Company registration number 07539177 (England and Wales)
EXSIM LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EXSIM LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
EXSIM LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
23,655
Current assets
Stocks
-
1,347
Debtors
5
15,870
Cash at bank and in hand
59,769
76,986
Creditors: amounts falling due within one year
6
(15,737)
(116,378)
Net current liabilities
(15,737)
(39,392)
Net liabilities
(15,737)
(15,737)
Capital and reserves
Called up share capital
3,692
3,692
Share premium account
95,040
95,040
Profit and loss reserves
(114,469)
(114,469)
Total equity
(15,737)
(15,737)
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr A Tingle
Director
Company registration number 07539177 (England and Wales)
EXSIM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Exsim Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, Highwall Business Park, Tetron Way, Swadlincote, DE11 0AF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Exsim Ltd is a wholly owned subsidiary of The Events House Limited and the results of Exsim Ltd are not included in the consolidated financial statements of The Events House Limited as the group qualifies as a small group.
1.2
Going concern
The company is considered to be a going concern given the continued support of The Events House Limited which is the parent company.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10%-50% Straight line
Motor vehicles
25% Straight line
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
EXSIM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements 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.
3
Employees
The average monthly number of persons (excluding directors) employed by the company during the year was 0 (2022 - 0).
The directors are remunerated by the parent company The Events House Limited.
2023
2022
Number
Number
Total
EXSIM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
66,241
Disposals
(66,241)
At 31 December 2023
Depreciation and impairment
At 1 January 2023
42,586
Transfers
(42,586)
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
23,655
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
13,250
Corporation tax recoverable
636
Other debtors
1,984
15,870
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,909
Amounts owed to group undertakings and undertakings in which the company has a participating interest
15,737
58,243
Taxation and social security
9,442
Other creditors
32,784
15,737
116,378
7
Parent company
The parent company of Exsim Ltd is The Events House Limited and its registered office is Unit 6, Highwall Business Park, Tetron Way, Swadlingcote, DE11 0AF.