Flexiguide Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04482386 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Flexiguide Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J B Privett

M J Keat

M S Badcott

P E Privett

SECRETARY:

Mrs V Privett

REGISTERED OFFICE:

Unit 9

Rodgers Industrial Estate

Yalberton Road

Paignton

Devon

TQ4 7QG

REGISTERED NUMBER:

04482386 (England and Wales)

ACCOUNTANTS:

Mark Ward Chartered Certified Accountants

First Floor Cef Building

Broomhill Way

Torquay

Devon

TQ2 7QN

BANKERS:

National Westminster Bank Plc

15 Victoria Street

Paignton

Devon

TQ4 5DE

FIXED ASSETS

Intangible assets

4

25,946

22,479

Tangible assets

5

617,554

641,320

643,500

663,799

CURRENT ASSETS

Stocks

1,089,261

907,591

Debtors

6

1,238,257

964,989

Cash at bank

1,374,114

1,556,654

3,701,632

3,429,234

CREDITORS

Amounts falling due within one year

7

899,275

1,278,142

NET CURRENT ASSETS

2,802,357

2,151,092

TOTAL ASSETS LESS CURRENT LIABILITIES

3,445,857

2,814,891

PROVISIONS FOR LIABILITIES

85,194

83,541

NET ASSETS

3,360,663

2,731,350

CAPITAL AND RESERVES

Called up share capital

27,398

27,398

Share premium

64,246

64,246

Retained earnings

3,269,019

2,639,706

SHAREHOLDERS' FUNDS

3,360,663

2,731,350

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

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

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 on 18 April 2018 and were signed on its behalf by:

J B Privett - Director

1.	STATUTORY INFORMATION

Flexiguide 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost, 12.5% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 43 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2016

25,872

Additions

10,303

At 31 July 2017

36,175

AMORTISATION

At 1 August 2016

3,393

Charge for year

6,836

At 31 July 2017

10,229

NET BOOK VALUE

At 31 July 2017

25,946

At 31 July 2016

22,479

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

1,780,084

Additions

160,860

At 31 July 2017

1,940,944

DEPRECIATION

At 1 August 2016

1,138,764

Charge for year

184,626

At 31 July 2017

1,323,390

NET BOOK VALUE

At 31 July 2017

617,554

At 31 July 2016

641,320

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

1,206,225

930,382

Other debtors

32,032

34,607

1,238,257

964,989

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

192,468

228,246

Taxation and social security

280,976

174,184

Other creditors

425,831

875,712

899,275

1,278,142

8.	TRANSITION TO FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 August 2015.

There were no changes to the previously stated equity as at 1 August 2015 and 31 July 2016 or in the profit for

the year ended 31 July 2016 as a result of the transition to FRS 102.