| REGISTERED NUMBER: |
| Audited Financial Statements for the Period 4 October 2023 to 31 December 2023 |
| for |
| Exceed Merchants Wharf Limited |
| REGISTERED NUMBER: |
| Audited Financial Statements for the Period 4 October 2023 to 31 December 2023 |
| for |
| Exceed Merchants Wharf Limited |
| Exceed Merchants Wharf Limited (Registered number: 15187638) |
| Contents of the Financial Statements |
| for the Period 4 October 2023 to 31 December 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| Exceed Merchants Wharf Limited |
| Company Information |
| for the Period 4 October 2023 to 31 December 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| & Statutory Auditors |
| 1 Beauchamp Court |
| 10 Victors Way |
| Barnet |
| Hertfordshire |
| EN5 5TZ |
| Exceed Merchants Wharf Limited (Registered number: 15187638) |
| Statement of Financial Position |
| 31 December 2023 |
| Notes | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | 7 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Exceed Merchants Wharf Limited (Registered number: 15187638) |
| Notes to the Financial Statements |
| for the Period 4 October 2023 to 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| Exceed Merchants Wharf Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Financial instruments |
| Cash and cash equivalents |
| Cash and cash equivalents comprises cash on hand and all deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to and insignificant risk of change in value. |
| Trade debtors |
| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities of the company does not have an unconditional right at the end of the reporting period to refer settlements of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlements for at least twelve months after the reporting date they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. |
| Taxation |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| Exceed Merchants Wharf Limited (Registered number: 15187638) |
| Notes to the Financial Statements - continued |
| for the Period 4 October 2023 to 31 December 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. |
| The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Provision |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
| Going concern |
| At 31 December 2023, the company had net liabilities of £29,175, primarily resulting from start-up legal and administrative costs incurred in acquiring its investment property. The property is expected to generate income with negligible running costs. The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements and consider that the company will be able to meet its liabilities as they fall due. |
| Accordingly, the financial statements have been prepared on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL. |
| Exceed Merchants Wharf Limited (Registered number: 15187638) |
| Notes to the Financial Statements - continued |
| for the Period 4 October 2023 to 31 December 2023 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Additions |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Amounts owed to group undertakings |
| Accrued expenses |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary share capital | 1 | 1 |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| Deficit for the period | ( |
) |
| At 31 December 2023 | ( |
) |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Exceed Merchants Wharf Limited (Registered number: 15187638) |
| Notes to the Financial Statements - continued |
| for the Period 4 October 2023 to 31 December 2023 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is Exceed Contracting Limited (Previously known as Exceed Outsourcing Limited), incorporated in England and Wales with a Registered Office at Studio 3, Bridge Street Studios, 62 Bridge Street, Manchester, United Kingdom, M3 3BW. |
| On 20 December 2024, the parent company was sold to Exceed Grp Holding Limited, at which point it became the parent undertaking. The ultimate controlling party became Shelina Begum by virtue of her majority shareholding. Additional information on Exceed Grp Limited will be available form it registered offices located at 7 Jardine House, Harrovian Business Park Village, Bessborough Road, Harrow, England, HA1 3EX. |