REGISTERED NUMBER: 12896150 (England and Wales)

WE ARE ADVENTURE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Johnson

REGISTERED OFFICE:

8 Church Green East

Redditch

Worcestershire

B98 8BP

REGISTERED NUMBER:

12896150 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Tangible assets

4

324,849

112,905

CURRENT ASSETS

Stocks

52,000

41,038

Debtors

5

-

600

Cash at bank

24,823

17,898

76,823

59,536

CREDITORS

Amounts falling due within one year

6

199,506

162,649

NET CURRENT LIABILITIES

(122,683

)

(103,113

)

TOTAL ASSETS LESS CURRENT LIABILITIES

202,166

9,792

CREDITORS

Amounts falling due after more than one year

7

(54,707

)

-

PROVISIONS FOR LIABILITIES

(27,074

)

-

NET ASSETS

120,385

9,792

CAPITAL AND RESERVES

Called up share capital

10

10

Fair value reserve

8

109,994

-

Retained earnings

10,381

9,782

SHAREHOLDERS' FUNDS

120,385

9,792

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

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

The director acknowledges his 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 director and authorised for issue on 30 September 2025 and were signed by:

C Johnson - Director

1.	STATUTORY INFORMATION

We Are Adventure Ltd 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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

5% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

4,729

128,719

1,625

135,073

Additions

-

123,262

-

123,262

Disposals

-

(23,643

)

-

(23,643

)

Revaluations

-

94,758

-

94,758

At 31 December 2024

4,729

323,096

1,625

329,450

DEPRECIATION

At 1 January 2024

2,392

18,664

1,112

22,168

Charge for year

584

-

513

1,097

Eliminated on disposal

-

(3,428

)

-

(3,428

)

Revaluation adjustments

-

(15,236

)

-

(15,236

)

At 31 December 2024

2,976

-

1,625

4,601

NET BOOK VALUE

At 31 December 2024

1,753

323,096

-

324,849

At 31 December 2023

2,337

110,055

513

112,905

Cost or valuation at 31 December 2024 is represented by:

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

Valuation in 2024

-

94,758

-

94,758

Cost

4,729

228,338

1,625

234,692

4,729

323,096

1,625

329,450

If Motor vehicles had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

228,338

-

Aggregate depreciation

7,896

-

Motor vehicles were valued on a fair value basis on 31 December 2024 by Callum Johnson, director .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

Additions

73,191

Revaluations

45,809

At 31 December 2024

119,000

NET BOOK VALUE

At 31 December 2024

119,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

-

600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

12,600

Hire purchase contracts

16,241

-

Trade creditors

4,915

1,587

Amounts owed to group undertakings

32,444

-

Amounts owed to associates

-

817

Taxation and social security

4,553

11,225

Other creditors

141,353

136,420

199,506

162,649

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

42,840

-

Other creditors

11,867

-

54,707

-

8.

RESERVES

Fair

value

reserve

£

Transfers between reserves

109,994

At 31 December 2024

109,994