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REGISTERED NUMBER: 10098147 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023

FOR

EXCESSION TECHNOLOGIES LIMITED

EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EXCESSION TECHNOLOGIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023







DIRECTORS: Mr D Peto
Mr E S Alleyn
Mr A G Tedford
Mr J R Berman
Mr J Rogers





REGISTERED OFFICE: 124 City Road
London
EC1V 2NX





REGISTERED NUMBER: 10098147 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Business Advisers and Accountants
Unit 2.02 High Weald House,
Glovers End
Bexhill
East Sussex
United Kingdom
TN39 5ES

EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,441 49,010
31,441 49,010

CURRENT ASSETS
Debtors 6 5,658,254 4,943,361
Cash at bank 35,642 27,137
5,693,896 4,970,498
CREDITORS
Amounts falling due within one year 7 2,034,903 1,977,945
NET CURRENT ASSETS 3,658,993 2,992,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,690,434

3,041,563

CAPITAL AND RESERVES
Called up share capital 8 930 258
Share premium 9 18,413,554 15,914,226
Advance subscriptions 9 3,395,966 2,268,092
Retained earnings 9 (18,120,016 ) (15,141,013 )
SHAREHOLDERS' FUNDS 3,690,434 3,041,563

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

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

EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





Mr D Peto - Director


EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


1. STATUTORY INFORMATION

Excession Technologies 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, has been amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 (Section 1A) to all of its financial instruments.

Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES
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.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION
Taxation for the period 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 statement of financial position date.


EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

RESEARCH AND DEVELOPMENT
Research and development expenditure is written off in the profit and loss account in the year to which the expenditure relates.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 45 (2023 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 July 2023
and 31 December 2023 22,215
Amortisation
At 1 July 2023
and 31 December 2023 22,215
Net book value
At 31 December 2023 -
At 30 June 2023 -

EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 July 2023 10,064 452,799 462,863
Additions - 154 154
At 31 December 2023 10,064 452,953 463,017
Depreciation
At 1 July 2023 5,404 408,449 413,853
Charge for period 666 17,057 17,723
At 31 December 2023 6,070 425,506 431,576
Net book value
At 31 December 2023 3,994 27,447 31,441
At 30 June 2023 4,660 44,350 49,010

6. DEBTORS
2023 2023
£    £   
Amounts falling due within one year:
Trade debtors 189,069 31,919
Other debtors 70,000 60,000
R&D tax credit recoverable 303,393 564,131
VAT 36,945 87,158
Prepayments and accrued income 16,381 45,523
615,788 788,731

Amounts falling due after more than one year:
Amounts owed by group undertakings 2,716,478 2,286,645
Deferred Tax Assets 2,325,988 1,867,985
5,042,466 4,154,630

Aggregate amounts 5,658,254 4,943,361

EXCESSION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10098147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade creditors 739,542 649,403
Taxation and social security 588,625 375,862
Other creditors 706,736 952,680
2,034,903 1,977,945

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2023
value: £    £   
26,493,796 Ordinary Shares £.000001 26 26
903,553,870 Ordinary A Shares £.000001 904 232
930 258

53,673 Ordinary Shares shares of £.000001 each were allotted and fully paid for cash at par during the period.

671,681,781 Ordinary A Shares shares of £.000001 each were allotted as fully paid at a premium of .003721 per share during the period.

9. RESERVES
Retained Share Advance
earnings premium subscriptions Totals
£    £    £    £   

At 1 July 2023 (15,141,013 ) 15,914,226 2,268,092 3,041,305
Deficit for the period (2,979,003 ) (2,979,003 )
Cash share issue - 2,499,328 (2,268,092 ) 231,236
Advance subscription - - 3,395,966 3,395,966
At 31 December 2023 (18,120,016 ) 18,413,554 3,395,966 3,689,504