REGISTERED NUMBER: 03488931 (England and Wales)

EXEL TECHNOLOGY GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R Moore

SECRETARY:

Mr N D Moxon

REGISTERED OFFICE:

1 Melton Way

Mansfield

Nottinghamshire

NG18 5FU

REGISTERED NUMBER:

03488931 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

FIXED ASSETS

Tangible assets

5

293,320

344,110

Investments

6

301

300

293,621

344,410

CURRENT ASSETS

Stocks

25,796

10,600

Debtors

7

3,957,169

3,593,686

Cash in hand

13

284

3,982,978

3,604,570

CREDITORS

Amounts falling due within one year

8

1,712,389

1,997,640

NET CURRENT ASSETS

2,270,589

1,606,930

TOTAL ASSETS LESS CURRENT LIABILITIES

2,564,210

1,951,340

CREDITORS

Amounts falling due after more than one year

9

(599,903

)

(609,790

)

PROVISIONS FOR LIABILITIES

(74,357

)

(78,573

)

NET ASSETS

1,889,950

1,262,977

CAPITAL AND RESERVES

Called up share capital

11

64,400

64,400

Capital redemption reserve

73,600

73,600

Retained earnings

1,751,950

1,124,977

SHAREHOLDERS' FUNDS

1,889,950

1,262,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2025 and were signed by:

Mr R Moore - Director

1.	STATUTORY INFORMATION

Exel Technology Group 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 Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services to external customers in the ordinary nature of the business. The fair value of consideration takes into account trade discounts. Turnover is shown net of Value Added Tax.

Sale of electronic goods

Turnover is recognised when it and the associated costs can be measured reliably, future economic benefits are probable, and the risks and rewards of ownership have been transferred to the customer. Sales of electronic goods are recognised when goods are delivered and legal title has passed and the company has no continuing managerial involvement associated with ownership or effective control of the goods sold. This is generally when foods have been checked and accepted by the customer on delivery at the specified location.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% straight line and 15% straight line

Motor vehicles

-

25% straight line

Computer equipment

-

33% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average cost basis.

At each reporting date, the company assesses whether stocks are impaired or if an impairment loss recognised in prior periods has been reversed. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in income statement.

Reversals of impairment loss are also recognised in income statement.

Stocks held for distribution at no or nominal consideration are measured at cost, adjusted where applicable for any loss of service potential, i.e. benefits expected from use or sale of the stock.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development

Development expenditure is carried forward when its future recoverability can be foreseen with reasonable assurance and it is amortised in line with sales from the related product. All research and other development costs are written off as incurred.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of inception and the present value of the minimum lease payments. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the Balance Sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rents payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. The amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 35 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

288,102

317,575

330,037

935,714

Additions

551

179,000

6,632

186,183

Disposals

-

(317,575

)

-

(317,575

)

At 31 March 2025

288,653

179,000

336,669

804,322

DEPRECIATION

At 1 April 2024

187,599

131,776

272,229

591,604

Charge for year

8,342

34,780

30,982

74,104

Eliminated on disposal

-

(154,706

)

-

(154,706

)

At 31 March 2025

195,941

11,850

303,211

511,002

NET BOOK VALUE

At 31 March 2025

92,712

167,150

33,458

293,320

At 31 March 2024

100,503

185,799

57,808

344,110

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

300

Additions

1

At 31 March 2025

301

NET BOOK VALUE

At 31 March 2025

301

At 31 March 2024

300

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

114,544

72,927

Amounts owed by related parties

3,733,065

3,408,685

Other debtors

33,160

41,427

Prepayments and accrued income

76,400

70,647

3,957,169

3,593,686

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

107,082

156,717

Other loans

41,677

35,416

Hire purchase contracts

38,591

219,884

Trade creditors

220,199

204,476

Amounts owed to related parties

862,103

631,355

Corporation tax

101,926

54,755

Social security and other taxes

25,112

28,635

VAT

64,406

64,822

Other creditors

16,724

26,697

Directors' current accounts

7,546

305,016

Accruals and deferred income

227,023

269,867

1,712,389

1,997,640

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

306,894

404,352

Other loans - 2-5 years

81,714

123,360

Hire purchase contracts

211,295

82,078

599,903

609,790

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

10,192

64,656

Bank loans

403,784

496,413

Other loans

123,391

158,776

537,367

719,845

The bank loans and overdrafts are secured by an unlimited debenture over the assets of the company. In addition, the directors have provided personal guarantees in respect of the bank loans.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

Value:

£

£

44,397

A Ordinary

£1

44,397

44,397

20,000

B Ordinary

£1

20,000

20,000

1

C Ordinary

£1

1

1

1

D Ordinary

£1

1

1

1

E Ordinary

£1

1

1

64,400

64,400

12.	RELATED PARTY DISCLOSURES