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Company No: 13511082 (England and Wales)

HUXLEY BEAR LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

HUXLEY BEAR LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

HUXLEY BEAR LIMITED

BALANCE SHEET

As at 31 July 2023
HUXLEY BEAR LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 31.07.2023 31.07.2022
£ £
Fixed assets
Intangible assets 3 346,409 0
Tangible assets 4 1,967 0
348,376 0
Current assets
Debtors 5 8,508 0
Cash at bank and in hand 69,699 1
78,207 1
Creditors: amounts falling due within one year 6 ( 49,357) 0
Net current assets 28,850 1
Total assets less current liabilities 377,226 1
Net assets 377,226 1
Capital and reserves
Called-up share capital 7 100 1
Share premium account 356,151 0
Profit and loss account 20,975 0
Total shareholder's funds 377,226 1

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Huxley Bear Limited (registered number: 13511082) were approved and authorised for issue by the Director on 15 February 2024. They were signed on its behalf by:

C Caddow
Director
HUXLEY BEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
HUXLEY BEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Huxley Bear Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, 90 Victoria Street, Bristol, BS1 6DP, United Kingdom. The principal place of business is North Ascot Community Centre, Fernbank Road, Ascot, Berkshire, SL5 8LA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of discounts and is recognised when services are delivered.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Year ended
31.07.2023
Period from
14.07.2021 to
31.07.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 12 0

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2022 0 0
Additions 377,901 377,901
At 31 July 2023 377,901 377,901
Accumulated amortisation
At 01 August 2022 0 0
Charge for the financial year 31,492 31,492
At 31 July 2023 31,492 31,492
Net book value
At 31 July 2023 346,409 346,409
At 31 July 2022 0 0

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 August 2022 0 0
Additions 2,250 2,250
At 31 July 2023 2,250 2,250
Accumulated depreciation
At 01 August 2022 0 0
Charge for the financial year 283 283
At 31 July 2023 283 283
Net book value
At 31 July 2023 1,967 1,967
At 31 July 2022 0 0

5. Debtors

31.07.2023 31.07.2022
£ £
Trade debtors 3,897 0
Prepayments 4,611 0
8,508 0

6. Creditors: amounts falling due within one year

31.07.2023 31.07.2022
£ £
Amounts owed to director 21,215 0
Accruals 5,369 0
Corporation tax 13,508 0
Other taxation and social security 7,989 0
Other creditors 1,276 0
49,357 0

7. Called-up share capital

31.07.2023 31.07.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each (31.07.2022: 1 share of £ 1.00 ) 100 1

On 4 October 2022 99 ordinary £1 shares were allotted at a premium of £3,597.48485 per ordinary share.