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Registration number: 10589566

Flitcraft Limited
Annual Report and Unaudited Financial Statements
for the Period from 30 August 2023 to 30 August 2024

Flitcraft Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 7

Flitcraft Limited

(Registration number: 10589566)
Balance Sheet as at 30 August 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 56,799 | 40,976
Current assets |  |  |
Stocks | 5 | 42,244 | 255,740
Debtors | 6 | 1,881,480 | 2,049,114
Cash at bank and in hand |  | 7,297 | 1,079
|  | 1,931,021 | 2,305,933
Creditors: Amounts falling due within one year | 7 | (2,555,838) | (1,495,582)
Net current (liabilities)/assets |  | (624,817) | 810,351
Total assets less current liabilities |  | (568,018) | 851,327
Creditors: Amounts falling due after more than one year | 7 | (223,569) | (207,708)
Net (liabilities)/assets |  | (791,587) | 643,619
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | (791,687) | 643,519
Shareholders' (deficit)/funds |  | (791,587) | 643,619

For the financial period ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account and director's report have not been delivered in accordance with the special provisions applicable to companies subject to the small company regime.

Approved and authorised by the director on 18 November 2025

......................................... Mr GW Flitcroft Director

Flitcraft Limited

Notes to the Unaudited Financial Statements for the Period from 30 August 2023 to 30 August 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:
454 Darwen Road
Bromley Cross
Bolton
Lancashire
BL7 9DX
United Kingdom

The principal place of business is:
Tarnacre Hall Business Park
St Michaels on Wye
Preston
Lancashire
PR3 0SZ

These financial statements were authorised for issue by the director on 18 November 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in Sterling, which is the functional currency of the company and are rounded to the nearest pound.

Going concern

The company is reliant upon the financial support of its shareholders in order to meet its liabilities as they fall due. The shareholders have indicated that this support will continue for the foreseeable future and as a result, the directors have continued to adopt the going concern basis in preparing the financial statements.

Flitcraft Limited

Notes to the Unaudited Financial Statements for the Period from 30 August 2023 to 30 August 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 sales/value added tax, returns, rebates and discounts.
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.

Government grants

The company has received a revenue grant in the form of the Job Retention Scheme in respect of furloughed staff. Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises 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 income 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.

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 and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and equipment | 15% reducing balance
Motor vehicles | 25% reducing balance
Furniture, fittings and equipment | 33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Flitcraft Limited

Notes to the Unaudited Financial Statements for the Period from 30 August 2023 to 30 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Flitcraft Limited

Notes to the Unaudited Financial Statements for the Period from 30 August 2023 to 30 August 2024

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.

Employee Benefits

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

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 23 (2023 - 27).

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Plant and equipment £ | Total £
Cost or valuation
At 30 August 2023 | 15,327 | 14,993 | 69,145 | 99,465
Additions | - | - | 27,500 | 27,500
Disposals | - | (6,998) | - | (6,998)
At 30 August 2024 | 15,327 | 7,995 | 96,645 | 119,967
Depreciation
At 30 August 2023 | 15,070 | 10,124 | 33,295 | 58,489
Charge for the period | 257 | 984 | 9,503 | 10,744
Eliminated on disposal | - | (6,065) | - | (6,065)
At 30 August 2024 | 15,327 | 5,043 | 42,798 | 63,168
Carrying amount
At 30 August 2024 | - | 2,952 | 53,847 | 56,799
At 29 August 2023 | 257 | 4,869 | 35,850 | 40,976

Flitcraft Limited

Notes to the Unaudited Financial Statements for the Period from 30 August 2023 to 30 August 2024

Finance Leases and Hire Purchase Contracts

Included within the net book value of tangible fixed assets is £23,375 (2023 - £nil) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the period on these assets was £4,125 (2023 - £nil).

5 | Stocks

| 2024 £ | 2023 £
Other inventories | 42,244 | 255,740

6 | Debtors

| 2024 £ | 2023 £
Trade debtors | 255,003 | 400,319
Prepayments | 1,171,905 | 1,168,503
Other debtors | 454,572 | 480,292
| 1,881,480 | 2,049,114

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Loans and borrowings | 9 | 24,533 | 18,334
Trade creditors |  | 922,534 | 839,447
Taxation and social security |  | 273,647 | 107,283
Accruals and deferred income |  | 74,488 | 32,710
Other creditors |  | 1,260,636 | 497,808
|  | 2,555,838 | 1,495,582

Creditors include other loans which are secured of £nil (2023 - £18,334).

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Loans and borrowings | 9 | 223,569 | 207,708

Creditors include other loans which are secured of £nil (2023 - £4,583).

Flitcraft Limited

Notes to the Unaudited Financial Statements for the Period from 30 August 2023 to 30 August 2024

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary share of £1 each | 100 | 100 | 100 | 100

9 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 203,125 | 207,708
Hire purchase contracts | 20,444 | -
| 223,569 | 207,708

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | - | 18,334
Hire purchase contracts | 24,533 | -
| 24,533 | 18,334