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REGISTERED NUMBER: 05018280 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 July 2024

for

Hoseflex Limited

Hoseflex Limited (Registered number: 05018280)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Hoseflex Limited

Company Information
For The Year Ended 31 July 2024







Directors: N D Bickers
M C Redgate





Registered office: Unit 9
Chamberlayne Road
Bury St Edmunds
Suffolk
IP32 7EY





Registered number: 05018280 (England and Wales)





Accountants: SMD Accounts LLP
Chartered Certified Accountants
The Vineyards
Knox Lane, Bardwell
Bury St Edmunds
Suffolk
IP31 1AX

Hoseflex Limited (Registered number: 05018280)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 374,272 330,727
374,272 330,727

Current assets
Stocks 505,575 442,511
Debtors 6 824,458 902,014
Cash at bank and in hand 11,842 42,662
1,341,875 1,387,187
Creditors
Amounts falling due within one year 7 926,174 1,099,473
Net current assets 415,701 287,714
Total assets less current liabilities 789,973 618,441

Creditors
Amounts falling due after more than one
year

8

(204,761

)

(221,899

)

Provisions for liabilities (92,871 ) (82,425 )
Net assets 492,341 314,117

Capital and reserves
Called up share capital 1 1
Retained earnings 492,340 314,116
Shareholders' funds 492,341 314,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 8 April 2025 and were signed on its behalf by:




M C Redgate - Director


Hoseflex Limited (Registered number: 05018280)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. Statutory information

Hoseflex 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.

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.

Going concern
The directors have reviewed the financial situation of the company and feel it is appropriate to prepare the financial statements on the going concern basis. The directors believe there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 4 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the duration of the lease
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Hoseflex Limited (Registered number: 05018280)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 22 (2023 - 21 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 August 2023
and 31 July 2024 50,000
Amortisation
At 1 August 2023
and 31 July 2024 50,000
Net book value
At 31 July 2024 -
At 31 July 2023 -

5. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 August 2023 34,910 631,225 666,135
Additions - 134,912 134,912
At 31 July 2024 34,910 766,137 801,047
Depreciation
At 1 August 2023 30,366 305,042 335,408
Charge for year 1,363 90,004 91,367
At 31 July 2024 31,729 395,046 426,775
Net book value
At 31 July 2024 3,181 371,091 374,272
At 31 July 2023 4,544 326,183 330,727

Hoseflex Limited (Registered number: 05018280)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 526,934 701,356
Other debtors 297,524 200,658
824,458 902,014

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 236,555 442,277
Trade creditors 379,640 393,895
Taxation and social security 123,593 59,911
Other creditors 186,386 203,390
926,174 1,099,473

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

Hire purchase obligations of £77,563 (2023: £57,665), which are included in other creditors, are secured on the underlying assets.

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 45,000 90,000
Other creditors 159,761 131,899
204,761 221,899

Hire purchase obligations of £159,761 (2023: £131,899), which are included in other creditors, are secured on the underlying assets.

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 48,868 30,706
Between one and five years 97,305 16,232
146,173 46,938

10. Directors' advances, credits and guarantees

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

2024 2023
£    £   
N D Bickers
Balance outstanding at start of year 297 1,511
Amounts repaid (297 ) (1,214 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 297