Flextex Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01886312 (England and Wales)

FLEXTEX LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Davenport

SECRETARY:

A L Tucker

REGISTERED OFFICE:

Unit 1, Kirkham Trading Park,

Freckleton Road,

Kirkham,

Preston.

PR4 3RB

REGISTERED NUMBER:

01886312 (England and Wales)

ACCOUNTANTS:

Rushtons Chartered Accountants

Avroe House

Avroe Crescent

Blackpool Business Park

Blackpool

Lancashire

FY4 2DP

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

51,743

111,276

51,743

111,276

CURRENT ASSETS

Stocks

174,649

253,270

Debtors

3,001,791

2,669,150

Cash at bank and in hand

52,911

65,827

3,229,351

2,988,247

CREDITORS

Amounts falling due within one year

2,425,441

2,373,898

NET CURRENT ASSETS

803,910

614,349

TOTAL ASSETS LESS CURRENT
LIABILITIES

855,653

725,625

CREDITORS

Amounts falling due after more than
one year

(129,678

)

-

PROVISIONS FOR LIABILITIES

-

(7,345

)

NET ASSETS

725,975

718,280

CAPITAL AND RESERVES

Called up share capital

4

1,000

Share premium

720

Profit and loss account

724,255

716,560

SHAREHOLDERS' FUNDS

725,975

718,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 January 2017 and were signed by:

M Davenport - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in May 1997 has

been written off evenly over its estimated useful life of 5 years.

Tangible fixed assets

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

Short leasehold

-

2.5% on cost

Plant and machinery

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

60,000

AMORTISATION

At 1 May 2015

and 30 April 2016

60,000

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

1,561,345

Additions

1,342

At 30 April 2016

1,562,687

DEPRECIATION

At 1 May 2015

1,450,069

Charge for year

60,875

At 30 April 2016

1,510,944

NET BOOK VALUE

At 30 April 2016

51,743

At 30 April 2015

111,276

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

5.	ULTIMATE PARENT COMPANY

The entire share capital of the Company is held by Flextex (Holdings) Limited, a company

controlled by M Davenport.