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REGISTERED NUMBER: 04410812 (England and Wales)














EXCELECT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






EXCELECT LIMITED (REGISTERED NUMBER: 04410812)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EXCELECT LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Prof K Saeb-Parsy





REGISTERED OFFICE: 7 Sycamore Close
Cambridge
CB1 8PG





REGISTERED NUMBER: 04410812 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

EXCELECT LIMITED (REGISTERED NUMBER: 04410812)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 9,259 5,968
Tangible assets 6 20,162 27,808
29,421 33,776

CURRENT ASSETS
Debtors 7 114,984 113,278
Cash at bank 33,885 72,492
148,869 185,770
CREDITORS
Amounts falling due within one year 8 6,175 21,369
NET CURRENT ASSETS 142,694 164,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,115

198,177

CREDITORS
Amounts falling due after more than one
year

9

(4,667

)

(8,667

)

PROVISIONS FOR LIABILITIES (3,831 ) (5,284 )
NET ASSETS 163,617 184,226

CAPITAL AND RESERVES
Called up, paid and allotted share capital 2 2
Retained earnings 163,615 184,224
SHAREHOLDERS' FUNDS 163,617 184,226

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 director acknowledges his 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.

EXCELECT LIMITED (REGISTERED NUMBER: 04410812)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2024 and were signed by:





Prof K Saeb-Parsy - Director


EXCELECT LIMITED (REGISTERED NUMBER: 04410812)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Excelect 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, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Income recognition
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

EXCELECT LIMITED (REGISTERED NUMBER: 04410812)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023 8,723
Additions 6,150
At 31 March 2024 14,873
AMORTISATION
At 1 April 2023 2,755
Amortisation for year 2,859
At 31 March 2024 5,614
NET BOOK VALUE
At 31 March 2024 9,259
At 31 March 2023 5,968

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 3,141 8,860 44,548 56,549
Additions 778 - - 778
Disposals - - (2,753 ) (2,753 )
At 31 March 2024 3,919 8,860 41,795 54,574
DEPRECIATION
At 1 April 2023 628 7,987 20,126 28,741
Charge for year 784 850 5,877 7,511
Eliminated on disposal - - (1,840 ) (1,840 )
At 31 March 2024 1,412 8,837 24,163 34,412
NET BOOK VALUE
At 31 March 2024 2,507 23 17,632 20,162
At 31 March 2023 2,513 873 24,422 27,808

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 114,984 113,278

EXCELECT LIMITED (REGISTERED NUMBER: 04410812)

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 4,000 4,000
Taxation and social security 577 16,010
Other creditors 1,598 1,359
6,175 21,369

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,667 8,667

10. RELATED PARTY DISCLOSURES

The director operates a loan account with the company. During the year, additional loans in aggregate of £204 were made the company by the director. At the year end, the director was owed £828.