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Company Registration No. 01353631 (England and Wales)
Flair Electronic Systems Limited Unaudited accounts for the year ended 30 April 2024
Flair Electronic Systems Limited Unaudited accounts Contents
Page
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Flair Electronic Systems Limited Company Information for the year ended 30 April 2024
Directors
C A Hickton P R Hickton Johannah Hickton
Secretary
C A Hickton
Company Number
01353631 (England and Wales)
Registered Office
62 WILBURY WAY HITCHIN HERTFORDSHIRE SG4 0TP UNITED KINGDOM
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Flair Electronic Systems Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
33,014 
34,370 
Current assets
Inventories
301,216 
261,635 
Debtors
309,992 
271,589 
Cash at bank and in hand
631 
150 
611,839 
533,374 
Creditors: amounts falling due within one year
(487,188)
(402,395)
Net current assets
124,651 
130,979 
Total assets less current liabilities
157,665 
165,349 
Creditors: amounts falling due after more than one year
(51,971)
(71,789)
Provisions for liabilities
Deferred tax
(3,304)
(3,304)
Net assets
102,390 
90,256 
Capital and reserves
Called up share capital
3,100 
3,100 
Profit and loss account
99,290 
87,156 
Shareholders' funds
102,390 
90,256 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by
C A Hickton Director Company Registration No. 01353631
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Flair Electronic Systems Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Flair Electronic Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 01353631. The registered office is 62 WILBURY WAY, HITCHIN, HERTFORDSHIRE, SG4 0TP, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
land not depreciated, buildings 2% straight line
Plant & machinery
25% and 15% reducing balance
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Flair Electronic Systems Limited Notes to the Accounts for the year ended 30 April 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Going concern
The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis the directors believe it is appropriate to prepare these accounts on a going concern basis.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
140,960 
34,864 
56,333 
232,157 
Additions
6,699 
- 
875 
7,574 
At 30 April 2024
147,659 
34,864 
57,208 
239,731 
Depreciation
At 1 May 2023
129,682 
25,432 
42,673 
197,787 
Charge for the year
4,098 
1,415 
3,417 
8,930 
At 30 April 2024
133,780 
26,847 
46,090 
206,717 
Net book value
At 30 April 2024
13,879 
8,017 
11,118 
33,014 
At 30 April 2023
11,278 
9,432 
13,660 
34,370 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
168,277 
146,308 
Accrued income and prepayments
40,581 
24,147 
Other debtors
101,134 
101,134 
309,992 
271,589 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
22,092 
18,618 
Trade creditors
148,827 
123,074 
Taxes and social security
7,694 
8,057 
Other creditors
240,201 
160,100 
Loans from directors
68,374 
92,352 
Accruals
- 
194 
487,188 
402,395 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
51,971 
71,789 
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Flair Electronic Systems Limited Notes to the Accounts for the year ended 30 April 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,250 Ordinary A shares of £1 each
1,250 
1,250 
1,250 Ordinary B shares of £1 each
1,250 
1,250 
600 Ordinary C shares of £1 each
600 
600 
3,100 
3,100 
9
Transactions with related parties
There are no terms relating to the payment of interest of the repayment of capital.
10
Controlling party
The ultimate controlling parties are the directors and shareholders who are acting in concert.
11
Average number of employees
During the year the average number of employees was 17 (2023: 17).
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