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Registration number: 11405692

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

for
 

Bear Capital Ventures Limited

 

Bear Capital Ventures Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bear Capital Ventures Limited

Company Information

Director:

Anthony Kerr

Registered office:

1st Floor Office
12 King Street
Richmond
London
TW9 1ND

Registered number:

11405692

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Bear Capital Ventures Limited

(Registration number: 11405692)
Balance Sheet as at 30 November 2023

Note

30.11.23

30.11.22

   

£

£

£

£

CURRENT ASSETS

   

 

Debtors

4

 

-

 

15,764,760

Cash at bank and in hand

   

41,576

 

12,024,130

   

41,576

 

27,788,890

CREDITORS

   

 

Creditors within 1yr

5

 

18,199

 

1,047,492

Net assets

   

23,377

 

26,741,398

CAPITAL AND RESERVES

   

 

Called up share capital

 

1

 

1

Share premium reserve

 

-

 

210,399

Profit and loss account

 

23,376

 

26,530,998

Shareholders' funds

   

23,377

 

26,741,398

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 July 2024
 

Anthony Kerr
Director

   
     
 

Bear Capital Ventures 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 England and Wales.

The address of its registered office is:
1st Floor Office
12 King Street
Richmond
London
TW9 1ND

These financial statements were authorised for issue by the director on 22 July 2024.

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 on the basis that the director and associated companies have agreed to support the company for the foreseeable future.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 Ventures 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director) during the year, was 0 (2022 - 0).

4.

Debtors

Current

Note

30.11.23
£

30.11.22
£

Amounts owed by related parties

6

-

15,764,760

   

-

15,764,760

Advance made to the parent is repayable on demand and no interest is charged.

 

Bear Capital Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5.

Creditors

Creditors: amounts falling due within one year

Note

30.11.23
£

30.11.22
£

Due within one year

 

Loans and borrowings

7

-

1,026,282

Accruals and deferred income

 

5,000

8,010

Other creditors

 

13,199

13,200

 

18,199

1,047,492

Included in other creditors is £13,199 owed to the director. No interest or repayment terms have been set.

6.

Related party transactions

Loans to related parties

2023

Parent and other related party
£

Total
£

At start of period

1,026,282

1,026,282

Repaid

(1,026,282)

(1,026,282)

At end of period

-

-

2022

Parent and other related party
£

Total
£

At start of period

2,034,068

2,034,068

Repaid

(1,065,240)

(1,065,240)

Interest transactions

57,454

57,454

At end of period

1,026,282

1,026,282

Loans from related parties

 

Bear Capital Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Related party transactions (continued)

2023

Parent
£

Total
£

At start of period

15,764,760

15,764,760

Advanced

10,947,106

10,947,106

Repaid (as dividend)

(26,711,866)

(26,711,866)

At end of period

-

-

2022

Other related parties
£

Total
£

Advanced

15,764,760

15,764,760

At end of period

15,764,760

15,764,760

7.

Loans and borrowings

30.11.23
£

30.11.22
£

Current loans and borrowings

Other borrowings

-

1,026,282

Interest is charged at 3% over base rate and the loan is repayable on demand.