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Registration number: 03328137

Aflex Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Aflex Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Unaudited Financial Statements | 3 to 7

Aflex Limited

Company Information

Director | J Howlett

Registered office | Salatin House 19 Cedar Road Sutton SM2 5DA

Accountants | Shaw Gibbs Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA

Aflex Limited

(Registration number: 03328137)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Receivables | 5 | 1,617,208 | 1,638,158
Cash at bank and in hand |  | 46,897 | 65,378
|  | 1,664,105 | 1,703,536
Payables: Amounts falling due within one year | 6 | (22,348) | (58,625)
Net assets |  | 1,641,757 | 1,644,911
Equity |  |  |
Called up share capital | 7 | 1,000 | 1,000
Profit and loss account |  | 1,640,757 | 1,643,911
Shareholders' funds |  | 1,641,757 | 1,644,911

For the financial year ending 31 March 2025 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 year 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.

Approved and authorised for issue by the director on 23 December 2025

.........................................

J Howlett
Director

Aflex Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

1 | General information

Aflex Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2 | Accounting policies

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Revenue recognition

Revenue 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. Revenue is shown net of 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.

Aflex Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income 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. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Properties, Plant and Equipment

Properties, Plant and Equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of properties, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

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
Office equipment | 33.3% straight line
Motor vehicles | 25% 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.

Receivables

Receivables are amounts due from customers for goods sold or services performed in the ordinary course of business.
Receivables 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.

Aflex Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Payables

Payables 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.
Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

Aflex Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

4 | Properties, Plant and Equipment

| Motor vehicles £ | Plant and machinery £ | Total £
Cost
At 1 April 2024 | 84,012 | 30,165 | 114,177
At 31 March 2025 | 84,012 | 30,165 | 114,177
Depreciation
At 1 April 2024 | 84,012 | 30,165 | 114,177
At 31 March 2025 | 84,012 | 30,165 | 114,177
Carrying amount
At 31 March 2025 | - | - | -

5 | Receivables

| 2025 £ | 2024 £
Trade receivables | 16,215 | 35,739
Amount owed by parent undertaking | 1,572,811 | 1,574,553
Other receivables | 24,870 | 24,718
Prepayments | 3,312 | 3,148
| 1,617,208 | 1,638,158

Aflex Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

6 | Payables

| 2025 £ | 2024 £
Due within one year |  |
Trade payables | 4,191 | 40,329
Social security and other taxes | 4,371 | 3,608
Corporation tax | - | 2,809
Other payables | 5,846 | 1,561
Accruals | 7,940 | 10,318
| 22,348 | 58,625

7 | Share capital and reserves

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1,000 | 1,000 | 1,000 | 1,000

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

8 | Parent and ultimate parent undertaking

The company's immediate parent is Eclipse Technology Services Limited, incorporated in England and Wales.
These financial statements are available upon request from Salatin House, 19 Cedar Road, Sutton, Surrey, SM2 5DA.