Company No:
Contents
| Directors | S Bolton |
| S Dennis | |
| A Gail | |
| A Jonas | |
| E Mita | |
| I Sanchez Rodriguez (Resigned 31 October 2024) |
| Registered office | Unit 1 |
| Zodiac Business Park | |
| High Road | |
| Cowley | |
| Uxbridge | |
| UB8 2GU | |
| United Kingdom |
| Company number | 01734709 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| 37 St Margarets Street | |
| Canterbury | |
| Kent | |
| CT1 2TU |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that Flowstore Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Flowstore Systems Limited. You consider that Flowstore Systems Limited is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Flowstore Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
Canterbury
Kent
CT1 2TU
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investments | 4 |
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| 449,805 | 516,336 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| 4,277,650 | 4,367,350 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 3,218,180 | 3,269,155 | ||
| Total assets less current liabilities | 3,667,985 | 3,785,491 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Flowstore Systems Limited (registered number:
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A Jonas
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Flowstore Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1, Zodiac Business Park, High Road, Cowley, Uxbridge, UB8 2GU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
| Land and buildings |
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| Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery etc. | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 October 2023 |
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| Additions |
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| Disposals |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||
| At 01 October 2023 |
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| Charge for the financial year |
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| Disposals |
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| At 30 September 2024 |
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| Net book value | |||||
| At 30 September 2024 |
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| At 30 September 2023 |
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| £ | £ | ||
| Subsidiary undertakings |
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| £ | £ | ||
| Trade debtors |
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| Amounts owed by own subsidiaries |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| within one year |
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| between one and five years |
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| after five years |
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Contingent liabilities
| 2024 | 2023 | ||
| £ | £ | ||
| Total contingent liabilities |
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During the year the company paid directors' remuneration under normal market conditions totalling £496,756 (2023: £460,989).
The immediate parent company is Flowstore Holdings Limited and overall controlling party is Flowstore Trustees Limited as Trustee of Flowstore Employee Ownership Trust 2017.