EXCELLARE (DORSET) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
Company Registration Number: 08863189
EXCELLARE (DORSET) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 8
EXCELLARE (DORSET) LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023
DIRECTORS
N R Blakemore
resigned 14 February 2024
R K Lomas
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ
COMPANY REGISTRATION NUMBER
08863189 England and Wales
EXCELLARE (DORSET) LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
Notes 2023 2022
£ £
CURRENT ASSETS
Debtors 5 97,397 144,699
Cash at bank and in hand - 22
97,397 144,721
CREDITORS: Amounts falling due within one year 6 83,711 124,438
NET CURRENT ASSETS 13,686 20,283
TOTAL ASSETS LESS CURRENT LIABILITIES 13,686 20,283
CREDITORS: Amounts falling due after more than one year 7 8,265 11,718
NET ASSETS 5,421 8,565
CAPITAL AND RESERVES
Called up share capital 2 2
Distributable profit and loss account 5,419 8,563
SHAREHOLDERS' FUNDS 5,421 8,565
EXCELLARE (DORSET) LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
R K Lomas
Director
Date approved by the board: 30 July 2024
EXCELLARE (DORSET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
1 GENERAL INFORMATION
Excellare (Dorset) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover represents the value of property sales, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
EXCELLARE (DORSET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises materials, direct labour and an appropriate proportion of production overheads relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
EXCELLARE (DORSET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2023 2022
Average number of employees 2 2
5 DEBTORS
2023 2022
£ £
Other debtors 97,397 144,699
EXCELLARE (DORSET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
6 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 3,793 3,703
Taxation and social security 2,338 2,264
Accruals and deferred income 61,002 108,999
Other creditors 16,578 9,472
83,711 124,438
7 CREDITORS: Amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 8,265 11,718
8 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the year
Balance at 1 July 2022 Amounts advanced Amounts repaid Amounts written off or waived Balance at 30 June 2023
£ £ £ £ £
N R Blakemore 5,701 - 5,701 - -
R K Lomas 5,436 - 5,436 - -
11,137 - 11,137 - -
These advances are interest free and repayable on demand.
EXCELLARE (DORSET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
9 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
Excellare Limited
Connected company 2023 2022
£ £
Amount due from connected company - 9,049
Cathedral Homes Limited
Connected company 2023 2022
£ £
Amount due from connected company 4,554 4,554
Mountbatten Limited
Connected company 2023 2022
£ £
Amount due from connected company 4,374 4,374
Loro Management Limited
Connected company 2023 2022
£ £
Amount due from connected company 24,670 29,580
Wychwood Property Limited
Connected company 2023 2022
£ £
Amount owed to connected company 1,398 6,905
Wychwood Homes (Western) Limited
Connected company 2023 2022
£ £
Amount owed to/(from) connected company 10,693 (22,940)
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