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Company Registration No. 08188341 (England and Wales)
Exentriq Ltd Unaudited accounts for the year ended 30 August 2023
Exentriq Ltd Unaudited accounts Contents
Page
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Exentriq Ltd Company Information for the year ended 30 August 2023
Director
Massimo Mistretta
Company Number
08188341 (England and Wales)
Registered Office
124 City Road London EC1V 2NX
Accountants
Cloudkeepers London Ltd 124 City Road London EC1V 2NX
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Exentriq Ltd Statement of financial position as at 30 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
28,649 
26,445 
Current assets
Debtors
277,223 
220,467 
Cash at bank and in hand
848,735 
357,489 
1,125,958 
577,956 
Creditors: amounts falling due within one year
(21,497)
(21,497)
Net current assets
1,104,461 
556,459 
Total assets less current liabilities
1,133,110 
582,904 
Creditors: amounts falling due after more than one year
(452,185)
(107,294)
Net assets
680,925 
475,610 
Capital and reserves
Share premium
1,000 
1,000 
Profit and loss account
679,925 
474,610 
Shareholders' funds
680,925 
475,610 
For the year ending 30 August 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 director acknowledges his 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 and authorised for issue on 20 November 2024 and were signed on its behalf by
Massimo Mistretta Director Company Registration No. 08188341
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Exentriq Ltd Notes to the Accounts for the year ended 30 August 2023
1
Statutory information
Exentriq Ltd is a private company, limited by shares, registered in England and Wales, registration number 08188341. The registered office is 124 City Road, London, EC1V 2NX.
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
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis, notwithstanding the net asset deficiency, on the basis that the company will be supported financially by the shareholder to enable the company to meet its financial liabilities as they fall due.
Foreign exchange
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Plant & machinery
25% straight line
Computer equipment
25% straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Exentriq Ltd Notes to the Accounts for the year ended 30 August 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Recognition and measurement Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in Profit or Loss Account. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Exentriq Ltd Notes to the Accounts for the year ended 30 August 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 31 August 2022
38,271 
Additions
7,253 
At 30 August 2023
45,524 
Depreciation
At 31 August 2022
11,826 
Charge for the year
5,049 
At 30 August 2023
16,875 
Net book value
At 30 August 2023
28,649 
At 30 August 2022
26,445 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
277,223 
220,467 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
21,497 
21,497 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
90,101 
107,294 
Deferred income
362,084 
- 
452,185 
107,294 
8
Transactions with related parties
Summary of transactions with other related parties At the year end, the balance due to the shareholder was £107,294 (2021 :£ 74,571). The loan was interest free.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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