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REGISTERED NUMBER: 08284228 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CELER TECHNOLOGIES LIMITED

CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CELER TECHNOLOGIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B P Cuthbert
S D Sue
F M Cuthbert
C Y Ling
T Freeman





REGISTERED OFFICE: Jamesons House
Compton Way
Witney
Oxfordshire
OX28 3AB





REGISTERED NUMBER: 08284228 (England and Wales)





AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
and Statutory Auditor
264 Banbury Road
Oxford
OX2 7DY

CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,981 49,896
Investments 5 4,704 4,704
38,685 54,600

CURRENT ASSETS
Debtors 6 1,728,143 1,850,004
Cash at bank 2,316,379 3,399,882
4,044,522 5,249,886
CREDITORS
Amounts falling due within one year 7 712,581 835,655
NET CURRENT ASSETS 3,331,941 4,414,231
TOTAL ASSETS LESS CURRENT LIABILITIES 3,370,626 4,468,831

PROVISIONS FOR LIABILITIES - 8,089
NET ASSETS 3,370,626 4,460,742

CAPITAL AND RESERVES
Called up share capital 9 278 278
Capital redemption reserve 22 22
Retained earnings 3,370,326 4,460,442
SHAREHOLDERS' FUNDS 3,370,626 4,460,742

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 3 September 2024 and were signed on its behalf by:





F M Cuthbert - Director


CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

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

1. STATUTORY INFORMATION

Celer Technologies 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 as modified by the revaluation of certain assets.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Consolidation exemption
The financial statements contain information about Celer Technologies Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is generated from either fixed monthly contract values of variable contracts dependant on the usage in the period in which it relates as well as adhoc services. Income is recognised evenly over the relevant period it relates to and when the service is provided. Turnover is shown net of discounts, rebates and value added taxes.

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 etc - 33% on cost and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.


CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs, other post-retirement and employee 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.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part fo the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of the employee or to provide termination benefits

Investments
Investments are recognised at market value based on an independent valuation of the shares.

CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to the profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Judgments and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors' are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements have had the most significant effect on the amounts recognised in the financial statements.

Contract incentives

The company has several fixed term contracts spanning more than one year that include periodic price increases. The directors apply judgement to determine whether these increases represent inflationary and/or expected product improvements or whether they represent incentives provided to customers. When it is deemed that these periodic increases represent inflationary and/or expected product improvements, income is recognised in line with the invoice. However, where the price increases represent the unwinding of incentives, the relevant incentive is spread over the term of the contract.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 25 ) .

CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 116,249
Additions 19,734
Disposals (1,649 )
At 31 December 2023 134,334
DEPRECIATION
At 1 January 2023 66,353
Charge for year 35,649
Eliminated on disposal (1,649 )
At 31 December 2023 100,353
NET BOOK VALUE
At 31 December 2023 33,981
At 31 December 2022 49,896

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 1,228 3,476 4,704
NET BOOK VALUE
At 31 December 2023 1,228 3,476 4,704
At 31 December 2022 1,228 3,476 4,704

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2020 - 1,886,404 1,886,404
Valuation in 2021 - (1,317,655 ) (1,317,655 )
Valuation in 2022 - (568,749 ) (568,749 )
Cost 1,228 3,476 4,704
1,228 3,476 4,704

CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,424,731 1,569,632
Amounts owed by group undertakings - 5,914
Other debtors 112,189 81,626
Prepayments and accrued income 191,223 192,832
1,728,143 1,850,004

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 320,339 406,384
Amounts owed to group undertakings - 59
Social security and other taxes 118,055 219,998
Other creditors 22,686 23,211
Directors' loan accounts 708 396
Accrued expenses 250,793 185,607
712,581 835,655

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 141,000 100,100

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
184 A Ordinary £1 184 184
9,700,000 B Ordinary £0.00001 94 94
278 278

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Stephen Howard Neal FCCA FCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited

CELER TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08284228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption provided by FRS102 Section 33, not to disclose transactions and outstanding balances with 100% directly or indirectly controlled subsidiary undertakings which form part of the Celer group.

As at the year end the company owed one of its directors £708 (2022: £396), this loan is interest free and repayable on demand.

12. POST BALANCE SHEET EVENTS

Since the year end, the company has agreed a new operating lease for the business premises for £22,650 plus VAT per month with the term ending on 30 April 2025