23,668)
-
(23,668)
At 30 June 2023
-
1,355
1,355
At 30 June 2022
24,832
-
24,832
Flex Finance Limited
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Accrued income and prepayments
725
2,400
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
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).