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FLEXIPHARM AUSTRADING LIMITED

Registered Number
11368401
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

FLEXIPHARM AUSTRADING LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Michael Clark
Andre Vlok

Registered Address

A T I House
6 Boston Drive
Bourne End
SL8 5YS

Registered Number

11368401 (England and Wales)
FLEXIPHARM AUSTRADING LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets47,9588,312
7,9588,312
Current assets
Stocks5850,1261,198,302
Debtors61,057,649734,679
Cash at bank and on hand1,139,699819,543
3,047,4742,752,524
Creditors amounts falling due within one year7(1,913,658)(1,832,270)
Net current assets (liabilities)1,133,816920,254
Total assets less current liabilities1,141,774928,566
Net assets1,141,774928,566
Capital and reserves
Called up share capital100100
Profit and loss account1,141,674928,466
Shareholders' funds1,141,774928,566
The financial statements were approved and authorised for issue by the Board of Directors on 19 February 2025, and are signed on its behalf by:
Michael Clark
Director
Registered Company No. 11368401
FLEXIPHARM AUSTRADING LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts, rebates and Value Added Tax.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. The estimated useful economic lives are as follows:

Straight line (years)
Office Equipment2
Stocks and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition, and are stated after any provision for potential write-offs.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.Staff Costs
The aggregate payroll costs incurred during the year were: 2024 2023 £ £ Wages and salaries 180,000 180,000 Social security costs 23,584 19,554 ________ ________ 203,584 199,554 ________ ________
3.Average number of employees

20242023
Average number of employees during the year11
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2418,77318,773
Additions8,2458,245
Disposals(1,802)(1,802)
At 31 December 2425,21625,216
Depreciation and impairment
At 01 January 2410,46110,461
Charge for year8,1728,172
On disposals(1,375)(1,375)
At 31 December 2417,25817,258
Net book value
At 31 December 247,9587,958
At 31 December 238,3128,312
5.Stocks
Stocks represent finished goods less provision for potential write-offs.

2024

2023

££
Finished goods850,1261,198,302
Total850,1261,198,302
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables991,893722,545
Other debtors4,0844,084
Prepayments and accrued income61,6728,050
Total1,057,649734,679
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,423,0011,373,266
Taxation and social security484,011441,351
Other creditors4,646-
Accrued liabilities and deferred income2,00017,653
Total1,913,6581,832,270
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Related party transactions
During the year the company entered into the following transactions with related parties: Transaction value (net) Balance owed by/( to) 2024 2023 2024 2023 £ £ £ £ Phebra Holdings Pty Limited 1,660,739 976,254 (696,157) (215,670)