Exmouth Consulting Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Exmouth Consulting Limited

(Registration number: 05244685)
Statement of Financial Position as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,248	1,674
Current assets
Debtors	5	29	17
Cash at bank and in hand		2,845	1,582
		2,874	1,599
Creditors: Amounts falling due within one year	6	(72,247)	(79,400)
Net current liabilities		(69,373)	(77,801)
Net liabilities		(68,125)	(76,127)
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		(69,125)	(77,127)
Shareholders' deficit		(68,125)	(76,127)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 26 September 2025
 

Mr Jeremy Clarke Director

Exmouth Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Queens House
42-44 New Street
Honiton
Devon
EX14 1BJ

Principal activity

The principal activity of the company is that of developing software.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Exmouth Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Exmouth Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Exmouth Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 October 2023	11,067	11,067
At 30 September 2024	11,067	11,067
Depreciation
At 1 October 2023	9,393	9,393
Charge for the year	426	426
At 30 September 2024	9,819	9,819
Carrying amount
At 30 September 2024	1,248	1,248
At 30 September 2023	1,674	1,674

5

Debtors

	2024 £	2023 £
Prepayments	29	17
	29	17

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Accruals and deferred income	3,440	3,134
Other creditors	68,807	76,266
	72,247	79,400

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Exmouth Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

8	Related party transactions

At 30 September 2024 amounts owed to directors by way of loan were £68,807 (2023: £76,266). Directors’ loans are repayable on demand and subject to interest on overdrawn balances at the official rate.

9	Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.