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REGISTERED NUMBER: 07922814 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

EXITILE ACCESS LIMITED

EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXITILE ACCESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S G Marvin
Mrs A Knight
Mr G C Davies





REGISTERED OFFICE: Desford Hall
Unit 2 The Coach House
Leicester Lane
Desford
Leicestershire
LE9 9JJ





REGISTERED NUMBER: 07922814 (England and Wales)





ACCOUNTANTS: Armstrongs Bishop Simmons
Chartered Accountants and Tax Advisors
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CV11 4DA

EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 104,917 67,972
Investments 6 30 30
104,947 68,002

CURRENT ASSETS
Stocks 47,563 63,366
Debtors 7 908,758 871,450
Cash at bank 56,168 24,172
1,012,489 958,988
CREDITORS
Amounts falling due within one year 8 490,804 358,657
NET CURRENT ASSETS 521,685 600,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

626,632

668,333

CREDITORS
Amounts falling due after more than one
year

9

(88,575

)

(81,459

)

PROVISIONS FOR LIABILITIES (24,064 ) (11,164 )
NET ASSETS 513,993 575,710

CAPITAL AND RESERVES
Called up share capital 500,320 500,320
Retained earnings 13,673 75,390
SHAREHOLDERS' FUNDS 513,993 575,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mr S G Marvin - Director


EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Exitile Access Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred 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 or deferred taxation assets and liabilities are not discounted.

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.


EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 24,087 25,025 46,970 11,452 107,534
Additions - 1,174 69,396 2,447 73,017
At 31 March 2024 24,087 26,199 116,366 13,899 180,551
DEPRECIATION
At 1 April 2023 14,102 5,005 15,193 5,262 39,562
Charge for year 1,612 4,239 27,941 2,280 36,072
At 31 March 2024 15,714 9,244 43,134 7,542 75,634
NET BOOK VALUE
At 31 March 2024 8,373 16,955 73,232 6,357 104,917
At 31 March 2023 9,985 20,020 31,777 6,190 67,972

Included within the net book value of motor vehicles is £73,231 in respect of assets held under hire purchase agreements. (2023 : £31,777.50)

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 30
NET BOOK VALUE
At 31 March 2024 30
At 31 March 2023 30

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 420,483 382,501
Other debtors 472,243 478,797
Directors' current accounts 4,865 -
Prepayments 11,167 10,152
908,758 871,450

EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans - 687
Hire purchase contracts (see note 10) 14,474 6,905
Trade creditors 226,081 127,844
Corporation tax 5,935 52,421
Social security and other taxes 4,327 3,593
VAT 71,632 68,771
Other creditors 30 30
Positive Cashflow Account 129,404 60,395
Directors' current accounts 23,773 23,393
Accrued expenses 5,148 4,618
490,804 358,657

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,500 12,500
Preference shares 1,365 23,344
Hire purchase contracts (see note 10) 74,710 35,615
88,575 81,459

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 1,365 23,344

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 14,474 6,905
Between one and five years 74,710 35,615
89,184 42,520

EXITILE ACCESS LIMITED (REGISTERED NUMBER: 07922814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 7,000 7,000
Between one and five years 24,500 28,000
In more than five years - 3,500
31,500 38,500

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr S G Marvin
Balance outstanding at start of year - 43,067
Amounts advanced 4,865 -
Amounts repaid - (43,067 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,865 -

Mrs A Knight
Balance outstanding at start of year - 27,993
Amounts repaid - (27,993 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

12. RELATED PARTY DISCLOSURES

During the year the company donated £2,750 (2022: £8,350) to Friends of Ashanti, a charity connected via mutual directors/trustees.