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REGISTERED NUMBER: 03163254 (England and Wales)















FLOWDRILL (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)

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










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


FLOWDRILL (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J Steffen
Mr M G Steffen





SECRETARY: Mr J Steffen





REGISTERED OFFICE: Lasyard House, Underhill Street
Bridgnorth
Shropshirre
WV16 4BB





REGISTERED NUMBER: 03163254 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Flowdrill (UK) Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Flowdrill (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Flowdrill (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Flowdrill (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flowdrill (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Flowdrill (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Flowdrill (UK) Limited. You consider that Flowdrill (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Flowdrill (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


6 September 2024

FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,037 47,612

CURRENT ASSETS
Debtors 5 23,535 24,174
Cash at bank 186,085 165,822
209,620 189,996
CREDITORS
Amounts falling due within one year 6 228,751 216,496
NET CURRENT LIABILITIES (19,131 ) (26,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,906

21,112

PROVISIONS FOR LIABILITIES 9,510 11,903
NET ASSETS 9,396 9,209

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,296 9,109
SHAREHOLDERS' FUNDS 9,396 9,209

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

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

The directors acknowledge their 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.

FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)

STATEMENT OF FINANCIAL POSITION - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:




Mr J Steffen - Director



Mr M G Steffen - Director


FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)

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


1. STATUTORY INFORMATION

Flowdrill (UK) 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net sales of goods/services, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 6,912 58,190 65,102
DEPRECIATION
At 1 January 2023 5,852 11,638 17,490
Charge for year 265 9,310 9,575
At 31 December 2023 6,117 20,948 27,065
NET BOOK VALUE
At 31 December 2023 795 37,242 38,037
At 31 December 2022 1,060 46,552 47,612

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,535 24,174

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 35,779 6,812
Amounts owed to group undertakings 141,714 184,680
Taxation and social security 32,917 17,141
Other creditors 18,341 7,863
228,751 216,496

7. RELATED PARTY DISCLOSURES

Flowdrill (UK) Limited is a wholly owned subsidiary of Flowdrill B.V. At the balance sheet date, Flowdrill (UK) Limited owed Flowdrill B.V. £118,016 (2022: £163,688).
Flowdrill Engineering B.V. is another subsidiary of Flowdrill B.V. At the balance sheet date, Flowdrill (UK) Limited owed Flowdrill Engineering B.V. £23,698 (2022: £20,992).

FLOWDRILL (UK) LIMITED (REGISTERED NUMBER: 03163254)

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


8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Flowdrill B.V., a dutch company owned by Mr J.P. Steffen and Mr M.G. Steffen.

The parent company address is:
Flowdrill B.V.
Peppelkade 56
3992 AK Houten
Netherlands