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Registered number: 06807312
Exelsys Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06807312
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 53,216 70,955
Tangible Assets 5 8,015 8,237
Investments 6 - 1
61,231 79,193
CURRENT ASSETS
Debtors 7 167,326 178,070
Cash at bank and in hand 239,471 230,350
406,797 408,420
Creditors: Amounts Falling Due Within One Year 8 (179,017 ) (198,632 )
NET CURRENT ASSETS (LIABILITIES) 227,780 209,788
TOTAL ASSETS LESS CURRENT LIABILITIES 289,011 288,981
NET ASSETS 289,011 288,981
CAPITAL AND RESERVES
Called up share capital 9 1,000,000 1,000,000
Share premium account 400,000 400,000
Other reserves 12,289 25,370
Profit and Loss Account (1,123,278 ) (1,136,389 )
SHAREHOLDERS' FUNDS 289,011 288,981
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kyriacos Fiakkas
Director
29/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Exelsys Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06807312 . The registered office is 21 Aylmer Parade, Aylmer Road, London, N2 0AT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Intellectual Property rights and computer software. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 10% Reducing Balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 703,711
As at 31 December 2024 703,711
Amortisation
As at 1 January 2024 632,756
Provided during the period 17,739
As at 31 December 2024 650,495
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2024 53,216
As at 1 January 2024 70,955
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 12,041 9,625 21,666
Additions - 1,156 1,156
As at 31 December 2024 12,041 10,781 22,822
Depreciation
As at 1 January 2024 7,650 5,779 13,429
Provided during the period 878 500 1,378
As at 31 December 2024 8,528 6,279 14,807
Net Book Value
As at 31 December 2024 3,513 4,502 8,015
As at 1 January 2024 4,391 3,846 8,237
6. Investments
Other
£
Cost or Valuation
As at 1 January 2024 1
As at 31 December 2024 1
Provision
As at 1 January 2024 -
Impairment losses 1
As at 31 December 2024 1
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 1
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 121,288 132,705
Other debtors 46,038 45,365
167,326 178,070
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 131,500 149,862
Bank loans and overdrafts 3,970 3,336
Other creditors 17,184 19,035
Taxation and social security 26,363 26,399
179,017 198,632
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000,000 1,000,000
Page 5