2023-11-012024-10-312024-10-31false09190563HIGH ADVENTURE OUTDOOR EDUCATION CENTRE 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HIGH ADVENTURE OUTDOOR EDUCATION CENTRE LIMITED

Registered Number
09190563
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

HIGH ADVENTURE OUTDOOR EDUCATION CENTRE LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

FERGUSON, Timothy Paul
JEPSON, Christopher Michael

Registered Address

High Adventure
233 Keighley Road
Keighley
BD22 0AA

Registered Number

09190563 (England and Wales)
HIGH ADVENTURE OUTDOOR EDUCATION CENTRE LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,073,192342,546
1,073,192342,546
Current assets
Stocks38,79930,328
Debtors4174,671134,109
Cash at bank and on hand368,344644,870
581,814809,307
Creditors amounts falling due within one year5(1,196,865)(532,982)
Net current assets (liabilities)(615,051)276,325
Total assets less current liabilities458,141618,871
Provisions for liabilities6(12,000)(12,000)
Net assets446,141606,871
Capital and reserves
Called up share capital100100
Profit and loss account446,041606,771
Shareholders' funds446,141606,871
The financial statements were approved and authorised for issue by the Board of Directors on 10 April 2025, and are signed on its behalf by:
JEPSON, Christopher Michael
Director
Registered Company No. 09190563
HIGH ADVENTURE OUTDOOR EDUCATION CENTRE LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future.The company continue to have the support of the directors, shareholders and creditors and therefor continue to adopt the going concern basis of accounting in preparing financial statements.
Turnover policy
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/or the 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Within Plant & Machinery are the following: Plant & Equipment - 25% Straight Line Sporting Equipment - 20% Straight Line Office Equipment - 33.3% Straight Line Fixtures & Fittings - 20% Straight Line

Reducing balance (%)Straight line (years)
Land and buildings-10
Vehicles25-
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year3030
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 November 23582,098269,79193,875945,764
Additions797,377-28,878826,255
Disposals--(33,092)(33,092)
At 31 October 241,379,475269,79189,6611,738,927
Depreciation and impairment
At 01 November 23291,050232,27779,891603,218
Charge for year63,18818,9596,59188,738
On disposals--(26,221)(26,221)
At 31 October 24354,238251,23660,261665,735
Net book value
At 31 October 241,025,23718,55529,4001,073,192
At 31 October 23291,04837,51413,984342,546
Included in land & buildings is land with an estimated cost of £200,000 which is not depreciated.
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables109,17593,733
Other debtors26,7242,113
Prepayments and accrued income38,77238,263
Total174,671134,109
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables32,99573,939
Taxation and social security35,23843,836
Other creditors1,112,097393,408
Accrued liabilities and deferred income16,53521,799
Total1,196,865532,982
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. A legal charge is in place over properties personally held by directors T P Ferguson and C M Jepson.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,00012,000
Total12,00012,000
7.Capital commitments
At 31 October 2024 the Company had future minimum lease payments under non-cancellable operating leases as follows: Not later than 1 year £70,583 (2023 - £134,877)
8.Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £Nil (2023 - £2,248) were payable to the fund at the reporting date and are included in creditors.
9.Related party transactions
Included within other creditors, amounts due within one year is a balance due to T P Ferguson, Director, of £371,888 (2023 - £15,704). The balance is interest free and repayable on demand. Included within other creditors, amounts due within one year is a balance due to C M Jepson, Director, of £372,580 (2023 - £16,396). The balance is interest free and repayable on demand. During the year the company paid rent of £33,000 (2023 - £16,300) to T P Ferguson. During the year the company paid rent of £33,000 (2023 - £16,300) to C M Jepson.