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Exsel Electronics Limited
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For the year ended 30 April 2025
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Registered number: 11085251
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Exsel Electronics Limited - Registered number:11085251
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Statement of financial position
As at 30 April 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Page 1
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Exsel Electronics Limited - Registered number:11085251
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Statement of financial position (continued)
As at 30 April 2025
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board on 20 April 2026 and were signed on its behalf by:
The notes on pages 3 to 8 form part of these financial statements.
Page 2
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Exsel Electronics Limited
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Notes to the financial statements
For the year ended 30 April 2025
Exsel Electronics Limited is a private company limited by shares incorporated in Egnland & Wales, with registered number 11085251. The registered office and principal place of business is 4 Ravenscroft Court Buttington Cross Enterprise Park, Buttington, Welshpool, Powys, Wales, SY21 8SL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, turnover is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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Operating leases: the company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Page 3
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Exsel Electronics Limited
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Notes to the financial statements
For the year ended 30 April 2025
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, and loans to related parties.
Page 4
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Exsel Electronics Limited
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Notes to the financial statements
For the year ended 30 April 2025
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The average monthly number of employees, including directors, during the year was 13 (unaudited 2024: 18)
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At 1 May 2024 (Unaudited)
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At 1 May 2024 (Unaudited)
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At 30 April 2024 (Unaudited)
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Amounts owed by group undertakings
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Prepayments and accrued income
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Page 5
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Exsel Electronics Limited
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Notes to the financial statements
For the year ended 30 April 2025
5.Debtors (continued)
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Comparative debtor balances have been restated following prior year reclassifications and adjustments:
- Prepayments and accrued income increased by £67,490 (from £Nil to £67,490).
- Amounts due from group undertakings increased by £833,538 (from £2,071,953 to £2,905,491).
- Other debtors decreased by £901,028 (from £901,028 to £Nil).
The reclassifications do not affect the total debtors balance reported as at 30 April 2024.
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Comparative creditor balances have been restated following prior year reclassifications and adjustments:
- Accruals increased by £753,995 (from £Nil to £753,995).
- Other taxation increased by £347,993 (from £41,475 to £389,468).
- Other creditors decreased by £1,096,074 (from £1,102,239 to £6,165).
- Corporation tax payable increased by £41,475 (from £Nil to £41,475).
The reclassifications do not affect the total creditors balance reported as at 30 April 2024.
Prior year restatements that do not relate to reclassifications have been disclosed in note 9.
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Creditors: amounts falling due after more than one year
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Page 6
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Exsel Electronics Limited
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Notes to the financial statements
For the year ended 30 April 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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A prior period error has been identified in relation to incorrect recognition of accrued income of £47,389. This amount was included within accruals and deferred income and therefore, the accruals and deferred income was understated and turnover was overstated by £47,389 respectively.
Net assets for the year has decreased by £47,389 and there was no impact to the Statement of comprehensive income for the current financial year.
Exsel Electronics Limited agreed to lend Explora Security Limited, a company which shared a common director, up to a maximum of £500,000. At the year end the balance of £166,540 (2024: £155,773 (unaudited)) is contained within other debtors.
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The company had no capital commitments at 30 April 2025 or 30 April 2024 (unaudited).
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Page 7
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Exsel Electronics Limited
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Notes to the financial statements
For the year ended 30 April 2025
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Commitments under operating leases
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At 30 April 2025, the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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as restated
(Unaudited)
£
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Later than 1 year and not later than 5 years
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The prior year operating lease commitment as a lessee has been restated, as the previously reported
total of £70,000 was not analysed by maturity (within one year, between two and five years, and after
more than five years) and did not correctly disclose the amounts payable under non-cancellable
agreements.
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Related party transactions
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The company has taken advantage of the exemption available under Section 33.1A of FRS 102 and has not disclosed details of transactions or balances with other wholly-owned group companies.
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The auditor's report on the financial statements for the year ended 30 April 2025 was unqualified.
The audit report was signed on 28 April 2026 by Peter Chapman (Senior statutory auditor) on behalf of Buzzacott Audit LLP.
Page 8
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