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Registered number: 10676531










FLEX CONNECTORS HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
FLEX CONNECTORS HOLDINGS LIMITED
REGISTERED NUMBER: 10676531

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
866,208
886,430

Investments
 5 
101,150
101,150

  
967,358
987,580

Current assets
  

Debtors: amounts falling due within one year
 6 
98,030
57,413

Cash at bank and in hand
 7 
233,342
136,144

Current liabilities
  
331,372
193,557

Creditors: amounts falling due within one year
 8 
(101,987)
(82,385)

Net current assets
  
 
 
229,385
 
 
111,172

Total assets less current liabilities
  
1,196,743
1,098,752

  

Net assets
  
1,196,743
1,098,752


Capital and reserves
  

Called up share capital 
 10 
88,400
88,400

Capital redemption reserve
  
10,000
10,000

Profit and loss account
  
1,098,343
1,000,352

  
1,196,743
1,098,752


Page 1

 
FLEX CONNECTORS HOLDINGS LIMITED
REGISTERED NUMBER: 10676531

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

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 year 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.

The Company has opted not to file the statement of comprehensive income 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 by: 




S Garton
Director

Date: 15 April 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
FLEX CONNECTORS HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 August 2022
88,400
10,000
995,073
1,093,473


Comprehensive income for the year

Profit for the year
-
-
665,979
665,979

Dividends: Equity capital
-
-
(660,700)
(660,700)



At 1 August 2023
88,400
10,000
1,000,352
1,098,752



Profit for the year
-
-
1,225,921
1,225,921

Dividends: Equity capital
-
-
(1,127,930)
(1,127,930)


At 31 July 2024
88,400
10,000
1,098,343
1,196,743


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
FLEX CONNECTORS HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Flex Connectors Holdings Limited is a private company limited by share capital and incorporated in England and Wales. The address of its registered office and principle place of business is disclosed on the company information page.

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 relates to rents receivable on an accruals basis. 

 
2.3

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.

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line

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.

Page 4

 
FLEX CONNECTORS HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

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.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
FLEX CONNECTORS HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 August 2023
1,007,970



At 31 July 2024

1,007,970



Depreciation


At 1 August 2023
121,540


Charge for the year on owned assets
20,222



At 31 July 2024

141,762



Net book value



At 31 July 2024
866,208



At 31 July 2023
886,430

Page 6

 
FLEX CONNECTORS HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
101,150



At 31 July 2024
101,150





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Flex7 Limited
England and Wales
Ordinary
100%
Quickwire Limited
England and Wales
Ordinary
75%

The aggregate of the share capital and reserves as at 31 July 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Flex7 Limited
3,860,275
1,139,324

Quickwire Limited

(1,937,008)
(266,503)


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
78,900
42,973

Deferred taxation
19,130
14,440

98,030
57,413


Page 7

 
FLEX CONNECTORS HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
233,342
136,144



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
29,731

Corporation tax
36,925
-

Other taxation and social security
7,200
7,200

Other creditors
56,062
43,654

Accruals and deferred income
1,800
1,800

101,987
82,385



9.


Deferred taxation




2024


£






At beginning of year
14,440


Charged to profit or loss
4,690



At end of year
19,130

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed asset timing differences
19,130
14,440

19,130
14,440

Page 8

 
FLEX CONNECTORS HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) A Ordinary shares of £1.00 each
200
200
88,200 (2023 - 88,200) B Ordinary shares of £1.00 each
88,200
88,200

88,400

88,400



11.


Related party transactions

At the year end the company was owed £78,900 (2023: £42,974) from Flex7 Limited, a subidiary. The amount is interest free and repayable on demand.
At the year end the company owed £nil (2023: £29,731) to Quickwire Limited, a subsidiary.


12.


Controlling party

Flex Connectors Holdings Limited is controlled by S Garton and A Garton by virtue of their joint shareholding.


Page 9