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REGISTERED NUMBER: 10863275 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Excel Gas Limited

Excel Gas Limited (Registered number: 10863275)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Excel Gas Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Graeme Wesley Presdee
Vicky Louise Presdee





REGISTERED OFFICE: Castle Farm Barn North
Denmead Road
Southwick
Fareham
Hampshire
PO17 6EX





REGISTERED NUMBER: 10863275 (England and Wales)





ACCOUNTANTS: KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

Excel Gas Limited (Registered number: 10863275)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,572 8,286

CURRENT ASSETS
Debtors 5 8,365 6,281
Cash at bank 30,013 58,206
38,378 64,487
CREDITORS
Amounts falling due within one year 6 52,972 68,148
NET CURRENT LIABILITIES (14,594 ) (3,661 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,978

4,625

PROVISIONS FOR LIABILITIES 1,056 1,574
NET ASSETS 1,922 3,051

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 1,920 3,049
SHAREHOLDERS' FUNDS 1,922 3,051

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Excel Gas Limited (Registered number: 10863275)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:




Graeme Wesley Presdee - Director



Vicky Louise Presdee - Director


Excel Gas Limited (Registered number: 10863275)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Excel Gas Limited 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. ACCOUNTING POLICIES

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

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Excel Gas Limited (Registered number: 10863275)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 26,249
Additions 11,357
At 31 July 2023 37,606
DEPRECIATION
At 1 August 2022 17,963
Charge for year 2,071
At 31 July 2023 20,034
NET BOOK VALUE
At 31 July 2023 17,572
At 31 July 2022 8,286

Excel Gas Limited (Registered number: 10863275)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022 25,995
Transfer to ownership (25,995 )
At 31 July 2023 -
DEPRECIATION
At 1 August 2022 17,770
Transfer to ownership (17,770 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 8,225

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 7,205 6,281
Other debtors 1,160 -
8,365 6,281

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts - 4,261
Trade creditors 6,357 5,375
Taxation and social security 2,279 8,880
Other creditors 44,336 49,632
52,972 68,148

Excel Gas Limited (Registered number: 10863275)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
2 Ordinary £1 2 2

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Graeme Wesley Presdee and Vicky Louise Presdee
Balance outstanding at start of year (47,432 ) (65,566 )
Amounts repaid 5,406 18,134
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (42,026 ) (47,432 )

Included in creditors is an amount due to the directors as above. This loan is interest free, undated, unsecured and repayable on demand.