Registration number: 06838122

EX3TER Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

EX3TER Limited

Company Information

Director

Mr C J Baker

Registered office

115 High Street Crediton Devon EX17 3LG

Accountants

Stapletons Chartered Certified Accountants4 Market Street Crediton Devon EX17 2AJ

EX3TER Limited

(Registration number: 06838122)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	589,194	561,698
Tangible assets	5	53,950	64,210
Other financial assets	6	200	100
		643,344	626,008
Current assets
Debtors	7	343,742	323,248
Cash at bank and in hand		11,737	1,140
		355,479	324,388
Creditors: Amounts falling due within one year	8	(387,089)	(456,680)
Net current liabilities		(31,610)	(132,292)
Total assets less current liabilities		611,734	493,716
Creditors: Amounts falling due after more than one year	8	(653,951)	(533,120)
Provisions for liabilities		(1,386)	(2,415)
Net liabilities		(43,603)	(41,819)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		(43,703)	(41,919)
Shareholders' deficit		(43,603)	(41,819)

For the financial 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.

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 Profit and Loss Account.

Approved and authorised by the director on 25 September 2025
 

EX3TER Limited

(Registration number: 06838122)
Balance Sheet as at 31 December 2024

......................................... Mr C J Baker Director

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
115 High Street
Crediton
Devon
EX17 3LG

These financial statements were authorised for issue by the director on 25 September 2025.

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.

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 sales/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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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
Leasehold property	4% straight line basis
Fixtures and fittings	25% reducing balance basis
Motor vehicles	20% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 17 (2023 - 16).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	983,654	983,654
Additions acquired separately	110,065	110,065
At 31 December 2024	1,093,719	1,093,719
Amortisation
At 1 January 2024	421,956	421,956
Amortisation charge	82,569	82,569
At 31 December 2024	504,525	504,525
Carrying amount
At 31 December 2024	589,194	589,194
At 31 December 2023	561,698	561,698

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	7,269	97,251	62,000	166,520
Additions	-	5,462	-	5,462
At 31 December 2024	7,269	102,713	62,000	171,982
Depreciation
At 1 January 2024	5,671	66,383	30,256	102,310
Charge for the year	291	9,082	6,349	15,722
At 31 December 2024	5,962	75,465	36,605	118,032
Carrying amount
At 31 December 2024	1,307	27,248	25,395	53,950
At 31 December 2023	1,598	30,868	31,744	64,210

6	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	100	100
Additions	100	100
At 31 December 2024	200	200
Impairment
Carrying amount
At 31 December 2024	200	200

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

Current	Note	2024 £	2023 £
Trade debtors		14,503	13,872
Amounts owed by related parties	11	292,792	308,001
Prepayments		4,529	-
Other debtors		31,918	1,375
		343,742	323,248

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	211,726	159,545
Trade creditors		40,183	64,367
Taxation and social security		118,912	166,780
Accruals and deferred income		2,469	45,479
Other creditors		13,799	20,509
		387,089	456,680

Included within 'Creditors: Amounts falling due within one year' are net obligations under hire purchase contracts which are secured of £8,064 (2023 - £8,064).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	653,951	533,120

Included within 'Creditors: Amounts falling due after more than one year' are net obligations under hire purchase contracts which are secured of £16,382 (2023 - £24,446).

Borrowing facilities provided by Winkworth Franchising Ltd are secured by a fixed and floating charge over the company's assets by way of a debenture dated 9 April 2021.

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	26,946	30,203
Hire purchase contracts	16,382	24,446
Other borrowings	610,623	478,471
	653,951	533,120

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	82,669	5,060
Hire purchase contracts	8,064	8,064
Other borrowings	120,993	146,421
	211,726	159,545

11	Related party transactions

Transactions with the director

2024	At 1 January 2024 £	Advances to director £	At 31 December 2024 £
Mr C J Baker
Director's loan account	1,376	30,541	31,917

EX3TER Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Summary of transactions with parent

Included within 'Debtors' is a balance due from the parent company. During the year, management services were provided by this company at an arms length value amounting to £70,000 (2023 - Nil). At the balance sheet date the amount due from Gekko Investments Ltd was £292,792 (2023 - £308,001).

12	Parent and ultimate parent undertaking

The company's immediate parent is Gekko Investments Ltd, incorporated in England and Wales.