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Managed Exit Limited

Registered Number
06631310
(England and Wales)

Unaudited Financial Statements for the Period ended
30 April 2024

Managed Exit Limited
Company Information
for the period from 1 April 2023 to 30 April 2024

Director

Gareth Martin

Registered Address

266 Kingsland Road
London
E8 4DG

Registered Number

06631310 (England and Wales)
Managed Exit Limited
Balance Sheet as at
30 April 2024

Notes

30 Apr 2024

31 Mar 2023

£

£

£

£

Fixed assets
Tangible assets3222,402270,403
222,402270,403
Current assets
Debtors42,347,0972,007,902
Cash at bank and on hand897,4311,969,957
3,244,5283,977,859
Creditors amounts falling due within one year5(1,229,557)(2,664,502)
Net current assets (liabilities)2,014,9711,313,357
Total assets less current liabilities2,237,3731,583,760
Provisions for liabilities6(36,069)(39,524)
Net assets2,201,3041,544,236
Capital and reserves
Called up share capital22
Profit and loss account2,201,3021,544,234
Shareholders' funds2,201,3041,544,236
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
Gareth Martin
Director
Registered Company No. 06631310
Managed Exit Limited
Notes to the Financial Statements
for the period ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year10091
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 23310,531133,155110,964391,254945,904
Additions--9,93841,79951,737
Disposals-(61,979)--(61,979)
At 30 April 24310,53171,176120,902433,053935,662
Depreciation and impairment
At 01 April 23259,220104,60198,637213,043675,501
Charge for year13,6302,3755,91458,20880,127
On disposals-(42,368)--(42,368)
At 30 April 24272,85064,608104,551271,251713,260
Net book value
At 30 April 2437,6816,56816,351161,802222,402
At 31 March 2351,31128,55412,327178,211270,403
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,960,5371,876,854
Amounts owed by group undertakings39,64828,015
Other debtors346,91286,013
Prepayments and accrued income-17,020
Total2,347,0972,007,902
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables183,30162,315
Amounts owed to related parties198,596198,596
Taxation and social security540,9661,125,970
Other creditors237,4341,217,720
Accrued liabilities and deferred income69,26059,901
Total1,229,5572,664,502
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)36,06939,524
Total36,06939,524
7.Related party transactions
At the year end, the company owed Gareth Martin, the director, £191,200 (2023 - £15,762 owed to the company) and Richard Morley, a director of the holding company, owed the company £10,000 (2023 - Nil) which was repaid shortly after the year-end.