Company Registration No. 06541960 (England and Wales)
Flexible Home Improvement Loans Limited
Unaudited accounts
for the year ended 31 March 2024
Flexible Home Improvement Loans Limited
Unaudited accounts
Contents
Flexible Home Improvement Loans Limited
Company Information
for the year ended 31 March 2024
Directors
Mr Phillip Ealey
Ms Frances Haywood
Mr Clive Jinman
Mr Stuart McKellar
Miss Louise Quinn
Mr Richard Smith
Miss Lucy Tucker
Mr J Knight
Mrs A Gregory
Company Number
06541960 (England and Wales)
Registered Office
Royal Borough of Windsor & Maidenhead
Town Hall - St Ives Road
Maidenhead
Berkshire
SL6 1RF
United Kingdom
Accountants
Thames Bridge Accountants
60 Oak Tree Road
Marlow
Buckinghamshire
SL7 3EQ
Flexible Home Improvement Loans Limited
Statement of financial position
as at 31 March 2024
Investments
6,550,923
6,769,089
Cash at bank and in hand
2,918,502
2,482,480
Creditors: amounts falling due within one year
(8,400)
(29,879)
Net current assets
3,056,065
2,493,956
Net assets
9,606,988
9,263,045
Capital contribution reserve
7,373,250
7,373,250
Profit and loss account
2,233,738
1,889,795
Members' funds
9,606,988
9,263,045
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 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 of Directors and authorised for issue on 31 May 2024 and were signed on its behalf by
Mrs A Gregory
Director
Company Registration No. 06541960
Flexible Home Improvement Loans Limited
Notes to the Accounts
for the year ended 31 March 2024
Flexible Home Improvement Loans Limited is a private company, limited by guarantee, registered in England and Wales, registration number 06541960. The registered office is Royal Borough of Windsor & Maidenhead, Town Hall - St Ives Road, Maidenhead, Berkshire, SL6 1RF, United Kingdom.
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 financial statements have been prepared under the historical cost convention, in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.
The accounts are presented in £ sterling.
Non-repayable grants are received from the Department of Communities and Local Government, for the purpose of improving private sector housing. The grants are held on the Balance Sheet as a Capital Grant Reserve.
Investments & Interest Received
The company utilises its funds, comprising the above Capital Grant Reserve, and Accumulated Profits, to make advances to local authorities, who in turn make loans to owners of private sector properties. The loans are of a long term nature, are disclosed as Loans to Group Undertakings, and are stated at cost less any provision for permanent diminution in value.
Interest earned on these loans is at market rates, and is reported, as earned, in the Profit & Loss Account
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Investments
Other investments
Valuation at 1 April 2023
6,769,089
Valuation at 31 March 2024
6,550,923
Investments comprises the value advanced to member councils, for them to make loans to private sector home owners in their areas. The note shows the balance as at the previous year, and the advances and repayments during the year.
Flexible Home Improvement Loans Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Other debtors
145,963
41,355
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
8,400
29,879
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Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).