Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Isobel Inglis 17/11/2011 16 September 2024 The principal activity of the Company during the financial year continued to be that of publishing adventure travel maps and guidelines. SC411470 2024-03-31 SC411470 bus:Director1 2024-03-31 SC411470 2023-03-31 SC411470 core:CurrentFinancialInstruments 2024-03-31 SC411470 core:CurrentFinancialInstruments 2023-03-31 SC411470 core:ShareCapital 2024-03-31 SC411470 core:ShareCapital 2023-03-31 SC411470 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC411470 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC411470 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 SC411470 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 SC411470 bus:OrdinaryShareClass1 2024-03-31 SC411470 2023-04-01 2024-03-31 SC411470 bus:FilletedAccounts 2023-04-01 2024-03-31 SC411470 bus:SmallEntities 2023-04-01 2024-03-31 SC411470 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC411470 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC411470 bus:Director1 2023-04-01 2024-03-31 SC411470 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-04-01 2024-03-31 SC411470 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 SC411470 2022-04-01 2023-03-31 SC411470 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC411470 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC411470 (Scotland)

WORLD ADVENTURE GUIDES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

WORLD ADVENTURE GUIDES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

WORLD ADVENTURE GUIDES LTD

BALANCE SHEET

AS AT 31 MARCH 2024
WORLD ADVENTURE GUIDES LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Current assets
Cash at bank and in hand 4 40 32
40 32
Creditors: amounts falling due within one year 5 ( 105,342) ( 104,212)
Net current liabilities (105,302) (104,180)
Total assets less current liabilities (105,302) (104,180)
Net liabilities ( 105,302) ( 104,180)
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account ( 106,302 ) ( 105,180 )
Total shareholders' deficit ( 105,302) ( 104,180)

For the financial year ending 31 March 2024 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 World Adventure Guides Ltd (registered number: SC411470) were approved and authorised for issue by the Director on 16 September 2024. They were signed on its behalf by:

Isobel Inglis
Director
WORLD ADVENTURE GUIDES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
WORLD ADVENTURE GUIDES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
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 year, unless otherwise stated.

General information and basis of accounting

World Adventure Guides Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 2 Urquharts Brae, Carrbridge, PH23 3AZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received for goods provided in the normal course of business.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Intangible assets

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

Development costs 5 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss if any.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Development costs Total
£ £
Cost
At 01 April 2023 64,664 64,664
At 31 March 2024 64,664 64,664
Accumulated amortisation
At 01 April 2023 64,664 64,664
At 31 March 2024 64,664 64,664
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 40 32

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 105,342 104,212

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Class 1 ordinary shares of £ 1.00 each 1,000 1,000

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts due to director 71,267 70,232

The above loan is unsecured, interest free and has no fixed terms of repayment.