55 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 37,390 7,436 44,826 13,427 4,710 18,137 26,689 23,963 xbrli:pure xbrli:shares iso4217:GBP 09049537 2023-04-01 2024-03-31 09049537 2024-03-31 09049537 2023-03-31 09049537 2022-04-01 2023-03-31 09049537 2023-03-31 09049537 2022-03-31 09049537 bus:Director1 2023-04-01 2024-03-31 09049537 core:WithinOneYear 2024-03-31 09049537 core:WithinOneYear 2023-03-31 09049537 core:ShareCapital 2024-03-31 09049537 core:ShareCapital 2023-03-31 09049537 core:RetainedEarningsAccumulatedLosses 2024-03-31 09049537 core:RetainedEarningsAccumulatedLosses 2023-03-31 09049537 bus:SmallEntities 2023-04-01 2024-03-31 09049537 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09049537 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09049537 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09049537 bus:FullAccounts 2023-04-01 2024-03-31 09049537 core:OfficeEquipment 2023-04-01 2024-03-31 09049537 core:OfficeEquipment 2023-03-31 09049537 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 09049537
Flexible Options Limited
Filleted Unaudited Financial Statements
31 March 2024
Flexible Options Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
26,689
23,963
Current assets
Debtors
6
59,423
52,404
Cash at bank and in hand
251,621
202,014
---------
---------
311,044
254,418
Creditors: amounts falling due within one year
7
172,076
153,705
---------
---------
Net current assets
138,968
100,713
---------
---------
Total assets less current liabilities
165,657
124,676
---------
---------
Net assets
165,657
124,676
---------
---------
Capital and reserves
Called up share capital
3
3
Profit and loss account
165,654
124,673
---------
---------
Shareholders funds
165,657
124,676
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Flexible Options Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 4 September 2024 , and are signed on behalf of the board by:
J Rickett
Director
Company registration number: 09049537
Flexible Options Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Corporation Road, Newport, South Wales, NP19 0AR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 55 (2023: 47 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2023
37,390
37,390
Additions
7,436
7,436
--------
--------
At 31 March 2024
44,826
44,826
--------
--------
Depreciation
At 1 April 2023
13,427
13,427
Charge for the year
4,710
4,710
--------
--------
At 31 March 2024
18,137
18,137
--------
--------
Carrying amount
At 31 March 2024
26,689
26,689
--------
--------
At 31 March 2023
23,963
23,963
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
59,423
52,404
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,609
6,506
Corporation tax
70,001
39,577
Social security and other taxes
89,996
102,952
Other creditors
5,470
4,670
---------
---------
172,076
153,705
---------
---------
8. Directors' advances, credits and guarantees
The Directors are owed the following amounts:
2024 2023
£ £
H Rosser 42 42
J Rickett 1,247 1,247
E Rees 681 681