| REGISTERED NUMBER: |
| Exchange Accountants Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| Exchange Accountants Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| Exchange Accountants Limited (Registered number: NI608120) |
| Contents of the Financial Statements |
| for the year ended 31 August 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 4 |
| Exchange Accountants Limited |
| Company Information |
| for the year ended 31 August 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Certified Accountants |
| Oakmont House |
| 2 Queens Road |
| Lisburn |
| BT27 4TZ |
| Bankers: |
| 91-93 University Road |
| Belfast |
| BT7 1NG |
| Exchange Accountants Limited (Registered number: NI608120) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| 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. |
| Exchange Accountants Limited (Registered number: NI608120) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Exchange Accountants Limited (Registered number: NI608120) |
| Notes to the Financial Statements |
| for the year ended 31 August 2024 |
| 1. | Statutory information |
| Exchange Accountants Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Exchange Accountants Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Work in progress |
| In accordance with UITF 40, work in progress is reflected in the accounts at the expected revenue due for work carried out during the period that has not yet been invoiced. |
| 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. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Exchange Accountants Limited (Registered number: NI608120) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| Cost |
| At 1 September 2023 |
| and 31 August 2024 |
| Amortisation |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | Tangible fixed assets |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| At 1 September 2023 |
| Additions |
| At 31 August 2024 |
| Depreciation |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by associates |
| Other debtors |
| Exchange Accountants Limited (Registered number: NI608120) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Payments on account |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 8,963 | 17,235 |
| Bank loans and overdrafts are secured by directors' personal guarantees. |
| Hire purchase contracts are secured on the assets to which they relate. |