Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Exel Construction Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Thoroughgood

J Thoroughgood

M Langley

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

02854849 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8/10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

1,893

6,529

CURRENT ASSETS

Stocks

5

-

346,512

Debtors

6

177,684

2,125,536

Cash at bank and in hand

374,511

802,881

552,195

3,274,929

CREDITORS

Amounts falling due within one year

7

550,833

1,933,238

NET CURRENT ASSETS

1,362

1,341,691

TOTAL ASSETS LESS CURRENT LIABILITIES

3,255

1,348,220

CAPITAL AND RESERVES

Called up share capital

8

1,100

1,100

Retained earnings

2,155

1,347,120

SHAREHOLDERS' FUNDS

3,255

1,348,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2026 and were signed on its behalf by:

D J Thoroughgood - Director

1.	STATUTORY INFORMATION

Exel Construction 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover reflects the contract activity during the year and reflects the fair value of the contract work completed. The attributable profit on contracts is recognised as contracts progress. Full provision is made for losses in the year in which the loss is first foreseen. Retentions are treated as receivable when agreed with clients.

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

-

20% on cost

Computer equipment

-

Straight line over 3 years

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Joint ventures

The company participates in joint ventures on property developments. These are operated through separate LLP's. The company reports these transactions on a proportional basis with the share of the transaction reflected in the company accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2025 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2025

34,673

56,371

91,044

Additions

242

-

242

Disposals

(1,200

)

-

(1,200

)

At 31 March 2026

33,715

56,371

90,086

DEPRECIATION

At 1 April 2025

31,869

52,646

84,515

Charge for year

1,052

3,159

4,211

Eliminated on disposal

(533

)

-

(533

)

At 31 March 2026

32,388

55,805

88,193

NET BOOK VALUE

At 31 March 2026

1,327

566

1,893

At 31 March 2025

2,804

3,725

6,529

5.

STOCKS

2026

2025

£

£

Work-in-progress

-

346,512

6.

DEBTORS

2026

2025

£

£

Amounts falling due within one year:

Trade debtors

100,812

329,798

Amounts recoverable on contract

42,177

327,740

Other debtors

(1,433,728

)

-

Loan to connected company

1,437,425

1,424,333

Tax

-

9,061

Prepayments and accrued income

11,323

14,929

158,009

2,105,861

Amounts falling due after more than one year:

Rent Deposit

19,675

19,675

Aggregate amounts

177,684

2,125,536

Included in long term debtors is £12,925 (2021: £12,925) in relation to a rent deposit deed with Dorset Freedom Properties Limited.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

475,387

1,744,659

Tax

31,488

27,857

Social security and other taxes

19,898

103,665

VAT

4,060

4,283

Other creditors

20,000

20,000

Accrued expenses

-

32,774

550,833

1,933,238

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1,000

Ordinary

£1

1,000

1,000

100

Ordinary B Shares

£1

100

100

1,100

1,100

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D J Thoroughgood.