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Registration number: 14443454

Expedition Operations Ltd

Financial Statements

for the Year Ended 31 March 2025

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Expedition Operations Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

Expedition Operations Ltd

Company Information

Directors

O G Thomas

H A Rintoul

Registered office

Fourth Floor
14 Golden Square
London
W1F 9JG

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Expedition Operations Ltd

Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

3,402

883

Current assets

 

Debtors

6

281,711

326,190

Cash at bank and in hand

 

164,803

92,316

 

446,514

418,506

Creditors: Amounts falling due within one year

7

(397,953)

(433,619)

Net current assets/(liabilities)

 

48,561

(15,113)

Total assets less current liabilities

 

51,963

(14,230)

Provisions for liabilities

(795)

(193)

Net assets/(liabilities)

 

51,168

(14,423)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

51,167

(14,424)

Shareholders' funds/(deficit)

 

51,168

(14,423)

spacing

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 17 July 2025 and signed on its behalf by:
 

.........................................

O G Thomas

Director

Company registration number: 14443454

 

Expedition Operations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Fourth Floor
14 Golden Square
London
W1F 9JG

The principal activity of the company is that of the support of the funds’ portfolios through operational enhancement and consulting activities..

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 21 July 2025 was Colin Li, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company made a profit for the period ended 31 March 2025 and had net assets at that date amounting to £51,168.

The directors expect the Group to have adequate working capital for the foreseeable future and have prepared financial forecasts which demonstrate that the Group has adequate working capital to operate for a period of at least twelve months from the date of approval of the financial statements.

As such the directors have a reasonable expectation that the company has adequate resources to continue operating for the foreseeable future and that it will be able to meet its obligations as they fall due. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

 

Expedition Operations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for services provided in the ordinary course of the company's activities. Revenue from fees is recognised over the period in which discretionary investment advisory services have been provided to clients and the amount of revenue can be measured reliably.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings & equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Expedition Operations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year, was 2 (2024 - 1).

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

1,012

1,012

Additions

3,047

3,047

At 31 March 2025

4,059

4,059

Depreciation

At 1 April 2024

129

129

Charge for the year

528

528

At 31 March 2025

657

657

Carrying amount

At 31 March 2025

3,402

3,402

At 31 March 2024

883

883

6

Debtors

2025
£

2024
£

Trade debtors

234,185

127,228

Other debtors

47,526

198,962

281,711

326,190

 

Expedition Operations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Trade creditors

55,623

226,500

Amounts owed to group undertakings

234,123

89,038

Taxation and social security

65,378

-

Accruals and deferred income

42,315

117,824

Other creditors

514

257

397,953

433,619

8

Related party transactions

In accordance with FRS102 paragraph 33.1A exemption is taken not to disclose transactions or amounts due between wholly owned group undertakings.

9

Relationship between entity and parents

The parent of the smallest group preparing group accounts including the results of the company is headed by Expedition Growth Capital Limited.

The registered address of Expedition Growth Capital Limited is Fourth Floor, 14 Golden Square, W1F 9JG.