ACCOUNTS - Final Accounts preparation

Registered number: 15263944

REXANGEL LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

REXANGEL LTD

REGISTERED NUMBER: 15263944

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		4,868		6,136
Tangible assets	5		4,226,897		1,777,543
			4,231,765		1,783,679
Current assets
Stocks		66,747		50,074
Debtors: amounts falling due after more than one year	6	130,000		180,000
Debtors: amounts falling due within one year	6	200,417		193,559
Cash at bank and in hand	7	334,121		125,280
		731,285		548,913
Creditors: amounts falling due within one year	8	(1,931,167)		(1,970,770)
Net current liabilities			(1,199,887)		(1,421,858)
Total assets less current liabilities			3,031,878		361,821
Creditors: amounts falling due after more than one year	9		(3,806,102)		(1,123,357)

Net liabilities			(774,224)		(761,536)

Capital and reserves
Called up share capital			1		1
Share premium account			110,000		-
Profit and loss account			(884,225)		(761,537)
			(774,224)		(761,536)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 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.

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REXANGEL LTD

REGISTERED NUMBER: 15263944

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2025

The Company has opted not to file the profit and loss account 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 and were signed on its behalf on 9 July 2026.

................................................

Desmond Antony Lalith Gunewardena

Director

The notes on pages 4 to 10 form part of these financial statements.

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		REXANGEL LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

		Called up share capital	Share premium account	Profit and loss account	Total equity
		£	£	£	£
	Comprehensive income for the period
	Loss for the period	-	-	(761,537)	(761,537)
	Total comprehensive income for the period	-	-	(761,537)	(761,537)
	Contributions by and distributions to owners
	Shares issued during the period	1	-	-	1

	At 1 October 2024	1	-	(761,537)	(761,536)

	Loss for the year	-	-	(122,688)	(122,688)
	Shares issued during the year	-	110,000	-	110,000
	At 30 September 2025	1	110,000	(884,225)	(774,224)

The notes on pages 4 to 10 form part of these financial statements.

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REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.	General information

REXANGEL LTD is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registration number and office address are as below:

Registered number : 15263944

Registered office : The Mezzanine, First Floor, Royal Exchange, London, England, EC3V 3LQ

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.3

Operating leases: the Company as lessee

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.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.7

Tangible fixed assets

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.

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REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

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:

				Right to use Asset	-		SLM over the lease period
				Short-term leasehold property	-	7%
				Plant and machinery	-	20%
				Fixtures and fittings	-	20%
				Office equipment	-	20%
				Computer equipment	-	20%

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.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Debtors

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.

2.10

Cash and cash equivalents

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.

2.11

Creditors

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.

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REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3.

Employees

The average monthly number of employees, including directors, during the year was 37 (2024 - 16).

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 October 2024	6,341
	At 30 September 2025	6,341
	Amortisation
	At 1 October 2024	205
	Charge for the year on owned assets	1,268
	At 30 September 2025	1,473
	Net book value
	At 30 September 2025	4,868
	At 30 September 2024	6,136

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		REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

5.

Tangible fixed assets

		Right to use asset	Short-term leasehold property	Plant and machinery	Fixtures and fittings	Office equipment	Computer equipment	Total
		£	£	£	£	£	£	£
	Cost or valuation
	At 1 October 2024	-	1,634,561	114,009	38,448	7,923	30,381	1,825,322
	Additions	2,797,653	30,867	21,700	12,339	2,621	-	2,865,180
	Disposals	-	(74,794)	-	-	-	-	(74,794)
	At 30 September 2025	2,797,653	1,590,634	135,709	50,787	10,544	30,381	4,615,708
	Depreciation
	At 1 October 2024	-	39,689	4,626	1,766	303	1,395	47,779
	Charge for the year on owned assets	192,942	106,301	24,466	9,318	1,929	6,076	341,032
	At 30 September 2025	192,942	145,990	29,092	11,084	2,232	7,471	388,811
	Net book value
	At 30 September 2025	2,604,711	1,444,644	106,617	39,703	8,312	22,910	4,226,897
	At 30 September 2024	-	1,594,872	109,383	36,682	7,620	28,986	1,777,543

6.

Debtors

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REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

					2025	2024
					£	£

	Due after more than one year
	Other debtors	130,000	180,000
		130,000	180,000

					2025	2024
					£	£

	Due within one year
	Trade debtors	30,394	32,843
	Amounts owed by group undertakings	53,302	3,888
	Other debtors	-	83,737
	Called up share capital not paid	-	1
	Prepayments and accrued income	116,721	73,090
		200,417	193,559

7.	Cash and cash equivalents
					2025	2024
					£	£

	Cash at bank and in hand	334,121	125,280
		334,121	125,280

8.	Creditors: Amounts falling due within one year
					2025	2024
					£	£

	Other loans	(11,741)	-
	Trade creditors	525,001	603,248
	Amounts owed to group undertakings	763,153	834,940
	Other taxation and social security	152,973	19,800
	Obligations under finance lease and hire purchase contracts	141,699	-
	Other creditors	283,569	230,863
	Accruals and deferred income	76,513	281,919
		1,931,167	1,970,770

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REXANGEL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

9.	Creditors: Amounts falling due after more than one year
					2025	2024
					£	£

	Net obligations under finance leases and hire purchase contracts	2,682,791	-
	Accruals and deferred income	1,123,311	1,123,357
		3,806,102	1,123,357

10.	Controlling party

The Parent company is Angeltopco Ltd, a company incorporated in the England & wales.

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