REGISTERED NUMBER: 07574487 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 31 December 2024

for

Excelerated ProcurementSolutions Limited

Page

Company Information

1

Report of the Director

2

Consolidated Income Statement

4

Consolidated Other Comprehensive Income

5

Consolidated Statement of Financial Position

6

Company Statement of Financial Position

7

Consolidated Statement of Changes in Equity

9

Company Statement of Changes in Equity

10

Notes to the Consolidated Financial Statements

11

DIRECTOR:

Mr R N Varsani

REGISTERED OFFICE:

5th Floor

167 - 169 Great Portland Street

London

W1W 5PF

REGISTERED NUMBER:

07574487 (England and Wales)

ACCOUNTANTS:

Schiavi Pole Brett Ltd

15a Walm Lane

London

NW2 5SJ

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of Information technology consultancy

DIRECTOR

Mr R N Varsani held office during the whole of the period from 1 January 2024 to the date of this report.

FINANCIAL INSTRUMENTS

The group’s principal financial instruments include bank balances, bank loans, trade creditors, and trade debtors. These instruments are primarily used to support the group’s operations by facilitating the raising of funds and managing financial obligations.

Risk Management and Financial Instruments

The group does not engage in speculative trading of financial instruments and is not exposed to price risk. The group’s risk management framework focuses on mitigating the following key financial risks:

Liquidity Risk: The group’s liquidity is supported through long-term loans and overdraft facilities provided by its

bankers. The directors believe that these facilities will continue to be made available as required to support operational needs.

Currency Risk: The group actively manages foreign exchange risk by reviewing its currency requirements and pricing its products accordingly to hedge against significant currency fluctuations.

Interest Rate Risk: The group assesses the potential impact of interest rate changes on its future borrowings and financial position. While no interest rate hedging instruments were in place at the balance sheet date, the group continues to monitor this exposure regularly.

Credit Risk: Credit risk is managed by reviewing credit facilities extended to customers. The group monitors customer creditworthiness and implements control measures to minimise potential losses.

EMPLOYMENT POLICY

Employment Practices and Workforce Inclusion

The directors are committed to ensuring that all employees, including those with disabilities, are provided with

appropriate training and support to carry out their responsibilities effectively. The group promotes a workplace culture

that values inclusivity, fairness, and the development of all staff.

Equal Opportunity and Employee Support

The group upholds a policy of equal opportunity, treating all employees with dignity and respect regardless of any

individual characteristics. In cases where employees become disabled during their employment, the group endeavours to maintain their employment by providing reasonable adjustments and retraining opportunities to support continued contribution.

Training and Development

The group recognises the importance of skill development and provides training to ensure employees are competent and confident in their roles. This commitment extends to retraining initiatives where necessary to accommodate changing employee circumstances.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr R N Varsani - Director

22 September 2025

TURNOVER

10,096,974

11,891,086

Cost of sales

10,294,680

13,370,904

GROSS LOSS

(197,706

)

(1,479,818

)

Administrative expenses

1,225,942

1,390,831

(1,423,648

)

(2,870,649

)

Interest payable and similar expenses

4

110,271

109,963

LOSS BEFORE TAXATION

(1,533,919

)

(2,980,612

)

Tax on loss

(1,089,061

)

(2,424

)

LOSS FOR THE FINANCIAL YEAR

(444,858

)

(2,978,188

)

Loss attributable to:

Owners of the parent

(444,858

)

(2,978,188

)

LOSS FOR THE YEAR

(444,858

)

(2,978,188

)

OTHER COMPREHENSIVE INCOME

Currency translation differences

34,007

(82,119

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

34,007

(82,119

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(410,851

)

(3,060,307

)

Total comprehensive income attributable to:

Owners of the parent

(410,851

)

(3,060,307

)

CURRENT ASSETS

Debtors

7

4,682,385

3,462,500

Cash and cash equivalents

292,244

953,678

4,974,629

4,416,178

CREDITORS

Amounts falling due within one year

8

4,033,995

2,814,693

NET CURRENT ASSETS

940,634

1,601,485

TOTAL ASSETS LESS CURRENT LIABILITIES

940,634

1,601,485

CREDITORS

Amounts falling due after more than one year

9

475,000

725,000

NET ASSETS

465,634

876,485

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

465,534

876,385

SHAREHOLDERS' FUNDS

465,634

876,485

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's profit or loss 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 and the group.

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

The financial statements were approved by the director and authorised for issue on 22 September 2025 and were signed by:

Mr R N Varsani - Director

FIXED ASSETS

Investments

6

60

60

CURRENT ASSETS

Debtors

7

4,200,642

3,391,101

Cash and cash equivalents

177,369

385,116

4,378,011

3,776,217

CREDITORS

Amounts falling due within one year

8

3,459,142

2,296,878

NET CURRENT ASSETS

918,869

1,479,339

TOTAL ASSETS LESS CURRENT LIABILITIES

918,929

1,479,399

CREDITORS

Amounts falling due after more than one year

9

475,000

725,000

NET ASSETS

443,929

754,399

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

443,829

754,299

SHAREHOLDERS' FUNDS

443,929

754,399

Company's loss for the financial year

(310,470

)

(2,464,979

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 22 September 2025 and were signed by:

Mr R N Varsani - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

3,936,692

3,936,792

Changes in equity

Total comprehensive income

-

(3,060,307

)

(3,060,307

)

Balance at 31 December 2023

100

876,385

876,485

Changes in equity

Total comprehensive income

-

(410,851

)

(410,851

)

Balance at 31 December 2024

100

465,534

465,634

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

3,219,278

3,219,378

Changes in equity

Total comprehensive income

-

(2,464,979

)

(2,464,979

)

Balance at 31 December 2023

100

754,299

754,399

Changes in equity

Total comprehensive income

-

(310,470

)

(310,470

)

Balance at 31 December 2024

100

443,829

443,929

1.	STATUTORY INFORMATION

Excelerated ProcurementSolutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The group financial statements consolidate the financial statements of Excelerated Procurement Solutions Ltd and all of its subsidiary undertakings drawn up to 31 December each year.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2023 - 57 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 24 (2023 - 18 ) .

31.12.24

31.12.23

£

£

Director's remuneration

176,667

80,000

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Bank loan interest

110,271

109,963

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

60

NET BOOK VALUE

At 31 December 2024

60

At 31 December 2023

60

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Trade debtors

1,651,762

1,574,857

1,047,055

962,215

Amounts owed by group undertakings

-

-

-

648,153

Amounts owed by related companies

1,848,500

1,776,471

1,976,697

1,690,536

Other debtors

5,099

23,017

2,175

4,543

Tax

87,963

88,155

85,654

85,654

Deferred tax asset

1,089,061

-

1,089,061

-

4,682,385

3,462,500

4,200,642

3,391,101

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Bank loans and overdrafts (see note 10)

250,000

250,000

250,000

250,000

Trade creditors

651,949

835,441

260,452

540,959

Amounts owed to group undertakings

-

-

585,662

-

Social security and other taxes

795,302

261,906

584,044

171,133

VAT

550,444

200,221

452,001

157,729

Other creditors

133,050

268,274

120,691

240,547

Directors' current accounts

323,890

323,890

323,890

323,890

Accruals and deferred income

870,929

347,985

516,438

312,023

Accrued expenses

458,431

326,976

365,964

300,597

4,033,995

2,814,693

3,459,142

2,296,878

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Bank loans (see note 10)

475,000

725,000

475,000

725,000

10.

LOANS

An analysis of the maturity of loans is given below:

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Amounts falling due within one year or on

demand:

Bank loans

250,000

250,000

250,000

250,000

Amounts falling due between one and two

years:

Bank loans - 1-2 years

250,000

250,000

250,000

250,000

Amounts falling due between two and five

years:

Bank loans - 2-5 years

225,000

475,000

225,000

475,000

11.	SECURED DEBTS

The following secured debts are included within creditors:

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Bank loans

725,000

975,000

725,000

975,000

The bank facilities are secured by way of a first legal charge on freehold/leasehold properties of the company, first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future. In addition first floating charge over all assets and undertaking both present and future.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Ordinary

0.01

100

100

13.

RESERVES

Group

Retained

earnings

£

At 1 January 2024

876,385

Deficit for the year

(444,858

)

Foreign currency translation

34,007

At 31 December 2024

465,534

14.	RELATED PARTY DISCLOSURES

During the year, the company paid rent of £42,000 (2023: £42,000) to Krispar Investments & Properties Ltd, a company in which the directors have a material interest. The directors consider that the rent was charged at market rates.

At the year end, the group was owed £1,847,119 (2023: £1,775,091) from Cordis Solutions Limited, a company in which the directors have a material interest. The balance comprises trade and other receivables, including short-term loans. It is unsecured, carries no interest, and is repayable on demand.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is R N Varsani.