Company registration number 12988530 (England and Wales)
FLOBELL GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
FLOBELL GROUP LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
3,393,334
3,473,054
Current assets
Debtors
4
1,955,268
1,880,557
Cash at bank and in hand
16,518
41,801
1,971,786
1,922,358
Creditors: amounts falling due within one year
5
(235,643)
(178,962)
Net current assets
1,736,143
1,743,396
Total assets less current liabilities
5,129,477
5,216,450
Creditors: amounts falling due after more than one year
6
(1,752,000)
(1,752,000)
Net assets
3,377,477
3,464,450
Capital and reserves
Called up share capital
7
100
100
Other reserves
3,393,234
3,472,954
Profit and loss reserves
(15,857)
(8,604)
Total equity
3,377,477
3,464,450

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FLOBELL GROUP LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
Mr L Bellman
Director
Company registration number 12988530 (England and Wales)
FLOBELL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Flobell Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/o Sobell Rhodes LLP, Kinetic Business Centre, Theobald Street, Elstree, Hertfordshire, United Kingdom, WD6 4PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

1.2
Going concern

The accounts have been prepared assuming the going concern basis is appropriate. The directors have agreed to support the company for 12 months following the date of approval of the accounts.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

FLOBELL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,393,334
3,473,054
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023
3,473,054
Valuation changes
(79,720)
At 31 March 2024
3,393,334
Carrying amount
At 31 March 2024
3,393,334
At 31 March 2023
3,473,054
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,955,268
1,880,557
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
235,643
178,962
FLOBELL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,752,000
1,752,000

The bank loan is secured by First Legal Charge over the properties included within subsidiary companies at the end of the year.

 

A debenture over the company's assets is held by the company's bankers effective from 28 June 2021. It includes fixed and floating charges over the company and all property and assets, present and future.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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