Exacta Research Limited
Registered number: 03915945
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - -
Current assets
Debtors 4 9,559 10,834
Cash at bank and in hand 48,080 34,226
57,639 45,060
Creditors: amounts falling due within one year 5 (20,075) (11,934)
37,564 33,126
Total assets less current liabilities 37,564 33,126
Creditors: amounts falling due after more than one year 6 (51,214) (51,214)
Net liabilities (13,650) (18,088)
Capital and reserves
Called up share capital 100 100
Profit and loss account (13,750) (18,188)
Shareholder's funds (13,650) (18,088)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kevin Stanley Maughan
Director
Approved by the board on 20 February 2024
Exacta Research Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer over 3 years (now fully depreciated)
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer
£
Cost
At 1 January 2023 412
Additions 1,000
At 31 December 2023 1,412
Depreciation
At 1 January 2023 412
Charge for the year 1,000
At 31 December 2023 1,412
Net book value
At 31 December 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 8,925 10,200
Other debtors 634 634
9,559 10,834
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12,138 2,040
Other taxes and social security costs 1,915 3,429
Other creditors 6,022 6,465
20,075 11,934
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 51,214 51,214
7 Other information
Exacta Research Limited is a private company limited by shares and incorporated in England. Its registered office is:
Shakespeare House
18 Shakespeare Street
Newcastle Upon Tyne
NE1 6AQ
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