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REGISTERED NUMBER: 09834596 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Flo-Drive Technology Limited

Flo-Drive Technology Limited (Registered number: 09834596)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Flo-Drive Technology Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Blackmore
Mrs S S Blackmore





REGISTERED OFFICE: 15C Telford Drive
Newark
Nottinghamshire
NG24 2DX





REGISTERED NUMBER: 09834596 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Flo-Drive Technology Limited (Registered number: 09834596)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 525,491 525,491

CURRENT ASSETS
Debtors 5 100 7,200
Cash at bank 23,267 67,769
23,367 74,969
CREDITORS
Amounts falling due within one year 6 42,313 22,332
NET CURRENT (LIABILITIES)/ASSETS (18,946 ) 52,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

506,545

578,128

CREDITORS
Amounts falling due after more than one
year

7

191,778

287,932
NET ASSETS 314,767 290,196

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 314,667 290,096
SHAREHOLDERS' FUNDS 314,767 290,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





P Blackmore - Director


Flo-Drive Technology Limited (Registered number: 09834596)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Flo-Drive Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - not provided

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The accounts have been prepared on a going concern basis which assumes that the director will continue to support the Company. If this support was not to continue then this basis may not be appropriate.

As at the 31 March 2024, the company's net liabilities exceeded its net assets by £18,946 (2021:net current assets of £52,637)

Should the Company then not be able to continue trading, adjustments to the value of assets would be needed to provide for any further liabilities which might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Flo-Drive Technology Limited (Registered number: 09834596)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Land and
Buildings
£   
COST
At 1 April 2023
and 31 March 2024 525,491
NET BOOK VALUE
At 31 March 2024 525,491
At 31 March 2023 525,491

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 7,100
Other debtors 100 100
100 7,200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 31,483 11,000
Amounts owed to group undertakings 1,460 -
Taxation and social security 7,870 6,932
Other creditors 1,500 4,400
42,313 22,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 191,778 287,932

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 65,846 243,932

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 223,261 298,932

The bank loan is secured over the freehold property known as 15C Telford Drive, Newark.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100