Registered number
09703451
EXOLENT IT SOLUTIONS LTD
Filleted Accounts
31 July 2023
EXOLENT IT SOLUTIONS LTD
Registered number: 09703451
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,233 1,609
Current assets
Cash at bank and in hand 29,300 14,073
Creditors: amounts falling due within one year 4 (16,441) (14,955)
Net current assets/(liabilities) 12,859 (882)
Net assets 16,092 727
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,992 627
Shareholder's funds 16,092 727
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.
Mr Sylvester Saldanha
Director
Approved by the board on 30 July 2024
EXOLENT IT SOLUTIONS LTD
Notes to the Accounts
for the year ended 31 July 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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 3,282
Additions 2,432
At 31 July 2023 5,714
Depreciation
At 1 August 2022 1,673
Charge for the year 808
At 31 July 2023 2,481
Net book value
At 31 July 2023 3,233
At 31 July 2022 1,609
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 8,731 3,644
Other creditors 7,710 11,311
16,441 14,955
5 Controlling party
The Company is being controlled by Mr Sylvester Saldanha by virtue of his 100% share holding in the company.
6 Other information
EXOLENT IT SOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
1 Kane Court
14 Peartree Way
London
United Kingdom
SE10 0JR
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