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REGISTERED NUMBER: 02772380 (England and Wales)















Financial Statements

for the Period 1 April 2024 to 31 December 2024

for

Flextel Limited

Flextel Limited (Registered number: 02772380)






Contents of the Financial Statements
for the Period 1 April 2024 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Flextel Limited

Company Information
for the Period 1 April 2024 to 31 December 2024







DIRECTORS: A J Blackburn
S P McAteer





SECRETARY: C Powell





REGISTERED OFFICE: Unit 142 Imperial Court
Exchange Street East
Liverpool
L2 3AB





REGISTERED NUMBER: 02772380 (England and Wales)





AUDITORS: Voisey & Co LLP
8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW

Flextel Limited (Registered number: 02772380)

Balance Sheet
31 December 2024

31.12.24 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,600 10,005

CURRENT ASSETS
Debtors 5 28,397 85,287
Cash at bank 75,067 172,461
103,464 257,748
CREDITORS
Amounts falling due within one year 6 76,639 102,766
NET CURRENT ASSETS 26,825 154,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,425

164,987

PROVISIONS FOR LIABILITIES 1,650 2,501
NET ASSETS 31,775 162,486

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 8 30,775 161,486
SHAREHOLDERS' FUNDS 31,775 162,486

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 31 July 2025 and were signed on its behalf by:





S P McAteer - Director


Flextel Limited (Registered number: 02772380)

Notes to the Financial Statements
for the Period 1 April 2024 to 31 December 2024

1. STATUTORY INFORMATION

Flextel 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements shall be rounded to the nearest £.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Management do not consider the company to have any critical accounting judgements or key sources of estimation uncertainty at the reporting date which may have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the provision of other telecommunication activities is recognised as it is earned on a periodic basis over the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer and office equipment - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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 the profit and loss.


Flextel Limited (Registered number: 02772380)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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.

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 period 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.

Foreign currencies
Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

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 scheme. The amount charged to the profit and loss account in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Flextel Limited (Registered number: 02772380)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

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 statement of financial position 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 net asset and settle the liability simultaneously.

Basic financial assets
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 costs 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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Flextel Limited (Registered number: 02772380)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

2. ACCOUNTING POLICIES - continued

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification 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, 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 receipts 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2024 - 4 ) .

Flextel Limited (Registered number: 02772380)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

4. TANGIBLE FIXED ASSETS
Computer
and
Plant and office
machinery equipment Totals
£    £    £   
COST
At 1 April 2024 92,351 33,325 125,676
Disposals (92,351 ) (18,502 ) (110,853 )
At 31 December 2024 - 14,823 14,823
DEPRECIATION
At 1 April 2024 91,767 23,904 115,671
Charge for period 146 2,355 2,501
Eliminated on disposal (91,913 ) (18,036 ) (109,949 )
At 31 December 2024 - 8,223 8,223
NET BOOK VALUE
At 31 December 2024 - 6,600 6,600
At 31 March 2024 584 9,421 10,005

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.3.24
£    £   
Trade debtors 28,397 84,498
Prepayments - 789
28,397 85,287

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.3.24
£    £   
Trade creditors 434 7,260
Tax 11,724 41,597
Social security and other taxes - 4,338
VAT 21,488 29,203
Other creditors 25,000 -
Accruals and deferred income 17,993 20,368
76,639 102,766

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.3.24
value: £    £   
1,000 Ordinary £1 1,000 1,000

Flextel Limited (Registered number: 02772380)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

7. CALLED UP SHARE CAPITAL - continued

On the 28th October 2024, the entire share capital of the company was acquired by Voix Telecom Limited.

8. RESERVES
Retained
earnings
£   

At 1 April 2024 161,486
Profit for the period 69,289
Dividends (200,000 )
At 31 December 2024 30,775

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
The prior year accounts of Flextel Limited were not required to have an audit, we have been unable to obtain sufficient appropriate audit evidence about the opening balances of Flextel Limited as at 31st March 2024. Consequently we are unable to determine whether the opening balances contain misstatements that materially affect the financial statements, that they have been correctly brought forward or that any adjustments to these amounts are necessary

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report below. We are independent fo the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Janine Boyo FCA MAAT (Senior Statutory Auditor)
for and on behalf of Voisey & Co LLP

10. ULTIMATE CONTROLLING PARTY

The immediate parent company is Voix Telecom Limited, a company registered in England and Wales.

The ultimate parent company is The Investigo Group Limited is a company registered in England and Wales. The financial statements of the company are consolidated in the financial statements of The Investigo Group Limited. These consolidated financial statements are available from its registered office, Unit 116 Imperial Court, Exchange Street East, Liverpool, Merseyside, L2 3AB.

There is no ultimate controlling party.