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REGISTERED NUMBER: 03971453 (England and Wales)















T.Q. Exel Limited

Unaudited Financial Statements for the Year Ended 31 March 2025






T.Q. Exel Limited (Registered number: 03971453)






Contents of the Financial Statements
for the year ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T.Q. Exel Limited

Company Information
for the year ended 31 March 2025







DIRECTORS: S Abbott
A Abbott





REGISTERED OFFICE: One New Street
Wells
Somerset
BA5 2LA





REGISTERED NUMBER: 03971453 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

T.Q. Exel Limited (Registered number: 03971453)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 95,450 95,450
Tangible assets 5 15,094 15,169
110,544 110,619

CURRENT ASSETS
Stocks 150 150
Debtors 6 169,934 172,215
Cash at bank 665 5,052
170,749 177,417
CREDITORS
Amounts falling due within one year 7 211,869 142,786
NET CURRENT (LIABILITIES)/ASSETS (41,120 ) 34,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,424

145,250

CREDITORS
Amounts falling due after more than one
year

8

(6,666

)

(46,666

)

PROVISIONS FOR LIABILITIES (3,024 ) (2,792 )
NET ASSETS 59,734 95,792

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 59,732 95,790
SHAREHOLDERS' FUNDS 59,734 95,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

T.Q. Exel Limited (Registered number: 03971453)

Balance Sheet - continued
31 March 2025


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





S Abbott - Director


T.Q. Exel Limited (Registered number: 03971453)

Notes to the Financial Statements
for the year ended 31 March 2025

1. STATUTORY INFORMATION

T.Q. Exel 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


T.Q. Exel Limited (Registered number: 03971453)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 498,000
AMORTISATION
At 1 April 2024
and 31 March 2025 402,550
NET BOOK VALUE
At 31 March 2025 95,450
At 31 March 2024 95,450

T.Q. Exel Limited (Registered number: 03971453)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2024 128,975
Additions 8,480
At 31 March 2025 137,455
DEPRECIATION
At 1 April 2024 113,806
Charge for year 8,555
At 31 March 2025 122,361
NET BOOK VALUE
At 31 March 2025 15,094
At 31 March 2024 15,169

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 132,423 111,880
Other debtors 37,511 60,335
169,934 172,215

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 78,194 40,000
Trade creditors 29,920 42,673
Taxation and social security 98,700 55,450
Other creditors 5,055 4,663
211,869 142,786

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 6,666 46,666

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 14,159 15,645
Between one and five years 3,539 17,698
17,698 33,343

T.Q. Exel Limited (Registered number: 03971453)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 46,666 86,666

Bank loans are secured by a fixed and floating charge covering all the property or undertakings of the company dated 23 October 2007.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
200 Ordinary A, B, C & D 1p 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
S Abbott
Balance outstanding at start of year 34,419 93,434
Amounts advanced 29,784 34,419
Amounts repaid (34,419 ) (93,434 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,784 34,419

The loan was repaid on 06 April 2025.