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Registration number: 04297570

Exonetric Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Exonetric Consulting Limited

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Exonetric Consulting Limited

Company Information

Director

Dr Mark Blackman

Company secretary

Mr Peter Saxton

Registered office

362 Church Road
London
SW19 2QF

Accountants

Peter Saxton & Co.
Accountants362 Church Road
London
SW19 2QF

 

Exonetric Consulting Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

58,978

52,635

Cost of sales

 

(47,319)

(43,022)

Gross profit

 

11,659

9,613

Administrative expenses

 

(11,592)

(13,291)

Operating profit/(loss)

 

67

(3,678)

Profit/(loss) before tax

67

(3,678)

Profit/(loss) for the financial year

 

67

(3,678)

Retained earnings brought forward

 

(27,019)

(23,341)

Retained earnings carried forward

 

(26,952)

(27,019)

 

Exonetric Consulting Limited

(Registration number: 04297570)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

31,463

25,150

Cash at bank and in hand

 

12,131

16,492

 

43,594

41,642

Creditors: Amounts falling due within one year

5

(70,523)

(68,638)

Net liabilities

 

(26,929)

(26,996)

Capital and reserves

 

Called up share capital

6

23

23

Retained earnings

(26,952)

(27,019)

Shareholders' deficit

 

(26,929)

(26,996)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 February 2025
 

.........................................
Dr Mark Blackman
Director

 

Exonetric Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
362 Church Road
London
SW19 2QF

The principal place of business is:
41 Stocton Road
Guildford
Surrey
GU1 1HH

These financial statements were authorised for issue by the director on 9 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Depreciation

Asset class

Depreciation method and rate

Plant and machinery

flat rate 25%

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.

 

Exonetric Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Debtors

Current

2024
£

2023
£

Trade debtors

18,131

11,704

Other debtors

13,332

13,446

 

31,463

25,150

 

Exonetric Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

15,144

15,144

Trade creditors

 

22,120

20,741

Taxation and social security

 

7,304

7,304

Other creditors

 

25,955

25,449

 

70,523

68,638

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

23

23

23

23

       

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

15,144

15,144