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REGISTERED NUMBER: 01382419 (England and Wales)















EXCELSIOR PANELLING SYSTEMS LTD

Unaudited Financial Statements for the Year Ended 31 May 2024






EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

EXCELSIOR PANELLING SYSTEMS LTD

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S A Sanders
R P Gallagher
RP Gallagher
TL Gallagher





SECRETARY: S A Sanders





REGISTERED OFFICE: Unit 2
Woodside Industrial Estate
Pedmore Road
Dudley
West Midlands
DY2 0RL





REGISTERED NUMBER: 01382419 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 715,463 869,906

CURRENT ASSETS
Stocks 570,384 514,957
Debtors 5 2,374,678 2,553,736
Cash at bank and in hand 498,639 199,050
3,443,701 3,267,743
CREDITORS
Amounts falling due within one year 6 1,894,087 1,815,158
NET CURRENT ASSETS 1,549,614 1,452,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,265,077

2,322,491

CREDITORS
Amounts falling due after more than one
year

7

(288,706

)

(423,992

)

PROVISIONS FOR LIABILITIES (119,413 ) (157,411 )
NET ASSETS 1,856,958 1,741,088

CAPITAL AND RESERVES
Called up share capital 630 630
Capital redemption reserve 37 37
Retained earnings 1,856,291 1,740,421
1,856,958 1,741,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Balance Sheet - continued
31 May 2024


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 12 February 2025 and were signed on its behalf by:




R P Gallagher - Director



S A Sanders - Director


EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Excelsior Panelling Systems Ltd 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.

Turnover
Turnover is recognised on dispatch of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over the life of the lease
Improvements to property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 64 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 June 2023 6,250 212,286 1,151,123
Additions - - 19,638
Disposals - - (243,371 )
Reversal of impairments - - (53,125 )
At 31 May 2024 6,250 212,286 874,265
DEPRECIATION
At 1 June 2023 4,167 142,170 773,786
Charge for year 520 9,265 24,400
Eliminated on disposal - - (240,220 )
At 31 May 2024 4,687 151,435 557,966
NET BOOK VALUE
At 31 May 2024 1,563 60,851 316,299
At 31 May 2023 2,083 70,116 377,337

EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 44,939 458,922 183,118 2,056,638
Additions - 18,691 21,810 60,139
Disposals (16,130 ) (10,740 ) (104,484 ) (374,725 )
Reversal of impairments - - - (53,125 )
At 31 May 2024 28,809 466,873 100,444 1,688,927
DEPRECIATION
At 1 June 2023 36,154 117,186 113,269 1,186,732
Charge for year 1,757 89,717 15,143 140,802
Eliminated on disposal (15,733 ) (7,719 ) (90,398 ) (354,070 )
At 31 May 2024 22,178 199,184 38,014 973,464
NET BOOK VALUE
At 31 May 2024 6,631 267,689 62,430 715,463
At 31 May 2023 8,785 341,736 69,849 869,906

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 452,675 374,537 827,212
Additions - 18,691 18,691
At 31 May 2024 452,675 393,228 845,903
DEPRECIATION
At 1 June 2023 156,780 75,146 231,926
Charge for year - 79,131 79,131
At 31 May 2024 156,780 154,277 311,057
NET BOOK VALUE
At 31 May 2024 295,895 238,951 534,846
At 31 May 2023 295,895 299,391 595,286

EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,367,788 1,741,792
Amounts owed by group undertakings 846,228 632,165
Other debtors 66 66
VAT 62,609 114,779
Prepayments 97,987 64,934
2,374,678 2,553,736

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 142,232 126,414
Trade creditors 1,340,090 1,494,330
Tax 153,280 33,955
Social security and other taxes 78,021 59,028
Other creditors 143,684 80,610
Accrued expenses 36,780 20,821
1,894,087 1,815,158

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 288,706 423,992

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 142,232 126,414
Between one and five years 288,706 423,992
430,938 550,406

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 95,000 95,000
Between one and five years 110,833 205,833
205,833 300,833

EXCELSIOR PANELLING SYSTEMS LTD (REGISTERED NUMBER: 01382419)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 430,938 550,406

10. RELATED PARTY DISCLOSURES

included within debtors is an amount of £846,228 (2023 £632,165) owed by EPS Group Holdings Limited, the parent company of this company.

11. ULTIMATE CONTROLLING PARTY

The controlling party is EPS Group Holdings Limited.

The ultimate controlling party is the directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Excelsior Panelling Systems Ltd


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 Excelsior Panelling Systems Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Excelsior Panelling Systems Ltd, 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 Excelsior Panelling Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Excelsior Panelling Systems Ltd, 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 Excelsior Panelling Systems Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Excelsior Panelling Systems Ltd 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 profit of Excelsior Panelling Systems Ltd. You consider that Excelsior Panelling Systems Ltd 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 Excelsior Panelling Systems Ltd. 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.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


17 February 2025