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REGISTERED NUMBER: 04592476 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

FlexEJ Limited

FlexEJ Limited (Registered number: 04592476)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FlexEJ Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs J S Robinson
T B Robinson





SECRETARY: Mrs J S Robinson





REGISTERED OFFICE: Mulberry House
Hamlash Lane
Farnham
Surrey
GU10 3AT





REGISTERED NUMBER: 04592476 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

FlexEJ Limited (Registered number: 04592476)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,775 72,899

CURRENT ASSETS
Stocks 342,975 371,704
Debtors 5 1,954,682 1,581,501
Cash at bank and in hand 76,476 509,993
2,374,133 2,463,198
CREDITORS
Amounts falling due within one year 6 1,593,222 1,735,174
NET CURRENT ASSETS 780,911 728,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

869,686

800,923

CREDITORS
Amounts falling due after more than one
year

7

(97,500

)

(187,500

)

PROVISIONS FOR LIABILITIES 10 (21,992 ) (13,258 )
NET ASSETS 750,194 600,165

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 750,094 600,065
SHAREHOLDERS' FUNDS 750,194 600,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FlexEJ Limited (Registered number: 04592476)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:




T B Robinson - Director



Mrs J S Robinson - Director


FlexEJ Limited (Registered number: 04592476)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

FlexEJ 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on 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.

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.

FlexEJ Limited (Registered number: 04592476)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 341,476 50,259 30,290 128,034 550,059
Additions 824 3,971 - 40,688 45,483
At 30 April 2024 342,300 54,230 30,290 168,722 595,542
DEPRECIATION
At 1 May 2023 312,547 44,098 21,748 98,767 477,160
Charge for year 7,443 2,534 2,136 17,494 29,607
At 30 April 2024 319,990 46,632 23,884 116,261 506,767
NET BOOK VALUE
At 30 April 2024 22,310 7,598 6,406 52,461 88,775
At 30 April 2023 28,929 6,161 8,542 29,267 72,899

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 316,980 289,641
Other debtors 1,637,702 1,291,860
1,954,682 1,581,501

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 163,036 202,239
Trade creditors 1,130,403 727,109
Taxation and social security 127,763 196,127
Other creditors 172,020 609,699
1,593,222 1,735,174

FlexEJ Limited (Registered number: 04592476)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 97,500 187,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 68,000 50,700
Between one and five years 260,667 -
328,667 50,700

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdrafts 73,036 112,239

National Westminster Bank Plc hold a debenture dated 21 May 2004 containing a fixed and floating charge over the undertaking and all property and assets present and future in respect of the bank loan facility.

National Westminster Bank Plc hold a charge of deposit dated 13 February 2013.

RBS Invoice Finance Limited hold a fixed and floating charge dated 30 September 2011 over the undertaking and all property and assets present and future in respect of the invoice discounting facility.

10. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 21,992 13,258

Deferred
tax
£   
Balance at 1 May 2023 13,258
Provided during year 8,734
Balance at 30 April 2024 21,992

FlexEJ Limited (Registered number: 04592476)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

Creditors (including non interest bearing loans) as at 30th April 2024 include due to MMPI Manufacturing Limited £584,009 (2023 - £78,009) and due to Sales Channel Limited £63,425 (2023 - £3,600).

Debtors (including non interest bearing loans) as at 30th April 2024 include due from MMPI Manufacturing Limited £1,341,848 (2023 - £666,144) and due from Sales Channel Limited £240,000 (2023 - £240,000).

FlexEj Limited, MMPI Manufacturing Limited, Sales Channel Limited and Precision Appointments Limited share common directors and shareholders.

13. ULTIMATE CONTROLLING PARTY

The company is under the control of its directors, Mr T Robinson and Mrs J S Robinson, as they own all of the issued share capital.