IRIS Accounts Production v23.2.0.158 10796343 director 1.6.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107963432022-05-31107963432023-06-30107963432022-06-012023-06-30107963432021-05-31107963432021-06-012022-05-31107963432022-05-3110796343ns10:Originalns15:EnglandWales2022-06-012023-06-3010796343ns14:PoundSterlingns10:Original2022-06-012023-06-3010796343ns10:Originalns10:Director12022-06-012023-06-3010796343ns10:Original2022-06-012023-06-3010796343ns10:Original2023-06-3010796343ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-06-3010796343ns10:Originalns10:SmallEntities2022-06-012023-06-3010796343ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-06-3010796343ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-06-3010796343ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-06-3010796343ns10:Originalns10:FullAccounts2022-06-012023-06-3010796343ns10:Original2022-05-3110796343ns10:Originalns5:CurrentFinancialInstruments2023-06-3010796343ns10:Originalns5:CurrentFinancialInstruments2022-05-3110796343ns5:ShareCapitalns10:Original2023-06-3010796343ns5:ShareCapitalns10:Original2022-05-3110796343ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3010796343ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3110796343ns10:Original2021-06-012022-05-3110796343ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3010796343ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3110796343ns10:Original1ns10:Director12022-05-3110796343ns10:Original1ns10:Director12021-05-3110796343ns10:Original1ns10:Director12022-06-012023-06-3010796343ns10:Original1ns10:Director12021-06-012022-05-3110796343ns10:Original1ns10:Director12023-06-3010796343ns10:Original1ns10:Director12022-05-3110796343ns10:Original12022-06-012023-06-30
REGISTERED NUMBER: 10796343 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2022 TO 30 JUNE 2023

FOR

EXCEL WEALTH MANAGEMENT LTD

EXCEL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 10796343)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2022 TO 30 JUNE 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 4


EXCEL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 10796343)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

30.6.23 31.5.22
Notes £    £   
CURRENT ASSETS
Debtors 5 8,339 1,600
Cash at bank 11,241 47,913
19,580 49,513
CREDITORS
Amounts falling due within one year 6 (6,541 ) (5,067 )
NET CURRENT ASSETS 13,039 44,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,039

44,446

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 9,039 40,446
13,039 44,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 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 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 director and authorised for issue on 22 September 2023 and were signed by:





A Ioannides - Director


EXCEL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 10796343)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2022 TO 30 JUNE 2023


1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Morston House, Princess Court, Beam Heath Way, Nantwich, Cheshire, CW5 6GD.

2. STATEMENT OF COMPLIANCE

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. 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 PREPARING THE FINANCIAL STATEMENTS
The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared on the historical cost basis.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
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
Revenue is recognised at the fair value of the consideration received or receivable and in which the services are rendered, stated net of discounts and of Value Added Tax. Revenue is recognised in the accounting period in which the services are rendered.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.


EXCEL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 10796343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 30 JUNE 2023


3. ACCOUNTING POLICIES - continued
CORPORATION 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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 3 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 31.5.22
£    £   
Trade debtors - 1,500
Amounts owed by group undertakings 8,173 -
Other debtors 166 100
8,339 1,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 31.5.22
£    £   
Trade creditors 105 -
Taxation and social security 5,182 4,041
Other creditors 1,254 1,026
6,541 5,067

EXCEL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 10796343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 30 JUNE 2023


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 June 2023 and the year ended 31 May 2022:

30.6.23 31.5.22
£    £   
A Ioannides
Balance outstanding at start of period - -
Amounts advanced 115 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 115 -

8. RELATED PARTY TRANSACTIONS

There were no transactions with directors during the year.

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There was no material events up to the date of approval of the financial statements by the board.