Flex Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00633158 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Flex Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M C Finn

Mrs V S Sanders

T R Simmons

SECRETARY:

Mrs V S Sanders

REGISTERED OFFICE:

Langham Place

Langham Lane

Gillingham

Dorset

SP8 5NT

REGISTERED NUMBER:

00633158 (England and Wales)

ACCOUNTANTS:

Chamberlains Chartered Accountants

Elm House, Tanshire Park

Shackleford Road, Elstead

Godalming

Surrey

GU8 6LB

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Cash at bank

14,041

15,011

CREDITORS

Amounts falling due within one year

5

1,635

1,610

NET CURRENT ASSETS

12,406

13,401

TOTAL ASSETS LESS CURRENT LIABILITIES

12,407

13,402

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

12,308

13,303

SHAREHOLDERS' FUNDS

12,407

13,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 July 2021 and were signed on its behalf by:

M C Finn - Director

Mrs V S Sanders - Director

T R Simmons - Director

1.	STATUTORY INFORMATION

Flex Developments 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

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

Office Equipment

-

at varying rates on cost

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all if its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Office

Equipment

£

COST

At 1 April 2020

and 31 March 2021

50

DEPRECIATION

At 1 April 2020

and 31 March 2021

49

NET BOOK VALUE

At 31 March 2021

1

At 31 March 2020

1

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

1,635

1,610

6.	RELATED PARTY TRANSACTIONS

At 31 March 2021, the company owed the directors £660 (2020: £660) on their directors' current accounts, which is included in Other creditors in note 5.

7.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no one controlling party.