REGISTERED NUMBER: 04110539 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2026

for

Flag Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G W Reid

REGISTERED OFFICE:

4 Aldsworth Manor Barns

Aldsworth

Emsworth

West Sussex

PO10 8QT

REGISTERED NUMBER:

04110539 (England and Wales)

ACCOUNTANTS:

Butler & Co Alresford Limited

Chartered Accountants

The Old Stables

Sutton Manor Farm

Bishops Sutton

Alresford

Hampshire

SO24 0AA

FIXED ASSETS

Tangible assets

4

30,926

1,538

Investment property

5

675,000

675,000

705,926

676,538

CURRENT ASSETS

Cash at bank and in hand

452,746

660,909

CREDITORS

Amounts falling due within one year

6

136,455

251,181

NET CURRENT ASSETS

316,291

409,728

TOTAL ASSETS LESS CURRENT LIABILITIES

1,022,217

1,086,266

CREDITORS

Amounts falling due after more than one year

7

(22,103

)

-

PROVISIONS FOR LIABILITIES

8

(50,432

)

(44,848

)

NET ASSETS

949,682

1,041,418

CAPITAL AND RESERVES

Called up share capital

9

4

4

Fair value reserve - non-distributable

189,952

189,952

Retained earnings

759,726

851,462

SHAREHOLDERS' FUNDS

949,682

1,041,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2026 and were signed by:

Mr G W Reid - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% reducing balance basis

Computer equipment

-

25% reducing balance basis

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 6 April 2025

-

4,010

4,010

Additions

38,110

1,587

39,697

At 5 April 2026

38,110

5,597

43,707

DEPRECIATION

At 6 April 2025

-

2,472

2,472

Charge for year

9,528

781

10,309

At 5 April 2026

9,528

3,253

12,781

NET BOOK VALUE

At 5 April 2026

28,582

2,344

30,926

At 5 April 2025

-

1,538

1,538

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2025

and 5 April 2026

675,000

NET BOOK VALUE

At 5 April 2026

675,000

At 5 April 2025

675,000

Fair value at 5 April 2026 is represented by:

£

Valuation in 2015

702,514

Valuation in 2016

241,880

Valuation in 2021

(219,858

)

Valuation in 2024

300,322

Valuation in 2025

(790,351

)

Cost

440,493

675,000

If investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

440,493

440,493

Investment property was valued on an open market basis on 5 April 2026 by Mr G W Reid, the director .

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

6,033

-

Corporation tax

-

114,355

Other creditors

7,692

6,396

Directors' current accounts

121,110

128,870

Accrued expenses

1,620

1,560

136,455

251,181

The hire purchase contract is secured against the asset to which it relates.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

22,103

-

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

5,876

292

Investment property revaluations

44,556

44,556

50,432

44,848

Deferred

tax

£

Balance at 6 April 2025

44,848

Accelerated capital allowances

5,584

Balance at 5 April 2026

50,432

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

4

Ordinary

£1

4

4

10.	RELATED PARTY DISCLOSURES

Mr G W Reid

Director

Interest paid to the director in the year amounted to £121,110 (2025 - £18,996).

2026

2025

£

£

Amount owed to related party at balance sheet date

Mr G W Reid

Director

121,110

128,870