REGISTERED NUMBER: 08805999 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

EXCEL FIELDWORK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G A Parlange Iturmendi

REGISTERED OFFICE:

83 Cambridge Street

Pimlico

London

SW1V 4PS

REGISTERED NUMBER:

08805999 (England and Wales)

AUDITORS:

George Hay & Company

Chartered Accountants

& Statutory Auditors

83 Cambridge Street

Pimlico

London

SW1V 4PS

CURRENT ASSETS

Debtors

4

2,786,824

1,983,653

Cash at bank

17,111

76,867

2,803,935

2,060,520

CREDITORS

Amounts falling due within one year

5

1,448,677

846,483

NET CURRENT ASSETS

1,355,258

1,214,037

TOTAL ASSETS LESS CURRENT LIABILITIES

1,355,258

1,214,037

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,355,257

1,214,036

SHAREHOLDERS' FUNDS

1,355,258

1,214,037

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd September 2026 and were signed by:

G A Parlange Iturmendi - Director

1.	STATUTORY INFORMATION

Excel Fieldwork 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net amounts invoiced for services rendered in the course of ordinary activities and is recognised when the relevant services have been performed or the performance objectives are satisfied. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

2,662,125

1,894,661

Other debtors

26,049

3,790

VAT

98,650

85,202

2,786,824

1,983,653

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

840,770

613,861

Amounts owed to group undertakings

341,709

113,384

Corporation tax payable

376

91,156

Social security and other taxes

62,921

-

Pension control account

3,520

-

Accruals and deferred income

199,381

28,082

1,448,677

846,483

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

73,570

-

Between one and five years

63,850

-

137,420

-

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Davis FCA FCCA (Senior Statutory Auditor)

for and on behalf of George Hay & Company

8.	RELATED PARTY DISCLOSURES

The company made combined sales of £5,805,540 (2024: £4,658,097) to A+A SAS, its connected company who is registered in France, and to A+A Bell Falla LLC and A+A Research Inc, its connected companies both registered in the United State of America.

As at 31 December 2025, the connected companies owed a combined balance of £2,662,125 (2024: £1,894,661) to Excel Fieldwork Limited.

As at 31 December 2025, the company owed A+A SAS, its connected company purchase invoices amounting to £341,709 (2024: £113,384) at the year end..

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A+A Research SAS which owns 100% of the issued share capital.