Company registration number 09895801 (England and Wales)
EXPLORERS GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
EXPLORERS GROUP LIMITED
CONTENTS
Page
Company Information
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EXPLORERS GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,854
16,677
Current assets
Debtors
5
164,369
182,009
Cash at bank and in hand
20,741
11,823
185,110
193,832
Creditors: amounts falling due within one year
6
(54,775)
(49,410)
Net current assets
130,335
144,422
Total assets less current liabilities
149,189
161,099
Creditors: amounts falling due after more than one year
7
(138,454)
(197,675)
Net assets/(liabilities)
10,735
(36,576)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
10,733
(36,578)
Total equity
10,735
(36,576)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

EXPLORERS GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 October 2023 and are signed on its behalf by:
I Obhi
Director
The notes on pages 3 - 6 form part of these financial statements.
Company Registration No. 09895801
EXPLORERS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Explorers Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, United Kingdom, B75 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

1.3
Intangible fixed assets - goodwill

The directors have assessed the carrying value of good will (which resulted from the purchase of a business in 2016) and have taken the decision to write the balance off in these financial statements.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Reducing balance
Fixtures and fittings
20% Straight line
Computers
33% Reducing balance
Toys & Equipment
20% Reducing balance
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax. Tax is recognised in the profit & loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

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.

 

EXPLORERS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
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 om 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.6
Pension costs and post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
13
13
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
170,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
170,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
EXPLORERS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
40,244
Additions
6,075
At 31 March 2023
46,319
Depreciation and impairment
At 1 April 2022
23,567
Depreciation charged in the year
3,898
At 31 March 2023
27,465
Carrying amount
At 31 March 2023
18,854
At 31 March 2022
16,677
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,300
3,425
Amounts owed by group undertakings
158,069
178,584
164,369
182,009
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
32,268
29,361
Amounts owed to group undertakings
5,860
2,147
Corporation tax
11,060
14,421
Other taxation and social security
2,328
761
Other creditors
3,259
2,720
54,775
49,410
EXPLORERS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
85,733
116,776
Other creditors
52,721
80,899
138,454
197,675
9
Ultimate controlling party

The parent company is Obhi Holdings Limited whose registered office is 88 Hill Village Road, Sutton Coldfield B75 5BE.

The directors of the company are its ultimate controlling party.

 

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