Go Below Underground Adventures Ltd |
Registered number: |
08937360 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
22,574 |
|
|
27,279 |
Tangible assets |
4 |
|
|
111,815 |
|
|
148,206 |
|
|
|
|
134,389 |
|
|
175,485 |
|
Current assets |
Stocks |
|
|
27,000 |
|
|
27,000 |
Debtors |
5 |
|
2,675 |
|
|
1,197 |
Cash at bank and in hand |
|
|
90,942 |
|
|
7,785 |
|
|
|
120,617 |
|
|
35,982 |
|
Creditors: amounts falling due within one year |
6 |
|
(213,266) |
|
|
(110,049) |
|
Net current liabilities |
|
|
|
(92,649) |
|
|
(74,067) |
|
Total assets less current liabilities |
|
|
|
41,740 |
|
|
101,418 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(13,277) |
|
|
(24,993) |
|
|
|
Net assets |
|
|
|
28,463 |
|
|
76,425 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
28,461 |
|
|
76,423 |
|
Shareholders' funds |
|
|
|
28,463 |
|
|
76,425 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
|
|
|
|
J Moulding |
Director |
Approved by the board on 1 December 2024 |
|
Go Below Underground Adventures Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 rendering of services is recognised by reference to the date that those services are performed. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
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: |
|
|
Plant and machinery |
25% reducing balance |
|
Computer equipment |
33% straight line |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
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. Tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
21 |
|
21 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2023 |
68,216 |
|
At 31 March 2024 |
68,216 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2023 |
40,937 |
|
Provided during the year |
4,705 |
|
At 31 March 2024 |
45,642 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
22,574 |
|
At 31 March 2023 |
27,279 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. Freehold lease premium is being written off over its term of 40 years. |
|
|
4 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2023 |
130,543 |
|
92,472 |
|
223,015 |
|
Additions |
880 |
|
- |
|
880 |
|
At 31 March 2024 |
131,423 |
|
92,472 |
|
223,895 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
47,804 |
|
27,005 |
|
74,809 |
|
Charge for the year |
20,905 |
|
16,366 |
|
37,271 |
|
At 31 March 2024 |
68,709 |
|
43,371 |
|
112,080 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
62,714 |
|
49,101 |
|
111,815 |
|
At 31 March 2023 |
82,739 |
|
65,467 |
|
148,206 |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
2,675 |
|
1,197 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
11,788 |
|
12,000 |
|
Deferred Income |
158,867 |
|
75,785 |
|
Trade creditors |
20,456 |
|
17,927 |
|
Directors Loan Account |
1,686 |
|
33 |
|
Taxation and social security costs |
18,989 |
|
3,135 |
|
Other creditors |
1,480 |
|
1,169 |
|
|
|
|
|
|
213,266 |
|
110,049 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
13,277 |
|
24,993 |
|
|
|
|
|
|
|
|
|
|
8 |
Other financial commitments |
2024 |
|
2023 |
£ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
26,000 |
|
38,000 |
|
|
|
|
|
|
|
|
|
|
9 |
Controlling party |
|
|
The Directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company. |
|
|
10 |
Other information |
|
|
Go Below Underground Adventures Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Glandwr Cottage |
|
Penmachno |
|
Betws-y-Coed |
|
Gwynedd |
|
LL24 0PP |