REGISTERED NUMBER: 02977687 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2025

for

African Explorations Limited

Trading as

Explorations Company

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O R T Corkhill

C A van Zyl

REGISTERED OFFICE:

10b Priory Court

Poulton

Cirencester

Gloucestershire

GL7 5JB

REGISTERED NUMBER:

02977687 (England and Wales)

ACCOUNTANTS:

EWP Limited

20 Anchor Terrace

3-13 Southwark Bridge Road

London

SE1 9HQ

FIXED ASSETS

Intangible assets

4

15,466

27,156

Tangible assets

5

319

11,536

15,785

38,692

CURRENT ASSETS

Debtors

6

811,594

1,041,729

Cash at bank and in hand

1,002,113

961,057

1,813,707

2,002,786

CREDITORS

Amounts falling due within one year

7

1,661,450

1,727,807

NET CURRENT ASSETS

152,257

274,979

TOTAL ASSETS LESS CURRENT LIABILITIES

168,042

313,671

CREDITORS

Amounts falling due after more than one year

8

20,833

70,833

NET ASSETS

147,209

242,838

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

137,209

232,838

147,209

242,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

O R T Corkhill - Director

1.	STATUTORY INFORMATION

African Explorations 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

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 three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

Straight line over 3 years

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 May 2024

5,000

44,735

49,735

Additions

-

6,332

6,332

At 30 April 2025

5,000

51,067

56,067

AMORTISATION

At 1 May 2024

1,000

21,579

22,579

Charge for year

1,000

17,022

18,022

At 30 April 2025

2,000

38,601

40,601

NET BOOK VALUE

At 30 April 2025

3,000

12,466

15,466

At 30 April 2024

4,000

23,156

27,156

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

37,509

Additions

1,929

At 30 April 2025

39,438

DEPRECIATION

At 1 May 2024

25,973

Charge for year

13,146

At 30 April 2025

39,119

NET BOOK VALUE

At 30 April 2025

319

At 30 April 2024

11,536

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

448

9,443

Amounts owed by group undertakings

2,624

2,624

Other debtors

808,522

1,029,662

811,594

1,041,729

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans and overdrafts

50,000

50,000

Taxation and social security

37,391

32,666

Other creditors

1,574,059

1,645,141

1,661,450

1,727,807

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans

20,833

70,833