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REGISTERED NUMBER: 04312474 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

Exib Limited

Exib Limited (Registered number: 04312474)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Exib Limited

COMPANY INFORMATION
for the Year Ended 31st January 2024







DIRECTORS: J F Mulhall
I C Russell





SECRETARY: J F Mulhall





REGISTERED OFFICE: Unit One Fourth Way
Wembley
Middlesex
HA9 0JL





REGISTERED NUMBER: 04312474 (England and Wales)





ACCOUNTANTS: Certax Accounting Harrow & Northolt
48 Clifton Avenue
Wembley
Middlesex
HA9 6BW

Exib Limited (Registered number: 04312474)

BALANCE SHEET
31st January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,155 48,847

CURRENT ASSETS
Stocks 5 75,365 106,247
Debtors 6 274,084 248,392
Cash in hand 146 146
349,595 354,785
CREDITORS
Amounts falling due within one year 7 747,692 575,491
NET CURRENT LIABILITIES (398,097 ) (220,706 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(352,942

)

(171,859

)

CREDITORS
Amounts falling due after more than
one year

8

19,700

57,200
NET LIABILITIES (372,642 ) (229,059 )

CAPITAL AND RESERVES
Called up share capital 10 115,000 115,000
Other reserves 11 5,000 5,000
Retained earnings 11 (492,642 ) (349,059 )
(372,642 ) (229,059 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Exib Limited (Registered number: 04312474)

BALANCE SHEET - continued
31st January 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st October 2024 and were signed on its behalf by:





J F Mulhall - Director


Exib Limited (Registered number: 04312474)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2024

1. GENERAL INFORMATION

Exib Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit One Fourth Way, Wembley, Middlesex, HA9 0JL

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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales 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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Exib Limited (Registered number: 04312474)

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

2. ACCOUNTING POLICIES - continued
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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st February 2023 40,195 53,318 12,948 29,085 135,546
Additions - 4,888 - 16,403 21,291
Disposals - - - (28,627 ) (28,627 )
At 31st January 2024 40,195 58,206 12,948 16,861 128,210
DEPRECIATION
At 1st February 2023 8,039 42,362 12,937 23,361 86,699
Charge for year - - - 6,692 6,692
Charge for the year - Owned - 7,768 - - 7,768
Charge written back - - - (26,143 ) (26,143 )
Impairments 8,039 - - - 8,039
At 31st January 2024 16,078 50,130 12,937 3,910 83,055
NET BOOK VALUE
At 31st January 2024 24,117 8,076 11 12,951 45,155
At 31st January 2023 32,156 10,956 11 5,724 48,847

Exib Limited (Registered number: 04312474)

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

5. STOCKS
2024 2023
£    £   
Stocks 61,336 57,181
Work-in-progress 14,029 49,066
75,365 106,247

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 84,168 40,304
Other debtors 37,589 132,996
Directors' current accounts 84,506 -
VAT 1,829 -
Prepayments and accrued income 65,992 75,092
274,084 248,392

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9)
129,308

100,194
Hire purchase contracts 4,236 -
Trade creditors 309,893 235,203
Tax - 32,793
Social security and other taxes 171,652 48,095
VAT - 42,644
Other creditors 3,878 8,659
Directors' current accounts 128,725 107,903
747,692 575,491

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 19,700 57,200

Exib Limited (Registered number: 04312474)

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

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 91,808 62,694
Bank loans 37,500 37,500
129,308 100,194

Amounts falling due between two and five years:
Bank loans - 2-5 years 19,700 57,200

10. CALLED UP SHARE CAPITAL

20242023
Allotted, called up and fully paid
33,334 'A' Ordinary shares of £1 each33,33433,334
33,333 'B' Ordinary shares of £1 each33,33333,333
33,333 'C' Ordinary shares of £1 each33,33333,333
5,000 'D' Ordinary shares of £1 each5,0005,000
5,000 'E' Ordinary shares of £1 each5,0005,000
5,000 'F' Ordinary shares of £1 each5,0005,000

115,000115,000



11. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1st February 2023 (349,059 ) 5,000 (344,059 )
Deficit for the year (143,583 ) (143,583 )
At 31st January 2024 (492,642 ) 5,000 (487,642 )

Exib Limited (Registered number: 04312474)

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

12. COMMITMENTS UNDER OPERATING LEASES

At 31 January 2023 the company had future lease payments under non-cancellable operating leases as follows:



2024 2023

Not later than 1 year 250,000 250,000
Later than 1 year and not later than 5 years 250,000 500,000


500,000 750,000


13. DIRECTORS PERSONAL GUARANTEES

Bank loans and overdrafts are secured by joint and several guarantees given by the directors up to £50,000.

14. RELATED PARTY TRANSACTIONS

Included within other debtors are amounts due from a shareholder, amounting to £1,184 (2023 - £6,562). This was the maximum amount outstanding during the year.

15. CONTROLLING PARTY

The company has no overall controlling party.

16. 20. DIRECTORS LOAN

Directors loans of £84,505.56 have been repaid at as 31st October 2024