Company registration number 03266494 (England and Wales)
FLOWTECH PRECISION MOULDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
FLOWTECH PRECISION MOULDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 12
FLOWTECH PRECISION MOULDINGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
FIXED ASSETS
Intangible assets
4
1,238,247
1,085,142
Tangible assets
5
3,194,678
3,282,627
4,432,925
4,367,769
CURRENT ASSETS
Stocks
776,171
451,175
Debtors
6
378,869
1,261,387
Cash at bank and in hand
22,210
5,013
1,177,250
1,717,575
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7
(4,323,598)
(4,323,432)
NET CURRENT LIABILITIES
(3,146,348)
(2,605,857)
TOTAL ASSETS LESS CURRENT LIABILITIES
1,286,577
1,761,912
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
8
(3,575,796)
(4,308,532)
NET LIABILITIES
(2,289,219)
(2,546,620)
CAPITAL AND RESERVES
Called up share capital
82,000
82,000
Share premium account
89,600
89,600
Revaluation reserve
9
704,122
704,122
Distributable profit and loss reserves
(3,164,941)
(3,422,342)
TOTAL EQUITY
(2,289,219)
(2,546,620)
FLOWTECH PRECISION MOULDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 February 2026 and are signed on its behalf by:
Mr J R Dobbs
Director
Company registration number 03266494 (England and Wales)
FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
ACCOUNTING POLICIES
Company information

Flowtech Precision Mouldings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Cambrian Industrial Park, Clydach Vale, Tonypandy, CF40 2XX.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The accounts have been prepared on a going concern basis.

The accounts show that the company made a profit for the year but had net liabilities at the balance sheet date.. The directors have therefore had to consider the appropriateness of the going concern basis.

The company has managed to finance its operations largely because of the support of its long-established customer base and strong support of its supply base and debt holders. The directors are currently negotiating terms with the company's debt holders and they believe that if successful, the company will be able to meet its liabilities as they fall due.

On the basis of the above, the directors consider that it is appropriate to prepare the accounts on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Development expenditure is incurred is capitalised as an intangible asset only when all of the following criteria are met:

- It is technically feasible to complete the intangible asset so that it will be available for use or sale;

- There is the intention to complete the intangible asset and use or sell it;

- There is the ability to use or sell the intangible asset;

- The use or sale of the intangible asset will generate probable future economic benefits;

- There are adequate technical, financial, and other resources available to complete the development and to use or sell the intangible assets; and

- The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

1.5
Intangible fixed assets other than goodwill
Development costs
10% straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
no depreciation
Leasehold improvements
10% reducing balance
Plant and equipment
20% straightline
Fixtures and fittings
25% reducing balance
Motor vehicles
20% straightline

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
ACCOUNTING POLICIES
(Continued)
- 5 -
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
ACCOUNTING POLICIES
(Continued)
- 6 -
1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
ACCOUNTING POLICIES
(Continued)
- 7 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
2
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The deferred tax asset has been recognised on the basis that the director expects a positive outcome to the negotiations outlined in note 1.2 above.

3
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
58
58
FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
4
INTANGIBLE FIXED ASSETS
Development costs
£
Cost
At 1 May 2024
1,808,572
Additions
94,015
At 30 April 2025
1,902,587
Amortisation and impairment
At 1 May 2024
723,430
Amortisation charged for the year
(59,090)
At 30 April 2025
664,340
Carrying amount
At 30 April 2025
1,238,247
At 30 April 2024
1,085,142

The amortisation in the year ended 30 April 2024 was overstated by £59,090. The directors believe that this amount is immaterial to the accounts and have corrected this in the year ended 30 April 2025.

FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
5
TANGIBLE FIXED ASSETS
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 May 2024
1,488,166
3,764,550
5,252,716
Additions
11,000
29,717
40,717
At 30 April 2025
1,499,166
3,794,267
5,293,433
Depreciation and impairment
At 1 May 2024
-
0
1,970,089
1,970,089
Depreciation charged in the year
-
0
128,666
128,666
At 30 April 2025
-
0
2,098,755
2,098,755
Carrying amount
At 30 April 2025
1,499,166
1,695,512
3,194,678
At 30 April 2024
1,488,166
1,794,461
3,282,627

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Land and buildings
2025
2024
£
£
Cost
889,619
878,619
Accumulated depreciation
(125,453)
(125,453)
Carrying value
764,166
753,166
FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
6
DEBTORS
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
74,323
1,019,739
Other debtors
304,546
94,376
378,869
1,114,115
Deferred tax asset
-
0
147,272
378,869
1,261,387
7
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
£
£
Bank loans and overdrafts
180,605
189,955
Obligations under finance leases
340,234
371,279
Trade creditors
1,211,527
1,832,218
Taxation and social security
922,827
853,722
Deferred income
324,476
-
0
Other creditors
906,885
907,455
Accruals and deferred income
437,044
168,803
4,323,598
4,323,432

The above includes secured creditors of £340,234 (2024: £461,806). These balances are secured over the assets to which they relate.

8
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025
2024
Notes
£
£
Bank loans and overdrafts
472,707
501,904
Obligations under finance leases
378,800
654,205
Other creditors
2,724,289
3,152,423
3,575,796
4,308,532
FLOWTECH PRECISION MOULDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
8
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
(Continued)
- 12 -
Creditors which fall due after five years are payable as follows:
Payable by instalments
189,725
202,620

The above includes secured creditors of £378,800 (2024: £1,100,206). These balances are secured over the assets to which they relate.

9
REVALUATION RESERVE
2025
2024
£
£
At the beginning of the year
704,122
735,000
Revaluation surplus/(deficit) arising in the year
-
0
(30,878)
At the end of the year
704,122
704,122
10
DIRECTORS' TRANSACTIONS

Included in other creditors are balances of £40,600 (2024: £41,030) owed to the directors. These amounts are repayable on demand.

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