REGISTERED NUMBER: 02058529 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FLEXEL (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Bridge

S M Bridge

J A Bridge

M D Proctor

SECRETARY:

S M Bridge

REGISTERED OFFICE:

Central House

Top Station Road

Brackley

Northamptonshire

NN13 7UG

REGISTERED NUMBER:

02058529 (England and Wales)

ACCOUNTANTS:

Astral Accountancy Services Limited

Astral House

Granville Way

Bicester

Oxfordshire

OX26 4JT

FIXED ASSETS

Tangible assets

4

911,411

924,601

Investments

5

7,500

7,500

918,911

932,101

CURRENT ASSETS

Stocks

712,167

514,788

Debtors

6

496,008

389,295

Cash at bank and in hand

8,955

5,969

1,217,130

910,052

CREDITORS

Amounts falling due within one year

7

1,028,315

740,772

NET CURRENT ASSETS

188,815

169,280

TOTAL ASSETS LESS CURRENT LIABILITIES

1,107,726

1,101,381

CREDITORS

Amounts falling due after more than one year

8

(86,278

)

(134,985

)

PROVISIONS FOR LIABILITIES

(5,025

)

(2,691

)

NET ASSETS

1,016,423

963,705

CAPITAL AND RESERVES

Called up share capital

10

1,600

1,600

Capital redemption reserve

11

2,000

2,000

Retained earnings

11

1,012,823

960,105

SHAREHOLDERS' FUNDS

1,016,423

963,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

R J Bridge - Director

J A Bridge - Director

1.	STATUTORY INFORMATION

Flexel (UK) 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.

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.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold land

- none provided

Freehold buildings

- 2% on cost

Plant and machinery

- 20% on reducing balance

Office equipment and furniture

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Depreciation is calculated using the rates above from the date of acquisition. Some assets have been depreciated further than the generally applicable rates to reflect a true and fair carrying value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.

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

Rentals paid under operating leases are charged to the profit and loss account 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 15 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

Freehold

Plant and

and

Motor

property

machinery

furniture

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

1,236,417

313,744

71,440

17,199

1,638,800

Additions

-

15,995

-

-

15,995

At 31 March 2025

1,236,417

329,739

71,440

17,199

1,654,795

DEPRECIATION

At 1 April 2024

340,415

291,876

64,865

17,043

714,199

Charge for year

19,929

7,573

1,644

39

29,185

At 31 March 2025

360,344

299,449

66,509

17,082

743,384

NET BOOK VALUE

At 31 March 2025

876,073

30,290

4,931

117

911,411

At 31 March 2024

896,002

21,868

6,575

156

924,601

Included in cost of land and buildings is freehold land of £ 240,000 (2024 - £ 240,000 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

7,500

NET BOOK VALUE

At 31 March 2025

7,500

At 31 March 2024

7,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

441,775

336,538

Other debtors

54,233

52,757

496,008

389,295

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

360,110

121,200

Trade creditors

268,068

212,761

Tax

82,630

80,634

Social security and other taxes

16,142

16,301

VAT

76,800

90,033

Financing creditor

219,765

215,343

Accruals and deferred income

4,800

4,500

1,028,315

740,772

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank and other loans

86,278

134,985

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank and other loans

143,723

237,247

Financing creditor

219,765

215,343

363,488

452,590

Obligations under hire purchase contracts are secured over the assets to which they relate. Other loans are secured by a charge against the company's freehold property. The financing creditor is secured against the trade debts of the company to a limit of £400,000.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary A

£1

1,000

1,000

500

Ordinary B

£1

500

500

100

Ordinary C

£1

100

100

1,600

1,600

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2024

960,105

2,000

962,105

Profit for the year

251,798

251,798

Dividends

(199,080

)

(199,080

)

At 31 March 2025

1,012,823

2,000

1,014,823

12.	RELATED PARTY DISCLOSURES

During the year, the company traded with Flexel (Europe) Limited, a subsidiary company.

During the year, total costs incurred by Flexel (UK) Limited and subsequently recharged to Flexel (Europe) Limited amounted to £3,000 (2023: £3,000).

As at 31 March 2024 an amount of £2,607 (2023: £5,348) was owed to Flexel (UK) Limited. This amount represents £2,607 included within trade debtors.