Registered number
11487840
Eagle Adventures Ltd
Filleted Accounts
31 July 2023
Eagle Adventures Ltd
Registered number: 11487840
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 49,896 55,906
Investments 4 49,624 68,140
99,520 124,046
Current assets
Cash at bank and in hand 80 17,006
Creditors: amounts falling due within one year 5 (134,818) (108,611)
Net current liabilities (134,738) (91,605)
Total assets less current liabilities (35,218) 32,441
Creditors: amounts falling due after more than one year 6 (62,761) (76,803)
Net liabilities (97,979) (44,362)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 (980,879) (948,849)
Profit and loss account 882,800 904,387
Shareholder's funds (97,979) (44,362)
Average number of employees - -
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Chuka Odogwu
Director
Approved by the board on 22 April 2024
Eagle Adventures Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 20% reducing balance
Plant and machinery 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 7,495 62,100 69,595
Additions 559 5,900 6,459
At 31 July 2023 8,054 68,000 76,054
Depreciation
At 1 August 2022 1,269 12,420 13,689
Charge for the year 1,357 11,112 12,469
At 31 July 2023 2,626 23,532 26,158
Net book value
At 31 July 2023 5,428 44,468 49,896
At 31 July 2022 6,226 49,680 55,906
4 Investments
Other
investments
£
Cost
At 1 August 2022 68,140
Revaluation 8,477
Disposals (26,993)
At 31 July 2023 49,624
Historical cost
At 1 August 2022 112,610
At 31 July 2023 112,610
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 134,249 109,133
Taxation and social security costs - (1,091)
Other creditors 569 569
134,818 108,611
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 62,761 76,803
7 Revaluation reserve 2023 2022
£ £
Deferred taxation arising on the revaluation of land and buildings (32,030) (948,849)
At 31 July 2023 (980,879) (948,849)
8 Other information
Eagle Adventures Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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