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REGISTERED NUMBER: 12655032 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

FLEXX PROPERTY LTD

FLEXX PROPERTY LTD (REGISTERED NUMBER: 12655032)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FLEXX PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs E R Wardrope
D Wardrope





REGISTERED OFFICE: Unit 1 Amber House
22 St. Johns Road
Hove
East Sussex
BN3 2EZ





REGISTERED NUMBER: 12655032 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

FLEXX PROPERTY LTD (REGISTERED NUMBER: 12655032)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 957,200 699,910

CURRENT ASSETS
Debtors 5 13,823 62,021
Cash at bank 4,599 113,134
18,422 175,155
CREDITORS
Amounts falling due within one year 6 15,435 12,098
NET CURRENT ASSETS 2,987 163,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

960,187

862,967

CREDITORS
Amounts falling due after more than one
year

7

683,262

594,715
NET ASSETS 276,925 268,252

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 276,875 268,202
276,925 268,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





D Wardrope - Director


FLEXX PROPERTY LTD (REGISTERED NUMBER: 12655032)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Flexx Property Ltd 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Turnover
Turnover represents the following types of income:

- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 699,910
Additions 257,290
At 30 June 2024 957,200
NET BOOK VALUE
At 30 June 2024 957,200
At 30 June 2023 699,910

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 13,823 62,021

FLEXX PROPERTY LTD (REGISTERED NUMBER: 12655032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 243 -
Directors' loan accounts 14,400 11,378
Accrued expenses 792 720
15,435 12,098

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 182,039 202,214
Amounts owed to group undertakings 467,365 325,645
Directors' loan accounts 33,858 66,856
683,262 594,715

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mr Wardrope increased his loan into the company. As at 30 June 2024, the company owed him £48,258 (2023: £78,234). This balance represented the maximum amount outstanding during the year, is interest free and £14,400 of the balance is repayable on demand. The remaining balance is repayable over one year.

9. RELATED PARTY DISCLOSURES

Flexx Digital Ltd
During the year, Flexx Digital Ltd maintained their loan to the company. As at 30 June 2024, Flexx Property Ltd owed Flexx Digital Ltd £5,010 (2023: £5,010). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

Flexxable Ltd
During the year, Flexxable Ltd increased their loan to the company. As at 30 June 2024, Flexx Property Ltd owed Flexxable Ltd £84,391 (2023: £22,671). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

Flexx Holdings Ltd
During the year, Flexx Holdings Ltd increased their loan to the company. As at 30 June 2024, Flexx Property Ltd owed Flexx Holdings Ltd £377,964 (2023: £297,964). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is D Wardrope.

This was by virtue of his 100% holding of the issued share capital.