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REGISTERED NUMBER: 07376128 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

INEXETER LIMITED

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

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 |

INEXETER LIMITED

Company Information

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | P J A Cunningham

| MJ Jarratt

| D L Hayward

| M C Whitton

| L C A Wright

| J C Nex

| M J Phillips

| G M Fellows

| R J Church

| M Ishakoglu

| REGISTERED OFFICE: | The Mount

| 72 Paris Street

| Exeter

| Devon

| EX1 2JY

| REGISTERED NUMBER: | 07376128 (England and Wales)

| ACCOUNTANTS: | Gravita Western Limited

| Keble House

| Southernhay Gardens

| Exeter

| Devon

| EX1 1NT

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

Balance Sheet

31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 5,519 |  | 9,041 |  |

5,519 |  | 9,041 |  |

CURRENT ASSETS

Debtors | 6 | 144,077 |  | 198,093 |  |

Cash at bank | - |  | 3,861 |  |

144,077 |  | 201,954 |  |

CREDITORS

Amounts falling due within one year | 7 | (140,846 | ) | (208,102 | ) |

NET CURRENT ASSETS/(LIABILITIES) | 3,231 |  | (6,148 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,750 |  | 2,893 |  |

PROVISIONS FOR LIABILITIES | - |  | (2,260 | ) |

NET ASSETS | 8,750 |  | 633 |  |

RESERVES

Income and expenditure account | 8,750 |  | 633 |  |

8,750 |  | 633 |  |

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 surplus or deficit 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.

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2025 and were signed on its behalf by:

MJ Jarratt - Director

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2025

1. | COMPANY INFORMATION

| Inexeter Limited is a private company, limited by guarantee , 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 (£).

| The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

| The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

| Going concern

| 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 represents Business Improvement District (BID) levy due for the year and other funds raised in order to assist with the company's operations.

| Grant income

| Grants which relate to revenue are recognised in income in the period the related costs are incurred by the entity for which the grant is intended to compensate.

| Intangible fixed assets

| Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Patents and licenses - 20% straight line

| Development costs - 20% straight line

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 20% on cost

| Computer equipment | - | 20% on cost

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| 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.

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Corporation tax

| The company being a mutual trading entity does not pay corporation tax on its operations. Corporation tax will only become due if it relates to interest and other investment income.

| Expenditure

| Expenditure will only be committed to where funds are deemed sufficient for costs to be covered. If Levy income is not paid on time, then decisions will be taken as to which projects can be met with the associated funds available.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 5 ) .

4. | INTANGIBLE FIXED ASSETS

| Patents |

| and |  | Development |

| licences |  | costs |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 9,600 |  | 3,950 |  | 13,550 |  |

| AMORTISATION

| At 1 April 2024

| and 31 March 2025 | 9,600 |  | 3,950 |  | 13,550 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | - |  | - |  |

| At 31 March 2024 | - |  | - |  | - |  |

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 3,005 |  | 17,618 |  | 20,623 |  |

| Additions | 468 |  | - |  | 468 |  |

| At 31 March 2025 | 3,473 |  | 17,618 |  | 21,091 |  |

| DEPRECIATION

| At 1 April 2024 | 2,247 |  | 9,335 |  | 11,582 |  |

| Charge for year | 466 |  | 3,524 |  | 3,990 |  |

| At 31 March 2025 | 2,713 |  | 12,859 |  | 15,572 |  |

| NET BOOK VALUE

| At 31 March 2025 | 760 |  | 4,759 |  | 5,519 |  |

| At 31 March 2024 | 758 |  | 8,283 |  | 9,041 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 32,105 |  | 61,717 |  |

| Other debtors | 6,761 |  | 5,819 |  |

| VAT | 3,142 |  | 3,353 |  |

| Accrued income | 94,504 |  | 105,792 |  |

| Prepayments | 7,565 |  | 21,412 |  |

144,077 |  | 198,093 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 2,050 |  | - |  |

| Trade creditors | 969 |  | 79,712 |  |

| Social security and other taxes | (90 | ) | 2,863 |  |

| Pension Fund | 1,076 |  | 1,247 |  |

| Other creditors | 695 |  | - |  |

| Deferred Income | 130,179 |  | 119,333 |  |

| Accrued expenses | 5,967 |  | 4,947 |  |

140,846 |  | 208,102 |  |

8. | OFF-BALANCE SHEET ARRANGEMENTS

| InExeter Limited has off-balance sheet commitments totalling £82,392 due within one year (2024 - £212,696) and a further £303,174 due within 2-5 years (2024 - £5,000) relating to outsourced service contracts.

INEXETER LIMITED (REGISTERED NUMBER: 07376128)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

9. | COMPANY STATUS

| The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.