Registration number:
Report of the Director and
for the
Year Ended 30 November 2023
fo
r
Bear Capital Group Limited
Bear Capital Group Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Registered office |
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Accounting policies |
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Going concern |
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Depreciation |
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Other non-current financial assets |
Bear Capital Group Limited
Company Information
Directors: |
Anthony Kerr Patricia Kerr |
Registered office: |
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Registered number: |
12330638 |
Accountants: |
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Bear Capital Group Limited
(Registration number: 12330638)
Balance Sheet as at 30 November 2023
Note |
30.11.23 |
30.11.22 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
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Investment property |
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- |
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Investments |
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|
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Other financial assets |
18,325,130 |
17,382,004 |
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CURRENT ASSETS |
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Debtors |
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2,632,451 |
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Cash at bank and in hand |
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|
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CREDITORS |
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Creditors within 1yr |
1,076,895 |
16,957,535 |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
34,831,056 |
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Creditors
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|
|
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PROVISIONS FOR LIABILITES |
( |
- |
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Net assets/(liabilities) |
|
( |
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CAPITAL AND RESERVES |
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Called up share capital |
204 |
204 |
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Fair value reserve |
76,523 |
(548,128) |
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Profit and loss account |
27,059,174 |
(1,041,417) |
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Shareholders' funds/(deficit) |
27,135,901 |
(1,589,341) |
For the financial 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.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Bear Capital Group Limited
(Registration number: 12330638)
Balance Sheet as at 30 November 2023 (continued)
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
1. |
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
England
2. |
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
3 years |
Investment property
Merger accounting
Investments
Investments are measured at fair value with changes recognised in profit or loss. A fair value reserve represents the revaluation surplus less provision for deferred tax at the year-end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
2 |
Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
4. |
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 December 2022 |
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Additions |
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At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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5. |
Investment properties |
30.11.23 |
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Additions |
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At 30 November |
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The properties were revalued at the year on an open market basis by the director(s).
6. |
Investments |
Subsidiaries |
£ |
Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
6 |
Investments (continued) |
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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1st floor, Frameworks, 2 Sheen Road, London, Richmond, United Kingdom,TW9 1AE England and Wales |
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1st floor, Frameworks, 2 Sheen Road, London, Richmond, United Kingdom,TW9 1AE England and Wales |
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1st floor, Frameworks, 2 Sheen Road, Richmond, England TW9 1AE England and Wales |
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6b Delta Bank Road, metro Riverside Park, Gateshead, Englad, NE119DJ England and Wales |
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Subsidiary undertakings |
Bear Capital Ventures Limited The principal activity of Bear Capital Ventures Limited is |
Bear Capital Properties Ltd The principal activity of Bear Capital Properties Ltd is |
Escape Velocity Ventures Ltd The principal activity of Escape Velocity Ventures Ltd is |
Dialect Communications Ltd The principal activity of Dialect Communications Ltd is |
Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
7. |
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
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Non-current financial assets |
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Cost or valuation |
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At 1 December 2022 |
17,382,005 |
Fair value adjustments |
(8,166,504) |
Additions |
38,745,609 |
Disposals |
(29,635,980) |
At 30 November 2023 |
18,325,130 |
Carrying amount |
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At 30 November 2023 |
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8. |
Debtors |
Current |
Note |
30.11.23 |
30.11.22 |
Amounts owed by related parties |
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Prepayments |
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Other debtors |
- |
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Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
9. |
Creditors |
Creditors: amounts falling due within one year
Note |
30.11.23 |
30.11.22 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Included in other creditors is an amount of £1,036,830 owed to the director. No interest and repayment terms have been set.
Creditors: amounts falling due after more than one year
30.11.23 |
30.11.22 |
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Due after one year |
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Other non-current financial liabilities |
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Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
10. |
Related party transactions |
Loans to related parties
2023 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
Interest transactions |
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At end of period |
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2022 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
Interest transactions |
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At end of period |
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Terms of loans to related parties
Loans from related parties
Bear Capital Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)
10 |
Related party transactions (continued) |
2023 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
Interest transactions |
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At end of period |
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2022 |
Other related parties |
Total |
At start of period |
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Advanced |
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Interest transactions |
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At end of period |
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Terms of loans from related parties
Loan received from one of the subsidiaries is repayable on demand and no interest is payable.