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REGISTERED NUMBER: 10096592 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Exa Group Uk Ltd

Exa Group Uk Ltd (Registered number: 10096592)






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


Exa Group Uk Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs S E Lawrence
Mr P Pratesi





REGISTERED OFFICE: Fifth Floor
Gate House
1 ST John's Square
London
EC1M 4PN





REGISTERED NUMBER: 10096592 (England and Wales)





AUDITORS: Nordens Audit Limited
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Exa Group Uk Ltd (Registered number: 10096592)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,207 820

CURRENT ASSETS
Debtors 5 8,199,416 3,108,279
Cash at bank 5,767,493 4,142,907
13,966,909 7,251,186
CREDITORS
Amounts falling due within one year 6 11,863,597 6,346,358
NET CURRENT ASSETS 2,103,312 904,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,117,519

905,648

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,117,419 905,548
2,117,519 905,648

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 5 November 2024 and were signed on its behalf by:





Mrs S E Lawrence - Director


Exa Group Uk Ltd (Registered number: 10096592)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Exa Group Uk Ltd 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.

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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 20% straight line

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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.


Exa Group Uk Ltd (Registered number: 10096592)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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.

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.

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.

Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.

The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 1 ) .

Exa Group Uk Ltd (Registered number: 10096592)

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 10,370
Additions 16,133
At 31 December 2023 26,503
DEPRECIATION
At 1 January 2023 9,550
Charge for year 2,746
At 31 December 2023 12,296
NET BOOK VALUE
At 31 December 2023 14,207
At 31 December 2022 820

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 843,372 748,466
Other debtors 7,356,044 2,359,813
8,199,416 3,108,279

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 936,463 1,266,974
Tax 394,518 54,759
Social security and other taxes 82,755 41,209
VAT 244,991 677,391
Other creditors 10,175,647 3,083,623
Accrued expenses 29,223 1,222,402
11,863,597 6,346,358

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

The Report of the Auditors was unqualified.

Lorraine Curtis (Senior Statutory Auditor)
for and on behalf of Nordens Audit Limited

8. RELATED PARTY DISCLOSURES

As a wholly owned subsidiary the company is exempt under Section 1A of FRS 102 from the requirement to disclose transactions with its parent and other wholly owned subsidiaries of the group headed by Exa Srl.

Exa Group Uk Ltd (Registered number: 10096592)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CONTROLLING PARTY

The controlling party is not known.

The ultimate controlling party is Exa S.r.l..

The immediate holding company is Exa Srl, a company incorporated in Italy, having its registered office at Via Donat Cattin, 52100 Arezzo, Italy. The consolidated financial statements are available at the aforementioned address.