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REGISTERED NUMBER: 03282233 (England and Wales)












Financial Statements for the Year Ended 30 September 2023

for

Excel -A- Rate Business Services Limited

Excel -A- Rate Business Services Limited (Registered number: 03282233)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Excel -A- Rate Business Services Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: D A Ballan
D Pinder
Z J Ballan



SECRETARY: D A Ballan



REGISTERED OFFICE: Prospect House
389/391 Ainsworth Road
Radcliffe
Manchester
M26 4HN



REGISTERED NUMBER: 03282233 (England and Wales)



AUDITORS: Anthony Marshall Ltd
Chartered Accountants
70 Market Street
Tottington
Bury
Greater Manchester
BL8 3LJ



BANKERS: National Westminster Bank Plc

Excel -A- Rate Business Services Limited (Registered number: 03282233)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 213,110 232,988

CURRENT ASSETS
Debtors 6 10,085,037 9,417,672
Cash at bank 327,577 181,823
10,412,614 9,599,495
CREDITORS
Amounts falling due within one year 7 3,269,787 2,977,710
NET CURRENT ASSETS 7,142,827 6,621,785
TOTAL ASSETS LESS CURRENT LIABILITIES 7,355,937 6,854,773

CREDITORS
Amounts falling due after more than one
year

8

(4,175,142

)

(3,950,889

)

PROVISIONS FOR LIABILITIES 10 (110,206 ) (31,274 )
NET ASSETS 3,070,589 2,872,610

CAPITAL AND RESERVES
Called up share capital 11 15,000 15,000
Retained earnings 3,055,589 2,857,610
SHAREHOLDERS' FUNDS 3,070,589 2,872,610

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 29 February 2024 and were signed on its behalf by:





D A Ballan - Director


Excel -A- Rate Business Services Limited (Registered number: 03282233)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Excel -A- Rate Business Services 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. The turnover of the company comprises interest receivable on loans made and assets leased to customers. The asset values are included in debtors along with the finance charges allocated to future periods. The finance element of the rental receipt is credited to the profit and loss account so as to produce constant periodic rates of return on the net obligations receivable in each period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - 33% on cost and 15% reducing balance
Motor vehicles - 25% reducing balance

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 statement of financial position date.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Excel -A- Rate Business Services Limited (Registered number: 03282233)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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 year was 11 (2022 - 12 ) .

4. AUDITORS' REMUNERATION
30.9.23 30.9.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

6,000

5,500

5. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 October 2022 53,052 448,701 206,238 707,991
Additions - 28,145 - 28,145
At 30 September 2023 53,052 476,846 206,238 736,136
DEPRECIATION
At 1 October 2022 42,794 364,612 67,597 475,003
Charge for year 1,026 14,959 32,038 48,023
At 30 September 2023 43,820 379,571 99,635 523,026
NET BOOK VALUE
At 30 September 2023 9,232 97,275 106,603 213,110
At 30 September 2022 10,258 84,089 138,641 232,988

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 10,061,273 9,410,008
Other debtors 23,764 7,664
10,085,037 9,417,672

Included within trade debtors is an amount of £4,575,620 (2022: £4,855,285) being the gross investment due on finance leases. The aggregate rentals receivable in the year from finance leases was £2,283,356 (2022: £2,655,212). The amounts falling due after more than one year, and included in trade debtors are £2,545,143 (2022: £2,899,562).

Excel -A- Rate Business Services Limited (Registered number: 03282233)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank and block discount loans and overdrafts (see note 9)
2,171,002

1,998,109
Hire purchase contracts 30,568 30,568
Trade creditors 4,262 13,243
Taxation and social security 40,781 89,961
Other creditors 1,023,174 845,829
3,269,787 2,977,710

The bank loans and overdrafts are secured by a charge over various property assets of the Ballan Family Trust.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank and block discount loans (see note 9) 4,128,016 3,868,585
Hire purchase contracts 47,126 82,304
4,175,142 3,950,889

9. LOANS

An analysis of the maturity of loans is given below:

30.09.2330.09.22
££
Amounts falling due within one year or on demand:

Bank and block discount loans2,171,0021,998,109
2,171,0021,998,109

Amounts falling due between two and seven years:
Bank and block discount loans4,128,0163,868,585

10. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 110,206 31,274

Deferred
tax
£   
Balance at 1 October 2022 31,274
Charge to Income Statement during year 78,932
Balance at 30 September 2023 110,206

Excel -A- Rate Business Services Limited (Registered number: 03282233)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
15,000 Ordinary 1 15,000 15,000

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony Marshall (Senior Statutory Auditor)
for and on behalf of Anthony Marshall Ltd

13. ULTIMATE CONTROLLING PARTY

In the directors opinion, the controlling party is D.A. Ballan, by virtue of his interest in The Ballan Family Trust, and by virtue of the Trusts shareholding in the company.