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REGISTERED NUMBER: 06292874 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Exceptio Limited

Exceptio Limited (Registered number: 06292874)






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 Certified Accountants' Report 7

Exceptio Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: R Horsley





REGISTERED OFFICE: Station Lane
Asfordby
Melton Mowbray
Leicestershire
LE14 3SL





REGISTERED NUMBER: 06292874 (England and Wales)





ACCOUNTANTS: Celerica Ltd
Accountants
First Floor
The Old Chapel
9 Kempson Road
Leicester
LE2 8AN

Exceptio Limited (Registered number: 06292874)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,377,934 973,546

CURRENT ASSETS
Stocks 157,728 160,454
Debtors 5 794,864 713,586
Cash at bank 512,729 758,452
1,465,321 1,632,492
CREDITORS
Amounts falling due within one year 6 1,186,270 1,270,949
NET CURRENT ASSETS 279,051 361,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,656,985

1,335,089

CREDITORS
Amounts falling due after more than one
year

7

(175,834

)

(114,789

)

PROVISIONS FOR LIABILITIES (50,053 ) (18,187 )
NET ASSETS 1,431,098 1,202,113

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,430,998 1,202,013
SHAREHOLDERS' FUNDS 1,431,098 1,202,113

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.

Exceptio Limited (Registered number: 06292874)

Balance Sheet - continued
30 June 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 director and authorised for issue on 19 November 2024 and were signed by:





R Horsley - Director


Exceptio Limited (Registered number: 06292874)

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

1. STATUTORY INFORMATION

Exceptio 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The nature of the company's operations and principle activities are that of the being an importer and distributor of hosiery.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound (£).

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Motor vehicles - 25% on cost

Depreciation has not been provided on the freehold land and buildings. The freehold land and buildings are maintained in a continual state of sound repair; the directors' consider that the life of the land and buildings is so long and the residual value, based upon current values is so high, that the depreciation is immaterial. On this basis, any depreciation charge under the requirements of the Accounting Standard FRS 102 (section 17) Financial Reporting Standard and the Companies Act 2006 would be immaterial and no depreciation has been charged.

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.


Exceptio Limited (Registered number: 06292874)

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

2. ACCOUNTING POLICIES - continued
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.

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 855,546 335,707 50,181 1,241,434
Additions 161,257 59,354 255,960 476,571
At 30 June 2024 1,016,803 395,061 306,141 1,718,005
DEPRECIATION
At 1 July 2023 - 232,270 35,618 267,888
Charge for year - 42,870 29,313 72,183
At 30 June 2024 - 275,140 64,931 340,071
NET BOOK VALUE
At 30 June 2024 1,016,803 119,921 241,210 1,377,934
At 30 June 2023 855,546 103,437 14,563 973,546

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 787,247 706,488
Other debtors 7,617 7,098
794,864 713,586

Exceptio Limited (Registered number: 06292874)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 26,452 34,061
Hire purchase contracts 8,833 -
Trade creditors 993,726 1,105,920
Taxation and social security 123,908 128,104
Other creditors 33,351 2,864
1,186,270 1,270,949

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 93,896 114,789
Hire purchase contracts 81,938 -
175,834 114,789

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,532

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 120,348 148,850
Hire purchase contracts 90,771 -
211,119 148,850

The bank loan is secured by charges over the land and property of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Exceptio 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 Exceptio Limited for the year ended 30 June 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Exceptio Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Exceptio Limited and state those matters that we have agreed to state to the director of Exceptio Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

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






Celerica Ltd
Accountants
First Floor
The Old Chapel
9 Kempson Road
Leicester
LE2 8AN


19 November 2024