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REGISTERED NUMBER: 10572648 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FLOW RIGHT SERVICES (NW) LTD

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

FLOW RIGHT SERVICES (NW) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr L Davies





REGISTERED OFFICE: Unit 17
Willows Activity Farm
Coursers Road
St Albans
Hertfordshire
AL4 0PF





REGISTERED NUMBER: 10572648 (England and Wales)





ACCOUNTANTS: Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 64,091 85,455
Tangible assets 5 204,005 175,130
268,096 260,585

CURRENT ASSETS
Debtors 6 125,903 130,240
Cash at bank 42,190 -
168,093 130,240
CREDITORS
Amounts falling due within one year 7 245,191 233,113
NET CURRENT LIABILITIES (77,098 ) (102,873 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,998

157,712

CREDITORS
Amounts falling due after more than one
year

8

164,789

155,873
NET ASSETS 26,209 1,839

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 26,109 1,739
SHAREHOLDERS' FUNDS 26,209 1,839

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

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

The director acknowledges his 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.

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

BALANCE SHEET - continued
31 JANUARY 2024


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 director and authorised for issue on 18 October 2024 and were signed by:





Mr L Davies - Director


FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Flow Right Services (NW) Ltd is a private company limited by shares, registered in England and Wales. The company's registered number is 10572648 and registered office address is Office 10, Berkeley House Barnet Road, London Colney, St. Albans, England, AL2 1BG.

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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill , being the amount paid in connection with the acquisition of the franchise in 2018 is been written off evenly over the remaining estimated useful life not exceeding 10 years .

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

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.

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition
Amounts due under contracts-not yet invoiced (work in progress) are valued in at the recoverable standard value of time charged by all personnel engaged in the provision of engineering services. Revenue is recognised as the contracts progress to reflect the partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed.

Going concern
The directors have considered the working capital position of the company and future working capital requirements, including any impact from the ongoing conflict in Ukraine and high interest rates in the UK and are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than one year from date of approval of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 213,638
AMORTISATION
At 1 February 2023 128,183
Charge for year 21,364
At 31 January 2024 149,547
NET BOOK VALUE
At 31 January 2024 64,091
At 31 January 2023 85,455

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 324,568
Additions 139,203
Disposals (87,222 )
At 31 January 2024 376,549
DEPRECIATION
At 1 February 2023 149,438
Charge for year 54,506
Eliminated on disposal (31,400 )
At 31 January 2024 172,544
NET BOOK VALUE
At 31 January 2024 204,005
At 31 January 2023 175,130

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 193,728
Additions 106,391
Disposals (87,222 )
Transfer to ownership (22,533 )
At 31 January 2024 190,364
DEPRECIATION
At 1 February 2023 61,586
Charge for year 33,188
Eliminated on disposal (31,400 )
At 31 January 2024 63,374
NET BOOK VALUE
At 31 January 2024 126,990
At 31 January 2023 132,142

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 113,203 117,040
Amounts recoverable on contract 11,500 12,000
Prepayments 1,200 1,200
125,903 130,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 6,213 49,967
Hire purchase contracts 31,132 15,799
Trade creditors 3,768 6,840
Tax 51,763 49,253
Social security and other taxes 19,813 6,148
VAT 40,831 78,892
Other creditors - Net Wages 20,604 20,325
Pension contributions 1,235 1,016
Directors' current accounts 65,832 873
Accrued expenses 4,000 4,000
245,191 233,113

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 2 - 1-2 years 6,213 6,213
Bank loans 2 - 2-5 years 18,639 19,981
Bank loans more 5 yr by instal 8,265 9,099
Hire purchase contracts 131,672 120,580
164,789 155,873

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,265 9,099

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdraft - 29,754
Bank loans 39,330 55,506
39,330 85,260

The Bank has a fixed and floating charge over all of the company's assets.

FLOW RIGHT SERVICES (NW) LTD (REGISTERED NUMBER: 10572648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 February 2023 1,739
Profit for the year 58,370
Dividends (34,000 )
At 31 January 2024 26,109

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company directors have provided personal guarantees, in relation to the bank loan and overdrafts.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FLOW RIGHT SERVICES (NW) LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Flow Right Services (NW) Ltd for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Flow Right Services (NW) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Flow Right Services (NW) Ltd and state those matters that we have agreed to state to the director of Flow Right Services (NW) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flow Right Services (NW) Ltd and its director for our work or for this report.

It is your duty to ensure that Flow Right Services (NW) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Flow Right Services (NW) Ltd. You consider that Flow Right Services (NW) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Flow Right Services (NW) 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 statutory financial statements.






Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ


18 October 2024