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REGISTERED NUMBER: 12813442 (England and Wales)




















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 July 2024

for

The Bear and The Bird Limited

The Bear and The Bird Limited (Registered number: 12813442)






Contents of the Consolidated Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


The Bear and The Bird Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: A Graham
J C Graham
L Graham
D L Murphy





REGISTERED OFFICE: 92 Walcot Street
Bath
Somerset
BA1 5BG





REGISTERED NUMBER: 12813442 (England and Wales)

The Bear and The Bird Limited (Registered number: 12813442)

Group Strategic Report
for the Year Ended 31 July 2024

The directors present their strategic report of the company and the group for the year ended 31 July 2024.

Principal activity

The Group's principal activities are that of retailing of furniture and home furnishings through its website and five stores, three in London, one in Bath and an Outlet attached to our new warehouse in Trowbridge, Wiltshire. The company also have a trade department that sells to hotels and other businesses such as interior design.

BUSINESS REVIEW AND KEY PERFORMANCE INDICATORS
We continued to see difficulties in retail through the whole of last year. Interest rates were slow to reduce which was disappointing and nervousness was evident before the two elections in the UK and US.

This was reflected in the company's performance in this period where sales fell by 10.2%. It is worth noting the company is still 20% higher in its turnover from FY20/21.

Gross margin has improved this year from 44% to 45.5% due to continued improvement on supply chain costs and other cost of sales.

In December we exited our leased warehouse in Chippenham. We moved into this in 2016 but began to outgrow it, and so for this and other reasons led to the purchase of our site in Trowbridge a couple of years ago. Moving forward the cost saving from incurring rent and rates on the old Chippenham site will of course add to our profitability.

We continued to look at ways to improve our B2B operations and launched a new Trade website earlier in the year.

PRINCIPAL RISKS AND UNCERTAINTIES
Retail continues to be a difficult market place.

Customers are more savvy when spending on higher ticket items and often wait for promotions before they spend. Lower interest rate expectations for the near future give cause for optimism that the coming year may improve in that regard as customers mortgages fall allowing more disposable income.

Inflation appears to be under control too so costs should remain reasonably constant.

FINANCIAL RISK MANAGEMENT
We continue to monitor cash flows very closely and make adjustments if and when required. We use foreign exchange contracts to control and mitigate financial risk when prudent to do so. We do not give credit to our Trade Customers so our credit risk is nil. We use cash deposits to earn the highest interest possible but with a reasonable timely access if that ever proved necessary.

FUTURE DEVELOPMENTS
We continue to streamline operations, and look at ways to reduce overheads. Review our range to make sure we add fresh and new offerings to the customer. We are looking to update our IT system as well as replace existing Till hardware in our stores but this will be a 12-24 month process.

ON BEHALF OF THE BOARD:





D L Murphy - Director


27 March 2025

The Bear and The Bird Limited (Registered number: 12813442)

Report of the Directors
for the Year Ended 31 July 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The Group's principal activities are that of retailing of furniture and home furnishings through its website and five stores, three in London, one in Bath and an Outlet attached to our new warehouse in Trowbridge, Wiltshire. The company also have a trade department that sells to hotels and other businesses such as interior design.

DIVIDENDS
The consolidated loss for the period, after taxation amounted to £379,845. The total distribution of dividends for the period ended 31 July 2024 was £144,569.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

A Graham
J C Graham
L Graham
D L Murphy

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Sumer Auditco Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D L Murphy - Director


27 March 2025

Report of the Independent Auditors to the Members of
The Bear and The Bird Limited

Opinion
We have audited the financial statements of The Bear and The Bird Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 July 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
The Bear and The Bird Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK Financial Reporting Standards and UK taxation legislation.

We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
The Bear and The Bird Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Cunningham (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Ltd
Statutory Auditors
30 Gay Street
Bath
Somerset
BA1 2PA

1 April 2025

The Bear and The Bird Limited (Registered number: 12813442)

Consolidated
Income Statement
for the Year Ended 31 July 2024

2024 2023
Notes £    £   

TURNOVER 14,772,730 16,450,270

Cost of sales 8,043,936 9,209,391
GROSS PROFIT 6,728,794 7,240,879

Administrative expenses 6,848,156 7,041,304
(119,362 ) 199,575

Other operating income 3 - 104,733
OPERATING (LOSS)/PROFIT 5 (119,362 ) 304,308

Interest receivable and similar income 30,658 15,962
(88,704 ) 320,270

Interest payable and similar expenses 7 291,141 243,264
(LOSS)/PROFIT BEFORE TAXATION (379,845 ) 77,006

Tax on (loss)/profit 8 - -
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (379,845 ) 77,006
(Loss)/profit attributable to:
Owners of the parent (379,845 ) 77,006

The Bear and The Bird Limited (Registered number: 12813442)

Consolidated
Other Comprehensive Income
for the Year Ended 31 July 2024

2024 2023
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (379,845 ) 77,006


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(379,845

)

77,006

Total comprehensive income attributable to:
Owners of the parent (379,845 ) 77,006

The Bear and The Bird Limited (Registered number: 12813442)

Consolidated Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 148,038 171,599
Tangible assets 12 1,164,373 1,110,821
Investments 13 - -
Investment property 14 7,135,997 7,135,997
8,448,408 8,418,417

CURRENT ASSETS
Stocks 15 3,411,398 3,781,866
Debtors 16 1,291,052 1,251,588
Cash at bank and in hand 1,244,102 1,721,879
5,946,552 6,755,333
CREDITORS
Amounts falling due within one year 17 2,517,876 2,271,411
NET CURRENT ASSETS 3,428,676 4,483,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,877,084

12,902,339

CREDITORS
Amounts falling due after more than one
year

18

(4,280,212

)

(4,481,053

)

PROVISIONS FOR LIABILITIES 21 - (300,000 )
NET ASSETS 7,596,872 8,121,286

CAPITAL AND RESERVES
Called up share capital 22 3,484 3,484
Share premium 23 311,348 311,348
Retained earnings 23 7,282,040 7,806,454
SHAREHOLDERS' FUNDS 7,596,872 8,121,286

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





D L Murphy - Director


The Bear and The Bird Limited (Registered number: 12813442)

Company Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 886,218 762,145
Investments 13 3,484 3,484
Investment property 14 7,135,997 7,135,997
8,025,699 7,901,626

CURRENT ASSETS
Debtors 16 103,018 63,750
Cash at bank 20,100 188,066
123,118 251,816
CREDITORS
Amounts falling due within one year 17 338,527 360,969
NET CURRENT LIABILITIES (215,409 ) (109,153 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,810,290

7,792,473

CREDITORS
Amounts falling due after more than one
year

18

4,280,212

4,481,053
NET ASSETS 3,530,078 3,311,420

CAPITAL AND RESERVES
Called up share capital 22 3,484 3,484
Retained earnings 23 3,526,594 3,307,936
SHAREHOLDERS' FUNDS 3,530,078 3,311,420

Company's profit for the financial year 363,227 184,519

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





D L Murphy - Director


The Bear and The Bird Limited (Registered number: 12813442)

Consolidated Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 August 2022 3,484 7,884,008 311,348 8,198,840

Changes in equity
Dividends - (154,560 ) - (154,560 )
Total comprehensive income - 77,006 - 77,006
Balance at 31 July 2023 3,484 7,806,454 311,348 8,121,286

Changes in equity
Dividends - (144,569 ) - (144,569 )
Total comprehensive income - (379,845 ) - (379,845 )
Balance at 31 July 2024 3,484 7,282,040 311,348 7,596,872

The Bear and The Bird Limited (Registered number: 12813442)

Company Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 3,484 3,277,977 3,281,461

Changes in equity
Dividends - (154,560 ) (154,560 )
Total comprehensive income - 184,519 184,519
Balance at 31 July 2023 3,484 3,307,936 3,311,420

Changes in equity
Dividends - (144,569 ) (144,569 )
Total comprehensive income - 363,227 363,227
Balance at 31 July 2024 3,484 3,526,594 3,530,078

The Bear and The Bird Limited (Registered number: 12813442)

Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 445,705 746,978
Interest paid (291,141 ) (243,264 )
Tax paid (563 ) (297,731 )
Net cash from operating activities 154,001 205,983

Cash flows from investing activities
Purchase of intangible fixed assets (22,800 ) (141,410 )
Purchase of tangible fixed assets (278,087 ) (1,024,065 )
Interest received 30,658 15,962
Net cash from investing activities (270,229 ) (1,149,513 )

Cash flows from financing activities
Loan repayments in year - (242,392 )
Capital repayments in year (216,980 ) 74,412
Equity dividends paid (144,569 ) (154,560 )
Net cash from financing activities (361,549 ) (322,540 )

Decrease in cash and cash equivalents (477,777 ) (1,266,070 )
Cash and cash equivalents at beginning
of year

2

1,721,879

2,987,949

Cash and cash equivalents at end of year 2 1,244,102 1,721,879

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

1. RECONCILIATION OF (LOSS)/PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
(Loss)/profit for the financial year (379,845 ) 77,006
Depreciation charges 246,604 239,378
Loss on disposal of fixed assets 24,292 -
Increase/(Decrease) in provisions (300,000 ) -
Finance costs 291,141 243,264
Finance income (30,658 ) (15,962 )
(148,466 ) 543,686
Decrease in stocks 370,468 177,036
Increase in trade and other debtors (39,464 ) (180,224 )
Increase in trade and other creditors 263,167 206,480
Cash generated from operations 445,705 746,978

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 1,244,102 1,721,879
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 1,721,879 2,987,949


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 1,721,879 (477,777 ) 1,244,102
1,721,879 (477,777 ) 1,244,102
Debt
Finance leases (74,412 ) 28,594 (45,818 )
Debts falling due within 1 year (265,462 ) (12,455 ) (277,917 )
Debts falling due after 1 year (4,481,053 ) 200,841 (4,280,212 )
(4,820,927 ) 216,980 (4,603,947 )
Total (3,099,048 ) (260,797 ) (3,359,845 )

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

The Bear and The Bird Limited 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the balance sheet date, the group made a loss after tax for the year of £379,845 (2023: profit £77,006), had net current assets at that date of £3,428,676 (2023: £4,483,922) and net assets of £7,596,872 (2023: £8,121,286).

The Directors believe the group has sufficient cash reserves which will enable it to continue to meet its liabilities as they fall due for at least the next twelve months from the date of approving these financial statements.

Basis of consolidation
These financial statements consolidate the results of The Bear and the Bird Limited and its wholly owned subsidiary company, Graham and Green Limited, on a line-by-line basis. No adjustments have been made to achieve uniformity of accounting policies.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Stock provision
This is based on review of year end stock for old, damaged and slow moving stock. A provision is made when the realisable value of items is considered to be lower than the carrying value.

Provisions
Provisions are liabilities of uncertain timing or amount and therefore in making a reliable estimate of the value and timing of liabilities judgement is applied and re-evaluated at each reporting date.

A provision is recognised in the balance sheet when the Company has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cashflows at a pre-tax rate that reflects risk specific to the liability. Provisions that relate to onerous contracts are not discounted.

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents the amounts (excluding Value Added Tax) derived from the provision of goods to customers during the year. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured.

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.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Website development costs is being amortised evenly over its estimated useful life of five years.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Improvements to property- 3 - 14 years straight line over the remaining term of the lease
Fixtures and fittings- 3 - 5 years straight line
Motor vehicles- 4 years straight line
Computer equipment- 4 years straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimates selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The group only 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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount which is an approximation of the amount that the Group would receive for the asset if it were to be be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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.

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.

Foreign currencies
Functional and presentation currency

The Group's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Operating leases: the company as lessee
Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset

The Group has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 August 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Pensions
Defined contribution pension plan

The Group 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 payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

3. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received - 104,733

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,726,667 2,688,031
Social security costs 210,020 200,101
Other pension costs 81,714 77,138
3,018,401 2,965,270

The average number of employees during the year was as follows:
2024 2023

Average number of employees 103 100

The average number of employees by undertakings that were proportionately consolidated during the year was 103 (2023 - 100 ) .

The highest paid director received remuneration of £102,511 (2023 : £113,170).

The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £13,908 (2023 : £13,500).

Retirement benefits were accruing to 3 directors in respect of defined contribution pension schemes.

31.07.23 31.07.22
£ £
Directors' remuneration 254,058 263,407
Directors' pension contributions to money purchase pension schemes 40,500 41,609

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 62,730 65,241
Depreciation - owned assets 200,243 177,466
Loss on disposal of fixed assets 15,006 -
Patents and licences amortisation 543 543
Computer software amortisation 45,818 61,369
Foreign exchange differences (7,271 ) 21,931

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

6. AUDITORS' REMUNERATION

Group Company
Year ended Period ended Year ended Period ended
31.07.24 31.07.23 31.07.24 31.07.23
£    £    £    £   
Audit of the financial statements 16,600 15,295 13,800 13,250
For non-audit services 4,320 4,150 2,325 2,225

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 291,141 243,264

8. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (379,845 ) 77,006
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 21 %)

(94,961

)

16,171

Effects of:
Capital allowances in excess of depreciation - (69,493 )
Depreciation in excess of capital allowances 26,906 -
capital allowances
Other 2,617 3,444

Loss carried forward 65,438 49,878
Total tax charge - -

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim 144,569 154,560

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

11. INTANGIBLE FIXED ASSETS

Group
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 August 2023 8,573 388,685 397,258
Additions - 22,800 22,800
At 31 July 2024 8,573 411,485 420,058
AMORTISATION
At 1 August 2023 4,473 221,186 225,659
Amortisation for year 543 45,818 46,361
At 31 July 2024 5,016 267,004 272,020
NET BOOK VALUE
At 31 July 2024 3,557 144,481 148,038
At 31 July 2023 4,100 167,499 171,599

12. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 1,072,885 712,397 26,293 733,350 2,544,925
Additions 217,564 36,406 - 24,117 278,087
Disposals (87,087 ) - - - (87,087 )
At 31 July 2024 1,203,362 748,803 26,293 757,467 2,735,925
DEPRECIATION
At 1 August 2023 230,242 549,583 26,293 627,986 1,434,104
Charge for year 81,807 72,533 - 45,903 200,243
Eliminated on disposal (62,795 ) - - - (62,795 )
At 31 July 2024 249,254 622,116 26,293 673,889 1,571,552
NET BOOK VALUE
At 31 July 2024 954,108 126,687 - 83,578 1,164,373
At 31 July 2023 842,643 162,814 - 105,364 1,110,821

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

12. TANGIBLE FIXED ASSETS - continued

Company
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 August 2023 748,310 55,361 803,671
Additions 196,404 1,599 198,003
At 31 July 2024 944,714 56,960 1,001,674
DEPRECIATION
At 1 August 2023 32,384 9,142 41,526
Charge for year 62,182 11,748 73,930
At 31 July 2024 94,566 20,890 115,456
NET BOOK VALUE
At 31 July 2024 850,148 36,070 886,218
At 31 July 2023 715,926 46,219 762,145

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 3,484
NET BOOK VALUE
At 31 July 2024 3,484
At 31 July 2023 3,484


Shares in group undertakings represents the company's investment in 100% of the ordinary share capital and voting rights of Graham and Green Limited, a company incorporated in England and Wales.

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 7,135,997
NET BOOK VALUE
At 31 July 2024 7,135,997
At 31 July 2023 7,135,997

Investment properties are stated at fair value as at 31 July 2024, based on a review by the Directors.

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

14. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 7,135,997
NET BOOK VALUE
At 31 July 2024 7,135,997
At 31 July 2023 7,135,997

15. STOCKS

Group
2024 2023
£    £   
Stocks 3,411,398 3,781,866

16. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 679,588 404,884 - -
Other debtors 275,132 279,506 77,536 46,473
VAT - - - 4,530
Prepayments and accrued income 336,332 489,698 25,482 12,747
1,291,052 1,174,088 103,018 63,750

Amounts falling due after more than one year:
Other debtors - 77,500 - -

Aggregate amounts 1,291,052 1,251,588 103,018 63,750

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 19) 277,917 265,462 277,917 265,462
Hire purchase contracts (see note 20) 45,818 74,412 - -
Trade creditors 685,925 667,577 20,567 92,602
Tax 10,380 10,943 (563 ) -
Social security and other taxes 56,729 61,555 - -
VAT 133,971 121,116 6,961 -
Other creditors 1,173,262 964,428 - 2,437
Accruals and deferred income 133,874 105,918 33,645 468
2,517,876 2,271,411 338,527 360,969

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 19) 4,280,212 4,481,053 4,280,212 4,481,053

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 277,917 265,462 277,917 265,462
Amounts falling due between one and two years:
Bank loans - 1-2 years 290,371 277,917 290,371 277,917
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,989,841 4,203,136 3,989,841 4,203,136

Bank loans are secured by a fixed and floating charge over the property and undertakings of the company.

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 45,818 74,412

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 783,854 639,651
Between one and five years 1,355,361 1,179,162
In more than five years 141,710 259,411
2,280,925 2,078,224

21. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Other provisions - 300,000

Aggregate amounts - 300,000

The Bear and The Bird Limited (Registered number: 12813442)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

Provisions include an amount relating to a contractual dispute which remains ongoing.

With reference to the prejudicial exemption in FRS 102, the company will not disclose any further information about the assumptions for these provisions. The disclosure of such information is believed to be detrimental to the company in connection with this ongoing claim.

22. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
3,484 Share capital 1 1 3,484 3,484

23. RESERVES

Group
Retained Share
earnings premium Totals
£    £    £   

At 1 August 2023 7,806,454 311,348 8,117,802
Deficit for the year (379,845 ) - (379,845 )
Dividends (144,569 ) - (144,569 )
At 31 July 2024 7,282,040 311,348 7,593,388

Company
Retained
earnings
£   

At 1 August 2023 3,307,936
Profit for the year 363,227
Dividends (144,569 )
At 31 July 2024 3,526,594


24. RELATED PARTY DISCLOSURES

Purchases totalling £19,292 (2023: £33,909) were made by the group from a director for bespoke retail goods. At the year end an amount of £nil (2023: £nl) was due to the director.

25. ULTIMATE CONTROLLING PARTY

The Directors believe there to be no single ultimate controlling party.

26. CHARGES

A Director holds a fixed and floating charge over the undertaking and all property and assets present and future.

The Group's bankers hold a fixed and floating debenture charge over the undertakings and all property and assets present and future.

The bank also holds a charge of deposit over all amounts now and in the future credited to a specific bank account.