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REGISTERED NUMBER: 08026729 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FLEXI COVENTRY LIMITED

FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FLEXI COVENTRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: F Marufu





REGISTERED OFFICE: 34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG





REGISTERED NUMBER: 08026729 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 813,794 785,002

CURRENT ASSETS
Stocks 52,000 52,000
Debtors 5 698,238 666,113
Cash at bank 19,836 15,077
770,074 733,190
CREDITORS
Amounts falling due within one year 6 370,743 497,904
NET CURRENT ASSETS 399,331 235,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,213,125

1,020,288

CREDITORS
Amounts falling due after more than one
year

7

340,753

358,519
NET ASSETS 872,372 661,769

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 872,370 661,767
SHAREHOLDERS' FUNDS 872,372 661,769

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 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.

FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 28 October 2024 and were signed by:





F Marufu - Director


FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)

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

1. STATUTORY INFORMATION

Flexi Coventry 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

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 34 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 755,074 120,786 875,860
Additions 32,480 5,186 37,666
At 31 March 2024 787,554 125,972 913,526
DEPRECIATION
At 1 April 2023 - 90,858 90,858
Charge for year - 8,874 8,874
At 31 March 2024 - 99,732 99,732
NET BOOK VALUE
At 31 March 2024 787,554 26,240 813,794
At 31 March 2023 755,074 29,928 785,002

FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)

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

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 58,245
DEPRECIATION
At 1 April 2023 44,426
Charge for year 3,455
At 31 March 2024 47,881
NET BOOK VALUE
At 31 March 2024 10,364
At 31 March 2023 13,819

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 98,416 113,428
Amounts owed by associates 60,335 59,040
Other debtors 539,487 493,645
698,238 666,113

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,414 20,415
Hire purchase contracts 15,303 25,992
Trade creditors 12,675 7,267
Taxation and social security 216,485 344,588
Other creditors 105,866 99,642
370,743 497,904

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 340,753 358,519

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 259,097 276,863

FLEXI COVENTRY LIMITED (REGISTERED NUMBER: 08026729)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 361,167 378,934
Hire purchase contracts 15,303 25,992
376,470 404,926

Hire purchase creditors are secured by a charge over the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1.00 2 2

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
F Marufu
Balance outstanding at start of year 399,681 400,604
Amounts advanced 259,841 213,077
Amounts repaid (214,000 ) (214,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 445,522 399,681