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REGISTERED NUMBER: 11536738 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31st August 2024

for

LETS EXPLORE HOLDINGS LIMITED

LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)






Contents of the Financial Statements
for the year ended 31st August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LETS EXPLORE HOLDINGS LIMITED

Company Information
for the year ended 31st August 2024







DIRECTORS: J Bayly
R M Parker





REGISTERED OFFICE: Suffolk House
George Street
Croydon
Surrey
CR0 0YN





REGISTERED NUMBER: 11536738 (England and Wales)





ACCOUNTANTS: TC Group
Office: Croydon - TC SWP
3rd Floor, Suffolk House
George Street
Croydon
CR0 0YN

LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Statement of Financial Position
31st August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,627 1,316
Tangible assets 5 6,047 22,311
Investments 6 100 100
8,774 23,727

CURRENT ASSETS
Debtors 7 49,230 30,994
Cash at bank and in hand 36,924 42,522
86,154 73,516
CREDITORS
Amounts falling due within one year 8 39,277 60,037
NET CURRENT ASSETS 46,877 13,479
TOTAL ASSETS LESS CURRENT LIABILITIES 55,651 37,206

CREDITORS
Amounts falling due after more than one
year

9

(58,345

)

(58,345

)

PROVISIONS FOR LIABILITIES (1,597 ) (5,702 )
NET LIABILITIES (4,291 ) (26,841 )

CAPITAL AND RESERVES
Called up share capital 421 421
Retained earnings (4,712 ) (27,262 )
(4,291 ) (26,841 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Statement of Financial Position - continued
31st August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th May 2025 and were signed on its behalf by:





J Bayly - Director


LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Notes to the Financial Statements
for the year ended 31st August 2024

1. STATUTORY INFORMATION

Lets Explore Holdings 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Lets Explore Holdings Limited as an individual company and do not contain financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover from a contract to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of turnover can be measure reliably
- it is probable that the company will receive the consideration due under the contract; and
- the stage of completion of the service at the end of the reporting period can be measured reliably.

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.

Computer software is being amortised evenly over its estimated useful life of four 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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Fixtures and fittings - 25% straight line
Leasehold Improvements - 10% straight line
Plant and equipment - 25% straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the Statement of Comprehensive Income.


LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtor
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st September 2023 1,922
Additions 2,388
At 31st August 2024 4,310
AMORTISATION
At 1st September 2023 606
Charge for year 1,077
At 31st August 2024 1,683
NET BOOK VALUE
At 31st August 2024 2,627
At 31st August 2023 1,316

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st September 2023 5,000 9,432 53,880 68,312
Additions - 374 - 374
At 31st August 2024 5,000 9,806 53,880 68,686
DEPRECIATION
At 1st September 2023 500 5,091 40,410 46,001
Charge for year 717 2,451 13,470 16,638
At 31st August 2024 1,217 7,542 53,880 62,639
NET BOOK VALUE
At 31st August 2024 3,783 2,264 - 6,047
At 31st August 2023 4,500 4,341 13,470 22,311

LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st September 2023
and 31st August 2024 100
NET BOOK VALUE
At 31st August 2024 100
At 31st August 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors - 1,680
Amounts owed by group undertakings 25,840 5,270
Other debtors 139 -
Prepayments 23,251 24,044
49,230 30,994

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 8,999 25,797
Tax 6,047 -
Social security and other taxes 581 343
VAT 8,323 8,696
Other creditors 4,776 8,303
Accruals and deferred income 10,551 16,898
39,277 60,037

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Other creditors 58,345 58,345

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 85,000 85,000
Between one and five years 340,000 340,000
In more than five years 219,583 304,583
644,583 729,583

LETS EXPLORE HOLDINGS LIMITED (REGISTERED NUMBER: 11536738)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

11. RELATED PARTY DISCLOSURES

Included within other creditors older than a year is an amount owed to a shareholder of £58,345 (2023 - £58,345). This amount is interest free and repayable in more than a year.