IRIS Accounts Production v24.3.0.553 03390651 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033906512023-06-30033906512024-06-30033906512023-07-012024-06-30033906512022-06-30033906512022-07-012023-06-30033906512023-06-3003390651ns15:EnglandWales2023-07-012024-06-3003390651ns14:PoundSterling2023-07-012024-06-3003390651ns10:Director12023-07-012024-06-3003390651ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3003390651ns10:SmallEntities2023-07-012024-06-3003390651ns10:AuditExemptWithAccountantsReport2023-07-012024-06-3003390651ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3003390651ns10:FullAccounts2023-07-012024-06-3003390651ns10:Director22023-07-012024-06-3003390651ns10:CompanySecretary12023-07-012024-06-3003390651ns10:RegisteredOffice2023-07-012024-06-3003390651ns5:CurrentFinancialInstruments2024-06-3003390651ns5:CurrentFinancialInstruments2023-06-3003390651ns5:Non-currentFinancialInstruments2024-06-3003390651ns5:Non-currentFinancialInstruments2023-06-3003390651ns5:ShareCapital2024-06-3003390651ns5:ShareCapital2023-06-3003390651ns5:RetainedEarningsAccumulatedLosses2024-06-3003390651ns5:RetainedEarningsAccumulatedLosses2023-06-3003390651ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-06-3003390651ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-3003390651ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-06-3003390651ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3003390651ns5:Secured2024-06-3003390651ns5:Secured2023-06-30
REGISTERED NUMBER: 03390651 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED

EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 03390651)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D G Pope
L M A Pope





SECRETARY: D G Pope





REGISTERED OFFICE: 12 Wartling Close
St Leonards on Sea
East Sussex
TN38 9QX





REGISTERED NUMBER: 03390651 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 03390651)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 859,333 823,985

CURRENT ASSETS
Stocks 5 285,789 280,584
Cash at bank 4,827 3,451
290,616 284,035
CREDITORS
Amounts falling due within one year 6 925 693
NET CURRENT ASSETS 289,691 283,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,149,024

1,107,327

CREDITORS
Amounts falling due after more than one
year

7

(497,998

)

(430,552

)

PROVISIONS FOR LIABILITIES (81,298 ) (81,298 )
NET ASSETS 569,728 595,477

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 568,728 594,477
SHAREHOLDERS' FUNDS 569,728 595,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 6 November 2024 and were signed on its behalf by:



D G Pope - Director


EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 03390651)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Exess Property and Financial Services 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.

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.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Revenue is recognised at the point that rental income becomes due.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

No depreciation is provided in respect of investment properties in accordance with the Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view. Investment properties are stated at their market value at the balance sheet date.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 823,985
Additions 35,348
At 30 June 2024 859,333
NET BOOK VALUE
At 30 June 2024 859,333
At 30 June 2023 823,985

EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 03390651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2007 334,486
Valuation in 2012 (20,914 )
Valuation in 2016 174,536
Valuation in 2019 (27,173 )
Valuation in 2022 17,288
Cost 381,110
859,333

If Investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 381,110 345,761

Investment property was valued on an open market basis on 30 June 2024 by by the directors .

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 285,789 280,584

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Social security and other taxes (47 ) (127 )
Accrued expenses 972 820
925 693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 83,224 90,371
Director's current account 414,774 340,181
497,998 430,552

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 83,224 90,371

The bank holds mortgage charges over the investment properties and a fixed and floating charge over all other assets in respect of all monies due to them by the company.

EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 03390651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. RELATED PARTY DISCLOSURES

The amount owed to the directors from the company at the balance sheet date was £414,774 (2023 : £340,181). There are no terms attached to this loan and no interest is charged.
Rent was paid to the directors during the year totalling £4,500 in relation to office space.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EXESS PROPERTY AND FINANCIAL SERVICES
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Exess Property and Financial Services Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Exess Property and Financial Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Exess Property and Financial Services Limited and state those matters that we have agreed to state to the Board of Directors of Exess Property and Financial Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exess Property and Financial Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Exess Property and Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Exess Property and Financial Services Limited. You consider that Exess Property and Financial Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Exess Property and Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


6 November 2024