The Challenge of Excellence Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02313738

The Challenge of Excellence Limited

Filleted Unaudited Financial Statements

30 November 2025

The Challenge of Excellence Limited

Statement of Financial Position

30 November 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		3,308	3,217

Current assets

Debtors	5	16,321	14,570
Cash at bank and in hand		2,286	8,188
		--------	--------
		18,607	22,758

Creditors: amounts falling due within one year	6	97,114		98,333
		--------		--------
Net current liabilities			78,507	75,575
			--------	--------
Total assets less current liabilities			( 75,199)	( 72,358)
			--------	--------
Net liabilities			( 75,199)	( 72,358)
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 75,299)	( 72,458)
	--------	--------
Shareholders deficit	( 75,199)	( 72,358)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Challenge of Excellence Limited

Statement of Financial Position (continued)

30 November 2025

These financial statements were approved by the board of directors and authorised for issue on 5 August 2026 , and are signed on behalf of the board by:

Ms S R Kaye
Director

Company registration number: 02313738

The Challenge of Excellence Limited

Notes to the Financial Statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director has indicated her willingness to provide financial support for the foreseeable future and on this basis, considers that the going concern basis of preparation is appropriate.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 December 2024	3,419	3,419
Additions	1,104	1,104
	-------	-------
At 30 November 2025	4,523	4,523
	-------	-------
Depreciation
At 1 December 2024	202	202
Charge for the year	1,013	1,013
	-------	-------
At 30 November 2025	1,215	1,215
	-------	-------
Carrying amount
At 30 November 2025	3,308	3,308
	-------	-------
At 30 November 2024	3,217	3,217
	-------	-------

5. Debtors

	2025	2024
	£	£
Trade debtors	648	–
Other debtors	15,673	14,570
	--------	--------
	16,321	14,570
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	–	12
Other creditors	97,114	98,321
	--------	--------
	97,114	98,333
	--------	--------

7. Director's advances, credits and guarantees

At the year end, the company owed the director £95,147 (2024: £96,113). The loan is interest free and repayable on demand.