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REGISTERED NUMBER: 04476350 (England and Wales)












EXSTENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXSTENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: P N Davies
P F Gibson
T J Golesworthy
R S Morrison
Dr P W Phillips
Mrs V L Sharpe





SECRETARY: P N Davies





REGISTERED OFFICE: 12 Miller Court
Severn Drive
Tewkesbury Business Park
Tewkesbury
Gloucestershire
GL20 8DN





REGISTERED NUMBER: 04476350 (England and Wales)

EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 7,831 -
Tangible assets 5 130,710 152,085
Investments 6 1,016,913 -
1,155,454 152,085

CURRENT ASSETS
Stocks 135,332 152,976
Debtors 7 251,998 315,003
Cash at bank 588,554 1,239,680
975,884 1,707,659
CREDITORS
Amounts falling due within one year 8 (165,506 ) (186,413 )
NET CURRENT ASSETS 810,378 1,521,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,965,832

1,673,331

PROVISIONS FOR LIABILITIES (35,320 ) (33,777 )
NET ASSETS 1,930,512 1,639,554

CAPITAL AND RESERVES
Called up share capital 1,435 1,435
Share premium 649,155 649,155
Non distributable reserve 9 9,113 -
Capital redemption reserve 10 10
Retained earnings 1,270,799 988,954
1,930,512 1,639,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

BALANCE SHEET - continued
31 JULY 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 Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mrs V L Sharpe - Director


EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Exstent 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software and patents is being amortised evenly over its estimated useful life of four years.

EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant, fixtures and equipment - 20% Reducing balance
Computer equipment - 25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

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

Financial Liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Investments
Investments are valued on an open market basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
and patents
£
COST
At 1 August 2023 15,529
Additions 10,442
At 31 July 2024 25,971
AMORTISATION
At 1 August 2023 15,529
Amortisation for year 2,611
At 31 July 2024 18,140
NET BOOK VALUE
At 31 July 2024 7,831
At 31 July 2023 -

EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. TANGIBLE FIXED ASSETS
Plant,
fixtures
and Computer
equipment equipment Totals
£ £ £
COST
At 1 August 2023 214,361 25,252 239,613
Additions 9,060 3,382 12,442
At 31 July 2024 223,421 28,634 252,055
DEPRECIATION
At 1 August 2023 77,086 10,442 87,528
Charge for year 29,269 4,548 33,817
At 31 July 2024 106,355 14,990 121,345
NET BOOK VALUE
At 31 July 2024 117,066 13,644 130,710
At 31 July 2023 137,275 14,810 152,085

6. FIXED ASSET INVESTMENTS

2024 2023
£ £
Other investments not loans 1,016,913 -

Additional information is as follows:
Other
investments
£
COST OR VALUATION
Additions 1,380,718
Disposals (376,261 )
Revaluations 12,151
At 31 July 2024 1,016,608
NET BOOK VALUE
At 31 July 2024 1,016,608

EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 July 2024 is represented by:

Other
investments
£
Valuation in 2024 12,151
Cost 1,004,457
1,016,608

Investments (neither listed nor unlisted) were as follows:
2024 2023
£ £
Cash invested 305 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 230,169 289,809
Other debtors 21,829 25,194
251,998 315,003

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 2,419 4,555
Taxation and social security 78,613 99,530
Other creditors 84,474 82,328
165,506 186,413

9. RESERVES
Non
distributable
reserve
£
Transfers 9,113

At 31 July 2024 9,113

EXSTENT LIMITED (REGISTERED NUMBER: 04476350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


10. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £15,918 (2023: £15,606).

The company has entered into an agreement with a supplier to purchase a minimum of US$89,500 of goods per year up to a total of US$447,520 over 5 years. As of the balance sheet date the company had purchased US$341,890 worth of goods under this agreement, leaving a remaining commitment of US$105,610.

11. SHARE OPTION SCHEME

On 6 July 2019 the company granted 55 EMI share options to certain Directors with an exercise price of £0.00 each. On 16 April 2024 the company granted a further 30 EMI share options at an exercise price of £1.00 each.

There are no performance conditions required and the share options vested immediately on issue, the option will be exercisable only on an exit in accordance with the scheme rules.

As at 31 July 2024 there were options over 85 shares outstanding (2023 - 55).

No transaction was recognised regarding this share based payment within the results of the year in which it fell due to the value of this being considered to be insignificant.