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Registration number: 06605957

Flexel 1986 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Flexel 1986 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 8

 

Flexel 1986 Limited

Company Information

Directors

Mr Anthony James Neale

Mr Phillip Robert Neale

Mr Peter Neale

Mrs Karen Neale

Registered office

2 Moons Park
Burnt Meadow Road
Redditch
Worcestershire
B98 9PA

Accountants

Randhawa Enterprises Limited
44 Hardwick Field Lane
Warwick
Warwickshire
CV34 6LN

 

Flexel 1986 Limited

(Registration number: 06605957)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

46,340

58,017

Current assets

 

Stocks

5

65,000

60,003

Debtors

6

203,527

262,154

Cash at bank and in hand

 

314,296

274,218

 

582,823

596,375

Creditors: Amounts falling due within one year

7

(211,038)

(245,572)

Net current assets

 

371,785

350,803

Net assets

 

418,125

408,820

Capital and reserves

 

Called up share capital

103

103

Retained earnings

418,022

408,717

Shareholders' funds

 

418,125

408,820

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

 

Flexel 1986 Limited

(Registration number: 06605957)
Balance Sheet as at 31 May 2024

.........................................
Mr Phillip Robert Neale
Director

 

Flexel 1986 Limited

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Retained earnings
£

Total
£

At 1 June 2023

103

408,717

408,820

Profit for the year

-

191,885

191,885

Dividends

-

(182,580)

(182,580)

At 31 May 2024

103

418,022

418,125

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

103

270,819

270,922

Profit for the year

-

231,832

231,832

Dividends

-

(93,934)

(93,934)

At 31 May 2023

103

408,717

408,820

 

Flexel 1986 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Moons Park
Burnt Meadow Road
Redditch
Worcestershire
B98 9PA

These financial statements were authorised for issue by the Board on 30 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Flexel 1986 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, Fixtures & Equipment

15% Reducing balance

Other Tangible Assets

15% Reducing balance

Motor Vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 15).

 

Flexel 1986 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

15,726

80,735

42,655

139,116

Additions

298

374

-

672

At 31 May 2024

16,024

81,109

42,655

139,788

Depreciation

At 1 June 2023

12,923

61,778

6,398

81,099

Charge for the year

432

2,853

9,064

12,349

At 31 May 2024

13,355

64,631

15,462

93,448

Carrying amount

At 31 May 2024

2,669

16,478

27,193

46,340

At 31 May 2023

2,803

18,957

36,257

58,017

5

Stocks

2024
£

2023
£

Other inventories

65,000

60,003

6

Debtors

Current

2024
£

2023
£

Trade debtors

194,974

255,187

Prepayments

8,553

6,967

 

203,527

262,154

7

Creditors

Creditors: amounts falling due within one year

 

Flexel 1986 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2024
£

2023
£

Due within one year

Trade creditors

109,930

141,221

Taxation and social security

97,789

95,622

Other creditors

3,319

8,729

211,038

245,572