Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false22023-04-01falseimporters and exporters of health products2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04712672 2023-04-01 2024-03-31 04712672 2022-04-01 2023-03-31 04712672 2024-03-31 04712672 2023-03-31 04712672 2022-04-01 04712672 c:Director1 2023-04-01 2024-03-31 04712672 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 04712672 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 04712672 d:CurrentFinancialInstruments 2024-03-31 04712672 d:CurrentFinancialInstruments 2023-03-31 04712672 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04712672 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04712672 d:ShareCapital 2023-04-01 2024-03-31 04712672 d:ShareCapital 2024-03-31 04712672 d:ShareCapital 2022-04-01 2023-03-31 04712672 d:ShareCapital 2023-03-31 04712672 d:ShareCapital 2022-04-01 04712672 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04712672 d:RetainedEarningsAccumulatedLosses 2024-03-31 04712672 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04712672 d:RetainedEarningsAccumulatedLosses 2023-03-31 04712672 d:RetainedEarningsAccumulatedLosses 2022-04-01 04712672 c:FRS102 2023-04-01 2024-03-31 04712672 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04712672 c:FullAccounts 2023-04-01 2024-03-31 04712672 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04712672 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 04712672 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04712672









EXALATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
EXALATION LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 10


 
EXALATION LIMITED
REGISTERED NUMBER: 04712672

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
-
441

  
-
441

Current assets
  

Stocks
 5 
20,543
40,452

Debtors: amounts falling due within one year
 6 
30,920
37,233

Cash at bank and in hand
 7 
254,241
232,030

  
305,704
309,715

Creditors: amounts falling due within one year
 8 
(47,767)
(61,471)

Net current assets
  
 
 
257,937
 
 
248,244

Total assets less current liabilities
  
257,937
248,685

  

Net assets
  
257,937
248,685


Capital and reserves
  

Called up share capital 
  
999
999

Profit and loss account
  
256,938
247,686

  
257,937
248,685


Page 1

 
EXALATION LIMITED
REGISTERED NUMBER: 04712672
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 December 2024.




Sepp Hatzl
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
EXALATION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
999
237,184
238,183


Comprehensive income for the year

Profit for the year
-
10,502
10,502
Total comprehensive income for the year
-
10,502
10,502



At 1 April 2023
999
247,686
248,685


Comprehensive income for the year

Profit for the year
-
9,252
9,252
Total comprehensive income for the year
-
9,252
9,252


At 31 March 2024
999
256,938
257,937


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Exalation Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04712672. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company continued to be that of the importers and exporters of health products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments
Page 5

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is UK sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 7

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
98,000
134,000

98,000
134,000


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Intangible assets




Patents

£



Cost


At 1 April 2023
118,434



At 31 March 2024

118,434



Amortisation


At 1 April 2023
117,992


Charge for the year on owned assets
442



At 31 March 2024

118,434



Net book value



At 31 March 2024
-



At 31 March 2023
441



Page 8

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
20,543
40,452

20,543
40,452



6.


Debtors

2024
2023
£
£


Trade debtors
13,563
36,959

Other debtors
17,357
274

30,920
37,233



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
254,241
232,030

254,241
232,030



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,241
358

Amounts owed to group undertakings
38,031
38,057

Corporation tax
2,170
2,463

Other creditors
-
15,343

Accruals and deferred income
6,325
5,250

47,767
61,471


Page 9

 
EXALATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Related party transactions

Key management personnel compensation in the year totalled Nil (2023:£134,000)


Balance owed from/ (to) related parties 2024
2023
£
£

Entities under common control
-
38,032
38,056
Key management personnel
-
(15,851)
15,342

 
Page 10