Registered number
11177576
Flexford Holdings Limited
Unaudited Filleted Accounts
31 December 2023
Flexford Holdings Limited
Registered number: 11177576
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 200 200
Current assets
Stocks - 2,699,734
Debtors 3 5,151,486 2,451,752
Cash at bank and in hand 530 530
5,152,016 5,152,016
Net current assets 5,152,016 5,152,016
Net assets 5,152,216 5,152,216
Capital and reserves
Called up share capital 110 110
Profit and loss account 5,152,106 5,152,106
Shareholders' funds 5,152,216 5,152,216
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T. Wakeford
Director
Approved by the board on 6 September 2024
Flexford Holdings Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,151,486 2,091,752
Other debtors - 360,000
5,151,486 2,451,752
4 Related party transactions
Included within amounts owed by group understandings is an amount due from Direct Tool Company Limited, a 100% subsidiary, amounting to £4,738,432 (2022: £1,678,698) and Amba Group Limited, a 100% subsidiary, amounting to £413,054 (2022: £413,054).
5 Other information
Flexford Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Castlehill Business Park
Flexford Road
Southampton
SO52 9DF
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