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Bearded Kitten Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Braiden Accounts
Chartered Accountants
Braiden Accounts 26 Waterfront
Brighton Marina Village
Brighton
East Sussex
BN2 5WA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07624831
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 87,121 113,423
87,121 113,423
CURRENT ASSETS
Debtors 5 3,461,863 2,399,002
Investments 6 4,500 4,500
Cash at bank and in hand 3,374,235 1,824,889
6,840,598 4,228,391
Creditors: Amounts Falling Due Within One Year 7 (2,358,956 ) (1,365,964 )
NET CURRENT ASSETS (LIABILITIES) 4,481,642 2,862,427
TOTAL ASSETS LESS CURRENT LIABILITIES 4,568,763 2,975,850
Creditors: Amounts Falling Due After More Than One Year 8 - (158,333 )
NET ASSETS 4,568,763 2,817,517
CAPITAL AND RESERVES
Called up share capital 9 200 200
Revaluation reserve 12 (51,000 ) (51,000 )
Profit and Loss Account 4,619,563 2,868,317
SHAREHOLDERS' FUNDS 4,568,763 2,817,517
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Barnaby Sutton
Director
15/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bearded Kitten Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07624831 . The registered office is Unit 5, 5 Hancock Road, London, E3 3DA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Straight Line
Motor Vehicles 33% Straight Line
Fixtures & Fittings 33% Straight Line
Computer Equipment 33% Straight Line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 36 31
36 31
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 135,236 53,298 3,456 24,492 216,482
Additions 431 - 1 12,569 13,001
As at 30 September 2024 135,667 53,298 3,457 37,061 229,483
Depreciation
As at 1 October 2023 43,011 37,899 3,455 18,694 103,059
Provided during the period 28,608 4,402 - 6,293 39,303
As at 30 September 2024 71,619 42,301 3,455 24,987 142,362
Net Book Value
As at 30 September 2024 64,048 10,997 2 12,074 87,121
As at 1 October 2023 92,225 15,399 1 5,798 113,423
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,627,028 1,597,619
Prepayments and accrued income 53,034 25,191
Other debtors 86,156 190,571
VAT 21,508 -
Directors' loan accounts 43,234 -
Amounts owed by group undertakings - 142,222
Amounts owed by other participating interests 142,222 3,671
2,973,182 1,959,274
Due after more than one year
Deferred tax current asset 197,309 10,000
Amounts owed by group undertakings - 429,728
Amounts owed by other participating interests 291,372 -
488,681 439,728
3,461,863 2,399,002
Amounts in owed from group undertakings relate to a loan to Make it Bow Ltd which is a related party as it has similar shareholders and directors in Timothy Sampson and Barnaby Sutton. The loan attracts no interest and is repayable on demand
There is also a small loan of £6,974 to another group undertaking BK Europe which has yet to be incorporated this is included in amounts owed from group undertakings.
...CONTINUED
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5. Debtors - continued
Amounts owed from participating interests relate to employee loans which attract no interest.
Other Debtors consist of Hire Deposits which are amounts prepaid for accomodation costs for events occurring in the 2023-2024 financial year. 
6. Current Asset Investments
2024 2023
£ £
Short term deposits 4,500 4,500
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 226,563 92,881
Corporation tax 535,517 238,621
Other taxes and social security 86,766 65,222
VAT - 244,240
Net wages - 22
Other creditors 1 60,001
Amounts recieved in advance 1,318,126 424,686
Directors' loan accounts - 240,291
Amounts owed to group undertakings 191,983 -
2,358,956 1,365,964
Within Creditors Due Within One Year is amount owed to Bearded Kitten Australia Pty. 
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 158,333
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Barnaby Sutton - 13,525 - - -
Ms Joana Ferrao - 30,000 - - 30,000
The above loan is unsecured, interest free and repayable on demand.
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11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 300,000
12. Reserves
Revaluation Reserve
£
As at 1 October 2023 (51,000 )
As at 30 September 2024 (51,000 )
13. Post Balance Sheet Events
Note to the Financial Statements
Post-Balance Sheet Event: Share Buyback and Director Shareholding Update
On October 22, 2024, subsequent to the financial year ended September 30, 2024, the company completed a significant share buyback transaction involving both Ordinary A and Ordinary B Shares held by Director Timothy Sampson. The key details are as follows:
1. Pre-Transaction Shareholding:
• As of September 30, 2024, Timothy Sampson held:
• 41.9% of the company’s Ordinary A Shares, and
• 40% of the company’s Ordinary B Shares.
2. Share Buyback Details:
• The company repurchased all Ordinary B Shares held by Timothy Sampson, resulting in the cancellation of his entire holding of Ordinary B Shares.
• Additionally, the company repurchased a portion of Timothy Sampson’s Ordinary A Shares, reducing his ownership in Ordinary A Shares from 41.9% to 3.95%.
• The transaction was conducted in compliance with the company’s Articles of Association and relevant legal and regulatory requirements.
3. Post-Transaction Shareholding:
• Following the buyback:
• Timothy Sampson no longer holds any Ordinary B Shares.
• His ownership of Ordinary A Shares now stands at 3.95% of the total Ordinary A Shares issued.
4. Impact on Equity:
• As the transaction occurred after the financial year-end, it is disclosed as a non-adjusting post-balance sheet event, in accordance with Section 32 of FRS 102 (Events After the End of the Reporting Period) under UK GAAP.
• The financial implications, including reductions in share capital and reserves, will be reflected in the financial statements for the year ending September 30, 2025.
This transaction is part of the company’s strategic efforts to streamline its share structure and enhance capital efficiency. Detailed disclosures of the financial impact will be provided in the next reporting period.
14. Related Party Transactions
The following transactions were carried out with related parties during the year ended September 30, 2024, in accordance with Section 33 of FRS 102 (Related Party Disclosures) under UK GAAP.
Make It Bow Limited
Make It Bow Limited is a related party due to common directorships held by Barnaby Sutton and Timothy Sampson.
1. Rent Payments:
• During the year, the company paid rent of £240,915 to Make It Bow Limited for the use of property.
2. Loan Transactions:
• At the beginning of the year, the outstanding loan balance to Make It Bow Limited was £568,889.
• During the year, repayments of £142,222.30 were made, leaving an outstanding loan balance of £426,666.70 as of September 30, 2024.
• The loan was interest-free and unsecured.
Bearded Kitten Australia Pty Ltd
Bearded Kitten Australia Pty Ltd is a wholly owned subsidiary of Bearded Kitten Ltd.
1. Charges from Bearded Kitten Pty Ltd:
• Bearded Kitten Australia Pty Ltd charged Bearded Kitten Ltd £912,263.96 during the year for services provided.
2. Advances:
...CONTINUED
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14. Related Party Transactions - continued
• At the beginning of the year, Bearded Kitten Ltd had advanced £720,280 to Bearded Kitten Australia Pty Ltd.
3. Closing Balance:
• After accounting for charges and adjustments, the outstanding balance as of September 30, 2024, was £191,982.
4. Terms:
• The advances were provided on an interest-free and unsecured basis.
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