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Company Registration No. 12356795 (England and Wales)
EXACT PROCUREMENT SOLUTIONS LTD Unaudited accounts for the year ended 31 December 2023
EXACT PROCUREMENT SOLUTIONS LTD Unaudited accounts Contents
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EXACT PROCUREMENT SOLUTIONS LTD Company Information for the year ended 31 December 2023
Directors
Mohammad Yasin Sharif Sana Zafar
Company Number
12356795 (England and Wales)
Registered Office
20 Burleigh Street Burnley Lancashire BB12 0DA United Kingdom
Accountants
SAGHIR AHMAD & COMPANY, INTERNATIONAL ACCOUNTANTS First Floor, Suite 2, The Point 173 - 175 Cheetham Hill MANCHESTER M8 8LG
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EXACT PROCUREMENT SOLUTIONS LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,249 
8,232 
Current assets
Cash at bank and in hand
40,283 
36,485 
Creditors: amounts falling due within one year
(29,715)
(31,831)
Net current assets
10,568 
4,654 
Net assets
17,817 
12,886 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
17,617 
12,686 
Shareholders' funds
17,817 
12,886 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by
Mohammad Yasin Sharif Director Company Registration No. 12356795
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EXACT PROCUREMENT SOLUTIONS LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
EXACT PROCUREMENT SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 12356795. The registered office is 20 Burleigh Street, Burnley, Lancashire, BB12 0DA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Per annum reducing balance method
Computer equipment
20% Per annum reducing balance method
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
9,170 
7,335 
16,505 
Additions
- 
827 
827 
At 31 December 2023
9,170 
8,162 
17,332 
Depreciation
At 1 January 2023
4,408 
3,865 
8,273 
Charge for the year
1,645 
165 
1,810 
At 31 December 2023
6,053 
4,030 
10,083 
Net book value
At 31 December 2023
3,117 
4,132 
7,249 
At 31 December 2022
4,762 
3,470 
8,232 
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EXACT PROCUREMENT SOLUTIONS LTD Notes to the Accounts for the year ended 31 December 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
10,697 
19,361 
Loans from directors
14,443 
8,482 
Accruals
4,575 
3,988 
29,715 
31,831 
6
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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