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Company Registration No. 11117389 (England and Wales)
ExecutiveSurf Ltd Unaudited accounts for the year ended 31 December 2023
ExecutiveSurf Ltd Unaudited accounts Contents
Page
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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
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ExecutiveSurf Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
112,079 
140,099 
Tangible assets
6,519 
5,618 
118,598 
145,717 
Current assets
Debtors
141,874 
188,558 
Cash at bank and in hand
13,336 
50,859 
155,210 
239,417 
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 
Capital and reserves
Called up share capital
1,000 
1,000 
Share premium
8,000 
8,000 
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
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ExecutiveSurf Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts 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. 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
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation. Intangible assets are amortised over 10 years.
Tax policy
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.
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ExecutiveSurf Ltd Notes to the Accounts for the year ended 31 December 2023
Deferred taxation
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.
Foreign currency policy
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 
£ 
£ 
£ 
Cost
At 1 January 2023
6,000 
274,200 
280,200 
At 31 December 2023
6,000 
274,200 
280,200 
Amortisation
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 
Net book value
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 
£ 
Cost or valuation
At cost 
At 1 January 2023
15,574 
Additions
4,737 
At 31 December 2023
20,311 
Depreciation
At 1 January 2023
9,956 
Charge for the year
3,836 
At 31 December 2023
13,792 
Net book value
At 31 December 2023
6,519 
At 31 December 2022
5,618 
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ExecutiveSurf Ltd Notes to the Accounts for the year ended 31 December 2023
6
Debtors
2023 
2022 
£ 
£ 
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 
141,874 
188,558 
7
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 
Accruals
47,900 
23,900 
207,010 
190,435 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,167 
24,167 
Other creditors
99,967 
112,505 
114,134 
136,672 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan to director
- 
5,087 
- 
5,087 
Loan to director
- 
3,002 
1,000 
2,002 
- 
8,089 
1,000 
7,089 
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).
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