2023-01-012023-12-312023-12-31false11493866FLEXI PROPERTY INVESTMENTS 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FLEXI PROPERTY INVESTMENTS LIMITED

Registered Number
11493866
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FLEXI PROPERTY INVESTMENTS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

MARUFU, Fortunate
MARUFU, Loreen Rosemary Chiyedza

Registered Address

34 Waterloo Road
Wolverhampton
WV1 4DG

Registered Number

11493866 (England and Wales)
FLEXI PROPERTY INVESTMENTS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property4243,000243,000
243,000243,000
Current assets
Cash at bank and on hand1,977192
1,977192
Creditors amounts falling due within one year5(81,844)(85,454)
Net current assets (liabilities)(79,867)(85,262)
Total assets less current liabilities163,133157,738
Creditors amounts falling due after one year6(143,502)(143,502)
Provisions for liabilities7(6,600)(6,600)
Net assets13,0317,636
Capital and reserves
Called up share capital100100
Revaluation reserve28,25128,251
Profit and loss account(15,320)(20,715)
Shareholders' funds813,0317,636
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
MARUFU, Fortunate
Director
Registered Company No. 11493866
FLEXI PROPERTY INVESTMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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 as modified by the revaluation of certain assets.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current 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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets
4.Investment property
Following a market appraisal the Director has considered the fair value at the reporting date of the investment properties and they have been valued on the following basis: The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arms length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.

£
Fair value at 01 January 23243,000
At 31 December 23243,000
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,5741,574
Bank borrowings and overdrafts4,7444,744
Amounts owed to related parties60,33561,335
Other creditors15,19117,801
Total81,84485,454
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts143,502143,502
Total143,502143,502
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)6,6006,600
Total6,6006,600
8.Fair value reserve
Fair value revaluation reserve includes a deferred tax provision of £6,600

£
Fair value reserve at 01 January 2328,251
At 31 December 2328,251