| Balance Sheet | 3 |
| Statement of Compliance | 4 |
| Notes to the Financial Statements | 5–13 |
| 2025 £ |
2024 £ |
|
|---|---|---|
| Fixed assets | ||
| Tangible assets | ||
| Current assets | ||
| Creditors: amounts falling due within one year | ( |
( |
| Net current assets (liabilities) | ||
| Total assets less current liabilities | ||
| Creditors: amounts falling due after more than one year | ( |
( |
| Total net assets (liabilities) | ( |
( |
| Capital and reserves | ||
| Called up share capital | ||
| Profit and loss account | ( |
( |
| ( |
( |
The directors have elected not to deliver a copy of the profit and loss account to the registrar, in accordance with section 444(5A) of the Companies Act 2006.
Directors' responsibilities:
The accounts were approved by the Board of Directors and authorised for issue on 31 August 2026.
Turnover
Turnover is recognised when goods are delivered or services are provided.
Taxation
Corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Debtors
Debtors are recognised at the settlement amount due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event.
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' and the Companies Act 2006.
The average number of employees during the period was: 0
Basis of preparation. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investment properties, and in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.
Going concern. The financial statements have been prepared on a going concern basis notwithstanding net liabilities of £202,936, on the basis of continued financial support from the parent undertaking, The League of Adventurists International Ltd, which is owed £664,741 and has confirmed it will not seek repayment for at least twelve months from the date of approval of these financial statements.
Turnover. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Rental and storage income is recognised on a straight-line basis over the period of the letting. Short-term letting income is recognised over the period of occupancy. Income collected on the company's behalf by a related undertaking is recognised gross, with the related agent and management charges recognised within cost of sales and administrative expenses.
Tangible fixed assets and depreciation. Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on plant and machinery at 4 years straight line.
Investment properties. Investment properties are carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.
Borrowing costs. Loan arrangement fees and other transaction costs are deducted from the carrying value of the related liability and recognised in the profit and loss account over the term of the loan using the effective interest method.
The investment properties are carried at the director's assessment of fair value.
| Cost and depreciation | Investment properties £ |
Plant & machinery £ |
Total £ |
|---|---|---|---|
| Cost at 1 December 2024 | 916,747 | 13,480 | 930,227 |
| Cost at 30 November 2025 | 916,747 | 13,480 | 930,227 |
| Depreciation at 1 December 2024 | — | 6,739 | 6,739 |
| Provided during the period | — | 3,370 | 3,370 |
| Depreciation at 30 November 2025 | — | 10,109 | 10,109 |
| Net book value at 30 November 2025 | 916,747 | 3,371 | 920,118 |
| Net book value at 1 December 2024 | 916,747 | 6,741 | 923,488 |
Due within one year.
| Debtors | 2025 £ |
2024 £ |
|---|---|---|
| Trade debtors | 9,850 | — |
| Amounts owed by related undertaking | 5,608 | 11,646 |
| Total | 15,458 | 11,646 |
| Creditors | 2025 £ |
2024 £ |
|---|---|---|
| Deferred income | — | 1,700 |
| Accruals | 4,140 | 4,140 |
| Director's loan account | 805 | 1,755 |
| Other creditors | 13 | — |
| Total | 4,958 | 7,595 |
Bank loans comprise a mortgage secured on the investment properties. It is an interest only mortgage of an original term of 132 months from 13 November 2020, with 63 months remaining at the balance sheet date. Interest was charged at 4.84% until 12 November 2025 and at 7.19% thereafter. An arrangement fee of £4,704 was added to the loan on 13 November 2025 and is being amortised over the remaining term.
| Creditors | 2025 £ |
2024 £ |
|---|---|---|
| Bank loans | 475,164 | 470,436 |
| Less: unamortised loan arrangement fee | (4,662) | — |
| Bank loans, carrying value | 470,502 | 470,436 |
| Amounts owed to parent undertaking | 664,741 | 664,741 |
| Total | 1,135,243 | 1,135,177 |
The company is owned 100% by The League of Adventurists International Ltd (company number 05995303). The company has an unsecured, interest free loan from The League of Adventurists International Ltd of £664,741 (2024: £664,741), payable after one year.
At the balance sheet date £5,608 (2024: £11,448) was owed to the company by Hunter-Morgan Intergalactic Ltd (company number 12107205), a company under the common control of the directors. The loan is unsecured and interest free.
The director's loan account balance at the year end was £805 (2024: £1,755) owed by the company. The loan is unsecured, interest free and repayable on demand.