ACCOUNTS - Final Accounts preparation

Company Registration Number: 09421240

EXCLUSIVE RESIDENTIAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


EXCLUSIVE RESIDENTIAL LIMITED REGISTERED NUMBER:09421240

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Tangible assets	4		-		-
			-		-
Current assets
Debtors: amounts falling due within one year	5	1,232,614		1,391,371
Cash at bank and in hand		960,900		2,196,983
		2,193,514		3,588,354
Creditors: amounts falling due within one year	6	(1,641,462)		(2,991,974)
Net current assets			552,052		596,380
Total assets less current liabilities			552,052		596,380
Creditors: amounts falling due after more than one year	7		(73,334)		(153,334)

Net assets			478,718		443,046

Capital and reserves
Called up share capital	100	100
Profit and loss account	478,618	442,946
	478,718	443,046

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EXCLUSIVE RESIDENTIAL LIMITED REGISTERED NUMBER:09421240

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

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 by:

................................................

G F Banks

Director

Date: 18 September 2025

The notes on pages 4 to 7 form part of these financial statements.

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EXCLUSIVE RESIDENTIAL LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	100	375,317	375,417

Profit for the year	-	67,629	67,629

At 1 January 2024	100	442,946	443,046
Comprehensive income for the year
Profit for the year	-	35,672	35,672
At 31 December 2024	100	478,618	478,718

The notes on pages 4 to 7 form part of these financial statements.

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EXCLUSIVE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Exclusive Residential Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is given in the company information page of these financial statements.
Statement of compliance
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements are prepared on a going concern basis and under the historical cost convention. They are presented in pounds sterling, which is the functional currency of the entity, and are rounded to the nearest £1.

2.2

Going concern

The company meets its working capital requirements through its cash resources and operating cash flows supported by funding facilities.
The directors have prepared financial forecasts which, having regard for the current economic environment and taking account of reasonably possible changes in trading performance, indicate that the company will maintain sufficient financial headroom to enable it to continue meeting its liabilities as they fall due in the normal course of business for at least the next twelve months following approval of these financial statements. Notwithstanding any further potential ongoing impact on the company's financial performance and position beyond that already anticipated by the forecasts, the company maintains net funds, working capital and confirmed funding facilities which the directors consider are sufficient to fully mitigate the risks which remain due to the current economic environment.
The directors have a reasonable expectation that the company has adequate financial and other resources to continue in operational existence for the foreseeable future. Accordingly, they continue to prepare the financial statements on a going concern basis.

2.3

Revenue and long term contracts

Turnover comprises revenue recognised in respect of goods and services supplied during the year, net of discounts and excluding Value Added Tax.
Turnover is recognised under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date based on the expected consideration at completion.
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for any contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on accounts.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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EXCLUSIVE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Current and deferred taxation

The taxation expense for the year comprises current and deferred tax and is recognised in the profit and loss account except to the extent that it relates to items recognised in other comprehensive income, or directly in equity, in which case the tax expense is also recognised in other comprehensive income or directly in equity.
Current tax is the amount of income tax payable in respect of the taxable profit for the current or past reporting periods. It is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods, and arises from 'timing differences' (where transactions or events are included in the financial statements in periods different from those in which they are assessed for tax). Deferred tax is recognised in respect of all timing differences, except that unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of the timing differences.

2.7

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.

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

Depreciation is provided on the following basis:

Office equipment

50%

straight line

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.

Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

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EXCLUSIVE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	5,776
	At 31 December 2024	5,776
	Depreciation
	At 1 January 2024	5,776
	At 31 December 2024	5,776
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

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EXCLUSIVE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	625,725	200,004
Other debtors	598,324	1,189,732
Prepayments and accrued income	8,565	-
Deferred taxation	-	1,635
	1,232,614	1,391,371

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	80,000	80,000
Trade creditors	452,059	497,514
Amounts owed to related parties	404,012	54,906
Corporation tax	13,772	30,432
Other taxation and social security	47,527	352,817
Other creditors	622,597	1,956,281
Accruals and deferred income	21,495	20,024
	1,641,462	2,991,974

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	73,334	153,334
	73,334	153,334

Bank loans included in creditors (note 6 and 7) totalling £153,334 (2023: £233,334) are subject to interest of 2.62% above base rate, are repayable in equal monthly installments and are secured over the assets of the company.

8.	Related party transactions
	During the year the company made purchases from LTS Refurbishment Limited, a company in which Mr G Banks is a director, of £370,425 (2023: £478,204) and sales of £2,496,984 (2023: £6,395,375). £404,012 (2023: £213,168) was owed by the company and is included in creditors.

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