Suflex Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 11

Suflex Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,126,455	1,145,816
Investment property	5	301,222	301,222
Investments	6	70	-
		1,427,747	1,447,038
Current assets
Debtors	8	11,720,183	10,888,266
Other financial assets	7	3,408,762	3,601,861
Cash at bank and in hand		427,434	279,383
		15,556,379	14,769,510
Creditors: Amounts falling due within one year	9	(275,366)	(43,936)
Net current assets		15,281,013	14,725,574
Total assets less current liabilities		16,708,760	16,172,612
Provisions for liabilities		(88,087)	(14,101)
Net assets		16,620,673	16,158,511
Capital and reserves
Called up share capital	10	630,000	630,000
Capital redemption reserve		28,800	28,800
Revaluation reserve		10,000	10,000
Profit and loss account		15,951,873	15,489,711
Shareholders' funds		16,620,673	16,158,511

Suflex Limited

Balance Sheet

31 December 2024

For the financial year ending 31 December 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mr M B Hornung Director

Company Registration Number: 00274728

Suflex Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor House
Lower Blandford St.Mary
Blandford Forum
England
DT11 9ND

These financial statements were authorised for issue by the Board on 30 September 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Summary of disclosure exemptions

The company has taken advantage of the exemptions available under FRS102 Section 1A not to disclose transactions with related parties performed under normal market conditions. The company has taken advantage of the exemption in Financial Reporting Standard 102 chapter 33 “Related Party Disclosure” and has not disclosed transactions with wholly owned group undertakings or wholly owned indirectly by the ultimate controlling party.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Suflex Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

Depreciation

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

Suflex Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Asset class	Depreciation method and rate
Land	Not depreciated.
Computer equipment	25% per annum, straight line basis.
Motor vehicles	33% per annum, straight line basis, with a residual value.

Investment property

The investment property valuation is reviewed annually by the directors. The property is stated at fair value with changes in the fair value being recognised in the profit or loss. In ascertaining the fair value of the investment property at the reporting date, the valuation was reviewed by the directors, and they consider that there has been no impairment of the investment property since purchase.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Suflex Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 5).

4	Tangible assets

	Land £	Computer equipment  £	Motor vehicles  £	Total £
Cost
At 1 January 2024	1,053,432	12,636	118,240	1,184,308
Additions	-	3,786	-	3,786
At 31 December 2024	1,053,432	16,422	118,240	1,188,094
Depreciation
At 1 January 2024	-	7,781	30,711	38,492
Charge for the year	-	2,652	20,495	23,147
At 31 December 2024	-	10,433	51,206	61,639
Carrying amount
At 31 December 2024	1,053,432	5,989	67,034	1,126,455
At 31 December 2023	1,053,432	4,855	87,529	1,145,816

Suflex Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

5	Investment property

	2024 £
At 1 January	301,222
At 31 December	301,222

The property was purchased in November 2022 and the directors' consider that there has been no impairment of the investment property since purchase.

There has been no valuation of investment property by an independent valuer.

Suflex Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

6	Investments

	2024 £	2023 £
Investments in subsidiaries	70	-