Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr N P Flavin 03/03/2017 Mr P T Flavin 15/12/2020 Mr A Gill 15/12/2020 Mr G Wilson 15/12/2020 21 November 2023 The principal activity of the company during the financial year is the letting of residential property. 10650285 2023-03-31 10650285 bus:Director1 2023-03-31 10650285 bus:Director2 2023-03-31 10650285 bus:Director3 2023-03-31 10650285 bus:Director4 2023-03-31 10650285 2022-03-31 10650285 core:CurrentFinancialInstruments 2023-03-31 10650285 core:CurrentFinancialInstruments 2022-03-31 10650285 core:Non-currentFinancialInstruments 2023-03-31 10650285 core:Non-currentFinancialInstruments 2022-03-31 10650285 core:ShareCapital 2023-03-31 10650285 core:ShareCapital 2022-03-31 10650285 core:RetainedEarningsAccumulatedLosses 2023-03-31 10650285 core:RetainedEarningsAccumulatedLosses 2022-03-31 10650285 core:FurnitureFittings 2022-03-31 10650285 core:FurnitureFittings 2023-03-31 10650285 core:MoreThanFiveYears 2023-03-31 10650285 core:MoreThanFiveYears 2022-03-31 10650285 bus:OrdinaryShareClass1 2023-03-31 10650285 bus:OrdinaryShareClass2 2023-03-31 10650285 2022-04-01 2023-03-31 10650285 bus:FullAccounts 2022-04-01 2023-03-31 10650285 bus:SmallEntities 2022-04-01 2023-03-31 10650285 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10650285 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10650285 bus:Director1 2022-04-01 2023-03-31 10650285 bus:Director2 2022-04-01 2023-03-31 10650285 bus:Director3 2022-04-01 2023-03-31 10650285 bus:Director4 2022-04-01 2023-03-31 10650285 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 10650285 2021-04-01 2022-03-31 10650285 core:FurnitureFittings 2022-04-01 2023-03-31 10650285 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 10650285 core:MoreThanFiveYears 2022-04-01 2023-03-31 10650285 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10650285 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 10650285 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 10650285 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10650285 (England and Wales)

EXCELLE PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

EXCELLE PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

EXCELLE PROPERTY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
EXCELLE PROPERTY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mr N P Flavin
Mr P T Flavin
Mr A Gill
Mr G Wilson
REGISTERED OFFICE Unit 17
The Old Stables Newcourt Barton
Clyst Road
Exeter
EX3 0DB
United Kingdom
COMPANY NUMBER 10650285 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
EXCELLE PROPERTY LIMITED

BALANCE SHEET

As at 31 March 2023
EXCELLE PROPERTY LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 14,052 18,240
Investment property 4 1,703,114 1,193,446
1,717,166 1,211,686
Current assets
Debtors 5 2,845 313
Cash at bank and in hand 283,601 75,581
286,446 75,894
Creditors: amounts falling due within one year 6 ( 1,144,578) ( 657,483)
Net current liabilities (858,132) (581,589)
Total assets less current liabilities 859,034 630,097
Creditors: amounts falling due after more than one year 7 ( 862,500) ( 656,250)
Provision for liabilities ( 31,250) 0
Net liabilities ( 34,716) ( 26,153)
Capital and reserves
Called-up share capital 8 400 400
Profit and loss account ( 35,116 ) ( 26,553 )
Total shareholders' deficit ( 34,716) ( 26,153)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Excelle Property Limited (registered number: 10650285) were approved and authorised for issue by the Board of Directors on 21 November 2023. They were signed on its behalf by:

Mr N P Flavin
Director
EXCELLE PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
EXCELLE PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Excelle Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 17, The Old Stables Newcourt Barton, Clyst Road, Exeter, EX3 0DB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable in respect of rents receivable on an accruals basis.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 April 2022 20,940 20,940
At 31 March 2023 20,940 20,940
Accumulated depreciation
At 01 April 2022 2,700 2,700
Charge for the financial year 4,188 4,188
At 31 March 2023 6,888 6,888
Net book value
At 31 March 2023 14,052 14,052
At 31 March 2022 18,240 18,240

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 1,193,446
Additions 509,668
As at 31 March 2023 1,703,114

Valuation

The investment properties were valued on 31 March 2023 by a director who is internal to the company. The basis of the valuation was open market value.

There has been no valuation of investment property by an independent valuer.

5. Debtors

2023 2022
£ £
Prepayments 2,845 313

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,316 0
Amounts owed to directors 122,111 122,237
Accruals and deferred income 7,639 1,499
Other creditors 1,012,512 533,747
1,144,578 657,483

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 862,500 656,250

Bank loans include £862,500 (2022: 656,250). The loan is secured over the investment properties it relates to.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans (secured) 862,500 656,250

Bank loans include £862,500 (2022: 656,250). The loan is secured over the investment properties it relates to.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
300 Ordinary A shares of £ 1.00 each 300 300
400 400

All shares rank pari passu in all respects, but shall constitute a separate class of shares.

Reserves

Included in the profit and loss account is a profit of £93,750 (2022: £125,000) that relates to non-distributable reserves. At the year end, non-distributable funds totalled £93,750 (2022: £125,000).

9. Related party transactions

Other related party transactions

2023 2022
£ £
Single Ply Structures Limited (Balance due) (1,012,512) (533,747)

During the current year, a loan existed between Excelle Property Limited and Single Ply Structures Limited, a company under common control. No interest was charged on the loan and the balance is repayable on demand. At the balance sheet date the amount due to Single Ply Structures Limited was £1,012,512 (2022: £533,747).