Company registration number 07857307 (England and Wales)
FLASH V-ONE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
FLASH V-ONE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FLASH V-ONE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
153,938
175,670
Tangible assets
5
449
2,555
154,387
178,225
Current assets
Debtors
6
625,992
459,923
Cash at bank and in hand
289,621
358,223
915,613
818,146
Creditors: amounts falling due within one year
7
(992,443)
(757,448)
Net current (liabilities)/assets
(76,830)
60,698
Net assets
77,557
238,923
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
77,556
238,922
Total equity
77,557
238,923

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

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

The financial statements were approved and signed by the director and authorised for issue on 30 June 2025
P R Higelin
Director
Company Registration No. 07857307
FLASH V-ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Flash V-One Limited is a private company limited by shares incorporated in England and Wales. The registered office is Manchester International Office Centre, Suite 15a, Styal Road, Manchester, United Kingdom, M22 5WB.

1.1
Accounting convention

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 a mounts 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.

1.2
Going concern

Whilst general trading will always remain competitive, the expansion of the customer base true and maintaining a lean cost base helps manage any exposure to a downturn in any one area. The Board of Directors continually reviews market conditions to assess both risks and opportunities that the company faces.

The management team have prepared long term forecasts for the wider group and consider that within 12 months of the date of approval of the financial statements, the company is able to trade as a going concern.

The director believes the company's cashflow will enable it to meet its liabilities as they fall due. The wider group has also confirmed it is willing and able to continue to financially support this company, should it be necessary, in order for the company to remain a going concern during this period.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for freight services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of freight services is recognised when the right to receive income is established.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting date.

1.5
Tangible fixed assets

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

FLASH V-ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% straight line
Computer equipment
20% straight line
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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 assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

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

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 at transaction price.

1.9
Equity instruments

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

FLASH V-ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful life of goodwill

Goodwill is amortised over its useful economic life, which was determined by the directors when the goodwill was created in 2012. The directors consider this useful economic life to remain reasonable and that no provision for impairment is required. This will be reviewed on a regular basis and adjustments made if they are considered necessary in the future.

3
Employees

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

2024
2023
Number
Number
Total
7
7
FLASH V-ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
434,647
Amortisation and impairment
At 1 January 2024
258,977
Amortisation charged for the year
21,732
At 31 December 2024
280,709
Carrying amount
At 31 December 2024
153,938
At 31 December 2023
175,670

The carrying amount of this asset is £153,938 (2023 - £175,670) and the remaining amortisation period is 7 years.

5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
35,597
Depreciation and impairment
At 1 January 2024
33,042
Depreciation charged in the year
2,106
At 31 December 2024
35,148
Carrying amount
At 31 December 2024
449
At 31 December 2023
2,555
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
350,558
339,081
Amounts owed by group undertakings
123,042
16,645
Other debtors
152,392
104,197
625,992
459,923
FLASH V-ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
188,183
193,253
Amounts owed to group undertakings
645,551
195,759
Other creditors
158,709
368,436
992,443
757,448
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jonathan Ward
Statutory Auditor:
Azets Audit Services
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
384
17,500
10
Related party transactions

Summary of transactions with other related parties

During the year the company was charged management fees and incurred other recharges by fellow group companies.

At the balance sheet date, the amount accrued within other creditors was £30,795 (2023 - £185,767), in respect of these charges.

Transactions with group undertakings are subject to a group transfer pricing policy which is designed to ensure these transactions are carried out on an arms length basis.

11
Parent company

The company's immediate parent is Redspher SA, incorporated in Luxembourg.

The ultimate parent company is Financiere Redspher SAS, incorporated in France.

The most senior parent entity producing publicly available financial statements is Financiere Redspher SAS. These financial statements are available upon request from the company's registered office.

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