Adventure 001 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05258532 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

ADVENTURE 001 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N McLaren

REGISTERED OFFICE:

Hillmotts Farm Cottage

Hedgerley Lane

Beaconsfield

Bucks

HP9 2SB

REGISTERED NUMBER:

05258532 (England and Wales)

ACCOUNTANTS:

Richardson Jones

Chartered Accountants

Mercury House

19-21 Chapel Street

Marlow

Buckinghamshire

SL7 3HN

FIXED ASSETS

Tangible assets

4

1,341,813

1,000,861

Investments

5

100,000

100,000

1,441,813

1,100,861

CURRENT ASSETS

Debtors

6

503,972

526,617

Cash at bank

763,194

603,579

1,267,166

1,130,196

CREDITORS

Amounts falling due within one year

7

1,401,840

1,352,908

NET CURRENT LIABILITIES

(134,674

)

(222,712

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,307,139

878,149

CREDITORS

Amounts falling due after more than one year

8

(495,443

)

(207,190

)

PROVISIONS FOR LIABILITIES

(229,312

)

(154,553

)

NET ASSETS

582,384

516,406

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

581,384

515,406

SHAREHOLDERS' FUNDS

582,384

516,406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 29 March 2022 and were signed by:

Mr N McLaren - Director

1.	STATUTORY INFORMATION

Adventure 001 Limited 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.

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.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Government grants

Government grants are recognised using the accrual model. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

The Coronavirus Job Retention Scheme (CJRS) resulted in cash payments from the government to compensate for part of the wages, associated National Insurance Contributions (NICs) and employer pension contributions of employees who have been placed on furlough. During the year ended 31st March 2021, Adventure 001 Ltd received a total of £109,636 (2020: Nil) in government grants through the CJRS.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2020

23,462

1,351,755

25,841

Additions

-

587,500

-

At 31 March 2021

23,462

1,939,255

25,841

DEPRECIATION

At 1 April 2020

-

428,008

25,841

Charge for year

-

243,708

-

At 31 March 2021

-

671,716

25,841

NET BOOK VALUE

At 31 March 2021

23,462

1,267,539

-

At 31 March 2020

23,462

923,747

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2020

118,417

24,688

1,544,163

Additions

11,473

1,874

600,847

At 31 March 2021

129,890

26,562

2,145,010

DEPRECIATION

At 1 April 2020

65,930

23,523

543,302

Charge for year

14,077

2,110

259,895

At 31 March 2021

80,007

25,633

803,197

NET BOOK VALUE

At 31 March 2021

49,883

929

1,341,813

At 31 March 2020

52,487

1,165

1,000,861

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 31 March 2021

100,000

NET BOOK VALUE

At 31 March 2021

100,000

At 31 March 2020

100,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

24,599

104,905

Amounts owed by group undertakings

464,243

375,825

Section 419 tax

4,630

4,630

Rental deposit

10,500

10,500

Directors' current accounts

-

30,757

503,972

526,617

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

16,447

-

Hire purchase contracts

5,402

82,325

Trade creditors

341,759

407,349

Social security and other taxes

25,414

3,458

VAT

146,865

178,205

Other creditors

30,169

36,486

Directors' current accounts

20,399

-

Accrued expenses

815,385

645,085

1,401,840

1,352,908

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 1-2 years

62,273

-

Bank loans - 2-5 years

171,280

-

Accrued expenses

261,890

207,190

495,443

207,190

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

Mr N McLaren

Balance outstanding at start of year

30,757

72,799

Amounts advanced

-

30,757

Amounts repaid

(51,156

)

(72,799

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(20,399

)

30,757

10.	ULTIMATE CONTROLLING PARTY

Control of the company rests with Mr N Mclaren, a director, by virtue of his interest in 100% of the issued ordinary share capital.