Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsethat of a community pharmacy.68false 01566682 2023-07-01 2024-06-30 01566682 2022-05-04 2023-06-30 01566682 2024-06-30 01566682 2023-06-30 01566682 c:Director1 2023-07-01 2024-06-30 01566682 c:Director2 2023-07-01 2024-06-30 01566682 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 01566682 d:Buildings d:ShortLeaseholdAssets 2024-06-30 01566682 d:Buildings d:ShortLeaseholdAssets 2023-06-30 01566682 d:FurnitureFittings 2023-07-01 2024-06-30 01566682 d:FurnitureFittings 2024-06-30 01566682 d:FurnitureFittings 2023-06-30 01566682 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01566682 d:OfficeEquipment 2023-07-01 2024-06-30 01566682 d:OfficeEquipment 2024-06-30 01566682 d:OfficeEquipment 2023-06-30 01566682 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01566682 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01566682 d:Goodwill 2023-07-01 2024-06-30 01566682 d:Goodwill 2024-06-30 01566682 d:Goodwill 2023-06-30 01566682 d:CurrentFinancialInstruments 2024-06-30 01566682 d:CurrentFinancialInstruments 2023-06-30 01566682 d:Non-currentFinancialInstruments 2024-06-30 01566682 d:Non-currentFinancialInstruments 2023-06-30 01566682 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01566682 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01566682 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 01566682 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 01566682 d:ShareCapital 2024-06-30 01566682 d:ShareCapital 2023-06-30 01566682 d:RetainedEarningsAccumulatedLosses 2024-06-30 01566682 d:RetainedEarningsAccumulatedLosses 2023-06-30 01566682 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 01566682 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 01566682 c:FRS102 2023-07-01 2024-06-30 01566682 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 01566682 c:FullAccounts 2023-07-01 2024-06-30 01566682 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01566682 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 01566682










FLINTCHOICE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
FLINTCHOICE LIMITED
REGISTERED NUMBER: 01566682

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
182,805
8,004

  
182,805
8,004

Current assets
  

Stocks
  
76,540
87,976

Debtors: amounts falling due within one year
 6 
460,190
402,952

Cash at bank and in hand
  
31,345
42,079

  
568,075
533,007

Creditors: amounts falling due within one year
 7 
(298,367)
(218,448)

Net current assets
  
 
 
269,708
 
 
314,559

Total assets less current liabilities
  
452,513
322,563

Creditors: amounts falling due after more than one year
  
(168,539)
-

Provisions for liabilities
  

Deferred tax
 9 
(33,696)
(747)

  
 
 
(33,696)
 
 
(747)

Net assets
  
250,278
321,816


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
240,278
311,816

  
250,278
321,816


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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

Page 1

 
FLINTCHOICE LIMITED
REGISTERED NUMBER: 01566682
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 February 2025.




Mrs S Davda
Mr M Shah
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Flintchoice Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 01566682. The address of the registered office is Bliss Chemist, 50-56 Willesden Lane, London, NW6 7SX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
7
years straight line

Page 5

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

The estimated useful lives range as follows:

Short-term leasehold property
-
15
years straight line
Fixtures and fittings
-
20
% reducing balance
Office equipment
-
20
% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2023 - 8).


4.


Intangible assets



Goodwill

£



Cost


At 1 July 2023
117,481



At 30 June 2024

117,481



Amortisation


At 1 July 2023
117,481



At 30 June 2024

117,481



Net book value



At 30 June 2024
-



Page 7

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
6,382
77,600
6,323
90,305


Additions
-
219,562
-
219,562



At 30 June 2024

6,382
297,162
6,323
309,867



Depreciation


At 1 July 2023
496
76,903
4,902
82,301


Charge for the period on owned assets
425
44,052
284
44,761



At 30 June 2024

921
120,955
5,186
127,062



Net book value



At 30 June 2024
5,461
176,207
1,137
182,805


6.


Debtors

2024
2023
£
£


Trade debtors
59,184
60,931

Amounts owed by group undertakings
349,307
281,152

VAT repayable
26,993
16,462

Prepayments
24,706
44,407

460,190
402,952


Page 8

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
28,823
-

Trade creditors
128,592
143,024

Amounts owed to group undertakings
126,316
70,000

Director's loan account
6,380
3,223

Other taxation and social security
7,691
1,602

Pension payable
565
599

298,367
218,448


Bank loans are secured by a fixed and floating charge over the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
168,539
-

168,539
-


Bank loans are secured by a fixed and floating charge over the assets of the company.


9.


Deferred taxation




2024


£






At beginning of year
(747)


Charged to profit or loss
(32,948)



At end of year
(33,695)

Page 9

 
FLINTCHOICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(33,695)
(747)

(33,695)
(747)


10.


Controlling party

Allchin Holdings Limited owns 100% of the share capital in Flintchoice Limited. There is no ultimate controlling party.
 
Page 10