Company Registration No. 11117389 (England and Wales)
ExecutiveSurf Ltd
Unaudited accounts
for the year ended 31 December 2023
ExecutiveSurf Ltd
Unaudited accounts
Contents
ExecutiveSurf Ltd
Company Information
for the year ended 31 December 2023
Directors
Mr Roderick Charles Bailey
Mr Anthony Charles Henry Lester
Company Number
11117389 (England and Wales)
Registered Office
Unit 229 Canalot Studios
222 Kensal Road
London
W10 5BN
United Kingdom
Accountants
AccountsCo
47 Islington Park Street
London
N1 1QB
ExecutiveSurf Ltd
Statement of financial position
as at 31 December 2023
Intangible assets
112,079
140,099
Tangible assets
6,519
5,618
Cash at bank and in hand
13,336
50,859
Creditors: amounts falling due within one year
(207,010)
(190,435)
Net current (liabilities)/assets
(51,800)
48,982
Total assets less current liabilities
66,798
194,699
Creditors: amounts falling due after more than one year
(114,134)
(136,672)
Provisions for liabilities
Deferred tax
(22,533)
(27,686)
Net (liabilities)/assets
(69,869)
30,341
Called up share capital
1,000
1,000
Profit and loss account
(78,869)
21,341
Shareholders' funds
(69,869)
30,341
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Mr Roderick Charles Bailey
Director
Company Registration No. 11117389
ExecutiveSurf Ltd
Notes to the Accounts
for the year ended 31 December 2023
ExecutiveSurf Ltd is a private company, limited by shares, registered in England and Wales, registration number 11117389. The registered office is Unit 229 Canalot Studios, 222 Kensal Road, London, W10 5BN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2022
The transition to FRS 102 Section 1A Small Entities has resulted in a change in the company’s accounting policy for deferred tax. The impact of this change is to reduce shareholders' funds as at 1 January 2022 by £32,375 and to decrease the tax charge, and thus increase the profit, for the year ended 31 December 2022 by £4,689. These changes have been reflected in the comparative figures contained in these financial statements.
In addition to the adjustment described above, the prior year comparative figures have been adjusted to reflect a dividend of £14,035 which was declared in the year ending 31 December 2022 and paid in the year ending 31 December 2023. This adjustment has the effect of reducing shareholders' funds as at 31 December 2022 by a further £14,035.
The accounts have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. Turnover from the sale of services is recognised when services have been provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
over 3 years
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation.
Intangible assets are amortised over 10 years.
Taxation for the year comprises current 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 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.
ExecutiveSurf Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 January 2023
6,000
274,200
280,200
At 31 December 2023
6,000
274,200
280,200
At 1 January 2023
3,000
137,101
140,101
Charge for the year
600
27,420
28,020
At 31 December 2023
3,600
164,521
168,121
At 31 December 2023
2,400
109,679
112,079
At 31 December 2022
3,000
137,099
140,099
5
Tangible fixed assets
Computer equipment
At 31 December 2023
20,311
At 31 December 2023
13,792
ExecutiveSurf Ltd
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
110,157
171,132
Accrued income and prepayments
5,313
5,478
Other debtors
26,404
11,948
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
63,381
30,859
Taxes and social security
71,932
62,434
Other creditors
13,797
63,242
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
99,967
112,505
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
-
5,087
-
5,087
Loan to director
-
3,002
1,000
2,002
The company made unsecured advances of £8,089 of which £7,089 was outstanding as at 31 December 2023. The terms of the advances were at HMRC's statutory interest rate. The advances are repayable before 30 September 2024.
11
Average number of employees
During the year the average number of employees was 14 (2022: 12).