| Exchange Residential Limited |
| Registered number: 04920184 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
2 |
|
|
628 |
|
| Current assets |
| Debtors |
4 |
|
85,891 |
|
|
101,524 |
| Cash at bank and in hand |
|
|
1,780 |
|
|
10,485 |
|
|
|
87,671 |
|
|
112,009 |
|
| Creditors: amounts falling due within one year |
5 |
|
(58,751) |
|
|
(39,310) |
|
| Net current assets |
|
|
|
28,920 |
|
|
72,699 |
|
| Total assets less current liabilities |
|
|
|
28,922 |
|
|
73,327 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(18,350) |
|
|
(40,350) |
|
|
|
| Net assets |
|
|
|
10,572 |
|
|
32,977 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
10,568 |
|
|
32,973 |
|
| Shareholder's funds |
|
|
|
10,572 |
|
|
32,977 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A J Harrison |
| Director |
| Approved by the board on 4 November 2025 |
|
| Exchange Residential Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services in the UK from the principal activities of the company. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
33% straight line |
|
Computer equipment |
33% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2024 |
17,456 |
|
At 31 March 2025 |
17,456 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
16,828 |
|
Charge for the year |
626 |
|
At 31 March 2025 |
17,454 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
2 |
|
At 31 March 2024 |
628 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
16,244 |
|
26,341 |
|
Amounts owed by group undertakings |
|
63,173 |
|
64,673 |
|
Amounts owed by related parties |
|
3,122 |
|
- |
|
Other debtors |
3,352 |
|
10,510 |
|
|
|
|
|
|
85,891 |
|
101,524 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
22,000 |
|
22,000 |
|
Trade creditors |
8,295 |
|
4,549 |
|
Amounts owed to group undertakings |
|
- |
|
6,343 |
|
Taxation and social security costs |
28,456 |
|
6,418 |
|
|
|
|
|
|
58,751 |
|
39,310 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
18,350 |
|
40,350 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
40,350 |
|
62,350 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by a fixed and floating charge over the assets of the company. |
|
|
| 8 |
Related party transactions |
|
|
The company is a wholly owned subsidiary of Arlenia Limited. Accordingly, the company has taken advantage of the exemption under FRS 102 from disclosing transactions with wholly owned members of Arlenia Limited.
Transactions with other related parties are set out below: |
|
|
Adderstone (Sunderland) LLP
I R Baggett is a controlling member of Adderstone (Sunderland) LLP. During the year, the company paid rent, service charge and insurance to Adderstone (Sunderland) LLP totalling £11,717 (2024 - £17,107). At the year end, the company was owed £3,122 from Adderstone (Sunderland) LLP (2024 owed - £5,846). |
|
|
| 9 |
Controlling party |
|
|
The company's immediate and ultimate parent is Arlenia Limited, incorporated in the United Kingdom.
The most senior parent entity producing publicly available financial statements is Arlenia Limited. These financial statements are available upon request from the registered office. |
|
|
| 10 |
Other information |
|
|
Exchange Residential Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Nelson House, The Fleming |
|
Burdon Terrace |
|
Jesmond |
|
Newcastle upon Tyne |
|
NE2 3AE |