Company No: 07121967 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	77,498		119,056
Tangible assets	4	4,731		5,452
		82,229		124,508
Current assets
Debtors	5	14,788		21,511
Cash at bank and in hand		154,050		225,842
		168,838		247,353
Creditors: amounts falling due within one year	6	( 111,581)		( 139,279)
Net current assets		57,257		108,074
Total assets less current liabilities		139,486		232,582
Net assets		139,486		232,582
Capital and reserves
Called-up share capital	7	2		2
Profit and loss account		139,484		232,580
Total shareholder's funds		139,486		232,582

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of East of Exe Limited (registered number: 07121967) were approved and authorised for issue by the Board of Directors on 30 April 2026. They were signed on its behalf by:

Mrs E Carter Director

Mrs J Robson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

East of Exe Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 61 Fore Street, Topsham, Exeter, EX3 0HL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of services to customers. Revenue is recognised when the invoice is raised.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements	4 years straight line
Fixtures and fittings	4 years straight line
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities 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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		13

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2025	517,472		517,472
At 31 December 2025	517,472		517,472
Accumulated amortisation
At 01 January 2025	398,416		398,416
Charge for the financial year	41,558		41,558
At 31 December 2025	439,974		439,974
Net book value
At 31 December 2025	77,498		77,498
At 31 December 2024	119,056		119,056

4. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2025	24,979		21,500		15,573		62,052
Additions	0		0		1,527		1,527
At 31 December 2025	24,979		21,500		17,100		63,579
Accumulated depreciation
At 01 January 2025	24,943		18,000		13,657		56,600
Charge for the financial year	36		1,246		966		2,248
At 31 December 2025	24,979		19,246		14,623		58,848
Net book value
At 31 December 2025	0		2,254		2,477		4,731
At 31 December 2024	36		3,500		1,916		5,452

5. Debtors

	2025		2024
	£		£
Trade debtors	150		11,630
Amounts owed by Group undertakings	11,621		7,500
Prepayments	3,017		2,381
	14,788		21,511

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	3,087		1,960
Accruals	7,407		2,942
Taxation and social security	97,387		131,778
Other creditors	3,700		2,599
	111,581		139,279

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary Class shares of £ 1.00 each	2		2

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	18,600		18,600
between one and five years	52,700		71,300
Total future minimum lease payments under non-cancellable operating leases	71,300		89,900

9. Ultimate controlling party

Parent Company:

Carter & Robson Limited

61 Fore Street, Topsham, Exeter, England, EX3 0HL