Bearded Kitten Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Bearded Kitten Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07624831 . The registered office is Unit 5, 5 Hancock Road, London, E3 3DA.

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:

Plant & Machinery	33% Straight Line
Motor Vehicles	33% Straight Line
Fixtures & Fittings	33% Straight Line
Computer Equipment	33% Straight Line

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.

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 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.

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 assets reflect 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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

Page 3

Page 4

Bearded Kitten Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the period was:

	31 December 2024	30 September 2024
Office and administration	36	36

	36	36

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2024	135,667	53,298	3,457	37,061	229,483
Additions	-	-	-	3,642	3,642

As at 31 December 2024	135,667	53,298	3,457	40,703	233,125

Depreciation
As at 1 October 2024	71,619	42,301	3,455	24,987	142,362
Provided during the period	4,522	1,097	-	2,012	7,631

As at 31 December 2024	76,141	43,398	3,455	26,999	149,993

Net Book Value
As at 31 December 2024	59,526	9,900	2	13,704	83,132

As at 1 October 2024	64,048	10,997	2	12,074	87,121

5. Debtors

	31 December 2024	30 September 2024
	£	£
Due within one year
Trade debtors	1,337,708	2,627,028
Prepayments and accrued income	196,285	53,034
Other debtors	51,472	86,156
VAT	-	21,508
Net wages	365	-
Directors' loan accounts	119,999	43,234
Amounts owed by associates	399,539	-
Amounts owed by other participating interests	-	142,222

	2,105,368	2,973,182
Due after more than one year
Deferred tax current asset	-	197,309
Amounts owed by other participating interests	-	291,372

	-	488,681

	2,105,368	3,461,863

Page 4

Page 5

Bearded Kitten Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

Amounts in owed from group undertakings relate to a loan to Make it Bow Ltd which is a related party as it has similar shareholders and directors in Timothy Sampson and Barnaby Sutton. The loan attracts no interest and is repayable on demand

There is also a small loan of £6,974 to another group undertaking BK Europe which has yet to be incorporated this is included in amounts owed from group undertakings.

Amounts owed from participating interests relate to employee loans which attract no interest.

Other Debtors consist of Hire Deposits which are amounts prepaid for accomodation costs for events occurring in the 2023-2024 financial year.

6. Current Asset Investments

	31 December 2024	30 September 2024
	£	£
Short term deposits	4,500	4,500

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 September 2024
	£	£
Trade creditors	117,513	226,563
Corporation tax	535,517	535,517
Other taxes and social security	84,174	86,766
VAT	74,252	-
Other creditors	291	1
Amounts recieved in advance	855,824	1,318,126
Accruals and deferred income	961,017	-
Amounts owed to group undertakings	-	191,983
Amounts owed to subsidiaries	100,537	-

	2,729,125	2,358,956

Within Creditors Due Within One Year is amount owed to Bearded Kitten Australia Pty.

8. Share Capital

	31 December 2024	30 September 2024
	£	£
Allotted, Called up and fully paid	108	200

The decrease in share capital relates to the company buy back of ordinary A Shares and Ordinary B Shares of founder Timmy Sampson.

The company repurchased all Ordinary B Shares held by Timothy Sampson, resulting in the cancellation of his entire holding of Ordinary B Shares.

Additionally, the company repurchased a portion of Timothy Sampson’s Ordinary A Shares, reducing his ownership in Ordinary A Shares from 41.9% to 3.95%.

9. Contingent Liabilities

At the balance sheet date, there is a potential insurance claim against the company amounting to approximately £150,000.

The matter is currently under review and has not been finalised. Based on information available to the directors, it is not possible at this stage to determine the outcome or quantify any potential liability with reasonable certainty.

No provision has therefore been made in the financial statements.

Page 5

Page 6

Bearded Kitten Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 October 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Barnaby Sutton	13,525	66,475	-	-	80,000
Ms Joana Ferrao	30,000	10,000	-	-	40,000

The above loan is unsecured, interest free and repayable on demand.

11. Dividends

12. Reserves

	Revaluation Reserve
	£
As at 1 October 2024	(51,000 )
Purchase of own shares (Revaluation reserve)	(2,159,069 )

As at 31 December 2024	(2,210,069 )

13. Related Party Transactions

The following transactions were carried out with related parties during the perio ended December 31, 2024, in accordance with Section 33 of FRS 102 (Related Party Disclosures) under UK GAAP.

Make It Bow Limited

Make It Bow Limited is a related party due to common directorships held by Barnaby Sutton.

Rent Payments:

During the period, the company paid rent of £78,019 to Make It Bow Limited for the use of property 5 Hancock Road.

Loan Transactions:

At the beginning of the period the outstanding loan balance to Make It Bow Limited was £426,666.

During the year, repayments of £142,222.30 were made, leaving an outstanding loan balance of £381,111 as of December 31, 2024.

The loan was interest-free and unsecured.

Bearded Kitten Australia Pty Ltd

Bearded Kitten Australia Pty Ltd is a wholly owned subsidiary of Bearded Kitten Ltd.

At the beginning of the period Bearded Kitten Ltd had advanced £191,882 to Bearded Kitten Australia Pty Ltd.

After accounting for charges and adjustments, the outstanding balance as of December30, 2024, was £104,735.

The advances were provided on an interest-free and unsecured basis.

Page 6

		31 December 2024		30 September 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		83,132		87,121

			83,132		87,121
CURRENT ASSETS
Debtors	5	2,105,368		3,461,863
Investments	6	4,500		4,500
Cash at bank and in hand		1,795,386		3,374,235

		3,905,254		6,840,598
Creditors: Amounts Falling Due Within One Year	7	(2,729,125 )		(2,358,956 )

NET CURRENT ASSETS (LIABILITIES)			1,176,129		4,481,642

TOTAL ASSETS LESS CURRENT LIABILITIES			1,259,261		4,568,763

NET ASSETS			1,259,261		4,568,763

CAPITAL AND RESERVES
Called up share capital	8		108		200
Revaluation reserve	12		(2,210,069 )		(51,000 )
Profit and Loss Account			3,469,222		4,619,563

SHAREHOLDERS' FUNDS			1,259,261		4,568,763