Company Registration No. 03421364 (England and Wales)
EARLY EXCELLENCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
EARLY EXCELLENCE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 13
EARLY EXCELLENCE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs H E Marsden
Mrs Z Wilson
Mrs N J Walters
Company number
03421364
Registered office
The Old Foundry
Unit 14 Rosemount Estate
Huddersfield Road
Elland
West Yorkshire
HX5 0EE
Accountants
TC Group
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
EARLY EXCELLENCE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,939
10,388
Tangible assets
4
222,615
293,896
Investments
5
75
75
225,629
304,359
Current assets
Stocks
535,096
645,762
Debtors
6
399,361
327,059
Cash at bank and in hand
1,140,988
1,634,867
2,075,445
2,607,688
Creditors: amounts falling due within one year
7
(840,629)
(761,478)
Net current assets
1,234,816
1,846,210
Total assets less current liabilities
1,460,445
2,150,569
Creditors: amounts falling due after more than one year
8
(38,329)
(83,891)
Provisions for liabilities
(47,687)
(54,283)
Net assets
1,374,429
2,012,395
Capital and reserves
Called up share capital
60
60
Capital redemption reserve
40
40
Profit and loss reserves
1,374,329
2,012,295
Total equity
1,374,429
2,012,395
EARLY EXCELLENCE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
Mrs H E Marsden
Director
Company registration number 03421364 (England and Wales)
EARLY EXCELLENCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
60
149,210
40
2,500,965
2,650,275
Year ended 31 December 2023:
Profit
-
-
-
1,608,588
1,608,588
Other comprehensive income:
Revaluation of tangible fixed assets
-
(149,210)
-
-
(149,210)
Total comprehensive income
-
(149,210)
-
1,608,588
1,459,378
Dividends
-
-
-
(2,246,468)
(2,246,468)
Transfers
-
-
0
-
149,210
149,210
Balance at 31 December 2023
60
-
0
40
2,012,295
2,012,395
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
912,204
912,204
Dividends
-
-
-
(1,550,170)
(1,550,170)
Balance at 31 December 2024
60
-
0
40
1,374,329
1,374,429
EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
1
Accounting policies
Company information

Early Excellence Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Foundry, Unit 14 Rosemount Estate, Huddersfield Road, Elland, West Yorkshire, HX5 0EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Other intangible assets
33.33% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
25% reducing balance
Fixtures and fittings
10% - 35% reducing balance
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 9 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
44
40
EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
3
Intangible fixed assets
Other intangible assets
£
Cost
At 1 January 2024
54,070
Additions
484
At 31 December 2024
54,554
Amortisation and impairment
At 1 January 2024
43,682
Amortisation charged for the year
7,933
At 31 December 2024
51,615
Carrying amount
At 31 December 2024
2,939
At 31 December 2023
10,388
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
156,522
174,881
187,649
519,052
Additions
2,411
15,266
350
18,027
At 31 December 2024
158,933
190,147
187,999
537,079
Depreciation and impairment
At 1 January 2024
43,245
89,937
91,974
225,156
Depreciation charged in the year
22,616
26,268
40,424
89,308
At 31 December 2024
65,861
116,205
132,398
314,464
Carrying amount
At 31 December 2024
93,072
73,942
55,601
222,615
At 31 December 2023
113,277
84,944
95,675
293,896
EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
75
75
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
271,064
258,908
Other debtors
128,297
68,151
399,361
327,059
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
17,500
10,000
Trade creditors
308,603
267,920
Corporation tax
119,999
183,001
Other taxation and social security
225,308
186,707
Other creditors
169,219
113,850
840,629
761,478
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
17,500
Other creditors
38,329
66,391
38,329
83,891
EARLY EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
95,717
150,243
10
Ultimate controlling party

The company's ultimate parent is Early Excellence Newco Limited, incorporated in United Kingdom.

11
Related party transactions

The company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into fellow group companies that are wholly owned within the group of companies of which the company is a wholly owned member.

2024-12-31 2024-01-01 false false false 25 February 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mrs H E Marsden Mrs Z Wilson Mrs N J Walters 03421364 2024-01-01 2024-12-31 03421364 bus:Director1 2024-01-01 2024-12-31 03421364 bus:Director2 2024-01-01 2024-12-31 03421364 bus:Director3 2024-01-01 2024-12-31 03421364 bus:RegisteredOffice 2024-01-01 2024-12-31 03421364 2024-12-31 03421364 2023-12-31 03421364 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 03421364 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 03421364 core:LeaseholdImprovements 2024-12-31 03421364 core:FurnitureFittings 2024-12-31 03421364 core:MotorVehicles 2024-12-31 03421364 core:LeaseholdImprovements 2023-12-31 03421364 core:FurnitureFittings 2023-12-31 03421364 core:MotorVehicles 2023-12-31 03421364 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03421364 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03421364 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 03421364 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 03421364 core:CurrentFinancialInstruments 2024-12-31 03421364 core:CurrentFinancialInstruments 2023-12-31 03421364 core:Non-currentFinancialInstruments 2024-12-31 03421364 core:Non-currentFinancialInstruments 2023-12-31 03421364 core:ShareCapital 2024-12-31 03421364 core:ShareCapital 2023-12-31 03421364 core:CapitalRedemptionReserve 2024-12-31 03421364 core:CapitalRedemptionReserve 2023-12-31 03421364 core:RetainedEarningsAccumulatedLosses 2024-12-31 03421364 core:RetainedEarningsAccumulatedLosses 2023-12-31 03421364 core:ShareCapital 2022-12-31 03421364 core:RevaluationReserve 2022-12-31 03421364 core:CapitalRedemptionReserve 2022-12-31 03421364 core:RetainedEarningsAccumulatedLosses 2022-12-31 03421364 core:RevaluationReserve 2023-12-31 03421364 core:RevaluationReserve 2024-12-31 03421364 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03421364 2023-01-01 2023-12-31 03421364 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03421364 core:RevaluationReserve 2023-01-01 2023-12-31 03421364 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 03421364 core:ComputerSoftware 2024-01-01 2024-12-31 03421364 core:LeaseholdImprovements 2024-01-01 2024-12-31 03421364 core:FurnitureFittings 2024-01-01 2024-12-31 03421364 core:MotorVehicles 2024-01-01 2024-12-31 03421364 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 03421364 core:LeaseholdImprovements 2023-12-31 03421364 core:FurnitureFittings 2023-12-31 03421364 core:MotorVehicles 2023-12-31 03421364 2023-12-31 03421364 core:WithinOneYear 2024-12-31 03421364 core:WithinOneYear 2023-12-31 03421364 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03421364 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03421364 bus:FRS102 2024-01-01 2024-12-31 03421364 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03421364 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP