EXCEL CHEER CENTRE LIMITED

Company Registration Number:
08906775 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2023

Period of accounts

Start date: 01 January 2023

End date: 30 September 2023

EXCEL CHEER CENTRE LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2023

Balance sheet
Notes

EXCEL CHEER CENTRE LIMITED

Balance sheet

As at 30 September 2023


Notes

9 months to 30 September 2023

9 months to 31 December 2022


£

£
Fixed assets
Tangible assets: 3 6,580 14,735
Total fixed assets: 6,580 14,735
Current assets
Stocks: 2,600 100,000
Debtors:   933 3,767
Cash at bank and in hand: 398,184 368,447
Total current assets: 401,717 472,214
Creditors: amounts falling due within one year:   (11,184) (37,589)
Net current assets (liabilities): 390,533 434,625
Total assets less current liabilities: 397,113 449,360
Creditors: amounts falling due after more than one year:     (25,109)
Total net assets (liabilities): 397,113 424,251
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 397,013 424,151
Shareholders funds: 397,113 424,251

The notes form part of these financial statements

EXCEL CHEER CENTRE LIMITED

Balance sheet statements

For the year ending 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 November 2023
and signed on behalf of the board by:

Name: Mr Colin Waite
Status: Director

The notes form part of these financial statements

EXCEL CHEER CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is possible that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total cost. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Fixtures, fittings and equipment 20% reducing balance.The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the profit or loss.

Valuation and information policy

StocksStock is valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Other accounting policies

Foreign currency translation.Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate prevailing at the date of the transaction. Gains and losses arising on translation in the period are included in profit or loss.LeasesRentals payable under operating leases, including and lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease expect where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.TaxationThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Deferred TaxationDeferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of other assets and liabilities in the transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

EXCEL CHEER CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

2. Employees

9 months to 30 September 2023 9 months to 31 December 2022
Average number of employees during the period 3 3

EXCEL CHEER CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 45,500
Additions 7,046
Disposals (45,500)
At 30 September 2023 7,046
Depreciation
At 01 January 2023 30,765
Charge for year 466
On disposals (30,765)
At 30 September 2023 466
Net book value
At 30 September 2023 6,580
At 31 December 2022 14,735

EXCEL CHEER CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

4. Post balance sheet events

The company ceased trading on 30 September 2023.