Company Registration No. 09024201 (England and Wales)
Flexgc Limited
Unaudited accounts
for the year ended 31 May 2024
Flexgc Limited
Unaudited accounts
Contents
Flexgc Limited
Statement of financial position
as at 31 May 2024
Tangible assets
40,393
53,857
Cash at bank and in hand
402,278
269,377
Creditors: amounts falling due within one year
(58,375)
(45,627)
Net current assets
360,748
239,949
Total assets less current liabilities
401,141
401,427
Provisions for liabilities
Net assets
401,141
385,616
Called up share capital
100
100
Profit and loss account
401,041
385,516
Shareholders' funds
401,141
385,616
For the year ending 31 May 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 director acknowledges his 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 and authorised for issue on 28 November 2024 and were signed on its behalf by
Timothy Jacob Harry Slotover
Director
Company Registration No. 09024201
Flexgc Limited
Notes to the Accounts
for the year ended 31 May 2024
Flexgc Limited is a private company, limited by shares, registered in England and Wales, registration number 09024201. The registered office is Suite A, 82 James Carter Road, Mildenhall, Bury St Edmunds, Suffolk, IP28 7DE, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
50% on cost
Computer equipment
50% on cost
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.
Fixed asset investments are shown at fair value at the year end.
Flexgc Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
71,810
761
1,797
74,368
At 31 May 2024
71,810
761
1,797
74,368
At 1 June 2023
17,953
761
1,797
20,511
Charge for the year
13,464
-
-
13,464
At 31 May 2024
31,417
761
1,797
33,975
At 31 May 2024
40,393
-
-
40,393
At 31 May 2023
53,857
-
-
53,857
5
Investments
Other investments
Valuation at 1 June 2023
107,621
Valuation at 31 May 2024
-
During the year, the gain on disposal of investments amounted to £15,565 (2023: £3,654). This has been included within the investment income amount on the statement of income and retained earnings.
Amounts falling due within one year
Trade debtors
16,845
15,788
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
57,626
43,527
Allotted, called up and fully paid:
50 A ordinary shares of £1 each
50
50
50 B ordinary shares of £1 each
50
50
Flexgc Limited
Notes to the Accounts
for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).