Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312023-11-01falseIT consultancy31truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12920598 2023-11-01 2024-10-31 12920598 2022-11-01 2023-10-31 12920598 2024-10-31 12920598 2023-10-31 12920598 c:Director1 2023-11-01 2024-10-31 12920598 d:OfficeEquipment 2023-11-01 2024-10-31 12920598 d:OfficeEquipment 2024-10-31 12920598 d:OfficeEquipment 2023-10-31 12920598 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12920598 d:ComputerEquipment 2023-11-01 2024-10-31 12920598 d:ComputerEquipment 2024-10-31 12920598 d:ComputerEquipment 2023-10-31 12920598 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12920598 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12920598 d:CurrentFinancialInstruments 2024-10-31 12920598 d:CurrentFinancialInstruments 2023-10-31 12920598 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 12920598 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12920598 d:ShareCapital 2024-10-31 12920598 d:ShareCapital 2023-10-31 12920598 d:RetainedEarningsAccumulatedLosses 2024-10-31 12920598 d:RetainedEarningsAccumulatedLosses 2023-10-31 12920598 c:FRS102 2023-11-01 2024-10-31 12920598 c:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 12920598 c:FullAccounts 2023-11-01 2024-10-31 12920598 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12920598 6 2023-11-01 2024-10-31 12920598 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 12920598










EXCELITE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
EXCELITE LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFEXCELITE LTD
FOR THE YEAR ENDED 31 OCTOBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Excelite Ltd for the year ended 31 October 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of Excelite Ltd, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Excelite Ltd and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excelite Ltd and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Excelite Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Excelite Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Excelite Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





Shipleys Tax Planning

1 August 2025
Page 1

 
EXCELITE LTD
REGISTERED NUMBER: 12920598

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,665
766

Investments
  
-
1,000

  
1,665
1,766

Current assets
  

Debtors: amounts falling due within one year
 6 
10,121
11,012

Cash at bank and in hand
 7 
15,905
18,797

  
26,026
29,809

Creditors: amounts falling due within one year
 8 
(14,762)
(21,249)

Net current assets
  
 
 
11,264
 
 
8,560

Total assets less current liabilities
  
12,929
10,326

  

Net assets
  
12,929
10,326


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
12,829
10,226

  
12,929
10,326


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2025.




Rehan Ali
Page 2

 
EXCELITE LTD
REGISTERED NUMBER: 12920598

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
EXCELITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Excelite Ltd is a company domiciled in England & Wales, registration number 12920598. The registered office is 124 City Road, London, EC1V 2NX. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
EXCELITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
EXCELITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
21,136
10,546

21,136
10,546


The average monthly number of employees, including directors, during the year was 3 (2023 - 1).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 November 2023
624
1,450
2,074


Additions
-
2,261
2,261



At 31 October 2024

624
3,711
4,335



Depreciation


At 1 November 2023
341
967
1,308


Charge for the year on owned assets
125
1,237
1,362



At 31 October 2024

466
2,204
2,670



Net book value



At 31 October 2024
158
1,507
1,665



At 31 October 2023
283
483
766

Page 6

 
EXCELITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Fixed asset investments





Unlisted investments

£





At 1 November 2023
1,000


Disposals
(1,000)



At 31 October 2024
-





6.


Debtors

2024
2023
£
£


Trade debtors
9,000
9,891

Other debtors
1,121
1,121

10,121
11,012



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
15,905
18,797

15,905
18,797



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
4,422
4,855

Other taxation and social security
6,304
5,897

Other creditors
4,036
10,497

14,762
21,249



9.


Related party transactions

There were no related party transactions during the year.

Page 7

 
EXCELITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Controlling party

The company is controlled by the directors Rehan Ali and Abeda Parveen. 


Page 8