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REGISTERED NUMBER: 12862185 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FLEX METALLIC INDUSTRIES LIMITED

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)






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


FLEX METALLIC INDUSTRIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G V Shaw
W Beattie
L P Steward





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





REGISTERED NUMBER: 12862185 (England and Wales)





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

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 176,938 199,924

CURRENT ASSETS
Stocks 135,759 127,089
Debtors 5 309,897 151,445
Cash at bank 44,800 23,479
490,456 302,013
CREDITORS
Amounts falling due within one year 6 428,501 265,881
NET CURRENT ASSETS 61,955 36,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,893

236,056

CREDITORS
Amounts falling due after more than one
year

7

407,596

434,533
NET LIABILITIES (168,703 ) (198,477 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (168,704 ) (198,478 )
(168,703 ) (198,477 )

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.

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

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 Income Statement 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 W Beattie - Director




L P Steward - Director


FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

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

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

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

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2023 15,566 38,378 108,006
Additions - - -
At 31 December 2023 15,566 38,378 108,006
DEPRECIATION
At 1 January 2023 - 4,126 9,531
Charge for year - 3,425 8,206
At 31 December 2023 - 7,551 17,737
NET BOOK VALUE
At 31 December 2023 15,566 30,827 90,269
At 31 December 2022 15,566 34,252 98,475

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 62,149 2,000 4,366 230,465
Additions 1,964 - - 1,964
At 31 December 2023 64,113 2,000 4,366 232,429
DEPRECIATION
At 1 January 2023 15,737 - 1,147 30,541
Charge for year 11,848 667 804 24,950
At 31 December 2023 27,585 667 1,951 55,491
NET BOOK VALUE
At 31 December 2023 36,528 1,333 2,415 176,938
At 31 December 2022 46,412 2,000 3,219 199,924

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 244,529 91,461
Other debtors 65,368 59,984
309,897 151,445

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) 42,934 45,600
Trade creditors 334,964 208,000
Taxation and social security 34,419 8,381
Other creditors 16,184 3,900
428,501 265,881

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) 90,236 130,590
Other creditors 317,360 303,943
407,596 434,533

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 54,534 52,791
Between one and five years 116,190 172,467
170,724 225,258

Finance charges repayable:
Within one year 11,600 7,191
Between one and five years 25,954 41,877
37,554 49,068

Net obligations repayable:
Within one year 42,934 45,600
Between one and five years 90,236 130,590
133,170 176,190

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 86,000 86,000
Between one and five years 150,500 236,500
236,500 322,500

FLEX METALLIC INDUSTRIES LIMITED (REGISTERED NUMBER: 12862185)

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

9. RELATED PARTY DISCLOSURES

During the year, the company received advances of £13,417 (2022: £303,943) from Flextech Hose Solutions Ltd, a company in which a director has a controlling interest.

During the year, the company made advances of £4,826 (2022: £30,000) to Tetraflex, a company in which a director has a controlling interest.

The loans were interest free and repayable on demand.