Company registration number 12104245 (England and Wales)
ADIVO - NASCOT STREET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
ADIVO - NASCOT STREET LIMITED
COMPANY INFORMATION
Director
S Aka
Company number
12104245
Registered office
Kings Head House
15 London End
Beaconsfield
HP9 2HN
Accountants
Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
ADIVO - NASCOT STREET LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
ADIVO - NASCOT STREET LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investment property
3
-
0
7,964,127
Current assets
Debtors
4
1,713
21,568
Cash at bank and in hand
283
72
1,996
21,640
Creditors: amounts falling due within one year
5
(64,430)
(7,991,794)
Net current liabilities
(62,434)
(7,970,154)
Net liabilities
(62,434)
(6,027)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(62,534)
(6,127)
Total equity
(62,434)
(6,027)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 25 September 2023
S Aka
Director
Company Registration No. 12104245
ADIVO - NASCOT STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Adivo - Nascot Street Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Head House, 15 London End, Beaconsfield, HP9 2HN.

1.1
Accounting convention

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts have been prepared on a going concern basis on the understanding that continued financial support will betrue forthcoming from the director for a period in excess of twelve months from the approval date of these financial statements.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial asset and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttabale ordinary shares.

 

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

 

Debtors

Basic financial assets, including trade and other debtors are measured at transaction price, less any impairment.

 

Cash and cash equivalents

Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.

 

Creditors

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

ADIVO - NASCOT STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Current or deferred taxation assets and liabilities are not discounted.

 

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

 

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

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

2022
2021
Number
Number
Total
1
1
3
Investment property
2022
£
Fair value
At 1 January 2022
7,964,127
Additions
294,906
Disposals
(8,259,033)
At 31 December 2022
-
0

All property held during the year have been transferred to a group company at market value.

ADIVO - NASCOT STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
1,713
21,043
Prepayments and accrued income
-
0
525
1,713
21,568
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
-
0
1,557
Amounts owed to group undertakings
60,931
5,610,671
Other creditors
-
0
2,376,066
Accruals and deferred income
3,499
3,500
64,430
7,991,794
6
RELATED PARTY DISCLOSURES

Amounts owed to and from group undertakings are interest free and repayable on demand.

 

Additionally, included within creditors is an amount owed to the director which is interest free and repayable on demand.

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