Acorah Software Products - Accounts Production 16.4.675 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 05995303 Jenny Hunter Daniel Wedgwood Tom Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05995303 2023-11-30 05995303 2024-11-30 05995303 2023-12-01 2024-11-30 05995303 frs-core:CurrentFinancialInstruments 2024-11-30 05995303 frs-core:Non-currentFinancialInstruments 2024-11-30 05995303 frs-core:ComputerEquipment 2024-11-30 05995303 frs-core:ComputerEquipment 2023-12-01 2024-11-30 05995303 frs-core:ComputerEquipment 2023-11-30 05995303 frs-core:FurnitureFittings 2024-11-30 05995303 frs-core:FurnitureFittings 2023-12-01 2024-11-30 05995303 frs-core:FurnitureFittings 2023-11-30 05995303 frs-core:MotorVehicles 2024-11-30 05995303 frs-core:MotorVehicles 2023-12-01 2024-11-30 05995303 frs-core:MotorVehicles 2023-11-30 05995303 frs-core:ShareCapital 2024-11-30 05995303 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 05995303 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 05995303 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 05995303 frs-bus:SmallEntities 2023-12-01 2024-11-30 05995303 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 05995303 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 05995303 frs-core:UnlistedNon-exchangeTraded 2024-11-30 05995303 frs-core:UnlistedNon-exchangeTraded 2023-11-30 05995303 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-11-30 05995303 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-11-30 05995303 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-11-30 05995303 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-11-30 05995303 frs-bus:Director1 2023-12-01 2024-11-30 05995303 frs-bus:Director2 2023-12-01 2024-11-30 05995303 frs-bus:Director3 2023-12-01 2024-11-30 05995303 frs-core:CurrentFinancialInstruments 2 2024-11-30 05995303 frs-core:CurrentFinancialInstruments 9 2024-11-30 05995303 frs-countries:EnglandWales 2023-12-01 2024-11-30 05995303 2022-11-30 05995303 2023-11-30 05995303 2022-12-01 2023-11-30 05995303 frs-core:CurrentFinancialInstruments 2023-11-30 05995303 frs-core:Non-currentFinancialInstruments 2023-11-30 05995303 frs-core:ShareCapital 2023-11-30 05995303 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 05995303 frs-core:CurrentFinancialInstruments 1 2023-11-30 05995303 frs-core:CurrentFinancialInstruments 2 2023-11-30 05995303 frs-core:CurrentFinancialInstruments 9 2023-11-30
Registered number: 05995303
The League of Adventurists International Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05995303
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 191,213 249,309
Investments 5 101 101
191,314 249,410
CURRENT ASSETS
Debtors 6 1,168,235 1,326,383
Cash at bank and in hand 251,077 112,358
1,419,312 1,438,741
Creditors: Amounts Falling Due Within One Year 7 (2,301,754 ) (2,367,667 )
NET CURRENT ASSETS (LIABILITIES) (882,442 ) (928,926 )
TOTAL ASSETS LESS CURRENT LIABILITIES (691,128 ) (679,516 )
Creditors: Amounts Falling Due After More Than One Year 8 (163,273 ) (73,500 )
NET LIABILITIES (854,401 ) (753,016 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (854,501 ) (753,116 )
SHAREHOLDERS' FUNDS (854,401) (753,016)
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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
Tom Morgan
Director
29/08/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The League of Adventurists International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05995303 . The registered office is Lytchett House, 13 Freeland Park, Wareham Road, Poole, BH16 6FA.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. 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 year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 688,430 60,150 151,032 899,612
Additions 5,723 - - 5,723
As at 30 November 2024 694,153 60,150 151,032 905,335
Depreciation
As at 1 December 2023 462,736 46,979 140,588 650,303
Provided during the period 57,020 3,293 3,506 63,819
As at 30 November 2024 519,756 50,272 144,094 714,122
Net Book Value
As at 30 November 2024 174,397 9,878 6,938 191,213
As at 1 December 2023 225,694 13,171 10,444 249,309
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5. Investments
Unlisted
£
Cost or Valuation
As at 1 December 2023 101
As at 30 November 2024 101
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 101
As at 1 December 2023 101
Unlisted investments represent the share capital of companies 100% under the control of The League of Adventurists International Ltd:
PM Stables Ltd 1 Ordinary £1 Share; and
The Equestrianists Ltd 10,000 Ordinary £0.01 Shares.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 127,499 106,144
Prepayments and accrued income 69,667 224,293
Other debtors 124,755 126,223
VAT Debtor - 2,630
Amounts owed by group undertakings 846,314 867,093
1,168,235 1,326,383
Included within amounts owed by group undertakings are the following:
£162,056 (2023 - £162,879) owed by Hunter Morgan Intergalactic Ltd (a company owned 100% by Tom Morgan and Jenny Hunter);
£664,741 (2023 - £672,741) owed by PM Stables Ltd (a company owned 100% by The League of Adventurists International Ltd); and
£19,516 (2023 - £31,473) owed by Venturo Adventure Machines Ltd (a company owned 100% by Tom Morgan, Jenny Hunter and Daniel Wedgwood).
Included within other debtors are the following amounts owed by directors:
Tom Morgan £46,052 (2023 - £46,052); 
Jenny Hunter £2,338 (2023 - £5,250); and
Daniel Wedgwood £34,234 (2023 - £34,234).
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 285,246 138,295
Bank loans and overdrafts 174,000 49,000
Corporation tax 16,230 14,128
Other taxes and social security 52,949 6,283
VAT creditor 10,106 -
Other creditors 10,733 -
Deposits held 279,191 192,576
Deferred income 1,334,774 1,826,584
Accruals 111,184 34,958
Amounts owed to group undertakings 27,341 105,843
2,301,754 2,367,667
Included within amounts owed by group undertakings is:
£27,341 (2023 - £105,843) owed by The Equestrianists Ltd (a company 100% owned by The League of Adventurists Ltd).
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 149,500 73,500
Accruals and deferred income 13,773 -
163,273 73,500
Included within bank loans is an unsecured £73,500 (2023 - £122,500) Coronavirus Business Interuption Loan received on 14 May 2020. The loan term was for six years, with repayments starting after one year. Interest is payable at 2.5% above the Bank of England base rate.
Also included within bank loans is an unsecured £250,000 loan received 19 November 2024. The loan term is for 2 years. Interest is payable at 4%.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Related Party Transactions
In addition to transactions disclosed in investments, debtors and creditors:
Tom Morgan, received £nil (2023 - £5,400) rental income for a property he owns in Mongolia for the purpose of running events.
Hunter Morgan Intergalactic Ltd was charged interest of £3,178 (2023 - £3,194) on the outstanding loan balance.
PM Stables Ltd was charged interest of £nil (2023 - £13,191) on the outstanding loan balance.
PM Stables Ltd charged The League of Adventurists International Limited £6,000 (2023 - £6,000) for storage rental.
Directors remuneration
During the year ended 30 November 2024, Tom Morgan, Jenny Hunter and Daniel Wedgwood received remuneration of £125,000 (2023: £150,000).
Controlling party
During the year ended 30 November 2024, Tom Morgan controlled the company by virtue of a controlling interest of 80% (2023: 80%) of the ordinary issued share capital.
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