FLIPSTOCK LTD


Director	PATEL, Irfaan Murad Ali


Registered Address	1205 Aster House North Wharf Road
	London
	W2 1EZ


Registered Number	08221949 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		8,360		8,360
Tangible assets	4		52,080		4,520
			60,440		12,880
Current assets
Stocks		1,691,268		1,166,026
Debtors	5	816,216		393,723
Cash at bank and on hand		89,283		84,889
		2,596,767		1,644,638
Creditors amounts falling due within one year	6	(2,631,681)		(1,575,549)
Net current assets (liabilities)			(34,914)		69,089
Total assets less current liabilities			25,526		81,969
Net assets			25,526		81,969
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			24,526		80,969
Shareholders' funds			25,526		81,969

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 28 September 2025, and are signed on its behalf by:

PATEL, Irfaan Murad Ali
Director
Registered Company No. 08221949

FLIPSTOCK LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Intangible assets
	Website Development Costs Where websites are expected to generate future revenues in excess of the costs of developing those websites and all other capitalisation criteria are met, expenditure on the functionality of the website is capitalised and treated as an intangible fixed asset and amortised over 5 years. Expenditure incurred on maintaining websites and expenditure incurred on developing websites used only for advertising and promotional purposes are written off as incurred.

Intangible assets

Website Development Costs
Where websites are expected to generate future revenues in excess of the costs of developing those websites and all other capitalisation criteria are met, expenditure on the functionality of the website is capitalised and treated as an intangible fixed asset and amortised over 5 years. Expenditure
incurred on maintaining websites and expenditure incurred on developing websites used only for advertising and promotional purposes are written off as incurred.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	9		5

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 January 24	8,360
	At 31 December 24	8,360
	Net book value
	At 31 December 24	8,360
	At 31 December 23	8,360

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	4,520
	Additions	56,004
	At 31 December 24	60,524
	Depreciation and impairment
	Charge for year	8,444
	At 31 December 24	8,444
	Net book value
	At 31 December 24	52,080
	At 31 December 23	4,520

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	301,157	30,250
Other debtors	361,067	273,918
Prepayments and accrued income	153,992	89,555
Total	816,216	393,723


	Other debtors include balances amounting to £294,420 due from companies with common ownership.

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	597,678	493,585
Bank borrowings and overdrafts	14,968	-
Taxation and social security	18,314	25,204
Other creditors	1,991,321	890,961
Accrued liabilities and deferred income	9,400	165,799
Total	2,631,681	1,575,549


	Amounts owed to related parties £1,977,108 are due to companies with common owneship.