Flagship Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05755020 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Flagship Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Read

C T Read

SECRETARY:

C T Read

REGISTERED OFFICE:

Cawley House

149-155 Canal Street

Nottingham

NG1 7HR

REGISTERED NUMBER:

05755020 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

FIXED ASSETS

Property, plant and equipment

4

2,564

2,531

CURRENT ASSETS

Debtors

5

25,000

Investments

6

45,881

55,531

Cash at bank

10,551

9,793

81,432

90,324

CREDITORS

Amounts falling due within one year

7

30,034

27,967

NET CURRENT ASSETS

51,398

62,357

TOTAL ASSETS LESS CURRENT
LIABILITIES

53,962

64,888

CREDITORS

Amounts falling due after more than
one year

8

16,250

20,000

NET ASSETS

37,712

44,888

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

36,712

43,888

37,712

44,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 23 December 2022 and were signed on its behalf by:

Mrs S Read - Director

1.	STATUTORY INFORMATION

Flagship Management 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

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.

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 3 (2021 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2021

9,717

Additions

674

At 31 March 2022

10,391

DEPRECIATION

At 1 April 2021

7,186

Charge for year

641

At 31 March 2022

7,827

NET BOOK VALUE

At 31 March 2022

2,564

At 31 March 2021

2,531

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Other debtors

25,000

6.	CURRENT ASSET INVESTMENTS

2022

2021

£

Unlisted investments

45,881

55,531

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Bank loans and overdrafts

5,000

Trade creditors

(1

)

-

Taxation and social security

5,134

4,990

Other creditors

19,901

17,977

30,034

27,967

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2022

2021

£

Bank loans

16,250

20,000

Flagship Management Limited - Accounts to registrar (filleted) - small 18.2

Flagship Management Limited - Accounts to registrar (filleted) - small 18.2