Company registration number 08402557 (England and Wales)
FLEAR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
FLEAR LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
FLEAR LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
428,254
459,719
Current assets
Debtors
4
388,838
437,651
Cash at bank and in hand
7,560
9,337
396,398
446,988
Creditors: amounts falling due within one year
5
(138,645)
(157,918)
Net current assets
257,753
289,070
Total assets less current liabilities
686,007
748,789
Creditors: amounts falling due after more than one year
6
(614,893)
(701,145)
Provisions for liabilities
(8,898)
(1,442)
Net assets
62,216
46,202
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
62,116
46,102
Total equity
62,216
46,202
FLEAR LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 August 2025 and are signed on its behalf by:
Mr B J A Fawcett
Director
Company registration number 08402557 (England and Wales)
FLEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Flear Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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, modified to include the listed investments at fair value. The principal accounting policies adopted are set out below.

Group accounts

 

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.

1.2
Turnover

Turnover represents amounts receivable for management services rendered.

1.3
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.

 

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

FLEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2
2
Other investments other than loans
428,252
459,717
428,254
459,719
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2024
2
459,717
459,719
Additions
-
6,317
6,317
Valuation changes
-
21,865
21,865
Disposals
-
(59,647)
(59,647)
At 31 December 2024
2
428,252
428,254
Carrying amount
At 31 December 2024
2
428,252
428,254
At 31 December 2023
2
459,717
459,719
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
383,238
427,411
Other debtors
5,600
10,240
388,838
437,651
FLEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
64,237
66,551
Taxation and social security
13
14
Other creditors
74,395
91,353
138,645
157,918
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
614,893
701,145
Creditors which fall due after five years are payable as follows:
Payable by instalments
330,839
406,113

The loans are secured on the assets and undertakings of this company and its subsidiary company, Midway Leisure Limited.

7
Non-distributable profits reserve

As at the balance sheet date, the non-distributable profits reserve stood at £28,194 (2023: £4,327).

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