Registered number
08937360
Go Below Underground Adventures Ltd
Unaudited Filleted Accounts
31 March 2024
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
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