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Registered Number: 12412208
England and Wales

 

 

 

FLEXXGENIX LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors Colin Archer
Harmeet Archer
Registered Number 12412208
Registered Office 43 Sherwood Way
West Wickham
Kent
BR4 9PB
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
The principal activity of the company during the financial year was of specialised design.
Directors
The directors who served the company throughout the year were as follows:
Colin Archer
Harmeet Archer
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.


Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.


In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Harmeet Archer
Director

Date approved: 22 October 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Flexxgenix Ltd for the year ended 31 January 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Flexxgenix Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Flexxgenix Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Flexxgenix Ltd and state those matters that we have agreed to state to the Board of Directors of Flexxgenix Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flexxgenix Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Flexxgenix Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Flexxgenix Ltd.You consider that Flexxgenix Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Flexxgenix Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 January 2024.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
22 October 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 18,935    18,723 
18,935    18,723 
Current assets      
Stocks 5 7,700    7,000 
Debtors 6 6,651    1,700 
Cash at bank and in hand 1,094    1,398 
15,445    10,098 
Creditors: amount falling due within one year 7 (54,004)   (53,484)
Net current assets (38,559)   (43,386)
 
Total assets less current liabilities (19,624)   (24,663)
Net assets (19,624)   (24,663)
 

Capital and reserves
     
Profit and loss account (19,624)   (24,663)
Shareholders' funds (19,624)   (24,663)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 October 2024 and were signed on its behalf by:


-------------------------------
Colin Archer
Director
4
  Retained Earnings   Total
£ £
At 01 February 2022 (20,591) (20,591)
Profit for the year (4,072) (4,072)
Total comprehensive income for the year (4,072) (4,072)
Total investments by and distributions to owners
At 31 January 2023 (24,663) (24,663)
At 01 February 2023 (24,663) (24,663)
Profit for the year 5,039  5,039 
Total comprehensive income for the year 5,039  5,039 
Total investments by and distributions to owners
At 31 January 2024 (19,624) (19,624)
5
General Information
Flexxgenix Ltd is a private company, limited by shares, registered in England and Wales, registration number 12412208, registration address 43 Sherwood Way, West Wickham, Kent, BR4 9PB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Equipment, Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2024
£
  2023
£
Other staff costs 45   
45   

3.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
4.

Tangible fixed assets

Cost or valuation Equipment, Fixtures and Fittings   Total
  £   £
At 01 February 2023 42,976    42,976 
Additions 6,523    6,523 
Disposals  
At 31 January 2024 49,499    49,499 
Depreciation
At 01 February 2023 24,253    24,253 
Charge for year 6,311    6,311 
On disposals  
At 31 January 2024 30,564    30,564 
Net book values
Closing balance as at 31 January 2024 18,935    18,935 
Opening balance as at 01 February 2023 18,723    18,723 


5.

Stocks

2024
£
  2023
£
Work in Progress 700   
Stocks 7,000    7,000 
7,700    7,000 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 5,681    1,700 
Prepayments & Accrued Income 970   
6,651    1,700 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 854   
Other Creditors 1,185    1,585 
Directors Current Account 51,779    51,560 
VAT 186    339 
54,004    53,484 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

6