Company registration number 15000569 (England and Wales)
CONIBEAR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
CONIBEAR LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CONIBEAR LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,215,493
2,492,430
Tangible assets
4
651,064
709,087
2,866,557
3,201,517
Current assets
Stocks
2,714,240
2,164,278
Debtors
5
1,356,101
1,864,774
Cash at bank and in hand
161,552
290,166
4,231,893
4,319,218
Creditors: amounts falling due within one year
6
(1,426,212)
(1,491,884)
Net current assets
2,805,681
2,827,334
Total assets less current liabilities
5,672,238
6,028,851
Creditors: amounts falling due after more than one year
7
(5,022,850)
(5,456,578)
Provisions for liabilities
(147,058)
(160,561)
Net assets
502,330
411,712
Capital and reserves
Called up share capital
40
40
Profit and loss reserves
502,290
411,672
Total equity
502,330
411,712
CONIBEAR LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2025
31 August 2025
- 2 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 March 2026 and are signed on its behalf by:
Mr MA Champion (Chairman)
Director
Company registration number 15000569 (England and Wales)
CONIBEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

Conibear Limited is a private company limited by shares incorporated in England and Wales. The registered office is Commercial Road Business Park, Lords Meadow Industrial Estate, Crediton, Devon, EX17 1ER.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

CONIBEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

CONIBEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
14
12
CONIBEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2024 and 31 August 2025
2,769,367
Amortisation and impairment
At 1 September 2024
276,937
Amortisation charged for the year
276,937
At 31 August 2025
553,874
Carrying amount
At 31 August 2025
2,215,493
At 31 August 2024
2,492,430
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2024
241,586
1,774
15,042
540,031
798,433
Additions
49,088
-
0
388
41,304
90,780
Disposals
-
0
-
0
-
0
(9,195)
(9,195)
At 31 August 2025
290,674
1,774
15,430
572,140
880,018
Depreciation and impairment
At 1 September 2024
22,466
37
2,879
63,964
89,346
Depreciation charged in the year
43,824
519
3,476
93,306
141,125
Eliminated in respect of disposals
-
0
-
0
-
0
(1,517)
(1,517)
At 31 August 2025
66,290
556
6,355
155,753
228,954
Carrying amount
At 31 August 2025
224,384
1,218
9,075
416,387
651,064
At 31 August 2024
219,120
1,737
12,163
476,067
709,087
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,250,972
1,749,972
Other debtors
105,129
114,802
1,356,101
1,864,774
CONIBEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
48,500
-
0
Amounts owed to related parties
563,118
563,378
Trade creditors
492,238
728,700
Corporation tax
136,380
69,238
Other taxation and social security
174,121
102,217
Accruals and deferred income
11,855
28,351
1,426,212
1,491,884
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
116,930
-
0
Amounts owed to related parties
4,905,920
5,456,578
5,022,850
5,456,578
8
Related party transactions
2025
2024
Amounts due to related parties
£
£
Key management personnel
312,222
312,222
Other related parties loan note
2,394,356
2,957,734
Other related parties deferred consideration
2,750,000
2,750,000

The interest charged on amounts owed to key management personnel was 4%.

The interest charged on amounts owed to other related parties loan notes was 6%.

The interest charged on amounts owed to other related parties deferred consideration was 0%.

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