REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
FLEXX PROPERTY LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
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 |
Directors' loan accounts | 14,400 | 11,378 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Amounts owed to group undertakings |
Directors' loan accounts | 33,858 | 66,856 |
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. |