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REGISTERED NUMBER: 09469093 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

EXALTER IT LTD

EXALTER IT LTD (REGISTERED NUMBER: 09469093)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXALTER IT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: Mr S N H Moosavi





REGISTERED OFFICE: 14 London Street
Andover
Hampshire
SP10 2PA





REGISTERED NUMBER: 09469093 (England and Wales)





ACCOUNTANTS: Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

EXALTER IT LTD (REGISTERED NUMBER: 09469093)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,105 1,785

CURRENT ASSETS
Debtors 6 930 2,263
Cash at bank 4,814 555
5,744 2,818
CREDITORS
Amounts falling due within one year 7 11,552 6,298
NET CURRENT LIABILITIES (5,808 ) (3,480 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,703

)

(1,695

)

CREDITORS
Amounts falling due after more than
one year

8

25,695

28,094
NET LIABILITIES (30,398 ) (29,789 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (30,399 ) (29,790 )
(30,398 ) (29,789 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

EXALTER IT LTD (REGISTERED NUMBER: 09469093)

BALANCE SHEET - continued
31 AUGUST 2023


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 15 March 2024 and were signed by:





Mr S N H Moosavi - Director


EXALTER IT LTD (REGISTERED NUMBER: 09469093)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Exalter IT Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. This basis may not be appropriate as at the balance sheet date, the company had net liabilities of £30,398. The company's future existence is dependant on the continued support of the company's bank.

Turnover
Turnover 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 the cost less estimated residual value of each asset over its estimated useful life.
Office and computer equipment - 33% on cost

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.


EXALTER IT LTD (REGISTERED NUMBER: 09469093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Office
and
computer
equipment
£   
COST
At 1 September 2022 3,632
Additions 319
At 31 August 2023 3,951
DEPRECIATION
At 1 September 2022 1,847
Charge for year 999
At 31 August 2023 2,846
NET BOOK VALUE
At 31 August 2023 1,105
At 31 August 2022 1,785

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 873 2,031
Tax 57 -
VAT - 232
930 2,263

EXALTER IT LTD (REGISTERED NUMBER: 09469093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,977 2,977
Trade creditors 1,813 2,778
Tax - (57 )
VAT 6,162 -
Accrued expenses 600 600
11,552 6,298

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,248 3,248
Bank loans - 2-5 years 9,743 9,743
Bank loans more 5 yr by instal 12,704 15,103
25,695 28,094

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,704 15,103

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director had a loan account with the company throughout the year. At the year end, the loan account was overdrawn by £873 (2022 - £2,031). The maximum overdrawn during the year was £2,031.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S N H Moosavi.