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COMPANY REGISTRATION NUMBER: 05067085
Flexitech Marketing Limited
Filleted Unaudited Financial Statements
31 March 2018
Flexitech Marketing Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
£
Fixed assets
Tangible assets
4
2,139
2,632
Current assets
Debtors
5
4,580
11,589
Cash at bank and in hand
5,646
2,616
--------
--------
10,226
14,205
Creditors: amounts falling due within one year
6
6,675
11,232
--------
--------
Net current assets
3,551
2,973
-------
-------
Total assets less current liabilities
5,690
5,605
-------
-------
Net assets
5,690
5,605
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
5,689
5,604
-------
-------
Shareholders funds
5,690
5,605
-------
-------
These 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 statement of income and retained earnings 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Flexitech Marketing Limited
Statement of Financial Position (continued)
31 March 2018
These financial statements were approved by the board of directors and authorised for issue on 12 December 2018 , and are signed on behalf of the board by:
Mr. R.A. Dickens
Director
Company registration number: 05067085
Flexitech Marketing Limited
Notes to the 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 Cape Horn Cottage, Well Road, East Aberthaw, Rhoose, CF62 3DF.
2. Statement of compliance
These 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
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant & Machinery
-
20% reducing balance
Motor Vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2017 and 31 March 2018
4,107
2,550
6,657
-------
-------
-------
Depreciation
At 1 April 2017
2,759
1,266
4,025
Charge for the year
236
257
493
-------
-------
-------
At 31 March 2018
2,995
1,523
4,518
-------
-------
-------
Carrying amount
At 31 March 2018
1,112
1,027
2,139
-------
-------
-------
At 31 March 2017
1,348
1,284
2,632
-------
-------
-------
5. Debtors
2018
2017
£
£
Trade debtors
4,180
5,944
Other debtors
400
5,645
-------
--------
4,580
11,589
-------
--------
6. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
2,634
Corporation tax
4,844
7,204
Other creditors
1,831
1,394
-------
--------
6,675
11,232
-------
--------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr. R.A. Dickens
5,645
23,262
( 29,538)
( 631)
-------
--------
--------
----
2017
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr. R.A. Dickens
( 508)
39,230
( 33,077)
5,645
----
--------
--------
-------
8. Related party transactions
The company was under the control of Mr. R.A. Dickens throughout the current and previous year. Mr. R.A. Dickens is the managing director and sole shareholder. During the year the company invoiced Safety Technology Limited services amounting to £30,508 (2017 - £39,172), a company in which Mr. R.A. Dickens has a controlling interest. As at the year end the company was owed £4,320 (2017 - £3,065) by Safety Technology Limited in respect of trade balances.