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Registered number: 11693814
Bearded Men Adventures Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11693814
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,424 3,232
Tangible Assets 5 51,738 54,073
54,162 57,305
CURRENT ASSETS
Stocks 6 - 2,060
Debtors 7 77,887 33,940
Cash at bank and in hand 257,866 271,796
335,753 307,796
Creditors: Amounts Falling Due Within One Year 8 (273,987 ) (257,555 )
NET CURRENT ASSETS (LIABILITIES) 61,766 50,241
TOTAL ASSETS LESS CURRENT LIABILITIES 115,928 107,546
Creditors: Amounts Falling Due After More Than One Year 9 (11,320 ) (43,176 )
NET ASSETS 104,608 64,370
CAPITAL AND RESERVES
Called up share capital 11 1,178 1,178
Share premium account 14,822 14,822
Profit and Loss Account 88,608 48,370
SHAREHOLDERS' FUNDS 104,608 64,370
Page 1
Page 2
For the year ending 30 November 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 Hugh Luckock
Director
6 June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bearded Men Adventures Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11693814 . The registered office is The Fringe Shed, Parade Street, Llangollen, LL20 8PW.
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Tour Operator's Margin Scheme
The Company operates under the Tour Operator's Margin Scheme for value added tax.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other
Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless
the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not
amortised.
Classification of financial liabilities
...CONTINUED
Page 3
Page 4
2.7. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after
deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that
are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not,
they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and
subsequently measured at amortised cost using the effective interest method.
2.8. 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
4. Intangible Assets
Other
£
Cost
As at 1 December 2023 4,811
As at 30 November 2024 4,811
Amortisation
As at 1 December 2023 1,579
Provided during the period 808
As at 30 November 2024 2,387
Net Book Value
As at 30 November 2024 2,424
As at 1 December 2023 3,232
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 78,431 29,120 3,079 110,630
Additions 7,309 6,708 - 14,017
As at 30 November 2024 85,740 35,828 3,079 124,647
Depreciation
As at 1 December 2023 40,682 14,167 1,708 56,557
Provided during the period 11,264 4,745 343 16,352
As at 30 November 2024 51,946 18,912 2,051 72,909
Net Book Value
As at 30 November 2024 33,794 16,916 1,028 51,738
As at 1 December 2023 37,749 14,953 1,371 54,073
6. Stocks
2024 2023
£ £
Stock - 2,060
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,476 32,760
BMA leisure loan 48,411 -
Net wages - 1,180
77,887 33,940
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16,865 1,438
Bank loans and overdrafts 2,562 1,304
Corporation tax 81,140 39,417
PAYE 1,180 3,215
VAT 46,761 54,502
Accrual 1,500 1,500
Pension control account 455 (423 )
Income in advance 25,999 37,706
Directors' loan accounts 97,525 118,896
273,987 257,555
Page 5
Page 6
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Hire purchase close bros 2,320 4,831
HSBC loan - 7,985
Other creditors 9,000 30,360
11,320 43,176
10. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 2,320 4,831
Other loans - 7,985
2,320 12,816
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,178 1,178
Page 6