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REGISTERED NUMBER: 10613048 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Exsellence Limited

Exsellence Limited (Registered number: 10613048)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 11

Exsellence Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: R H Davies





REGISTERED OFFICE: Office One, Floor one
Maxwell House
Liverpool Innovation Park
Liverpool
L7 9NJ





REGISTERED NUMBER: 10613048 (England and Wales)





ACCOUNTANTS: Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ

Exsellence Limited (Registered number: 10613048)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,813 5,485
Investments 6 38,250 38,250
40,063 43,735

CURRENT ASSETS
Debtors 7 1,442,294 1,475,365
Cash at bank and in hand 1,480,401 1,333,481
2,922,695 2,808,846
CREDITORS
Amounts falling due within one year 8 1,961,024 2,054,919
NET CURRENT ASSETS 961,671 753,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,001,734

797,662

PROVISIONS FOR LIABILITIES 282,868 213,593
NET ASSETS 718,866 584,069

Exsellence Limited (Registered number: 10613048)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 718,766 583,969
SHAREHOLDERS' FUNDS 718,866 584,069

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 10 March 2025 and were signed by:





R H Davies - Director


Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Exsellence Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Fair value of investments

The fair value of investments resulting in ownership of less than 20% of a company's voting share capital is assessed on an annual basis. For shares that are not publicly traded, the assessment takes into account the reliability of the valuation placed on the company by the directors of that company.

(iii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

(iv) Car damage provisioning

The company makes an estimate of the value of repairs due to be paid to the provider of the company's fleet of vehicles at the end of the operating lease agreement. The estimate is based on prior experience of such end of lease repair charges and the assessed condition of cars returned to the provider in-year when an employee leaves their employment.

(v) Clawback provisioning

The company's long-term contracts contain clauses for the recoup of all or part of the value of the contract if a budget underspend is realised at annual review points. A provision is provided if the director assesses that it would not be possible to eliminate the budget underspend prior to the review point. The assessment is based on the amount due to be spent in upcoming tactical campaigns and the proximity to the review point.

(vi) Deferred tax provisioning


Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued
Deferred tax is recognised on all timing differences at the reporting date. The company's timing differences arise in the differing tax and accounting carrying values of tangible assets and in unrealised gains and losses on equity investments. Judgement is exercised when determining if and when the reversal of the timing difference is expected to occur.

Turnover and income recognition
Turnover represents net invoiced sales of services, net of trade discounts and excluding value added tax.

The company derives the majority of its income from contracts of more than one year in length. Income from such contracts is recognised evenly over the term of the contract as services are provided and after deducting a provision for clawbacks.

The income from individual assignments of less than one year in length is recognised when the company obtains the right to that income, which occurs upon entering into a non-cancellable agreement to provide services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Investments
Investments resulting in ownership of less than 20% of a company's share capital are held at fair value. The fair value of Investments is assessed on an annual basis. Gains and losses arising on the revaluation of investments to fair value are recognised in the profit and loss account.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

(i) Cash and cash equivalents

These comprise cash at bank and other short-term deposits.

(ii) Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asset is impaired.

(iii) Trade creditors

Trade creditors are not interest bearing and are stated at their nominal value.


Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued
Current tax
Current tax is the amount of income tax payable in respect of taxable profit for the year. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Deferred tax
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 and that are expected to apply to the reversal of the timing difference.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs
The company contributes to personal pension plans and the pension charge represents the amounts payable by the company during the year.

Employee benefits
Short term benefits, including holiday pay and other non-monetary benefits, are recognised as an expense in the period in which the service is received.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the outflows expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The subsequent increase in the provision due to passage of time is recognised as a finance cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2023 - 50 ) .

Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 2,308 1,247 13,798 17,353
DEPRECIATION
At 1 July 2023 1,224 686 9,958 11,868
Charge for year 408 249 3,015 3,672
At 30 June 2024 1,632 935 12,973 15,540
NET BOOK VALUE
At 30 June 2024 676 312 825 1,813
At 30 June 2023 1,084 561 3,840 5,485

6. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 38,250
NET BOOK VALUE
At 30 June 2024 38,250
At 30 June 2023 38,250

Cost or valuation at 30 June 2024 is represented by:

Other
investment
£   
Valuation in 2020 38,250
Valuation in 2021 53,000
Valuation in 2022 (53,000 )
38,250

Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 38,250 38,250

Dividends received during the year in respect of the above investments amounted to £nil (2023 - £nil).

The investments held by the company are in the form of unlisted shares. The shares constitute less than 20% of the issued share capital of one company. The fair value of the shares has been provided by the directors of that company.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,307,876 1,376,611
Other debtors 134,418 98,754
1,442,294 1,475,365

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.6.24 30.6.23
£    £   
Trade creditors 167,397 145,923
Taxation and social security 343,853 332,132
Other creditors 1,449,774 1,576,864
1,961,024 2,054,919

9. OTHER FINANCIAL COMMITMENTS

The company is committed to pay £100,908, under non-cancellable operating leases. Of that amount, £84,276 falls due in the 12 months immediately following the balance sheet date.

10. OFF-BALANCE SHEET ARRANGEMENTS

The company has no off-balance sheet arrangements other than operating leases.

Exsellence Limited (Registered number: 10613048)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R H Davies.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Exsellence Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Exsellence Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet 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 director of Exsellence Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Exsellence Limited and state those matters that we have agreed to state to the director of Exsellence Limited 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 Exsellence Limited and its director for our work or for this report.

It is your duty to ensure that Exsellence Limited 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 Exsellence Limited. You consider that Exsellence Limited 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 Exsellence Limited. 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.






Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ


Date: .............................................