Flexible Wall Systems Limited Filleted accounts for Companies House (small and micro)

FLEXIBLE WALL SYSTEMS LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 06665308 2017-04-01 2018-03-31 06665308 2018-03-31 06665308 2017-03-31 06665308 2016-04-01 2017-03-31 06665308 2017-03-31 06665308 bus:RegisteredOffice 2017-04-01 2018-03-31 06665308 bus:LeadAgentIfApplicable 2017-04-01 2018-03-31 06665308 bus:Director2 2017-04-01 2018-03-31 06665308 bus:Director3 2017-04-01 2018-03-31 06665308 bus:Director4 2017-04-01 2018-03-31 06665308 bus:Director5 2017-04-01 2018-03-31 06665308 bus:CompanySecretary1 2017-04-01 2018-03-31 06665308 bus:Director1 2017-04-01 2018-03-31 06665308 bus:Director6 2017-04-01 2018-03-31 06665308 core:WithinOneYear 2018-03-31 06665308 core:WithinOneYear 2017-03-31 06665308 core:ShareCapital 2018-03-31 06665308 core:ShareCapital 2017-03-31 06665308 core:RetainedEarningsAccumulatedLosses 2018-03-31 06665308 core:RetainedEarningsAccumulatedLosses 2017-03-31 06665308 bus:Director6 2017-03-31 06665308 bus:Director6 2018-03-31 06665308 bus:Director6 2016-03-31 06665308 bus:Director6 2017-03-31 06665308 bus:Director6 2016-04-01 2017-03-31 06665308 bus:SmallEntities 2017-04-01 2018-03-31 06665308 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 06665308 bus:AbridgedAccounts 2017-04-01 2018-03-31 06665308 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 06665308 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 06665308 core:OfficeEquipment 2017-04-01 2018-03-31

COMPANY REGISTRATION NUMBER: 06665308

Flexible Wall Systems Limited

Filleted Unaudited Abridged Financial Statements

31 March 2018

Flexible Wall Systems Limited

Abridged Financial Statements

Year Ended 31 March 2018

Contents	Pages

Officers and professional advisers	1

Abridged statement of financial position	2 to 3

Notes to the abridged financial statements	4 to 6

Flexible Wall Systems Limited

Officers and Professional Advisers

The board of directors	Mr D Horne
	Mr G Roe
	Mr G Thompson
	Mr N Benham

Company secretary	Mrs D Benham

Registered office	88 High Street
	Ramsey
	Huntingdon
	Cambs
	PE26 1BS

Accountants	SR Howell & Co
	Chartered Certified Accountants
	88 High Street
	Ramsey
	Huntingdon
	Cambs
	PE26 1BS

Flexible Wall Systems Limited

Abridged Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	244	325

Current assets

Stocks	1,614	1,614
Debtors	9,436	33,861
Cash at bank and in hand	29,760	1,346
	--------	--------
	40,810	36,821

Creditors: amounts falling due within one year	38,728	36,764
	--------	--------
Net current assets	2,082	57
	-------	----
Total assets less current liabilities	2,326	382
	-------	----
Net assets	2,326	382
	-------	----

Capital and reserves

Called up share capital	500	400
Profit and loss account	1,826	( 18)
	-------	----
Shareholders funds	2,326	382
	-------	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

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

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Flexible Wall Systems Limited

Abridged Statement of Financial Position (continued)

31 March 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 2 October 2018 , and are signed on behalf of the board by:

„„„„„„„„„„„„„

N Benham Director

Company registration number: 06665308

Flexible Wall Systems Limited

Notes to the Abridged Financial Statements

Year Ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 88 High Street, Ramsey, Huntingdon, Cambs, PE26 1BS.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

3.2 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

3.3 Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3.4 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

3.5 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% reducing balance

3.6 Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 3 ).

5. Tangible assets

	£
Cost
At 1 April 2017 and 31 March 2018	1,220
	-------
Depreciation
At 1 April 2017	895
Charge for the year	81
	-------
At 31 March 2018	976
	-------
Carrying amount
At 31 March 2018	244
	-------
At 31 March 2017	325
	-------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 6,734)	4,575	( 2,159)
	-------	-------	-------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 13,485)	6,751	( 6,734)
	--------	-------	-------

7. Related party transactions

The directors, Mr N Benham & Mr D Horne , are also directors & controlling shareholders of BH Doors & Engineering Limited . During the year, BH Doors & Engineering Limited supplied labour, services & equipment to the company totalling £11,500 (2017 - £10,800) and Flexible Wall Systems Limited provided similar services back to BH Doors & Engineering Limited totalling £Nil (2017 - £24,000). At the balance sheet date, in other creditors is the amount owed from the company to BH Doors & Engineering Limited totalling £29,602 (2017 - £28,454).