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Registered number: 14237902 BULLS AYE LIMITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
BULLS AYE LIMITED
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 6
BULLS AYE LIMITED REGISTERED NUMBER:14237902
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets | 4 |  | 207,894 |  | 206,093
Current assets |  |  |  |  |
Stocks |  | 896,431 |  | 898,057 |
Debtors: amounts falling due within one year | 5 | 308,659 |  | 170,048 |
Cash at bank and in hand |  | 155,817 |  | 134,483 |
|  | 1,360,907 |  | 1,202,588 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 6 | (4,459,796) |  | (2,528,339) |
Net current liabilities |  |  | (3,098,889) |  | (1,325,751)
Net liabilities |  |  | (2,890,995) |  | (1,119,658)
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 2 |  | 2
Profit and loss account |  |  | (2,890,997) |  | (1,119,660)
|  |  | (2,890,995) |  | (1,119,658)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 October 2025.
G R Freud
Director
The notes on pages 2 to 6 form part of these financial statements. Page 1
BULLS AYE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
Bulls Aye Limited is a private company, limited by shares, incorporated in England and Wales. Its business and registered office address is 1 Stephen Street, London, W1T 1AL. The principal activities of the Company are the operation of hotels, restaurants and bars. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Company made a loss of £1,771,337 (2023 - £1,119,660) for the year and at the reporting date had current and net liabilities of £3,098,889 (2023 - £1,325,751) and £2,890,995 (2023 - £1,119,658) respectively. The ultimate controlling party has confirmed to the directors that he has the ability and will financially support the Company as and when required so that the Company will be able to continue to meet its financial obligations as and when they fall due for at least twelve months from the date the financial statements are approved. Furthermore, connected creditors have confirmed they will not demand repayment of the balances, or any part, due to them which may affect the Company's liquidity position. Therefore, the directors believe that preparing the financial statements as a going concern is appropriate, and there are no material uncertainties which may cast significant doubt over the Company's ability to continue as such.
| 2.3 | Revenue
Turnover comprises revenue recognised by the Company in respect of accommodation fees and the sale of food and drinks, exclusive of Value Added Tax. Revenue for accommodation is recognised in the period to which it relates, amounts received in advance are carried forward as deferred income. Revenue from the sales of food and drinks is recognised at the point of sale.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 2
BULLS AYE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Pensions
Defined contribution pension plan The Company contributes to defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% | straight line
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Fixtures and fittings | - | 20% | straight line
|  |  |  | Computer equipment | - | 20% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value after making due allowance for out of date and impaired items.
| 2.8 | Debtors
Short-term debtors are measured at the transaction price, less any impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Page 3
BULLS AYE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.
| 2.12 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: a) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and b) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3. | Employees
| The average monthly number of employees, including directors, during the period was 57 (2023 - 16).
Page 4
BULLS AYE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Computer equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 January 2024 | 74,874 | 126,110 | 27,070 | 228,054
| Additions | 41,648 | - | 10,058 | 51,706
| At 31 December 2024 | 116,522 | 126,110 | 37,128 | 279,760
| Depreciation |  |  |  |
| At 1 January 2024 | 5,206 | 16,031 | 724 | 21,961
| Charge for the period on owned assets | 17,566 | 24,575 | 7,764 | 49,905
| At 31 December 2024 | 22,772 | 40,606 | 8,488 | 71,866
| Net book value |  |  |  |
| At 31 December 2024 | 93,750 | 85,504 | 28,640 | 207,894
| At 31 December 2023 | 69,668 | 110,079 | 26,346 | 206,093
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 70,252 | 7,515
| Amounts owed by group undertakings | 131,706 | 463
| Other debtors | 18,376 | 83,967
| Prepayments and accrued income | 88,325 | 78,103
|  | 308,659 | 170,048
Page 5
BULLS AYE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 103,123 | 159,952
| Amounts owed to group undertakings | 2,191,297 | 1,113,032
| Other taxation and social security | 174,765 | 77,512
| Other creditors | 1,873,814 | 1,067,738
| Accruals and deferred income | 116,797 | 110,105
|  | 4,459,796 | 2,528,339
7. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 200 (2023 - 200) Ordinary shares of £0.01 each | 2 | 2
8. | Auditors' information
The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.
| In their report, the auditors emphasised the following matter without qualifying their report: In forming our opinion we have considered the adequacy of the disclosures concerning the preparation of the financial statements on a going concern basis set out in Note 2.2. In view of the significance of this matter we consider that it should be brought to your attention but our opinion is not qualified in this respect.
The audit report was signed on 6 October 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.
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