Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30falsefalse2023-07-01The principal activity of the company is that of commercial property lettings and catering services.96truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10847814 2023-07-01 2024-06-30 10847814 2022-07-01 2023-06-30 10847814 2024-06-30 10847814 2023-06-30 10847814 1 2023-07-01 2024-06-30 10847814 d:Director1 2023-07-01 2024-06-30 10847814 d:Director1 2024-06-30 10847814 d:Director2 2023-07-01 2024-06-30 10847814 d:Director2 2024-06-30 10847814 d:Director3 2023-07-01 2024-06-30 10847814 d:Director3 2024-06-30 10847814 d:RegisteredOffice 2023-07-01 2024-06-30 10847814 c:PlantMachinery 2023-07-01 2024-06-30 10847814 c:PlantMachinery 2024-06-30 10847814 c:PlantMachinery 2023-06-30 10847814 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:MotorVehicles 2023-07-01 2024-06-30 10847814 c:MotorVehicles 2024-06-30 10847814 c:MotorVehicles 2023-06-30 10847814 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:FurnitureFittings 2023-07-01 2024-06-30 10847814 c:FurnitureFittings 2024-06-30 10847814 c:FurnitureFittings 2023-06-30 10847814 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:OfficeEquipment 2023-07-01 2024-06-30 10847814 c:OfficeEquipment 2024-06-30 10847814 c:OfficeEquipment 2023-06-30 10847814 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:ComputerEquipment 2023-07-01 2024-06-30 10847814 c:ComputerEquipment 2024-06-30 10847814 c:ComputerEquipment 2023-06-30 10847814 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 10847814 c:OtherPropertyPlantEquipment 2024-06-30 10847814 c:OtherPropertyPlantEquipment 2023-06-30 10847814 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10847814 c:FreeholdInvestmentProperty 2023-07-01 2024-06-30 10847814 c:FreeholdInvestmentProperty 2024-06-30 10847814 c:FreeholdInvestmentProperty 2023-06-30 10847814 c:CurrentFinancialInstruments 2024-06-30 10847814 c:CurrentFinancialInstruments 2023-06-30 10847814 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 10847814 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 10847814 c:ShareCapital 2024-06-30 10847814 c:ShareCapital 2023-06-30 10847814 c:RetainedEarningsAccumulatedLosses 2024-06-30 10847814 c:RetainedEarningsAccumulatedLosses 2023-06-30 10847814 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 10847814 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 10847814 d:OrdinaryShareClass1 2023-07-01 2024-06-30 10847814 d:OrdinaryShareClass1 2024-06-30 10847814 d:OrdinaryShareClass1 2023-06-30 10847814 d:FRS102 2023-07-01 2024-06-30 10847814 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10847814 d:FullAccounts 2023-07-01 2024-06-30 10847814 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10847814 2 2023-07-01 2024-06-30 10847814 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10847814









EXELENZ LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
EXELENZ LIMITED
 
 
COMPANY INFORMATION


Directors
A E Hult (resigned 1 November 2024)
N A Andrade Dos Passos (appointed 31 August 2024)
L Slattery (appointed 31 August 2024)




Registered number
10847814



Registered office
Eighth Floor
6 New Street Square

New Fetter Lane

London

EC4A 3AQ




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
EXELENZ LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9

 
EXELENZ LIMITED
REGISTERED NUMBER: 10847814

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
144,602
146,277

Investment property
 5 
13,015,985
12,156,626

  
13,160,587
12,302,903

Current assets
  

Stocks
 6 
2,246
2,246

Debtors: amounts falling due within one year
 7 
4,927,522
2,856,100

Cash at bank and in hand
 8 
306,101
333,640

  
5,235,869
3,191,986

Creditors: amounts falling due within one year
 9 
(21,260,946)
(17,442,675)

Net current liabilities
  
 
 
(16,025,077)
 
 
(14,250,689)

Total assets less current liabilities
  
(2,864,490)
(1,947,786)

  

Net liabilities
  
(2,864,490)
(1,947,786)


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
(2,864,491)
(1,947,787)

  
(2,864,490)
(1,947,786)

Page 1

 
EXELENZ LIMITED
REGISTERED NUMBER: 10847814
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 profit and loss account 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 by: 




N A Andrade Dos Passos
Director

Date: 28 March 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Exelenz Limited is a private company, limited by shares, incorporated in England & Wales with registration number of 10847814. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued financial support of the ultimate controlling party, Mr A E Hult, who has provided confirmation of his intention to provide such financial support as is necessary for the company to continue its operations for the foreseeable future and at least 12 months from the date of signing of the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

Page 3

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Cafe equipment
-
20%
Straight Line
Motor vehicles
-
20%
Straight Line
Fixtures and fittings
-
20%
Straight Line
Office equipment
-
20%
Straight Line
Computer equipment
-
20%
Straight Line
Bakery equipment
-
20%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

  
2.10

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 the purchase on a first in, first out basis. 
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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 6).

Page 6

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Cafe equipment
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Bakery equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 July 2023
86,238
-
67,240
12,228
15,149
20,817
201,672


Additions
5,972
4,953
30,639
-
1,501
-
43,065



At 30 June 2024

92,210
4,953
97,879
12,228
16,650
20,817
244,737



Depreciation


At 1 July 2023
18,188
-
25,946
4,081
6,530
650
55,395


Charge for the year
17,607
907
16,367
2,446
3,250
4,163
44,740



At 30 June 2024

35,795
907
42,313
6,527
9,780
4,813
100,135



Net book value



At 30 June 2024
56,415
4,046
55,566
5,701
6,870
16,004
144,602



At 30 June 2023
68,050
-
41,294
8,147
8,619
20,167
146,277


5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
12,156,626


Additions at cost
859,359



At 30 June 2024
13,015,985

The director valued the properties at 30 June 2024, on an open market value for existing use basis, and
considered the value at that date to be in line with the aggregate purchase price and renovation costs of
£13,015,985 
(2023 - £12,156,626).






Page 7

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
2,246
2,246



7.


Debtors

2024
2023
£
£


Trade debtors
922
10,890

Other debtors
4,889,451
2,799,872

Prepayments and accrued income
37,149
45,338

4,927,522
2,856,100



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
306,101
333,640



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
285,627
55,572

Other taxation and social security
49,835
-

Other creditors
20,906,739
17,356,302

Accruals and deferred income
18,745
30,801

21,260,946
17,442,675


Page 8

 
EXELENZ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
13,322,086
12,490,266




Financial assets measured at fair value through profit or loss comprise investment property and cash at bank and in hand.

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge of £6,426 (2023 - £3,882) represents contributions payable by the company to the fund. Contributions totalling £4,280 (2023 - £864) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

Included within debtors (Note 7), is an amount of £4,521,996 (2023 - £2,760,437) owed from 5DB Industries Limited and £246,801 (2023 - Nil) owed from 5DB Records limited which is related through common control and ownership. This amount is unsecured, interest free and repayable on demand.


14.


Post balance sheet events

On 1 July 2024, the entire issued share capital of the company was acquiredd by Exelenz Holding Limited which, from this date, became the immediate parent undertaking.

 
Page 9