Company registration number 08321779 (England and Wales)
EXSF LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
EXSF LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EXSF LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
1,276,911
1,276,911
Current assets
Debtors
3
116,118
109,643
Creditors: amounts falling due within one year
5
(1,377,964)
(1,372,991)
Net current liabilities
(1,261,846)
(1,263,348)
Net assets
15,065
13,563
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
14,965
13,463
Total equity
15,065
13,563
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 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 3 December 2024 and are signed on its behalf by:
Mr N C Hill
Mr R M Williams
Director
Director
Company registration number 08321779 (England and Wales)
EXSF LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
EXSF Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Simpkins Edwards LLP, The Summit, Woodwater Park, Pynes Hill, Exeter, EX2 5WS.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Equity instruments
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
EXSF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
116,118
109,643
4
Fixed asset investments
2024
2023
£
£
Investments
1,276,911
1,276,911
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2023 & 31 March 2024
1,276,911
Carrying amount
At 31 March 2024
1,276,911
At 31 March 2023
1,276,911
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,376,842
1,372,268
Taxation and social security
497
123
Other creditors
625
600
1,377,964
1,372,991
6
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two directors
2.00
109,643
115,930
2,644
(112,099)
116,118
109,643
115,930
2,644
(112,099)
116,118
EXSF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6
Directors' transactions
(Continued)
- 4 -
The loans to the directors are unsecured and deemed repayable on demand.