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Registration number: 12142153

Flextnow Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Flextnow Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Flextnow Limited

Company Information

Directors

D Louw

L J Erasmus

M D Kelly

J G Kriek

Company secretary

D Louw

Registered office

Unit 4
Swan Wharf Business Centre
Waterloo Road
Uxbridge
Middlesex
UB8 2RA

Accountants

Vale & West
Chartered Accountants
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG

 

Flextnow Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Flextnow Limited

(Registration number: 12142153)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

18,771

19,501

Cash at bank and in hand

 

606

57

 

19,377

19,558

Creditors: Amounts falling due within one year

6

(231,197)

(168,700)

Net liabilities

 

(211,820)

(149,142)

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

249,750

249,750

Retained earnings

(462,570)

(399,892)

Shareholders' deficit

 

(211,820)

(149,142)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

.........................................
D Louw
Company secretary and director

 

Flextnow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The address of its registered office is:
Unit 4
Swan Wharf Business Centre
Waterloo Road
Uxbridge
Middlesex
UB8 2RA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis on the understanding that the directors and shareholder will continue to financially support the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Flextnow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Flextnow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

1,722

1,722

At 31 August 2024

1,722

1,722

Depreciation

At 1 September 2023

1,722

1,722

At 31 August 2024

1,722

1,722

Carrying amount

At 31 August 2024

-

-

5

Debtors

Current

2024
£

2023
£

Trade debtors

450

345

Other debtors

18,321

19,156

 

18,771

19,501

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,553

2,722

Taxation and social security

33,951

19,323

Other creditors

193,693

146,655

231,197

168,700