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Registered number: 12339944
Exotic Explorers (Essex) Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
GC Accountancy Management Service Ltd
Howes Farm Office
Doddinghurst Road Pilgrims Hatch
Brentwood
Essex
CM15 0SG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12339944
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,831 10,418
Investment Properties 5 9,996 9,553
16,827 19,971
CURRENT ASSETS
Stocks 6 12,201 -
Debtors 7 14,726 8,291
Cash at bank and in hand 20,400 444
47,327 8,735
Creditors: Amounts Falling Due Within One Year 8 (28,759 ) (28,539 )
NET CURRENT ASSETS (LIABILITIES) 18,568 (19,804 )
TOTAL ASSETS LESS CURRENT LIABILITIES 35,395 167
Creditors: Amounts Falling Due After More Than One Year 9 (8,102 ) (13,149 )
NET ASSETS/(LIABILITIES) 27,293 (12,982 )
CAPITAL AND RESERVES
Called up share capital 10 30,100 100
Profit and Loss Account (2,807 ) (13,082 )
SHAREHOLDERS' FUNDS 27,293 (12,982)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Benjamin Gregory
Director
16/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Exotic Explorers (Essex) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12339944 . The registered office is 1 Kensington Road, Brentwood, CM15 9LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Staight Line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 20% Staight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 December 2022 5,677 20,500 786 163 27,126
As at 30 November 2023 5,677 20,500 786 163 27,126
Depreciation
As at 1 December 2022 4,409 11,852 348 99 16,708
Provided during the period 1,274 2,166 114 33 3,587
As at 30 November 2023 5,683 14,018 462 132 20,295
Net Book Value
As at 30 November 2023 (6 ) 6,482 324 31 6,831
As at 1 December 2022 1,268 8,648 438 64 10,418
5. Investment Property
2023
£
Fair Value
As at 1 December 2022 9,553
Additions 1,705
Revaluations (1,262)
As at 30 November 2023 9,996
Investments are the animals, insects, birds etc., puchased and maintained for display use had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 13,945 12,156
Accumulated depreciation and impairment 4,096 2,791
Carrying amount 9,849 9,365
6. Stocks
2023 2022
£ £
Materials 7,068 -
Work in progress 5,133 -
12,201 -
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 14,633 8,291
VAT 93 -
14,726 8,291
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 6,006 6,006
Other taxes and social security 422 275
Other creditors 13,214 452
HP Van Loan < 1yr - 1,503
Accruals and deferred income 750 751
Directors' loan accounts 8,367 9,552
Amounts owed to related parties - 10,000
28,759 28,539
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bounce Back Loan 8,102 13,149
8,102 13,149
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30,100 100
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