Flex Developments Limited - Limited company accounts 16.3

Flex Developments Limited - Limited company accounts 16.3

FLEX DEVELOPMENTS LIMITED - Company Information

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IRIS Accounts Production v17.2.1.52 00633158 M C Finn Board of Directors V S Sanders Board of Directors T R Simmons Board of Directors 1.4.16 31.3.17 31.3.17 a land development company. false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure006331582016-03-31006331582017-03-31006331582016-04-012017-03-31006331582015-03-31006331582015-04-012016-03-31006331582016-03-3100633158ns15:EnglandWales2016-04-012017-03-3100633158ns14:PoundSterling2016-04-012017-03-3100633158ns10:Director12016-04-012017-03-3100633158ns10:Director22016-04-012017-03-3100633158ns10:Director32016-04-012017-03-3100633158ns10:CompanySecretary12016-04-012017-03-3100633158ns10:PrivateLimitedCompanyLtd2016-04-012017-03-3100633158ns10:SmallEntities2016-04-012017-03-3100633158ns10:AuditExemptWithAccountantsReport2016-04-012017-03-3100633158ns10:SmallCompaniesRegimeForDirectorsReport2016-04-012017-03-3100633158ns10:SmallCompaniesRegimeForAccounts2016-04-012017-03-3100633158ns10:FullAccounts2016-04-012017-03-3100633158ns10:RegisteredOffice2016-04-012017-03-3100633158ns5:CurrentFinancialInstruments2017-03-3100633158ns5:CurrentFinancialInstruments2016-03-3100633158ns5:ShareCapital2017-03-3100633158ns5:ShareCapital2016-03-3100633158ns5:RetainedEarningsAccumulatedLosses2017-03-3100633158ns5:RetainedEarningsAccumulatedLosses2016-03-3100633158ns5:PlantMachinery2016-04-012017-03-3100633158ns5:PlantMachinery2016-03-3100633158ns5:PlantMachinery2017-03-3100633158ns5:PlantMachinery2016-03-3100633158ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-3100633158ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-03-31


REGISTERED NUMBER: 00633158 (England and Wales)












FLEX DEVELOPMENTS LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017






FLEX DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00633158)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2017










Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


FLEX DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2017







DIRECTORS: M C Finn
V S Sanders
T R Simmons





SECRETARY: V S Sanders





REGISTERED OFFICE: Langham Place
Langham Lane
Wyke
Gillingham
Dorset
SP8 5NT





REGISTERED NUMBER: 00633158 (England and Wales)





ACCOUNTANTS: KIMBERS Chartered Accountants
20 Scillonian Road
GUILDFORD
Surrey
GU2 7PS
Page 1
FLEX DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00633158)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2017


The directors present their report with the financial statements of the company for the year ended 31st March 2017.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2016 to the date of this report.

M C Finn
V S Sanders
T R Simmons

GOING CONCERN
The directors have a reasonable expectation that the company has adequate resources to continue operational
existence for the foreseeable future. For this reason the directors continue to adopt the going concern basis of
accounting in preparing the financial statements.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small
companies.

ON BEHALF OF THE BOARD:





V S Sanders - Secretary


11th August 2017

Page 2
FLEX DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00633158)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2017

2017 2016
Notes £    £   

TURNOVER - 10,000

Cost of sales - 431
GROSS PROFIT - 9,569

Administrative expenses 1,973 1,995
OPERATING (LOSS)/PROFIT (1,973 ) 7,574

Interest receivable and similar income 10 240
(LOSS)/PROFIT BEFORE TAXATION (1,963 ) 7,814

Tax on (loss)/profit (373 ) 1,535
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (1,590 ) 6,279

The notes form part of these financial statements

Page 3
FLEX DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00633158)

BALANCE SHEET
31ST MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1 1

CURRENT ASSETS
Debtors 4 15,373 15,000
Cash at bank 4,595 67,761
19,968 82,761
CREDITORS
Amounts falling due within one year 5 16,620 18,423
NET CURRENT ASSETS 3,348 64,338
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,349
64,339

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 3,250 64,240
SHAREHOLDERS' FUNDS 3,349 64,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11th August 2017 and were signed on its behalf
by:




M C Finn - Director V S Sanders - Director




T R Simmons - Director


The notes form part of these financial statements

Page 4
FLEX DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00633158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2017


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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 - between 5 and 10 years

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.

Page 5 continued...
FLEX DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00633158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2017


3. TANGIBLE FIXED ASSETS
Office
Equipment
£   
COST
At 1st April 2016
and 31st March 2017 50
DEPRECIATION
At 1st April 2016
and 31st March 2017 49
NET BOOK VALUE
At 31st March 2017 1
At 31st March 2016 1

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other debtors 15,373 15,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Taxation and social security - 1,563
Other creditors 16,620 16,860
16,620 18,423

6. RELATED PARTY TRANSACTIONS

At 31 March 2017, the company owed the directors £660 (2016: £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.

Page 6