REGISTERED NUMBER: 07056556 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FLEXTECH HOSE SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G V Shaw

M Robinson

G S White

REGISTERED OFFICE:

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

REGISTERED NUMBER:

07056556 (England and Wales)

ACCOUNTANTS:

Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

FIXED ASSETS

Tangible assets

4

274,334

277,274

CURRENT ASSETS

Stocks

588,777

672,599

Debtors

5

1,171,611

1,064,172

Cash at bank and in hand

375,618

170,858

2,136,006

1,907,629

CREDITORS

Amounts falling due within one year

6

1,384,342

1,231,884

NET CURRENT ASSETS

751,664

675,745

TOTAL ASSETS LESS CURRENT LIABILITIES

1,025,998

953,019

CREDITORS

Amounts falling due after more than one year

7

(124,926

)

(142,573

)

PROVISIONS FOR LIABILITIES

(16,482

)

(22,621

)

NET ASSETS

884,590

787,825

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

884,490

787,725

SHAREHOLDERS' FUNDS

884,590

787,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:

G V Shaw - Director

1.	STATUTORY INFORMATION

Flextech Hose Solutions Limited is a private company limited by shares, incorporated in England and Wales. The registered number is 07056556 and the registered office is 946 Yeovil Road, Slough Trading Estate, Slough, Berkshire, SL1 4NH.

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 and on a going concern basis.

Turnover

Turnover is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Turnover Recognition

Turnover is recognised on the sale of goods when the goods are delivered and title has passed, and is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property - 10% reducing balance

Plant and machinery - 10% to 30% reducing balance

Furniture and fittings - 25% reducing balance

Motor vehicles - 25% reducing balance

Computer equipment - 25% reducing balance

Stocks

Stocks are measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated on a first in, first out basis and includes all costs to purchase, and other costs incurred in bringing the inventories to their present location and condition. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

35,821

285,610

58,462

Additions

-

-

-

Disposals

-

-

-

At 31 December 2024

35,821

285,610

58,462

DEPRECIATION

At 1 January 2024

21,019

173,547

41,451

Charge for year

1,481

28,016

4,253

Eliminated on disposal

-

-

-

At 31 December 2024

22,500

201,563

45,704

NET BOOK VALUE

At 31 December 2024

13,321

84,047

12,758

At 31 December 2023

14,802

112,063

17,011

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

212,236

92,245

684,374

Additions

80,499

1,339

81,838

Disposals

(16,990

)

-

(16,990

)

At 31 December 2024

275,745

93,584

749,222

DEPRECIATION

At 1 January 2024

120,592

50,491

407,100

Charge for year

37,865

10,706

82,321

Eliminated on disposal

(14,533

)

-

(14,533

)

At 31 December 2024

143,924

61,197

474,888

NET BOOK VALUE

At 31 December 2024

131,821

32,387

274,334

At 31 December 2023

91,644

41,754

277,274

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

145,221

212,236

357,457

Additions

-

80,499

80,499

Disposals

-

(16,990

)

(16,990

)

At 31 December 2024

145,221

275,745

420,966

DEPRECIATION

At 1 January 2024

106,387

120,592

226,979

Charge for year

6,721

37,865

44,586

Eliminated on disposal

-

(14,533

)

(14,533

)

At 31 December 2024

113,108

143,924

257,032

NET BOOK VALUE

At 31 December 2024

32,113

131,821

163,934

At 31 December 2023

38,834

91,644

130,478

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

563,159

541,457

Other debtors

286,450

205,355

849,609

746,812

Amounts falling due after more than one year:

Other debtors

322,002

317,360

Aggregate amounts

1,171,611

1,064,172

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

35,491

35,492

Hire purchase contracts

55,249

58,071

Trade creditors

624,252

381,577

Taxation and social security

163,115

149,774

Other creditors

506,235

606,970

1,384,342

1,231,884

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

31,195

67,596

Hire purchase contracts

93,731

74,977

124,926

142,573

8.	SECURED DEBTS

Barclays Bank hold a fixed and floating charge over all the property or undertaking of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Director 1

Balance outstanding at start of year

65

-

Amounts advanced

-

65

Amounts repaid

(65

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

65

10.	RELATED PARTY DISCLOSURES

During the year, the company made advances of £54,881 (2023: £22,400) to Tetraflex Limited, a company in which a director has a controlling interest.

During the year, the company made advances of £4,648 (2023: £13,417) to Flex Metallic Industries Limited, a company in which a director has a controlling interest.

The loans were interest free and repayable on demand.