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REGISTERED NUMBER: 03838202 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

FLEXPRESS LIMITED

FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLEXPRESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: Mr SP Wenlock





SECRETARY: Mrs M Wenlock





REGISTERED OFFICE: Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH





REGISTERED NUMBER: 03838202 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,625 8,125
Tangible assets 5 1,875,922 1,983,316
1,881,547 1,991,441

CURRENT ASSETS
Stocks 112,000 112,000
Debtors 6 284,459 409,332
Cash at bank and in hand 65,654 83,042
462,113 604,374
CREDITORS
Amounts falling due within one year 7 970,570 980,246
NET CURRENT LIABILITIES (508,457 ) (375,872 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,373,090

1,615,569

CREDITORS
Amounts falling due after more than one
year

8

1,015,529

1,302,386
NET ASSETS 357,561 313,183

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Capital redemption reserve 10,000 10,000
Retained earnings 337,561 293,183
SHAREHOLDERS' FUNDS 357,561 313,183

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

BALANCE SHEET - continued
31ST DECEMBER 2023


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

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

The financial statements were approved by the director and authorised for issue on 5th August 2024 and were signed by:





Mr SP Wenlock - Director


FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Flexpress 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The trading address is 6 Coal Cart, Interchange, Birstall, LE4 3BY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost basis.

The financial statements have been prepared on a going concern basis not withstanding that at 31 December 2023 the company had net current liabilities of £508,457. The director believes this basis to be appropriate and has agreed to provide funds as necessary to meet the day to day running costs of the business for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 50 years
Plant and machinery - Straight line over 8 years with residual
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors, and bank loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.


FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 21 ) .

FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 10,000
AMORTISATION
At 1st January 2023 1,875
Amortisation for year 2,500
At 31st December 2023 4,375
NET BOOK VALUE
At 31st December 2023 5,625
At 31st December 2022 8,125

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2023 173,307 2,200,346 34,043
Additions 5,728 80,488 -
Disposals - (5,000 ) -
At 31st December 2023 179,035 2,275,834 34,043
DEPRECIATION
At 1st January 2023 25,041 402,221 32,079
Charge for year 3,554 208,151 491
Eliminated on disposal - (2,734 ) -
At 31st December 2023 28,595 607,638 32,570
NET BOOK VALUE
At 31st December 2023 150,440 1,668,196 1,473
At 31st December 2022 148,266 1,798,125 1,964

FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 48,840 72,647 2,529,183
Additions 24,236 21,242 131,694
Disposals (16,662 ) - (21,662 )
At 31st December 2023 56,414 93,889 2,639,215
DEPRECIATION
At 1st January 2023 21,211 65,315 545,867
Charge for year 13,261 9,282 234,739
Eliminated on disposal (14,579 ) - (17,313 )
At 31st December 2023 19,893 74,597 763,293
NET BOOK VALUE
At 31st December 2023 36,521 19,292 1,875,922
At 31st December 2022 27,629 7,332 1,983,316

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st January 2023 1,941,835 48,840 1,990,675
Additions 65,000 24,236 89,236
Disposals (5,000 ) (16,662 ) (21,662 )
At 31st December 2023 2,001,835 56,414 2,058,249
DEPRECIATION
At 1st January 2023 362,787 21,211 383,998
Charge for year 182,984 13,261 196,245
Eliminated on disposal (2,734 ) (14,579 ) (17,313 )
At 31st December 2023 543,037 19,893 562,930
NET BOOK VALUE
At 31st December 2023 1,458,798 36,521 1,495,319
At 31st December 2022 1,579,048 27,629 1,606,677

FLEXPRESS LIMITED (REGISTERED NUMBER: 03838202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 244,032 300,274
Other debtors 40,427 109,058
284,459 409,332

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 52,327 47,371
Hire purchase contracts 308,891 275,534
Trade creditors 433,411 354,686
Taxation and social security 16,408 13,650
Other creditors 159,533 289,005
970,570 980,246

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 91,193 143,520
Hire purchase contracts 873,275 1,116,220
Other creditors 51,061 42,646
1,015,529 1,302,386

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 1,182,166 1,391,754
Other creditors 64,571 252,384
1,246,737 1,644,138

The hire purchase liabilities are secured against the assets to which they relate.

Other creditors include an amount of £64,571 (2022: £252,384) which is secured by a fixed charge over trade debtors.