Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityfalsetrue82023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.10truefalse 07045636 2023-01-01 2023-12-31 07045636 2022-01-01 2022-12-31 07045636 2023-12-31 07045636 2022-12-31 07045636 c:Director1 2023-01-01 2023-12-31 07045636 d:PlantMachinery 2023-01-01 2023-12-31 07045636 d:PlantMachinery 2023-12-31 07045636 d:PlantMachinery 2022-12-31 07045636 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07045636 d:MotorVehicles 2023-01-01 2023-12-31 07045636 d:MotorVehicles 2023-12-31 07045636 d:MotorVehicles 2022-12-31 07045636 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07045636 d:OfficeEquipment 2023-01-01 2023-12-31 07045636 d:OfficeEquipment 2023-12-31 07045636 d:OfficeEquipment 2022-12-31 07045636 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07045636 d:ComputerEquipment 2023-01-01 2023-12-31 07045636 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07045636 d:Goodwill 2023-12-31 07045636 d:Goodwill 2022-12-31 07045636 d:CurrentFinancialInstruments 2023-12-31 07045636 d:CurrentFinancialInstruments 2022-12-31 07045636 d:Non-currentFinancialInstruments 2023-12-31 07045636 d:Non-currentFinancialInstruments 2022-12-31 07045636 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07045636 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07045636 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07045636 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07045636 d:ShareCapital 2023-12-31 07045636 d:ShareCapital 2022-12-31 07045636 d:RetainedEarningsAccumulatedLosses 2023-12-31 07045636 d:RetainedEarningsAccumulatedLosses 2022-12-31 07045636 c:FRS102 2023-01-01 2023-12-31 07045636 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07045636 c:FullAccounts 2023-01-01 2023-12-31 07045636 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07045636 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 07045636 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 07045636 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 07045636 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 07045636 2 2023-01-01 2023-12-31 07045636 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07045636 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 07045636 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07045636









EXCELOTHENE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
EXCELOTHENE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EXCELOTHENE LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Excelothene Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Excelothene Limited, as a body, in accordance with the terms of our engagement letter dated 31 March 2012Our work has been undertaken solely to prepare for your approval the financial statements of Excelothene Limited and state those matters that we have agreed to state to the Board of directors of Excelothene Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excelothene Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Excelothene Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Excelothene Limited. You consider that Excelothene Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Excelothene Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



KBDR
 
Chartered Accountants
  
The Old Tannery
Hensington Road
Woodstock
OX20 1JL
19 August 2024
Page 1

 
EXCELOTHENE LIMITED
REGISTERED NUMBER: 07045636

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
188,328
189,477

  
188,328
189,477

Current assets
  

Stocks
  
64,101
53,454

Debtors: amounts falling due within one year
 6 
1,565,993
1,841,614

Cash at bank and in hand
 7 
382,161
32,727

  
2,012,255
1,927,795

Creditors: amounts falling due within one year
 8 
(809,089)
(889,448)

Net current assets
  
 
 
1,203,166
 
 
1,038,347

Total assets less current liabilities
  
1,391,494
1,227,824

Creditors: amounts falling due after more than one year
 9 
(55,206)
(85,150)

Provisions for liabilities
  

Deferred tax
 11 
(25,087)
(23,970)

  
 
 
(25,087)
 
 
(23,970)

Net assets
  
1,311,201
1,118,704

Page 2

 
EXCELOTHENE LIMITED
REGISTERED NUMBER: 07045636
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,311,101
1,118,604

  
1,311,201
1,118,704


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 August 2024.




G Jones
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Excelothene Limited,
Company registered 07045636 incorporated in England and Wales. 
Registered office address: 
The Old Tannery, 
Hensington Road, 
Woodstock, 
Oxfordshire, 
OX20 1JL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
25% Reducing balance
Motor vehicles
-
25% Reducing balance
Office equipment
-
25% Straight line
Computer equipment
-
33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 8).


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
35,414



At 31 December 2023

35,414



Amortisation


At 1 January 2023
35,414



At 31 December 2023

35,414



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 8

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office & computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
4,467
158,895
147,011
310,373


Additions
-
-
91,741
91,741



At 31 December 2023

4,467
158,895
238,752
402,114



Depreciation


At 1 January 2023
3,112
29,677
88,105
120,894


Charge for the year on owned assets
339
52,435
40,118
92,892



At 31 December 2023

3,451
82,112
128,223
213,786



Net book value



At 31 December 2023
1,016
76,783
110,529
188,328



At 31 December 2022
1,354
129,218
58,905
189,477

Page 9

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
764,694
884,096

Other debtors
518,690
869,818

Called up share capital not paid
195,344
-

Prepayments and accrued income
2,392
428

Tax recoverable
84,873
87,272

1,565,993
1,841,614



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
382,161
32,727

382,161
32,727



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
24,167
34,167

Trade creditors
489,617
504,363

Corporation tax
138,848
136,750

Other taxation and social security
62,358
78,955

Obligations under finance lease and hire purchase contracts
8,146
14,714

Accruals and deferred income
85,953
120,499

809,089
889,448


Page 10

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
55,206
85,150

55,206
85,150



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,146
14,714

Between 1-5 years
55,205
85,151

63,351
99,865


11.


Deferred taxation




2023


£






At beginning of year
(23,970)


Charged to profit or loss
(1,117)



At end of year
(25,087)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(25,087)
(23,970)

(25,087)
(23,970)

Page 11

 
EXCELOTHENE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £121,314 (2022 - £150,847). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

At the balance sheet date, the company was due £101,529 (2022: £100,222) from the Director, RK Hatton.  The amount is unsecured, accrues interest at the official rate and is disclosed within other debtors falling due within one year.                                                                                                    
The company was due £178,092 (2022 £155,901) from the Director, G Jones. The amount is unsecured and accrues interest at the official rate and is disclosed within other debtors falling due within one year
The company was due £12,523 (2022: £16,727) from the Director, L Hanford.  The amount is unsecured and accrues interest at the official rate and is disclosed within other debtors falling due within one year.                                                                                                                                  At the balance sheet date, the company was due £13,349 (2022 £13,349) from a related company, SG108 Limited, and at the balance sheet date was due  £195,344 (2022 £nil) from a related company EL108 Limited.                                                                                                                               


14.


Controlling party

The directors control the company by virtue of their shareholding.

 
Page 12