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REGISTERED NUMBER: 03539754 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Exworks Limited

Exworks Limited (Registered number: 03539754)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Exworks Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: S Thorn
M Greenaway
S R Stevens
B Thorn





REGISTERED OFFICE: Exhibition House
North View
Soundwell
Bristol
BS16 4NT





REGISTERED NUMBER: 03539754 (England and Wales)

Exworks Limited (Registered number: 03539754)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,136 5,637
Tangible assets 5 24,607 29,553
27,743 35,190

CURRENT ASSETS
Stocks 18,655 22,943
Debtors 6 760,960 910,538
Cash at bank and in hand 64,276 48
843,891 933,529
CREDITORS
Amounts falling due within one year 7 547,904 723,803
NET CURRENT ASSETS 295,987 209,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

323,730

244,916

CREDITORS
Amounts falling due after more than one
year

8

(10,504

)

(30,340

)

PROVISIONS FOR LIABILITIES (5,631 ) (6,753 )
NET ASSETS 307,595 207,823

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 50 50
Retained earnings 307,345 207,573
307,595 207,823

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

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

Exworks Limited (Registered number: 03539754)

Balance Sheet - continued
31 December 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 26 June 2025 and were signed on its behalf by:




S R Stevens - Director



B Thorn - Director


Exworks Limited (Registered number: 03539754)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Exworks 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.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the 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
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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 is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on straight line basis
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Exworks Limited (Registered number: 03539754)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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 19 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2024 44,950 9,671 54,621
Additions - 916 916
Reclassification/transfer - (2,748 ) (2,748 )
At 31 December 2024 44,950 7,839 52,789
AMORTISATION
At 1 January 2024 44,950 4,034 48,984
Amortisation for year - 975 975
Reclassification/transfer - (306 ) (306 )
At 31 December 2024 44,950 4,703 49,653
NET BOOK VALUE
At 31 December 2024 - 3,136 3,136
At 31 December 2023 - 5,637 5,637

Exworks Limited (Registered number: 03539754)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 36,000 131,074 11,541 64,915 243,530
Reclassification/transfer - 2,748 - - 2,748
At 31 December 2024 36,000 133,822 11,541 64,915 246,278
DEPRECIATION
At 1 January 2024 36,000 106,580 9,972 61,425 213,977
Charge for year - 6,126 390 872 7,388
Reclassification/transfer - 306 - - 306
At 31 December 2024 36,000 113,012 10,362 62,297 221,671
NET BOOK VALUE
At 31 December 2024 - 20,810 1,179 2,618 24,607
At 31 December 2023 - 24,494 1,569 3,490 29,553

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,603 260,395
Amounts owed by related parties 243,386 85,582
Other debtors 102,066 142,774
Directors' current accounts 322,389 408,709
Prepayments and accrued income 21,516 13,078
760,960 910,538

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,233 130,247
Trade creditors 169,556 288,074
Tax 118,204 60,485
Social security and other taxes 135,702 89,668
Other creditors 24,226 39,396
Accruals and deferred income 76,983 115,933
547,904 723,803

Creditors include an amount of £28,504 (2023 - £46,511) in favour of Barclays Bank plc which are secured by way of fixed and floating charges over the assets of the company.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,504 19,829
Bank loans - 2-5 years - 10,511
10,504 30,340

Exworks Limited (Registered number: 03539754)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,007 7,905
Between one and five years - 2,462
2,007 10,367

10. RELATED PARTY DISCLOSURES

Loans to related parties
Key Other related
management parties Total
2024 £    £    £   
At start of period 408,709 85,582 546,691
Advanced 195,627 191,804 238,211
Repaid (281,946 ) (34,000 ) (264,003 )
Waived - - -
At end of period 322,390 243,386 565,776

Key Other related
management parties Total
2023 £    £    £   
At start of period 527,835 18,856 546,691
Advanced 146,337 91,834 238,211
Repaid (265,503 ) (6,000 ) (271,503 )
Waived - (19,108 ) (19,108 )
At end of period 408,709 85,582 494,291


Loans to key management are repayable on demand. Interest is charged on the loans at the prevailing HMRC rate.