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Company Registration Number:
11143873 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

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Contents of the Financial Statements

for the Period Ended 30 April 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

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Directors' report period ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Directors

The directors shown below have held office during the whole of the period from
1 May 2023 to 30 April 2024

Robert Kelly
Teresa Gronqvist


The director shown below has held office during the period of
16 June 2023 to 30 April 2024

Gareth Robinson


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
24 January 2025

And signed on behalf of the board by:
Name: Robert Kelly
Status: Director

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Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 15,960 26,908
Total fixed assets: 15,960 26,908
Current assets
Stocks: 4 2,937,612 1,764,620
Debtors: 5 341,646 255,391
Cash at bank and in hand: 559,959 218,737
Total current assets: 3,839,217 2,238,748
Creditors: amounts falling due within one year: 6 ( 1,841,993 ) ( 1,370,110 )
Net current assets (liabilities): 1,997,224 868,638
Total assets less current liabilities: 2,013,184 895,546
Creditors: amounts falling due after more than one year: 7 ( 13,508 ) ( 23,343 )
Provision for liabilities: ( 384,096 ) ( 167,796 )
Total net assets (liabilities): 1,615,580 704,407
Capital and reserves
Called up share capital: 20 20
Profit and loss account: 1,615,560 704,387
Total Shareholders' funds: 1,615,580 704,407

The notes form part of these financial statements

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Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 January 2025
and signed on behalf of the board by:

Name: Robert Kelly
Status: Director

The notes form part of these financial statements

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Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the balance sheet 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 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: Land & buildings 10% straight line Fixtures & fittings 25% straight line

    Other accounting policies

    Land and buildings Included within the net book value of land and buildings above is £13,812 (2023 - £16,258) in respect of short leasehold land and buildings. Going concern Based upon post balance sheet trading, further monies being introduced and the continued support of the Directors the financial statements have been prepared on a going concern basis. 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. Defined contribution pension obligation A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 5

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Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2023 24,444 42,795 67,239
Additions
Disposals
Revaluations
Transfers
At 30 April 2024 24,444 42,795 67,239
Depreciation
At 1 May 2023 8,186 32,145 40,331
Charge for year 2,444 8,504 10,948
On disposals
Other adjustments
At 30 April 2024 10,630 40,649 51,279
Net book value
At 30 April 2024 13,814 2,146 15,960
At 30 April 2023 16,258 10,650 26,908

EXCLUSIVE AUTOMOTIVE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Stocks

2024 2023
£ £
Stocks 2,937,612 1,764,620
Total 2,937,612 1,764,620

EXCLUSIVE AUTOMOTIVE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Debtors

2024 2023
£ £
Trade debtors 258,295 154,495
Prepayments and accrued income 639 639
Other debtors 82,712 100,257
Total 341,646 255,391

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Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 15,000 15,000
Amounts due under finance leases and hire purchase contracts 474,250 760,690
Trade creditors 976,917 351,942
Taxation and social security 81,155 56,964
Accruals and deferred income 15,770 15,770
Other creditors 278,901 169,744
Total 1,841,993 1,370,110

EXCLUSIVE AUTOMOTIVE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 13,508 23,343
Total 13,508 23,343

EXCLUSIVE AUTOMOTIVE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

8. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
A total amount of £278,901 was owing to the Directors by the Company (2023: £169,744)
£
Balance at 30 April 2023 169,744
Advances or credits made: 109,157
Advances or credits repaid:
Balance at 30 April 2024 278,901