Acorah Software Products - Accounts Production 16.3.350 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 03486736 Mrs H I Gilder Mr W P Gilder R G Marsden Mrs H I Gilder iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03486736 2023-11-30 03486736 2024-11-30 03486736 2023-12-01 2024-11-30 03486736 frs-core:CurrentFinancialInstruments 2024-11-30 03486736 frs-core:Non-currentFinancialInstruments 2024-11-30 03486736 frs-core:BetweenOneFiveYears 2024-11-30 03486736 frs-core:FurnitureFittings 2023-12-01 2024-11-30 03486736 frs-core:MotorVehicles 2023-12-01 2024-11-30 03486736 frs-core:PlantMachinery 2024-11-30 03486736 frs-core:PlantMachinery 2023-12-01 2024-11-30 03486736 frs-core:PlantMachinery 2023-11-30 03486736 frs-core:WithinOneYear 2024-11-30 03486736 frs-core:ShareCapital 2024-11-30 03486736 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 03486736 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03486736 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 03486736 frs-bus:SmallEntities 2023-12-01 2024-11-30 03486736 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 03486736 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 03486736 frs-bus:Director1 2023-12-01 2024-11-30 03486736 frs-bus:Director2 2023-12-01 2024-11-30 03486736 frs-bus:Director3 2023-12-01 2024-11-30 03486736 frs-bus:CompanySecretary1 2023-12-01 2024-11-30 03486736 frs-countries:EnglandWales 2023-12-01 2024-11-30 03486736 2022-11-30 03486736 2023-11-30 03486736 2022-12-01 2023-11-30 03486736 frs-core:CurrentFinancialInstruments 2023-11-30 03486736 frs-core:Non-currentFinancialInstruments 2023-11-30 03486736 frs-core:BetweenOneFiveYears 2023-11-30 03486736 frs-core:WithinOneYear 2023-11-30 03486736 frs-core:ShareCapital 2023-11-30 03486736 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 03486736
Flextraction Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03486736
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 755 1,669
755 1,669
CURRENT ASSETS
Stocks 437,983 346,140
Debtors 5 362,302 128,635
Cash at bank and in hand 2,828 6,622
803,113 481,397
Creditors: Amounts Falling Due Within One Year 6 (718,860 ) (456,804 )
NET CURRENT ASSETS (LIABILITIES) 84,253 24,593
TOTAL ASSETS LESS CURRENT LIABILITIES 85,008 26,262
Creditors: Amounts Falling Due After More Than One Year 7 (46,361 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (189 ) (417 )
NET ASSETS 38,458 25,845
CAPITAL AND RESERVES
Called up share capital 9 170 170
Profit and Loss Account 38,288 25,675
SHAREHOLDERS' FUNDS 38,458 25,845
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr W P Gilder
Director
22/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Flextraction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03486736 . The registered office is 10 Digby Drive, Leicester Rd Ind. Est, Melton Mowbray, Leicestershire, LE13 0RQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% p.a. straight line basis
Fixtures & Fittings 10 - 25% p.a. straight line basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Clasification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic Financial Liabilities
...CONTINUED
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2.5. Financial Instruments - continued
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Fixed Asset Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
2.10. Factored Debts
Although debts are legally transferred to the factors, the company retains the benefits and risks. Thus, in accordance with FRS102 seperate presentation is adopted with debts included in bank loans and overdrafts.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 14)
13 14
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 December 2023 87,514
As at 30 November 2024 87,514
Depreciation
As at 1 December 2023 85,845
Provided during the period 914
As at 30 November 2024 86,759
Net Book Value
As at 30 November 2024 755
As at 1 December 2023 1,669
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 331,907 106,530
Other debtors 30,395 22,105
362,302 128,635
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 228,947 195,376
Bank loans and overdrafts 303,095 192,796
Other loans 36,192 -
Other creditors 57,297 14,069
Taxation and social security 93,329 54,563
718,860 456,804
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 46,361 -
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8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The bank overdraft is secured by way of a mortgage debenture over all freehold and leasehold properties and a fixed and floating charge over all properties and assets.
The factored debts with Lloyds TSB Commercial Finance are secured by way of a fixed and floating charge over the undertaking and all property and assets. 
2024 2023
£ £
Bank loans and overdrafts 303,095 192,796
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 170 170
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 19,182 24,138
Later than one year and not later than five years 5,390 36,603
24,572 60,741
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