EXCELLARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 SEPTEMBER 2024
Company Registration Number: 08198130
EXCELLARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 8
EXCELLARE LIMITED
COMPANY INFORMATION
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
DIRECTORS
N R Blakemore
resigned 14 February 2024
A Burton
R J Burton
M J Godfrey
R K Lomas
V H Percival
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ
COMPANY REGISTRATION NUMBER
08198130 England and Wales
EXCELLARE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
Notes 30 September 2024 30 June 2023
£ £
FIXED ASSETS
Tangible assets 5 - 16,533
CURRENT ASSETS
Stock 3,550,000 3,843,185
Debtors 6 189,826 88,048
Cash at bank and in hand 99,694 68,881
3,839,520 4,000,114
CREDITORS: Amounts falling due within one year 7 995,914 1,902,571
NET CURRENT ASSETS 2,843,606 2,097,543
TOTAL ASSETS LESS CURRENT LIABILITIES 2,843,606 2,114,076
CREDITORS: Amounts falling due after more than one year 8 2,443,438 2,453,064
Provisions for liabilities and charges - 3,141
NET ASSETS / (LIABILITIES) 400,168 (342,129)
CAPITAL AND RESERVES
Called up share capital 1,182,000 2,000
Distributable profit and loss account (781,832) (344,129)
SHAREHOLDERS' FUNDS / (DEFICIT) 400,168 (342,129)
EXCELLARE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
R K Lomas
Director
Date approved by the board: 11 June 2025
EXCELLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1 GENERAL INFORMATION
Excellare Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
C9 Glyme Court Hughenden Valley
Oxford Office Village Winnies Cottage
Langford Lane Warrendene Road
Kidlington High Wycombe
Oxford HP14 4LX
OX5 1LQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes its bank £2,451,176 and the directors £923,918, both of which could be required for repayment without notice. The company is therefore dependent upon the continued support of the bank and the directors. The directors do not consider their own support nor the support of the bank likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable and represents the value of property sold, or rental income received, stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
EXCELLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Furniture and fittings Reducing balance basis at 25% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
EXCELLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises materials, direct labour and an appropriate proportion of production overheads relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the period / year was:
30/09/24 30/06/23
Average number of employees 5 6
EXCELLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
5 TANGIBLE ASSETS
Furniture and fittings
£
Cost
At 1 July 2023 111,458
Disposals (111,458)
At 30 September 2024 -
Accumulated depreciation and impairments
At 1 July 2023 94,925
Disposals (94,925)
At 30 September 2024 -
Net book value
At 1 July 2023 16,533
At 30 September 2024 -
6 DEBTORS
30/09/24 30/06/23
£ £
Other debtors 189,826 88,048
7 CREDITORS: Amounts falling due within one year
30/09/24 30/06/23
£ £
Bank loans and overdrafts 7,738 7,495
Taxation and social security 2,003 1,246
Accruals and deferred income 21,747 21,748
Other creditors 964,426 1,872,082
995,914 1,902,571
8 CREDITORS: Amounts falling due after more than one year
30/09/24 30/06/23
£ £
Bank loans and overdrafts 2,443,438 2,453,064
9 SECURED DEBTS
The company has a bank loan which is secured on the assets of the company.
EXCELLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
10 RELATED PARTY TRANSACTIONS
During the period / year, the following transactions with related parties took place:
Amounts owed to directors
30/09/24 30/06/23
£ £
A Burton Balance owed to director 119,949 310,949
R Burton Balance owed to director 21,133 297,883
V Percival Balance owed to director 679,245 869,745
M Godfrey Balance owed to director 103,591 312,091
Mountbatten Limited
Connected company 30/09/24 30/06/23
£ £
The following amount was due from a connected company at the year end: 185 185
Excellare (Dorset) Limited
Connected company 30/09/24 30/06/23
£ £
The following amount was due from a connected company at the year end: 1,548 -
Wychwood Homes (Western) Limited
Connected company 30/09/24 30/06/23
£ £
The following amount was due to a connected company at the year end: 26,292 55,605
Wychwood Homes (Cotswold and Thames Valley) Limited
Connected company 30/09/24 30/06/23
£ £
The following amount was due from a connected company at the year end: 700 -
Loro Management Limited
Connected company 30/09/24 30/06/23
£ £
The following amount was due to a connected company at the year end: 14,218 12,023
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