Exceeding Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07706566

Exceeding Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Exceeding Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	167,443	232,547

Current assets

Debtors	6	243,351	182,442
Cash at bank and in hand		189,477	167,255
		----------	----------
		432,828	349,697

Creditors: amounts falling due within one year	7	188,689	181,118
		----------	----------
Net current assets		244,139	168,579
		----------	----------
Total assets less current liabilities		411,582	401,126

Provisions

Deferred tax	13,358	23,975
	----------	----------
Net assets	398,224	377,151
	----------	----------

Capital and reserves

Called up share capital	200	200
Profit and loss account	398,024	376,951
	----------	----------
Shareholders funds	398,224	377,151
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Exceeding Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 9 September 2025 , and are signed on behalf of the board by:

S P Rowland

Director

Company registration number: 07706566

Exceeding Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Wenlock Road, London, N1 7GU. The principal place of business of the company is 2-3 Blotts Barn, Brooks Road, Raunds, Northamptonshire, NN9 6NS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit and loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Operating lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Operating lease income is recognised in statement of income and retained earnings on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	20% straight line per annum
Motor vehicles	-	25% stright line per annum
Equipment	-	33.3% straight line per annum

Defined pension contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2023: 11 ).

5. Tangible assets

	Leasehold improvements	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	70,457	200,240	44,997	315,694
Additions	–	–	3,008	3,008
	--------	----------	--------	----------
At 31 December 2024	70,457	200,240	48,005	318,702
	--------	----------	--------	----------
Depreciation
At 1 January 2024	18,739	28,119	36,289	83,147
Charge for the year	14,091	50,060	3,961	68,112
	--------	----------	--------	----------
At 31 December 2024	32,830	78,179	40,250	151,259
	--------	----------	--------	----------
Carrying amount
At 31 December 2024	37,627	122,061	7,755	167,443
	--------	----------	--------	----------
At 31 December 2023	51,718	172,121	8,708	232,547
	--------	----------	--------	----------

6. Debtors

	2024	2023
	£	£
Trade debtors	115,708	62,450
Amounts owed by group undertakings and undertakings in which the company has a participating interest	114,819	109,199
Other debtors	12,824	10,793
	----------	----------
	243,351	182,442
	----------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	34,029	21,429
Social security and other taxes	143,776	137,997
Other creditors	10,884	21,692
	----------	----------
	188,689	181,118
	----------	----------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	13,358	23,975
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	13,358	23,975
	--------	--------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	21,750	21,750
Later than 1 year and not later than 5 years	58,000	79,750
	--------	----------
	79,750	101,500
	--------	----------