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REGISTERED NUMBER: 13208627 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE EXPLORERS COLLECTION LTD

THE EXPLORERS COLLECTION LTD (REGISTERED NUMBER: 132086

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE EXPLORERS COLLECTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J V Lucas





REGISTERED OFFICE: 12 The Burrows
St Georges
Weston Super Mare
BS22 7RP





REGISTERED NUMBER: 13208627 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

THE EXPLORERS COLLECTION LTD (REGISTERED NUMBER: 132086

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,950 6,800

CURRENT ASSETS
Stocks - 446
Debtors 5 35 35
35 481
CREDITORS
Amounts falling due within one year 6 14,313 13,773
NET CURRENT LIABILITIES (14,278 ) (13,292 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,328

)

(6,492

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (9,328 ) (7,492 )
(8,328 ) (6,492 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE EXPLORERS COLLECTION LTD (REGISTERED NUMBER: 132086

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2024 and were signed by:





J V Lucas - Director


THE EXPLORERS COLLECTION LTD (REGISTERED NUMBER: 132086

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

The Explorers Collection Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Despite creditors exceeding debtors the accounts have been prepared on a going concern basis as the director has indicated that they will continue to support the company.

Turnover
Turnover represents goods sold during the period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of ten years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THE EXPLORERS COLLECTION LTD (REGISTERED NUMBER: 132086

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 8,500
AMORTISATION
At 1 March 2023 1,700
Charge for year 850
At 29 February 2024 2,550
NET BOOK VALUE
At 29 February 2024 5,950
At 28 February 2023 6,800

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 35 35

THE EXPLORERS COLLECTION LTD (REGISTERED NUMBER: 132086

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 1
Other creditors 14,313 13,772
14,313 13,773

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the director of £13,773 (2023 - £12,811) which are included in creditors falling due within one year. The balance is interest free and repayable on demand.