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REGISTERED NUMBER: 07056556 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FLEXTECH HOSE SOLUTIONS LIMITED

FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLEXTECH HOSE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G V Shaw
M Robinson
G S White





REGISTERED OFFICE: Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS





REGISTERED NUMBER: 07056556 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 277,274 196,110

CURRENT ASSETS
Stocks 672,599 617,178
Debtors 5 1,064,172 1,057,457
Cash at bank and in hand 170,858 202,168
1,907,629 1,876,803
CREDITORS
Amounts falling due within one year 6 1,231,884 1,208,152
NET CURRENT ASSETS 675,745 668,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

953,019

864,761

CREDITORS
Amounts falling due after more than one
year

7

(142,573

)

(53,848

)

PROVISIONS FOR LIABILITIES (22,621 ) (14,308 )
NET ASSETS 787,825 796,605

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 787,725 796,505
SHAREHOLDERS' FUNDS 787,825 796,605

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.

FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

BALANCE SHEET - 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27 June 2024 and were signed on its behalf by:





G V Shaw - Director


FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

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

1. STATUTORY INFORMATION

Flextech Hose Solutions Limited is a private company limited by shares, incorporated in England and Wales. The registered number is 07056556 and the registered office is 946 Yeovil Road, Slough Trading Estate, Slough, Berkshire, SL1 4NH.

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 and on a going concern basis.

Turnover
Turnover is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Turnover Recognition

Turnover is recognised on the sale of goods when the goods are delivered and title has passed, and is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.

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.
Plant and machinery etc - 10% to 30% on reducing balance

Stocks
Stocks are measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated on a first in, first out basis and includes all costs to purchase, and other costs incurred in bringing the inventories to their present location and condition. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

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

2. ACCOUNTING POLICIES - continued
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 22 (2022 - 15 ) .

FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 35,821 202,700 53,849
Additions - 82,910 4,613
Reclassification/transfer - - -
At 31 December 2023 35,821 285,610 58,462
DEPRECIATION
At 1 January 2023 19,375 148,008 36,369
Charge for year 1,644 25,539 5,082
Eliminated on disposal - - -
At 31 December 2023 21,019 173,547 41,451
NET BOOK VALUE
At 31 December 2023 14,802 112,063 17,011
At 31 December 2022 16,446 54,692 17,480

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 135,246 65,884 493,500
Additions 23,000 26,361 136,884
Reclassification/transfer 53,990 - 53,990
At 31 December 2023 212,236 92,245 684,374
DEPRECIATION
At 1 January 2023 51,691 41,947 297,390
Charge for year 26,809 8,544 67,618
Eliminated on disposal 42,092 - 42,092
At 31 December 2023 120,592 50,491 407,100
NET BOOK VALUE
At 31 December 2023 91,644 41,754 277,274
At 31 December 2022 83,555 23,937 196,110

FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 145,221 189,236 334,457
Additions - 23,000 23,000
At 31 December 2023 145,221 212,236 357,457
DEPRECIATION
At 1 January 2023 97,425 93,783 191,208
Charge for year 8,962 26,809 35,771
At 31 December 2023 106,387 120,592 226,979
NET BOOK VALUE
At 31 December 2023 38,834 91,644 130,478
At 31 December 2022 47,796 95,453 143,249

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 541,457 556,846
Other debtors 72,883 196,668
614,340 753,514

Amounts falling due after more than one year:
Other debtors 449,832 303,943

Aggregate amounts 1,064,172 1,057,457

FLEXTECH HOSE SOLUTIONS LIMITED (REGISTERED NUMBER: 07056556)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 35,492 140,393
Hire purchase contracts and finance leases 58,071 32,847
Trade creditors 381,577 371,891
Taxation and social security 149,774 144,332
Other creditors 606,970 518,689
1,231,884 1,208,152

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 67,596 -
Hire purchase contracts and finance leases 74,977 53,848
142,573 53,848

8. SECURED DEBTS

Barclays Bank hold a fixed and floating charge over all the property or undertaking of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Director 1
Balance outstanding at start of year - -
Amounts advanced 65 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65 -

10. RELATED PARTY DISCLOSURES

During the year, the company made advances of £17,400 (2022: £115,072) to Tetraflex Limited, a company in which a director has a controlling interest.

During the year, the company made advances of £13,417 (2022: £303,943) to Flex Metallic Industries Limited, a company in which a director has a controlling interest.

The loans were interest free and repayable on demand.