REGISTERED NUMBER: 07376128 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

INEXETER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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

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.

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

-

-

-

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.

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.